Global Employee Monitoring Software Market Size, Share & Trends, COVID-19 Impact Analysis Report, By Type (Premises Employee Monitoring, Remote Employee Monitoring, and Others), By Features (Productivity Monitoring, Real-Time Alerts, User & Entity Behavior Analytics, Insider Risk/Insider Analysis, Internet Usage Monitoring, and Others), By Deployment Mode (Cloud Based, and On-Premises), By Industry Verticals (Finance Services, Healthcare, Technology Providers, Government, Manufacturing, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030Industry: Information & Technology
EMPLOYEE MONITORING SOFTWARE MARKET: OVERVIEW
The Global Employee Monitoring Software Market Size was valued at USD 1.12 billion in 2021 and is expected to reach USD 2.10 billion by 2030, growing at a CAGR of 7.2% during 2021-2030.
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Software for employee monitoring can record and monitor a worker's computer screen, chat, internet use, file operations, e-mail, and other activities. The system's hierarchical management structure enables departmental managers to keep an eye on and oversee the computers used by their teams. When large companies hire new employees, they must find a means to ensure that they receive the supervision, training, and assistance they require right away. While that may be a little out of the box for employee monitoring technology, it demonstrates that these solutions can be used in a variety of ways. These items are made to ensure that businesses obtain the productivity they anticipate from their workers. They also assist with the enforcement of data security policies and regulations, which are becoming increasingly critical now that firm data is as dispersed as the workforce that maintains it. Employee monitoring agents deployed on company machines provide total visibility and traceability into activities, especially for major firms that schedule thousands of shift workers in settings such as call centers, for example. Employee monitoring agents also compile crucial productivity statistics.
It is very clear that COVID-19 has impacted many companies around the world. Many companies have shut down their working culture. China is the biggest hub for software and its component development. Many companies from other countries are deeply interconnected with Chinese companies. The global IT and Software development industry felt the tremors from Covid-19 breakdown. During that period of COVID-19, preventive health measures were a greater priority than the software development. It has shaded the world with various pros and cons related to work. During the period of pandemic many technical supplies have been canceled, plus it is continuous in the same cons. Most of the largest brands in technology are dependent on Chinese as well as other countries' manufacturing hubs. Therefore, many factories are running with limited operations.
EMPLOYEE MONITORING SOFTWARE MARKET: TREND
Increasing Adoption of Cloud Technologies in Monitoring Software Propel Market Growth
Enterprises are continuing to embrace multi-cloud and hybrid cloud strategies and are boosting spend with vendors across the board, citing a higher-than-expected cloud utilization due to COVID-19 pandemic restrictions during 2020, according to the 2021 cloud computing trend results. The information in the research comes from the world's largest and longest-running survey of cloud infrastructure customers and decision makers. Their responses provide an in-depth look at cloud computing developments in 2021. The Covid-19 pandemic's forced lockdown and remote working were an unexpected reality check for businesses of all kinds. The pandemic's restrictions turned the world upside down, with industries like tourism and hospitality going bankrupt and countless businesses struggling to survive.
Global Employee Monitoring Software Market Report Coverage
|Market Size in 2021:||USD 1.12|
|Forecast Period 2021-2030 CAGR:||7.2%|
|2030 Value Projection:||USD 2.10|
|Historical Data for:||2017-2020|
|No. of Pages:||210|
|Tables, Charts & Figures:||120|
|Segments covered:||By Type, By Features, By Deployment Mode, By Industry Verticals, By Region, COVID-19 Impact Analysis|
|Companies Covered:||Teramind Inc., Veriato Inc, Workpuls, Inc, Awareness Technologies, BIRCH GROVE SOFTWARE, INC., Parasol Software Trading L.L.C, Nandini Infosys Pvt. Ltd., NetVizor, NesterSoft Inc, Time Doctor, LLC, Toggl Inc, EfficientLab LLC., SentryPC, Fair Trak, Wangya Computer Co., Ltd.|
|Growth Drivers:||1) Increasing Adoption of Cloud Technologies in Monitoring Software Propel Market Growth. 2) Growing Adoption of Employee Monitoring Software Drive Market Growth|
|Pitfalls & Challenges:||Privacy Concern of Employees Information Limit Market Growth|
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EMPLOYEE MONITORING SOFTWARE MARKET: DRIVERS
Growing Adoption of Employee Monitoring Software Drive Market Growth
Employee monitoring systems, it has been noted, are designed to give employers access to their employees' computers and cellphones in order to monitor the amount of time spent working on the Internet in order to improve productivity. Monitoring software links, reviewing E-mails, telephone use, video surveillance for security purposes, storing and reviewing computer files, video recording of employee job performance, recording and reviewing phone conversations, and storing and reviewing voice-mail messages are all examples of employee monitoring acts. This contradiction mandates the construction of a security system for all data collected by employers in order to prevent sensitive information from being stolen, especially by individuals outside the firm. In a similar line, modern information technologies enable companies to track employee work performance even if the individual is unaware of the monitoring. Employee performance is not driven by management, but rather by the people themselves, according to research. For example, ethical behavior involves not just the decisions and actions of an organization's authorities, but also every employee's behavior. They defined ethical behavior as the behaviors of individuals and groups, as well as the consequences of those actions.
Benefits Associated with Employee Monitoring Software
By exposing what team members are currently working on, employee monitoring software provides for early detection of problems. Employee monitoring software allows companies to direct employees to prioritize high-priority projects over low-priority projects they are currently working on. Employee monitoring allows to view what's going on in teams that are spread across time zones and align their actions. Employee monitoring software programs promote a better awareness of an employee's specific abilities, allowing for more informed work selection and delegation, as well as improved collaboration and employee understanding of his strengths. The level of trust between management and staff is raised, allowing everyone to see the big picture. With the right personnel monitoring software, one can concentrate on the important aspects of organization rather than dragging out minor tasks. Some of these apps, for example, include automatic payments and carefully controlled working hours, allowing for more effective payroll management. Intellectual property and trade secrets flying all over the place attract protracted legal fights and the end of careers or businesses.
EMPLOYEE MONITORING SOFTWARE MARKET: RESTRAINT
Privacy Concern of Employees Information Limit Market Growth
Employee privacy has become more concerned as a result of monitoring; as a result, companies must strike a balance between the benefits of monitoring and the costs of breaching employee privacy. However, the use of developing technology to monitor employee behavior is increasing worries that employees' private rights are being jeopardized, making it more difficult to strike a balance between corporate security and employee privacy concerns. As a result, major privacy issues are being debated in business and government, such as (a) violation of privacy: examining and retrieving private E-mails, records, and information about employees from their access to specific Internet websites; (b) computer monitoring: constantly knowing where the employee is; (c) computer matching: synthesizing information obtained from various sources to improve marketing services; and (d) unauthorized personnel. Employers were able to boost staff productivity while also jeopardizing employee privacy as a result of technological improvements.
EMPLOYEE MONITORING SOFTWARE MARKET: SEGMENTATION
The Global Employee Monitoring Software Market is segmented by Type, Features, Deployment Mode, Industry Verticals, and Region. Based on the Type, the market is categorized into Premises Employee Monitoring, Remote Employee Monitoring, and Others. Based on Features, the market is categorized into Productivity Monitoring, Real-Time Alerts, User & Entity Behavior Analytics, Insider Risk/Insider Analysis, Internet Usage Monitoring, and Others. Based on Deployment Mode, the market is categorized into Cloud-Based, and On-Premises. Based on Industry Verticals, the market is categorized into Finance Services, Healthcare, Technology Providers, Government, Manufacturing, and Others. Based on the Region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
MARKET SEGMENTATION: BY REGION
Based on the Region, the Global Employee Monitoring Software Market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
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The North America region is dominating the market share of the global employee monitoring software market owing to the demand for employee activity tracking systems is increased by the rising rate of employee fraud in the area. Nearly 33% of corporate bankruptcies in the United States are attributed to employee fraud, according to a statistical report provided by "CompareCamp" in May 2020. Organizations in the region would thus utilize the software to reduce the expanding employee fraud activities. The demand for employee monitoring software in the region is being further stimulated by the trend toward corporate mobility and remote working.
Europe is anticipated to be the second largest market for employee monitoring software due to Europe's highly developed corporate sector implementing workplace monitoring technologies that greatly expand the market. The main driver of the system's high demand throughout Europe is the fact that some European nations have legalized employee monitoring and surveillance. By protecting an individual's privacy, European employers have a legitimate interest in monitoring their employees' computers. Therefore, market growth in Europe would be driven by the established historical framework for personnel monitoring and surveillance.
The Asia Pacific region is anticipated to grow at the highest CAGR during the forecast period owing to the significant advancements in the IT and telecommunications sectors being seen in the Asia-Pacific region. The region is also seeing an increase in the outsourcing of various IT-based corporate operations. The adoption of sophisticated workplace monitoring and surveillance technologies would be influenced by the expanding number of IT enterprises. Additionally, a sharp increase in employee identity theft and other fraudulent actions would fuel a demand for employee monitoring and surveillance systems throughout Asia-Pacific.
EMPLOYEE MONITORING SOFTWARE MARKET: COMPETITIVE LANDSCAPE
Vendors are motivated to devote their resources to creating cutting-edge employee monitoring solutions by the business environment's intense competition. In order to create and grow their company network, vendors are implementing cutting-edge business tactics like alliances, collaborations, mergers, and acquisitions. Well-known businesses are actively working to deliver a diverse product portfolio to best suit needs. As the number of people working from home increases due to the COVID-19 epidemic, several businesses have begun to develop solutions for employee monitoring and surveillance. For instance, Teramind Inc. announced today the introduction of its cutting-edge suite of featured products and solutions in March 2020. These products and solutions assist businesses in making quick adjustments to manage a remote and distributed workforce.
EMPLOYEE MONITORING SOFTWARE MARKET: KEY PLAYERS
• Teramind Inc.
• Veriato Inc
• Workpuls, Inc
• Awareness Technologies
• BIRCH GROVE SOFTWARE, INC.
• Parasol Software Trading L.L.C
• Nandini Infosys Pvt. Ltd.
• NetVizor, NesterSoft Inc
• Time Doctor, LLC
• Toggl Inc
• EfficientLab LLC.
• Fair Trak
• Wangya Computer Co., Ltd.
EMPLOYEE MONITORING SOFTWARE MARKET: RECENT DEVELOPMENT
In January 2018, a new, free application and server monitoring program for small and medium-sized businesses was released according to Veriato, Inc. The software enables businesses to keep an eye on web, mail, and FTP servers as well as database accessibility and server health.
In July 2019, to safeguard their workers against malware attacks, Keeper Security, Inc. established the employee monitoring program known as "round-the-clock dark web surveillance". The software records the actions and web searches that the staff members take.
EMPLOYEE MONITORING SOFTWARE MARKET: REPORT OVERVIEW
The Employee Monitoring Software Market research report gives a thorough overview of the industry and focuses on important factors like the top manufacturers, product kinds, markets, and services. Additionally, it offers quantitative information in terms of quantity and value, market analysis, research methodology for market data, and insights into market trends for stainless steel. It also emphasizes significant market changes and the competitive environment. The study includes a number of aspects, in addition to those already mentioned, that have assisted in the market's expansion in recent years.
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