Global Employee Monitoring Solutions Market, By Component (Software, Professional Service), Solution (Standalone, Integrated), Enterprise Size (Small and Medium Enterprises, Large Enterprises), Application (System Monitoring, File Monitoring and Network Monitoring), Industry (BFSI, Education, Government and Defense, Hospitality, Healthcare and Life Sciences, Legal, Manufacturing, Retail, Telecom and IT, Energy and Utilities, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
The global employee monitoring system is becoming very popular across industries. Working remotely or from home has grown commonplace, and many businesses have used monitoring systems to keep an eye on employees. The market size is increased by the increasing usage of cutting-edge, more potent technology to supervise and manage employees. During the COVID-19 pandemic, remote work increased significantly, and many companies looked for measures to monitor employees. Monitoring tools are anticipated to increase as long as remote work tactics are used and office re-opening dates are postponed. The market is growing rapidly on a global scale because to the growing demand to monitor the business environment.
Global employee monitoring solutions market was valued at USD 487.44 million in 2021 and is expected to reach USD 1738.73 million by 2029, registering a CAGR of 17.23% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Report Scope and Market Segmentation
2022 to 2029
2020 (Customizable to 2014 - 2019)
Revenue in USD Million, Volumes in Units, Pricing in USD
Component (Software, Professional Service), Solution (Standalone, Integrated), Enterprise Size (Small and Medium Enterprises, Large Enterprises), Application (System Monitoring, File Monitoring and Network Monitoring), Industry (BFSI, Education, Government and Defense, Hospitality, Healthcare and Life Sciences, Legal, Manufacturing, Retail, Telecom and IT, Energy and Utilities, Others)
U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
Market Players Covered
InterGuard (U.S.), ActivTrak (U.S.), FairTrak (India), IMonitor Software (U.S.), Micro Focus (U.K.), Splunk Inc. (U.S.), WorkForce Software, LLC, (U.S), Workday, Inc, (U.S), Verint Systems Inc., (U.S.), dormakaba Group, (Switzerland), Rapid7 (U.S.), Forcepoint (U.S.), Securonix (U.S.), ObserveIT (U.S.), Imperva (U.S.), One Identity LLC (U.S.), LogRhythm, Inc. (U.S.), and SolarWinds Worldwide, LLC (Canada)
The employee monitoring software enables an organization or company to monitor and keep an eye on all their employees' computers from one location. It is typically set up over a business network and allows for simple centralized log viewing across a single network. Some businesses instead opt to use remote desktop monitoring software to keep tabs on their workers. Employee monitoring software is used to manage employee performance, assist in criminal activity, stop the leakage of private information, and identify insider risks.
Employee Monitoring Solutions Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
- Versatile Advantages Offered by Employee Monitoring Solutions
Employee monitoring technologies make employee tracking and other data collection possible, enabling businesses to increase efficiency and maintain security. Among other features, the employee monitoring systems offer activity analysis, intelligent rules and alerts, live views, monitoring keystroke logging, and file transfer tracking. Customers are becoming more price conscious in the current market environment, and they are placing more importance on the prompt delivery of goods and services. Companies are using employee monitoring systems as a result to increase efficiency and raise the organization's profile. Additionally, efficient employee monitoring makes a flexible work environment accessible to the employee. Additionally, using employee monitoring tools gives managers the ability to give employees useful feedback by allowing them to highlight areas for development and providing real-world examples which further boosts the demand for the market.
- Reducing Internal Dangers and Preventing the Enterprise Resource Exploitation
Organizations utilize employee monitoring systems as a surveillance tool to monitor employee email, phone, browsing, and social media usage, as well as total internet activity and remote device access. Companies in the BFSI, IT, telecom, and government sectors are especially vulnerable to insider assaults since they manage sensitive data including trade secrets, intellectual property, customer and employee data, among other things. The consumer, retail and wholesale, power and utilities, consumer, retail and wholesale, and financial services industries are the most vulnerable to a cyber-breach and insider misuse. Therefore, companies use employee monitoring tools to detect insider risks early and stop data leaks.
Furthermore, the factors such as the mounting usage of employee monitoring solutions by businesses in the BFSI, IT and telecom, and retail sectors accelerate the overall market expansion during the forecast period. Additionally, the demand for improved software solutions is expanding as employee fraud cases rise and internet access continues to improve. The increased adoption due to its simple, amiable, and stylish design coupled with the firms’ requirement to improve efficiency and achieve improved transparency will further positively impact the market's growth rate during the forecast period.
- Surging in Integration with Technologies
The increasing artificial technology integration with personnel monitoring systems is estimated to generate lucrative opportunities for the market, which will further expand the employee monitoring solutions market's growth rate. The market has beneficial potential to expand as a result of the integration of employee monitoring solutions with identity and access management and security management.
- Stringent Regulations and Compliances
Additionally, the presence of strict rules and compliances associated with the employee access and corporate security further offer numerous growth opportunities within the market. The various organizations strictly necessitate monitoring the employees, which largely favors the market’s growth.
- High Cost and Investments
The employee monitoring solutions demand significant levels of innovation cost. Many businesses, SMEs included, are concerned about their investments. Additionally, creating comprehensive security solutions is expensive, resulting in greater customer implementation costs. Budget constraints are becoming a significant hindrance to the market's expansion for employee computer monitoring software. The enterprise IT security initiatives are finding it difficult to be carried out effectively due to the cost factor, which is further expected to obstruct market growth over the forecast period.
- Risk Of Security Breach
The employee privacy becomes difficult to protect as various activities such as the emails, surfing history, phone activity and many other activities are monitored by employee surveillance software. The employee monitoring solutions market will experience growth restraints due to the significant danger of security breaches as the employee privacy becomes difficult to protect, which will deter various businesses from choosing employee monitoring systems. This factor is therefore estimated to be significant challenge for the employee monitoring solutions market over the forecast period.
Additionally, the market’s growth is also anticipated to be hampered by government measures to give thorough regulatory supervision over internet surveillance tools to ensure people have the right to privacy in workplaces or residences.
This employee monitoring solutions market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the employee monitoring solutions market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Employee Monitoring Solutions Market
The employee monitoring solutions market was positively impacted by the outbreak of COVID-19. The epidemic has benefited the market for personnel monitoring solutions by promoting worldwide industry-wide digitization and automation. Many businesses were forced to permit staff to work from home as a result of the lockdown regulations put in place to stop the COVID 19 outbreak. Utilizing online platforms and superior technologies enabled businesses to remain in business. The increased need for businesses to monitor employees who work from home further fueled the market for employee monitoring solutions. The popularity of remote and hybrid work has demonstrated how crucial it is to have an online system for tracking employees in real-time with accurate data. Many firms have realized the necessity to control workplace monitoring algorithms before it's too late as a result of the COVID-19 disruption. Many businesses implemented staff monitoring solutions to boost their usage of monitoring technologies. As a result, adoption of employee monitoring solutions market is estimated to experience exponential growth over the forecast period.
- In October 2021, Aware, a top provider of employee behaviour platform analyzers for chat platforms like Slack, announced financing US$60 MN in a series to support product development, sales initiatives, and hiring. Spring Mountain Capital, Goldman Sachs Growth Equity, Allos Ventures, Blue Heron Capital, Ohio Innovation Fund, Rev1 Ventures, and JobsOhio were the investment round's principal investors.
Global Employee Monitoring Solutions Market Scope
The employee monitoring solutions market is segmented on the basis of component, solution, enterprise size, application and industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Professional Service
- Productivity Suite
- Attendance Tracking
- Employee Tracking
- Activity Tracking
- Product Supervision and Management
- Surveillance Suite
- Small and Medium Enterprises
- Large Enterprises
- System Monitoring
- File Monitoring
- Network Monitoring
- Government and Defense
- Hospitality, Healthcare and Life Sciences
- Telecom and IT
- Energy and Utilities
Employee Monitoring Solutions Market Regional Analysis/Insights
The employee monitoring solutions market is analyzed and market size insights and trends are provided by country, component, solution, enterprise size, application and industry as referenced above.
The countries covered in the employee monitoring solutions market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the employee monitoring solutions market because of the high adoption of employee monitoring solutions by small and medium scale enterprises within the region over the forecast period of 2022 to 2029. Moreover, major market players are further estimated to accelerate the expansion over the forecast period.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to booming IT sector within the region. Moreover, the increased adoption of these solutions across BFSI and IT and telecommunication is a major contributor to the regional market expansion.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Employee Monitoring Solutions Market Share Analysis
The employee monitoring solutions market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to employee monitoring solutions market.
Some of the major players operating in the employee monitoring solutions market are
- InterGuard (U.S.)
- ActivTrak (U.S.)
- FairTrak (India)
- IMonitor Software (U.S.)
- Micro Focus (U.K.)
- Splunk Inc. (U.S.)
- WorkForce Software, LLC, (U.S.)
- Workday, Inc, (U.S)
- Verint Systems Inc., (U.S)
- dormakaba Group, (Switzerland)
- Rapid7 (U.S.)
- Forcepoint (U.S.)
- Securonix (U.S.)
- ObserveIT (U.S.)
- Imperva (U.S.)
- One Identity LLC (U.S.)
- LogRhythm, Inc. (U.S.),
- SolarWinds Worldwide, LLC (Canada)