UK HR Analytics Market Research Report

UK HR Analytics Market Overview:

The UK HR analytics market is projected to exhibit a growth rate (CAGR) of 14.50% during 2024-2032. The increasing development of technology, significant role of AI and ML in HR analytics, and focus on employee satisfaction and engagement represent some of the key factors driving the growth of the market.

UK HR Analytics Market Trends:

Development of Technology for Decision Making

The market for HR analytics in the UK is rapidly growing because of technological developments and focus on data in organizations. The present generation of technological tools, including artificial intelligence (AI), machine learning (ML), and big data analysis makes it easier for the HR department to gather, process, and analyse large chunks of employee data. For instance, a survey of 1,174 HR bosses in the UK reveals that technology and data are employed to provide insight into the way that HR operates. It has also led to the creation of many new business roles and an increasingly integrated approach to utilizing big data in HR functions to efficiently manage professional services firms. They help organizations to analyse the patterns of workforce characteristics, returns on performance measures, and other prerequisites on organizational forecasting. The concept of big data has been proven to be a major driver in the field of the management of human resources, where it helps choose the key talent, resulting in reinvention of recruitment processes and increased engagement level of employees to transform them into efficient work force.

Rising Focus on Enhancing Employee Engagement

Another factor that also plays an important role in the development of the UK HR analytics market is the shifting trend towards the enhancement of employees’ satisfaction and engagement. For instance, over 60% of UK companies highlighted HR and people analytics adoption as key to business performance. An increasing proportion of businesses point to growing appetite to make HR and people analytics a higher priority with 21% saying they would like to deliver analytics solutions in the next 12 months, a sharp 15% increase in 2021 that happened last year. HR analytics tools include developmental trends that analyse staff satisfaction, supply and demand for employee retention, and the organizational climate within the business setting, hence allowing firms to make the necessary adjustments for the progression of human resource management. Through these analytics, it is possible to perform specific interventions for the improvement of employees’ well-being, design career advancement strategies that meet employees’ needs, and foster organizational conditions that support optimum performance, thereby minimizing turnover rates.

UK HR Analytics Market News:

• In April 2024, SD Worx, the leading European HR and payroll solutions provider, successfully closed the acquisition of Romanian Software S.R.L., the market leader in Romania for payroll and Human Capital Management (HCM) solutions.
• In March 2024, Alight, Inc., a leading cloud-based human capital and technology services provider, announced the first major release of Alight Worklife for 2024. The release introduces AI-powered workforce support, comprehensive benefits management, and holistic financial and wellbeing capabilities to improve the employee experience and help generate increased ROI for employers.
   

U.K. HR Analytics Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on component, deployment, enterprise size, and end use.

Component Insights:

• Solution
  • Employee Engagement and Development
  • Payroll and Compensation
  • Recruitment
  • Retention
  • Talent Analytics
  • Workforce Planning
  • Others
• Service
  • Implementation and Integration
  • Support and Maintenance
  • Training and Consulting
     

The report has provided a detailed breakup and analysis of the market based on the component. This includes [solution (employee engagement and development, payroll and compensation, recruitment, retention, talent analytics, workforce planning, and others), service (implementation and integration, support and maintenance, training and consulting)].

Deployment Insights:

• Hosted
• On-premises
   

A detailed breakup and analysis of the market based on the deployment have also been provided in the report. This includes hosted, on-premises.

Enterprise Size Insights:

• Large Enterprise
• Small and Medium Enterprise
   

The report has provided a detailed breakup and analysis of the market based on the enterprise size. This includes large enterprise, small and medium enterprise.

End Use Insights:

• Academia
• BFSI
• Information Technology
• Government
• Healthcare
• IT and Telecom
• Manufacturing
• Retail
• Others
   

A detailed breakup and analysis of the market based on the end use have also been provided in the report. This includes academia, BFSI, information technology, government, healthcare, IT and telecom, manufacturing, retail, and others.

Regional Insights:

• London  
• South East 
• North West 
• East of England 
• South West 
• Scotland 
• West Midlands 
• Yorkshire and The Humber 
• East Midlands 
• Others 
   

The report has also provided a comprehensive analysis of all the major regional markets, which include London, South East, North West, East of England, South West, Scotland, West Midlands, Yorkshire and The Humber, East Midlands, and Others.  

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

U.K. HR Analytics Market Report Coverage:

Key Questions Answered in This Report:

• How has the U.K. HR analytics market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the U.K. HR analytics market?
• What is the breakup of the U.K. HR analytics market on the basis of component?
• What is the breakup of the U.K. HR analytics market on the basis of deployment?
• What is the breakup of the U.K. HR analytics market on the basis of enterprise size?
• What is the breakup of the U.K. HR analytics market on the basis of end use?
• What are the various stages in the value chain of the U.K. HR analytics market? 
• What are the key driving factors and challenges in the U.K. HR analytics?
• What is the structure of the U.K. HR analytics market and who are the key players?
• What is the degree of competition in the U.K. HR analytics market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the U.K. HR analytics market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the U.K. HR analytics market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the U.K. HR analytics industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.