Global Employee Monitoring Solution Market Size to Reach USD 20.46 Billion in 2032 | Emergen Research

Global Employee Monitoring Solution Market Sees Steady Growth, Driven by Demand for Productivity and Technological Advancements

Vancouver, Oct. 30, 2023 (GLOBE NEWSWIRE) — The global employee monitoring solution market size was USD 10.95 Billion in 2022 and is expected to register a revenue CAGR of 6.4% during the forecast period. This growth is fueled by the increasing need for tracking employee productivity, preventing internal resource misuse, and the integration of advanced technologies in organizations. The rising demand for identifying employee productivity and accountability is a major driver behind the market’s revenue growth. Employee monitoring systems have gained popularity across various industries, with an increasing adoption rate, despite some opposition from employees. By 2025, it is predicted that 70% of large employers will monitor their workers, up from 60% in 2021. Businesses offering remote work options must establish ways to safeguard their assets while maintaining employee trust.

Technological advancements in the digital era also play a significant role in boosting market revenue. Employee monitoring software enables real-time tracking of employees’ activities, from keystrokes and browsing habits to emails and chat applications. This technology enhances efficiency, transparency, and employee flexibility. Additionally, it allows managers to provide employees with constructive feedback, promoting a high demand for such solutions.

 Ensuring transparency in employee monitoring practices is crucial to protect both employees and businesses, with legal regulations in place. The market faces challenges, including the high cost of implementation and concerns about security breaches. The cost of employee monitoring solutions varies depending on the features and size of the organization, which can be a budget constraint for some businesses. Furthermore, the risk of security breaches and the need for regulatory oversight to protect employee privacy are concerns that might deter businesses from adopting these solutions.

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The market is divided into standalone and integrated solutions, with standalone solutions accounting for the majority of revenue in 2022. These solutions provide employers with valuable insights into how employees utilize their time, ensuring adherence to company policies and improving accountability. They are often preferred by Small and Medium-sized Enterprises (SMEs) based on their monitoring needs.

Integrated solutions, on the other hand, are chosen by companies looking to use cutting-edge technology to enhance various aspects of their business, such as improving visitor flow and experience. They encompass a wide range of features, including email monitoring and reporting capabilities, making them a choice for compliance and efficiency.

Large enterprises dominated the market in 2022, leveraging employee monitoring solutions to improve productivity, enhance transparency, and detect insider threats. These solutions empower managers to access team data, analyze performance, and customize productivity labels based on project requirements.

Small and medium enterprises also see significant benefits in employee monitoring, using it for security, productivity enhancement, quality control, data protection, and performance tracking. The adoption of these solutions is driven by the need to ensure efficiency and accountability.

The Banking, Financial Services, and Insurance (BFSI) sector led the market in 2022 due to its focus on innovation, expanding distribution, and customer knowledge. Legal requirements in this industry also mandate the use of monitoring software to assess employee work activity and attentiveness. The government sector accounted for a substantial share of the revenue in 2022, with a pressing need for real-time employee monitoring to protect vital information and reduce insider threats. Government departments and municipalities use employee tracking to improve service quality and quickly address performance issues.

North America, particularly the United States, led the market in 2022. The region’s laws permit employers to monitor their employees for business purposes. This practice is embraced by businesses of all sizes to avoid early-stage mistakes and improve productivity.

Europe also displayed significant adoption of employee monitoring solutions, with countries like the United Kingdom allowing monitoring for reasonable work-related grounds. In the Asia Pacific region, India saw the highest adoption rate due to the growth of IT-driven outsourcing and the increasing need to combat employee data theft and fraudulent activities.

This press release summarizes the key findings from a market research report on the global employee monitoring solution market. As the market continues to evolve, businesses are recognizing the importance of employee monitoring solutions to enhance productivity, security, and transparency.

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Scope of Research

Major Companies and Competitive Landscape

The global employee monitoring solution market is fragmented with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective employee monitoring solutions. Some major players included in the global employee monitoring solution market report are:

• Teramind
• SoftwareSuggest
• InterGuard
• EfficientLab
• Micro Focus
• WE360 ai
• Rapid7
• Forcepoint
• Splunk Inc.
• Nextthink
• Imperva
• Securonix
• Logrhythm Inc.
• SolarWinds ULC
• One Identity LLC
• Codework Limited
• iMonitor Software Inc.
• Atom Security Inc.
• SentryPC
• Veriato Inc.

Strategic Development

• In March 2022, Recenturesoft launched WorkTrackZilla. WorkTrackZilla is a next-generation remote employee tracking program that analyses employee productivity throughout working hours. This monitoring software is safe, adaptable, and simple to use. It provides a time-tracking solution for tracking individual employees’ or the full team’s working hours.
• In March 2020, Teramind Inc., a leading global provider of employee monitoring, data loss prevention, and workplace productivity solutions, announced the release of its latest suite of products, which includes numerous new modules and capabilities to assist businesses in quickly adapting to managing remote, distributed teams. Teramind intends to quickly equip organizations to solve these difficulties by assisting them in maintaining productivity, communication, and security across a scattered team with its updated product lineup, which already services over 2,000 Small and Midsize Businesses (SMBs) and corporations alike.

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For the purpose of this report, Emergen Research has segmented the global employee monitoring solution market on the basis of component, deployment mode, solutions, enterprise size, industry, and region:

• Component Outlook (Revenue, USD Billion; 2019-2032)
  • Software
  • Professional Service
• Deployment Mode Outlook (Revenue, USD Billion; 2019-2032)
  • On-Premise
  • Cloud
• Solutions Outlook (Revenue, USD Billion; 2019-2032)
  • Standalone
  • Integrated
• Enterprise Size Outlook (Revenue, USD Billion; 2019-2032)
  • Small Enterprises and Medium Enterprises
  • Large Enterprises
• Industry Outlook (Revenue, USD Billion; 2019-2032)
  • BFSI
  • Education
  • Government
  • Defense
  • Legal
  • Healthcare and Hospitality
  • Manufacturing
  • Retail
  • Energy and Utilities
  • Others
• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. Benelux
    7. Russia
    8. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. India
    5. ASEAN Countries
    6. Oceania
    7. Rest of APAC
  • Latin America
    1. Brazil
    2. Mexico
    3. Rest of LATAM
  • Middle East & Africa
    1. GCC Countries
    2. Israel
    3. Turkey
    4. South Africa
    5. Rest of MEA

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