The Latin America, Middle East and Africa Employee Engagement Software Market would witness market growth of 19.7% CAGR during the forecast period (2023-2029).
Organizations use employee engagement tools to inspire employees, motivate them, and realize each person's full potential for the benefit of the whole. In most firms, the rise in workload has significantly impacted employees' ability to balance their professional and personal lives. Many remote workers think it's challenging to switch it off after work. Also, a full week of virtual meetings wears down and worries the staff. Employee engagement suffers as a result of such a work-life imbalance.
That is why numerous suppliers of employee engagement solutions have begun to include health solutions into their suite of employee engagement solutions in order to address this problem. Gamification is becoming increasingly popular as it improves user capabilities and their involvement in business operations. Many employees also said that gamification greatly increased performance. Its integration is anticipated to improve several human resource capabilities, including increased staff productivity, higher job satisfaction, an efficient reward system, and more, ultimately increasing corporate income. Thus, adding sophisticated gamification features is likely going to increase market share.
Israel's increased focus on digital technology, cyber security, artificial intelligence, robotics, and healthcare IT drives much of the market's growth. The overall demand for digitalization and scalable IT infrastructure, the wide adoption of the 5G network, the growing presence of technology giants, and the rising need to explore and use digital technologies and initiatives are also helping the ICT sector grow way. ICT industry providers use cloud computing for many things, including managing resources, storing data, making backups, providing orchestration services, and more. Many industries, including IT and telecom, have started using cloud computing. The government is working to strengthen the country's IT sector because digital transformation is becoming more popular.
The Brazil market dominated the LAMEA Employee Engagement Software Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $41.6 million by 2029. The Argentina market is experiencing a CAGR of 20.4% during (2023 - 2029). Additionally, The UAE market would display a CAGR of 19.4% during (2023 - 2029).
Based on Vertical, the market is segmented into Telecom & IT, Healthcare, Retail, Government, Manufacturing, BFSI, Hospitality and Others. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Function, the market is segmented into Collaboration & Interaction, Training, Onboarding, Customer Service, Rewards & Recognitions, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Employee Engagement Software Market is Projected to reach USD 2.6 Billion by 2029, at a CAGR of 17.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 15Five, Inc., Degree, Inc. (Lattice), Smartly, Inc., Vantage Circle (Bargain Technologies Private Limited), Nreach Online Services Private Limited (Gift Management Asia Pte Ltd), Workvivo Limited, Synergita Software Private Limited (Aspire Systems Group), Leapsome GmbH, Kudos, Inc. and Culture Amp Pty Ltd.
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