The global Employee Advocacy Tool Market is estimated to be valued at US$ 1.2 Bn in 2023 and is expected to exhibit a CAGR of 22.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Employee advocacy tools enable employees to share organizational content on their personal social media profiles to expand an employer’s social media presence. Such tools provide access to pre-approved blogs, articles, photos and videos from the organization that employees can easily share on social platforms. This helps companies strengthen personal recommendations.
Market key trends:
One of the key trends fueling the growth of the employee advocacy tool market is the growing popularity of social selling. Social selling refers to leveraging social media platforms to generate sales leads and transactions for a business. As more companies encourage their employees to participate in social selling, they are demanding advocacy tools that simplify content sharing and promotion across various networks. Rapid digitization and rise of remote working culture has also increased the demand for such tools that help companies expand outreach through existing employee networks in a structured manner.
Segment Analysis
The global employee advocacy tool market is segmented based on component, organization size, end-user, and region. Based on component, the market is divided into software and services. The software segment is expected to dominate the market as it provides enhanced features such as employee engagement tracking, employee feedback, social publishing, and content curation. Based on organization size, the market is classified into small & medium enterprises and large enterprises. The large enterprises segment holds a major market share due to high adoption of employee advocacy tools for promoting employer brand and driving employee engagement.
Key Takeaways
Market size:
The Global Employee Advocacy Tool Market Size is expected to witness high growth, exhibiting a CAGR of 22% over the forecast period from 2023 to 2030, due to increasing need to improve employee engagement and drive brand awareness.
Regional analysis:
North America is expected to dominate the global employee advocacy tool market during the forecast period. This is attributed to presence of major player in the region and increasing adoption of employee advocacy software by organizations to improve engagement. Asia Pacific is expected to exhibit the fastest growth during the forecast period owing rapid digitalization and economic development in emerging countries such as China and India.
Key players:
Key players operating in the employee advocacy tool market are EveryoneSocial, Hootsuite, Sociabble, PostBeyond, Dynamic Signal, Sociabble, MarketBeam, Bambu by Sprout Social, Influitive, GaggleAMP, Rallyware, Ambassify, DrumUp, SocialChorus, Speakap, PostBeyond, Dynamic Signal, Sociabble, Bambu, Influitive. These players are focusing on offering enhanced features and emphasizing on portfolio expansion to gain competitive edge in the market.
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