Market Overview:
The global social employee recognition systems market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for cloud-based social employee recognition systems and the growing trend of using gamification techniques for employee recognition. North America is expected to hold the largest share of the global social employee recognition systems market in 2018, followed by Europe and Asia Pacific. However, Asia Pacific is projected to witness the highest CAGR during the forecast period due to rising adoption of digital technologies in this region.
Product Definition:
A social employee recognition system is a platform that allows employees to recognize and reward one another for their accomplishments. The importance of social employee recognition systems is that they help create a culture of recognition in which employees feel appreciated for their contributions. This can lead to higher levels of motivation and engagement, and improved productivity.
On-Premise:
On-premise software is a standalone system or an internal web-based application. It is installed and operated from the same physical location where the server operates. The software can be used by multiple organizations connected through a network, however; it needs to be purchased for each organization separately. On-premise software solutions are generally used by large enterprises that have complex workforces and need to manage employee records such as time & attendance, leave management, payroll administration among others.
Cloud:
Cloud and it's usage in social employee recognition systems market is a software as a service (SaaS) based platform that helps organizations to recognize employees easily. It also provides an automated system for recording employee data, which includes performance reviews, monthly accolades, etc., making it easier for the organization to track their progress. The cloud-based platform also allows managers to create multiple user accounts with different configurations and access information from any device connected to the network such as mobile or laptop.
Application Insights:
The retail and consumer goods segment accounted for the largest revenue share in 2016. The implementation of social recognition systems has become a must in this industry to maintain employee relations. Companies such as JCPenney, Sephora, and Groupon have implemented SRS to recognize employees for customer-based achievements. Furthermore, companies are also using these systems at the time of promotion or transfer of an employee where it is required to create a history of that particular transaction. This helps in analyzing sales trends and identifying areas where improvements can be made with respect to product sales performance or marketing campaigns effectiveness among other things which is driving its adoption across various industries globally.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to retain its dominance over the forecast period as well due to increasing adoption of employee recognition solutions by enterprises for enhancing workplace satisfaction and reducing recruitment costs. In addition, growing focus on employee engagement is also expected to drive regional growth over the next eight years.
Asia Pacific is anticipated to witness significant growth during the forecast period owing to rising number of small & medium enterprises (SMEs) in this region. SMEs are considered as a key segment for social recognition applications owing to their need for effective recognition and rewards programs that can help them attract top talent and keep up with competition globally, thereby driving demand across various industry verticals such as manufacturing, healthcare & life sciences, IT/ telecom services).
Growth Factors:
- Increasing demand for employee recognition and motivation programs from organizations to improve productivity and performance
- Proliferation of social media platforms that help in easy recognition of employees' work
- Growing trend of using gamification techniques to encourage employees' participation in the recognition program
- Emergence of big data and analytics that helps identify high-performing employees and understand their behavior patterns
- Increased focus on workforce diversity and inclusion that encourages organizations to develop a formalized employee recognition system
Scope Of The Report
Report Attributes
Report Details
Report Title
Social Employee Recognition Systems Market Research Report
By Type
On-Premise, Cloud
By Application
Healthcare, Manufacturing, IT and Telecom, Travel and Hospitality, Retail and Consumer Goods, Media and Entertainment, Others
By Companies
GloboForce Ltd, SalesForce.Com, Reffind Ltd, Achievers Corporation, Kudos, Madison, Vmware, Recognize Services, Jive Software, BI Worldwide
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
186
Number of Tables & Figures
131
Customization Available
Yes, the report can be customized as per your need.
Global Social Employee Recognition Systems Market Report Segments:
The global Social Employee Recognition Systems market is segmented on the basis of:
Types
On-Premise, Cloud
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Healthcare, Manufacturing, IT and Telecom, Travel and Hospitality, Retail and Consumer Goods, Media and Entertainment, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- GloboForce Ltd
- SalesForce.Com
- Reffind Ltd
- Achievers Corporation
- Kudos
- Madison
- Vmware
- Recognize Services
- Jive Software
- BI Worldwide
Highlights of The Social Employee Recognition Systems Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- On-Premise
- Cloud
- By Application:
- Healthcare
- Manufacturing
- IT and Telecom
- Travel and Hospitality
- Retail and Consumer Goods
- Media and Entertainment
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Social Employee Recognition Systems Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Social employee recognition systems are a way to recognize and reward employees for their contributions to the organization. These systems can be used to recognize employees for their outstanding work performance, customer service skills, or other achievements. Recognition may take the form of awards, bonuses, privileges, or other benefits.
Some of the major companies in the social employee recognition systems market are GloboForce Ltd, SalesForce.Com, Reffind Ltd, Achievers Corporation, Kudos, Madison, Vmware, Recognize Services, Jive Software, BI Worldwide.
The social employee recognition systems market is expected to register a CAGR of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Social Employee Recognition Systems Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Social Employee Recognition Systems Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Social Employee Recognition Systems Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Social Employee Recognition Systems Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Social Employee Recognition Systems Market Size & Forecast, 2020-2028
4.5.1 Social Employee Recognition Systems Market Size and Y-o-Y Growth
4.5.2 Social Employee Recognition Systems Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 On-Premise
5.2.2 Cloud
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Healthcare
6.2.2 Manufacturing
6.2.3 IT and Telecom
6.2.4 Travel and Hospitality
6.2.5 Retail and Consumer Goods
6.2.6 Media and Entertainment
6.2.7 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Social Employee Recognition Systems Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Social Employee Recognition Systems Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 On-Premise
9.6.2 Cloud
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Healthcare
9.10.2 Manufacturing
9.10.3 IT and Telecom
9.10.4 Travel and Hospitality
9.10.5 Retail and Consumer Goods
9.10.6 Media and Entertainment
9.10.7 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 On-Premise
10.6.2 Cloud
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Healthcare
10.10.2 Manufacturing
10.10.3 IT and Telecom
10.10.4 Travel and Hospitality
10.10.5 Retail and Consumer Goods
10.10.6 Media and Entertainment
10.10.7 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 On-Premise
11.6.2 Cloud
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Healthcare
11.10.2 Manufacturing
11.10.3 IT and Telecom
11.10.4 Travel and Hospitality
11.10.5 Retail and Consumer Goods
11.10.6 Media and Entertainment
11.10.7 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 On-Premise
12.6.2 Cloud
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Healthcare
12.10.2 Manufacturing
12.10.3 IT and Telecom
12.10.4 Travel and Hospitality
12.10.5 Retail and Consumer Goods
12.10.6 Media and Entertainment
12.10.7 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 On-Premise
13.6.2 Cloud
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Healthcare
13.10.2 Manufacturing
13.10.3 IT and Telecom
13.10.4 Travel and Hospitality
13.10.5 Retail and Consumer Goods
13.10.6 Media and Entertainment
13.10.7 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Social Employee Recognition Systems Market: Competitive Dashboard
14.2 Global Social Employee Recognition Systems Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 GloboForce Ltd
14.3.2 SalesForce.Com
14.3.3 Reffind Ltd
14.3.4 Achievers Corporation
14.3.5 Kudos
14.3.6 Madison
14.3.7 Vmware
14.3.8 Recognize Services
14.3.9 Jive Software
14.3.10 BI Worldwide
