December 04, 2019
According to the latest study titled ‘Employee Monitoring Solution Market to 2027 - Global Analysis and Forecasts by Offering (Solution, and Service), Enterprise Size (Small & Medium Enterprise, and Large Enterprise), Industry Vertical (BFSI, Government, IT & Telecom, Manufacturing, Retail, and Others)’ available with Market Study Report LLC, the global employee monitoring solution market is estimated to accumulate US $1,322.42 million by the year 2027.
Employee monitoring solutions (EMS) are designed to facilitate organizations to track employees and gather their activity information to enhance productivity and ensure security. Rising adoption of these solutions across various enterprise in order to optimize operations is propelling the growth of employee monitoring solution market.
Furthermore, surging popularity of social media platforms and booming internet users have contributed towards an increase in the usage of the internet for non-work related activities. Deployment of surplus employees in enterprises of different sizes over different locations makes it challenging to keep the track of employees. With incorporation of employee monitoring solutions, it becomes feasible to track internet usage and detect insider threats, which will augment the growth of EMS industry.
According to the study, employee monitoring solution market was worth US $724.81 million in 2018 and is expected to register a growth rate of 7.1% over the forecast time period.
Based on enterprise size, employee monitoring solution market is segmented into small & medium enterprise (SMEs), and large enterprise. The report cites that of all the businesses worldwide, 90% are SMEs and accounts for 50% employment. EMS market from SMEs segment is presumed to experience noteworthy growth over the forecast period. This growth can be accounted to the availability of advanced cost-effective solutions which enable SMEs to improve employee efficiency and multiply their profits.
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Considering the geographical landscape, Asia Pacific dominated the global employee monitoring solution market in 2018 and is presumed to register accelerated growth over the analysis timeline, pertaining to significant presence of IT & telecom industries across the region. The emerging trend of IT-based business operation outsourcing, coupled with booming SMEs across Southeast Asian and Chinese regions will further induce the regional market growth.
Some of the vendors that operate in employee monitoring solution market are Birch Grove Software, Inc., Awareness Technologies, Fair Trak, iMonitor Software, Inc., Hubstaff, EfficientLab LLC, Atom Security, Inc., SentryPC, Clouds Dubai, and Teramind, Inc. among others.
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