The Worldwide Employee Engagement Software Market is Projected to reach USD 2.6 Billion by 2029, at a CAGR of 17.7%

Published Date: 26-May-2023

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Employee Engagement Software Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Employee Engagement Software Market size is expected to reach $2.6 billion by 2029, rising at a market growth of 17.7% CAGR during the forecast period.

The Healthcare segment is showcasing a CAGR of 18.4% during (2023 - 2029). This is due to the need for the increased emphasis placed on the security and contentment of patients, the employee engagement software is anticipated to be fueled. The need to maintain the workforce to smoothly and efficiently while also operating the daily work in the healthcare industry at a rapid pace is expected to surge the segment's growth during the projected period.

The Large Enterprises segment acquired maximum revenue share in the Global Employee Engagement Software Market by Enterprise Size in 2022 thereby, achieving a market value of $1.6 billion by 2029. This is because of the presence of a large number of culturally and geographically diverse personnel. Businesses with several locations need help comprehending and engaging their staff seamlessly. This will undoubtedly increase the demand for software among major organizations and thereby surging the segment's expansion.

The Cloud segment has shown the growth rate of 19.3% during (2023 - 2029). This is because of its quick customization, teamwork, and process integration, the cloud is expected to experience rapid growth. Through this implementation, the companies can successfully increase employee engagement activities that provide real-time analysis and services. Increased organizational efficiency, staff retention, improved employee recognition and transparency in employee evaluation, and improved communication are just a few of the factors driving growth for the segment.

The Collaboration & Interaction segment is leading the Global Employee Engagement Software Market by Function in 2022 thereby, achieving a market value of $814 million by 2029. This is due to the employee's ability to improve their decision-making capacities and increase their productivity which can be facilitated through real-time communication. The software assists workers and managers in determining, in real-time, how each individual truly feels at any given moment. When workers are made to feel more invested in their jobs, they are more likely to contribute to the expansion and success of the company in which they work.

The North America market dominated the Global Employee Engagement Software Market by Region in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $953.8 million by 2029. The Europe market is exhibiting a CAGR of 17.5% during (2023 - 2029). Additionally, The Asia Pacific market would showcase a CAGR of 18.3% during (2023 - 2029).

Full Report:

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.

Global Employee Engagement Software Market Segmentation

By Vertical

  • Telecom & IT
  • Healthcare
  • Retail
  • Government
  • Manufacturing
  • BFSI
  • Hospitality
  • Others

By Enterprise Size

  • Large Enterprises
  • Small & Medium Enterprises

By Deployment Type

  • On-premise
  • Cloud

By Function

  • Collaboration & Interaction
  • Training
  • Onboarding
  • Customer Service
  • Rewards & Recognitions
  • Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Companies Profiled

  • 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.
  • Culture Amp Pty Ltd.

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Related Reports:

North America Employee Engagement Software Market size & Opportunities 2023-2029

Europe Employee Engagement Software Market & Growth Forecast 2023-2029

Asia Pacific Employee Engagement Software Market Share & Industry Outlook to 2029

LAMEA Employee Engagement Software Market Growth, Trends & Forecasts 2023-2029

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