Employee Monitoring Solution Market Research Report: by Component (Software, Service), Type (Standalone, Integrated), Application (System Monitoring, File Monitoring, Network Monitoring), Vertical (Retail, Healthcare, Energy) — Global Forecast till 2023
Market Highlights
The global employee monitoring solution market has been segmented based on component, deployment, organization size, type, application, and vertical.
By component, the global employee monitoring solution market has been divided into solution and service. The solutions segment is expected to account for the larger market share during the forecast period.
Based on deployment mode, the global employee monitoring solution market has been classified as on-premise and cloud. The cloud deployment mode segment is expected to be the larger market, register the higher growth rate during the review period.
The organization size segments of the global employee monitoring solution market are small and medium-sized enterprises (SMEs) and large enterprises. The large enterprises segment is expected to dominate the market.
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 and IT and others. The telecommunication and IT segment is expected to be the largest, while the BFSI segment is projected to register the highest CAGR during the forecast period.
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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.
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), and SolarWinds ULC (Canada) are the key players in the employee monitoring solution market.
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