The expansion of the employee onboarding software industry is being driven by the smooth transition for new hires made possible by the software. During the forecast period, the tool’s integration with other enterprise resource planning software (ERPS) such as recruiting processes, training tools, and so on is expected to boost demand for employee onboarding software. Paper costs and waste are significantly reduced by using employee onboarding software. The sustainability aspect linked with the employee onboarding software business is predicted to significantly stimulate the market today, when the planet is facing persistent and extensive concerns of climate change.
The global employee onboarding software market had a revenue of US$ 772.6 million in 2018 and is expected to reach US$ 2,190.2 million by 2027, growing at a CAGR of 12.2 percent over the forecast period.
The comprehensive research study examines the global Employee Onboarding Software Market in both qualitative and quantitative terms. The employee onboarding software market has been studied from both the demand and supply sides. The demand side research looks at market revenue in different regions and then across all of the key countries. The supply side study looks at the primary competitors in the industry, as well as their regional and worldwide presence and strategy. Each of the major countries in North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America is studied in depth.
The technical and business perspectives of the employee onboarding software sector are examined in this professional and specialist report study. The research includes a historical overview of the industry as well as predictions for future trends in the employee onboarding software market. To acquire a comprehensive view of the global and regional employee onboarding software markets, the report analysis examines market statistics at both the global and regional levels. From 2016 to 2019, historical insights are offered, as well as forecasted trends from 2020 to 2026. For the years 2016 through 2026, quantifiable data is provided in terms of volume (units) and value (USD million). The qualitative data is bolstered by an examination and presentation of a variety of market characteristics (directly or indirectly affecting the sector), such as growth drivers, restraints, challenges, and opportunities.
In this report, we used a variety of industry analysis models to highlight the important business strategies and competitive landscape of the employee onboarding software market.
Our research also takes a look at Porter’s Five Forces framework to better understand the competitive strategies used by various players along the employee onboarding software value chain. PESTLE analysis and SWOT analysis are also included.
The research also includes an in-depth study of each industry player’s market share as well as an overview of key players’ market positions in the employee onboarding software market. Furthermore, the study covers new product releases, acquisitions and mergers, collaborations and joint ventures, funding and venture capital activities, agreements, partnerships, R&D activities, and regional growth of key competitors in the employee onboarding software market.
In an organisation, onboarding is also known as socialising. Onboarding is a process by which a new employee gets the necessary skills and information to understand the organization’s operations. Employee onboarding solutions streamline the process of onboarding new employees in a company. Employee onboarding solutions make the hiring manager’s job easier by reducing the amount of administrative work he or she has to do. Onboarding software makes it easier for new workers to adjust to their new position. As a result, employee onboarding software streamlines the process by combining the onboarding process and minimising paperwork into a single interface. Employee onboarding software enables communication between the company and the new employee to begin before the first day of work. These onboarding tools assist employees in becoming more creative and integrating into their respective teams more quickly. It aids new employees in forming positive relationships with their coworkers. Employee onboarding solutions also assist new employees in acclimating to their new workplace. Other team members can contact with newly hired employees and assist them with the organization’s induction or orientation programme.
The digitalization of enterprises is driving the employee onboarding solutions market in numerous regions, including developing countries like India, China, and South Africa. The adoption of new technology by businesses to reduce paperwork is another important reason driving the growth of the employee onboarding solutions market. Employee onboarding solutions aid in the reduction of an organization’s workforce-related costs. Furthermore, the organization’s employees are offered work-life balance and flexible working hours. Many firms’ adoption of automation aids in propelling the employee onboarding solutions market along growth paths. Employee onboarding assists employees in becoming familiar with the organization’s environment and adapting to it fast and readily. Bring Your Own Device (BYOD) is also encouraging the adoption of employee onboarding solutions because new workers have the ability to carry their devices and access team and company data and information regardless of location or time.
Employee onboarding solutions are segmented by component, deployment type, enterprise size, industry, and geography in the global market. Software and services make up the component section of the employee onboarding solutions market. Consulting, training, and support and maintenance are the three subcategories of the services segment. The deployment type segment is divided into cloud and on-premise deployments. Small, medium, and large enterprises make up the enterprise segment of the employee onboarding solutions market. IT, telecommunications, university and education, retail & wholesale, manufacturing, and banking and finance make up the industry section of the employee onboarding solutions market.