Social Employee Recognition Systems Market, By Deployment, By Enterprise Size, By Industry, By Geography

PUBLISHED: June 19, 2024

PAGES: 170 Pages

DELIVERY TIME: 2-3 business days

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Description

The global social employee recognition systems market is estimated to be valued at US$ 13.27 bn in 2024 and is expected to reach US$ 28.72 bn by 2031, exhibiting a compound annual growth rate (CAGR) of 11.7% from 2024 to 2031.

Figure 1. Social Employee Recognition Systems Market Share (%), By Region, 2024

Social Employee Recognition Systems Market - IMG1

The global social employee recognition systems market has seen significant growth in recent years as companies are increasingly acknowledging the importance of recognizing employee efforts and contributions. A recognition system provides an easy platform for companies to appreciate their workers through rewards, incentives, and other social acknowledgments. This helps boost employee morale and engagement levels. With the growing hybrid work culture, social features on recognition platforms play a key role in making remote employees feel valued and connected to their organization. Advanced analytical capabilities on these systems also help management track productivity metrics and performance trends. Global Social Employee Recognition Systems Market is expected to further expand with more organizations implementing such solutions to cultivate a culture of appreciation in the workplace.

Market Dynamics:

The global social employee recognition systems market is driven by the need for companies to retain top talent and maximize employee engagement and productivity. As the hybrid work model becomes more prominent, such platforms help remote employees feel part of the larger organizational culture through social interactions. However, high implementation and maintenance costs of these specialized solutions act as a restraint. Advancements in technologies like Artificial Intelligence (AI) and analytics present an opportunity for vendors to incorporate more powerful analytical tools that assist management with real-time visibility into performance indicators. Furthermore, integrating recognition systems with other HR platforms allows automated reward disbursement, eliminating manual efforts. The market also faces challenge from open-source and free recognition apps, which provides basic features.

Key Features of the Study:

This report provides an in-depth analysis of the global social employee recognition systems market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year.
It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the global social employee recognition systems market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include Achievers, BambooHR, Bonusly, Culture Amp, Emplify, Engagedly, Globoforce, Kazoo, Kenexa, Kudos, Motivosity, Nectar, Peerboard, Peanut Butter Bots, Qatalog, Reward Gateway, Sodexo Engage, Soylent, Terryberry, and Workstars.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
The global social employee recognition systems market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global social employee recognition systems market.

Detailed Segmentation:

By Deployment
- Cloud
- On-Premise
By Enterprise Size
- SME
- Large Enterprise
By Industry
- Retail & Consumer Goods
- IT & Telecom
- Healthcare
- Media & Entertainment
- Travel & Hospitality
- Manufacturing
- Others
By Regional
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Players Insights
- Achievers
- BambooHR
- Bonusly
- Culture Amp
- Emplify
- Engagedly
- Globoforce
- Kazoo
- Kenexa
- Kudos
- Motivosity
- Nectar
- Peerboard
- Peanut Butter Bots
- Qatalog
- Reward Gateway
- Sodexo Engage
- Soylent
- Terryberry
- Workstars

Product Code: CMI4754

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Deployment
- Market Snippet, By Enterprises Size
- Market Snippet, By Industry
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Market Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New System Launches/Approvals
Impact of COVID-19 Pandemic

4. Global Social Employee Recognition Systems Market, By Deployment, 2019-2031 (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Cloud
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
On-Premise
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

5. Global Social Employee Recognition Systems Market, By Enterprises Size, 2019-2031 (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
SME
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Large Enterprise
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

6. Global Social Employee Recognition Systems Market, By Industry, 2019-2031 (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Retail & Consumer Goods
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
IT & Telecom
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Healthcare
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Media & Entertainment
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Travel & Hospitality
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Manufacturing
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Others
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

7. Global Social Employee Recognition Systems Market, By Region, 2019-2031 (US$ Bn)

Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
North America
- Regional Trends
- Market Size and Forecast, By Deployment, 2019-2031 (US$ Bn)
- Market Size and Forecast, By Enterprises Size, 2019-2031 (US$ Bn)
- Market Size and Forecast, By Industry, 2019-2031 (US$ Bn)
- Market Share Analysis, By Country, 2024 and 2031 (%)
  - U.S.
  - Canada
Europe
- Regional Trends
- Market Size and Forecast, By Deployment, 2019-2031 (US$ Bn)
- Market Size and Forecast, By Enterprises Size, 2019-2031 (US$ Bn)
- Market Size and Forecast, By Industry, 2019-2031 (US$ Bn)
- Market Share Analysis, By Country, 2024 and 2031 (%)
  - U.K.
  - Germany
  - France
  - Russia
  - Rest of Europe
Asia Pacific
- Regional Trends
- Market Size and Forecast, By Deployment, 2019-2031 (US$ Bn)
- Market Size and Forecast, By Enterprises Size, 2019-2031 (US$ Bn)
- Market Size and Forecast, By Industry, 2019-2031 (US$ Bn)
- Market Share Analysis, By Country, 2024 and 2031 (%)
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Latin America
- Regional Trends
- Market Size and Forecast, By Deployment, 2019-2031 (US$ Bn)
- Market Size and Forecast, By Enterprises Size, 2019-2031 (US$ Bn)
- Market Size and Forecast, By Industry, 2019-2031 (US$ Bn)
- Market Share Analysis, By Country, 2024 and 2031 (%)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Middle East & Africa
- Regional Trends
- Market Size and Forecast, By Deployment, 2019-2031 (US$ Bn)
- Market Size and Forecast, By Enterprises Size, 2019-2031 (US$ Bn)
- Market Size and Forecast, By Industry, 2019-2031 (US$ Bn)
- Market Share Analysis, By Country, 2024 and 2031 (%)
  - South Africa
  - GCC Countries
  - Rest of the Middle East and Africa

8. Competitive Landscape

Company Profiles
- Achievers
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- BambooHR
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Bonusly
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Culture Amp
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Emplify
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Engagedly
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Globoforce
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Kazoo
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Kenexa
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Kudos
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Motivosity
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Nectar
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Peerboard
- Peanut Butter Bots
- Qatalog
- Reward Gateway
- Sodexo Engage
- Soylent
- Terryberry
- Workstars