Press Release / Technology / Employee Monitoring Solution Market 2019 Receives a Rapid Boost in Economy due to High Emerging Demands by Forecast to 2023

Employee Monitoring Solution Market 2019 Receives a Rapid Boost in Economy due to High Emerging Demands by Forecast to 2023

Employee Monitoring Solution Market Synopsis:
The global employee monitoring solution market is expected to register a CAGR of 22.6% during the forecast period to reach USD 3.84 billion by 2023.
Employee monitoring solutions enable an enterprise to track the activities of employees. The enterprise is able to monitor employee engagement with workplace-related tasks. Enterprises can measure productivity, ensure security, track attendance, and gather proof of hours worked using these solutions. The data collected by these solutions are used in better decision-making and increasing overall productivity. The enterprises determine employee salary, optimize team size, tool-kit, and work process with these solutions.
The major factor contributing to market growth is the growing need for better management of the workforce. Stringent regulatory compliances regarding access and security are also aiding Employee Monitoring Solution Market growth. Additionally, the increasing need among organizations to optimize employee productivity is also expected to drive the market. However, concerns regarding employee privacy are expected to restrain market growth during the forecast period. The integration of employee monitoring solutions with identity and access management (IAM) and security incident and event management (SIEM) and increasing adoption of employee monitoring solutions across verticals offer lucrative opportunities to the key providers of employee monitoring solutions in the global market.
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Major Key Players:

InterGuard (US),
Birch Grove Software, Inc. (US)
FairTrak (India)
Netsoft Holdings, LLC (US)
IMonitor Software (US)
Micro Focus (UK)
Splunk Inc. (US)
Rapid7 (US)
Forcepoint (US)
Securonix (US)
ObserveIT (US)
Imperva (US)
One Identity LLC. (US)
LogRhythm, Inc. (US)
SolarWinds ULC (Canada)

Segmentation:
The global employee monitoring solution market has been segmented based on component, deployment, organization size, type, application, vertical, and region/country.

By component, the global employee monitoring solution market has been divided into solution and service.
Based on deployment mode, the global employee monitoring solution market has been classified as on-premise and cloud.
Based on organization size, the global employee monitoring solution market has been divided into small and medium-sized enterprises (SMEs) and large enterprises.
The type segments of the global employee monitoring solution market are standalone and integrated. The standalone segment has been further divided into productivity suite, project supervision and management, and surveillance suite.
The application segments of the global employee monitoring solution market system monitoring, application monitoring, file monitoring, network monitoring, and database monitoring.
On the basis of vertical, the global employee monitoring solution market has been divided into banking, financial services and insurance (BFSI), retail, government and defense, healthcare and life sciences, energy and utilities, manufacturing, telecommunication & IT, and others.
The global employee monitoring solution market has been analyzed for four regions—North America, Europe, Asia-Pacific, and the rest of the world.

Competitive Analysis:
The presence of a large number of vendors in the employee monitoring solution market from different parts of the world intensifies the competition in the market. These vendors are increasingly focusing on offering innovative solutions and services and thus making significant investments in their research & development (R&D) activities.
Solution launches, service enhancement, and partnerships are the major strategies adopted by the vendors in the employee monitoring solution market to cater to the diverse requirements of the clients and penetrate new regions.
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Regional Analysis:
The global market for employee monitoring solution is estimated to grow at a CAGR of 22.6% during the forecast period from 2018 to 2023. The geographical analysis of the market is done for North America, Europe, Asia-Pacific, and the rest of the world.
North America is expected to be the dominating region in terms of adoption of employee monitoring solutions. The North American market has been segmented into the US, Canada, and Mexico. The growth of the market in North America can be attributed to the high adoption of advanced technologies in day to day business activities and across all industry verticals. The US is the leading country-level market while the Mexican market is projected to be the fastest-growing during the forecast period.
The European market has been divided into the UK, Germany, France, and the rest of Europe. In terms of market size, the market in Europe is expected to be the second-largest. Stringent regulatory compliances regarding access and security of employees and the need for enhanced control over employees are driving market growth in Europe. The UK is the leading country-level market and the market in Germany is expected to register the highest growth rate during the forecast period.
Asia-Pacific is anticipated to be the fastest growing market in the global employee monitoring solution market over the forecast period. The regional market has been segmented into China, Japan, India, and the rest of Asia-Pacific. The growing BFSI and IT and telecommunication sector and increasing use of digital technologies to monitor employees are the key driving factors for the growth of employee monitoring solutions in the region.
The rest of the world regional market has been segmented into South America and the Middle East & Africa. These regions are expected to offer numerous opportunities to vendors as the majority of the countries are yet to adopt employee monitoring solutions.
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Intended Audience:

Employee monitoring solution vendors
Systems integrators
Cloud services providers
Government organizations
Distributors and Value-Added Resellers (VARs)
Investors and venture capitalists
Market consultants
Compliance officers
Regulators
System Integrators
Chief Financial Officers

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