PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1280608
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1280608
Diversity and Inclusion (D&I)
What`s New for 2023?
»Special coverage on Russia-Ukraine war; global inflation; easing of "zero-Covid" policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
»Global competitiveness and key competitor percentage market shares
» Market presence across multiple geographies - Strong/Active/Niche/Trivial
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»Access to our digital archives and MarketGlass Research Platform
»Complimentary updates for one year
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
Global Market for Diversity and Inclusion (D&I) to Reach $24.3 Billion by 2030
In the changed post COVID-19 business landscape, global market for Diversity and Inclusion (D&I) estimated at US$9.4 Billion in the year 2022, is projected to reach a revised size of US$24.3 Billion by 2030, growing at a CAGR of 12.6% over the analysis period 2022-2030.Employee Resource Groups (ERGS), the largest segment in the global market, is projected to record a 12.1% CAGR and reach US$7.0 Billion by the end of the analysis period. ERGs have come back into popularity in recent years as diversity and equity become more and more important in the workplace. Typical ERGs include networks for women, people of color, LGBTQI+, veterans, those with disabilities and young professionals. Groups based on shared goals often focus on volunteering, mentorship or sustainability. Some of the common benefits that ERGs provide include increasing cultural awareness among staff; increase employee engagement and overall job satisfaction; help employers discover employees with great leadership potential; foster better relationships between new and existing employees; provide professional development opportunities; talent attraction and recruitment; cultivate mentoring; provide cross-functional teamwork; and boost innovation. ERGs also educate employees and lead to higher retention rates.
Revenues in the Recruitment segment worldwide is expected to grow at a CAGR of 10.5% over the analysis period. The market in 2022 was estimated at US$1.3 billion and is projected to reach US$3.0 billion by 2030. Recruitment is one of the major steps to address talent shortage as well as the primary point for building diversity and inclusion in the organization. However, recruitment is also one of the major bottlenecks for building a diverse organization as the recruitment is challenged by biases of the recruiter. Many types of biases can affect the recruitment process and defeat organizational goals of building diversity. Group sentiment is affects recruitment process when one of the panel members is inclined or disinclined towards a candidate owing to peer pressure or other factors. When group thinking is affected by bias, then the recruitment process becomes subjective, leading to lower diversity in the organization.
Training & Development services segment worldwide is projected to reach US$5.8 billion by 2030.
On a regional level, the U.S. market for D&I is estimated at $4.3 Billion in 2022 and is forecast to grow at a 13.7% CAGR over the analysis period. The market in Europe is projected to reach US$7.3 billion by the year 2030. Asia-Pacific represents a noteworthy high growth market with the potential to grow at a CAGR of 11.3% over the analysis period.
Select Competitors (Total 152 Featured) -
- Cisco Systems, Inc.
- Cornerstone OnDemand, Inc.
- BizLibrary
- Deloitte
- Designing Digitally, Inc.
- Bain & Company, Inc.
- BIS Safety Software
- DeGarmo
- Atrixware
- CABEM Technologies
- Criteria
- Diversio
- Global Diversity Practice
- Axcet HR Solutions
- BCT Partners
TABLE OF CONTENTS
I. METHODOLOGY
II. EXECUTIVE SUMMARY
- 1. MARKET OVERVIEW
- Diversity & Inclusion, A Prelude
- Diversity & Inclusion in the Workplace: A Fact Check
- Humanity's Struggle With Diversity. Why is it so Hard to Achieve Equality?
- Percentage Share Breakdown of World Population by Race
- It Makes Sense to Look for Cultural Survival & Importance in the Continued Use of Traditional Languages & Dialects: Global Number of People Speaking Native Languages as of the Year 2023 (In Million)
- The World is Truly a Global Village: Breakdown of Ethnic Groups As a % of Total Population of Select Countries
- Prevailing Corporate Sentiments on Diversity & Inclusion (In %)
- Labor Globalization is the New Reality
- Globalization Triggers Migration of Skilled Labor to Developed Countries
- Attracting & Retaining Globally Mobile Skilled Migrants is the New Norm: Immigrant Workers as % of Total Labor Force in Developed Countries for the Years 1980, 1990, 2000, 2010, 2020, and 2023
- The Current State of Diversity in the U.S., A Land of Cultural Diversity
- What Does this Mean for Companies? It Means the Dawn of a New Era of D&I is Upon the Corporate World
- D&I Percentage Score (%) of Major Companies: 2023
- Reimagining Workforce Planning to Achieve Competitive Advantage in the Post-COVID-19 Era
- Corporate Roles & Opportunities for Diversity & Inclusion is Increasing by the Day: % Increase in Diversity & Leadership Roles & Titles on LinkedIn 2015 Vs 2023
- It's Only the Marginalized Who Appreciate the Value of Business Diversity: % of White People & People of Color Who Believe Business Diversity Is Not Crucial for Professional Success
- How Diversity, Equity, AND Inclusion Has Been Evolving in Recent Years
- Here's Evidence that Workplace Diversity Attracts Top Talent: % of Job Seekers Who Consider Diverse Workforce Before Accepting Job Offers
- Want to Increase Profitability Then Its Time to See How Diverse Your Workforce Is: Revenue Performance of Companies With High & Low Diversity Scores
- Economic Benefits of Diverse Workforce & Inclusive Work Environment Are Well Acknowledged Facts
- Including ALL in the Fold, Here's What Companies Do Not Know
- A Recap of Challenges Plaguing Successful Implementation of D&I Programs
- Symptoms of a Workplace Lacking D&I
- Microaggression, the Often Overlooked Yet Critical Symptom of a Non-Inclusive Work Environment
- What Can Companies to Do to Achieve their D&I Goals?
- Implement D&I Best Practices in the Workplace
- Acknowledging the Fact that Inclusive Leadership Vital to Success
- Role of Manager Training & Bias Awareness in Achieving D&I Goals
- Identifying & Addressing D&I Challenges
- World Brands
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
- Recent Market Activity
- 2. FOCUS ON SELECT PLAYERS
- 3. MARKET TRENDS & DRIVERS
- Current State of Diversity & Inclusion (D&I) Worldwide: A Review
- Top Diversity, Equity, and Inclusion Trends for 2023 and Beyond
- How Diversity and Inclusion Technology Can Bring Organizational-Level Changes
- Diversity Hiring Picks Up as Millennial and Gen Z Job Seekers Prefer Companies with Workplace Diversity
- Global Workforce Composition: % Breakdown of Male Vs Female Employees as of the Year 2023
- Gender Disparity of People in Leadership Role Continues to Remain: Gender of People in Managerial & CEO Roles in Fortune 500 Companies as of the Year 2023
- US Workforce Composition by Generation for Years 2023 & 2026
- Racial Discrimination Still Remains Rife in Workplaces
- Despite the Fact Diversity is Beneficial for a Company, the Reality is that Corporate Leaders Remain White & Male: Representation of Workforce in the U.S. by Role, Gender & Race as of the Year 2023
- US Workforce Composition by Race and Ethnicity: 2023
- What is Racial Discrimination?
- Racism Remains the Bitter Reality Despite Laws
- Slow Progress: Racism Continues to Survive & Thrive
- Sexism & Racism: A Tough Combination for Women of Color
- Ways to Effectively Deal with Racial Discrimination at Workplaces
- Female Empowerment Improves as Evidenced by Increasing Share in Leadership Roles
- Women Representation in Leadership Roles by Industry: 2022
- Percentage Share of Women Hired into Leadership by Year: 2016-2022
- Top Reasons Why Women Continue to be Under Represented in Companies & Politics Worldwide
- Creating a More LGBTQ Inclusive Workplace?
- Composition of LGBTQ Workforce (In %) by Age Group as of the Year 2023
- % of LGBTQ Workforce Who Experience Discrimination in the Workplace
- Important Role of Employee Resource Groups (ERGs) in Achieving Diversity in the Workplace
- Technology Comes to the Aid of D&I Implementation
- Technological Interventions Expedite D&I Initiatives
- Advanced Technology Covers Diverse Aspects of D&I Initiatives
- AI to Gain Strong Adoption to Facilitate DEI
- Using AI to Eliminate Biases
- Innovator Diversity Key for Sustainable Innovation - But Is the System There Yet?
- Variegated Teams for Fostering Innovation in Organizations
- Special Focus on DEI in the US TV & Film Industry
- Hollywood is Far from Adequately Representing Minority Groups
- Damaging Impact of "Gone With The Wind" On Hollywood Racism
- Black Representation In The U.S Film Industry: A Special Focus
- Overcoming Challenges. Here's How It Can Be Done
- Gender Disparity in Hollywood
- What Better Indication of Rampant Sexual Objectification of Women Than This! Salaries of Hollywood Stars by Age and Gender (In US$ 000s)
- Diverse Films Generate More Revenues! It's a Fact
- What are the Solutions to Encourage & Build Diversity, Equity & Inclusion in the Movie Industry?
- 4. GLOBAL MARKET PERSPECTIVE
- TABLE 1: World Diversity and Inclusion (D&I) Market Analysis of Annual Sales in US$ Million for Years 2022 through 2030
- TABLE 2: World Recent Past, Current & Future Analysis for Diversity and Inclusion (D&I) by Geographic Region - USA, Canada, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Spending in US$ Million for Years 2022 through 2030 and % CAGR
- TABLE 3: World 8-Year Perspective for Diversity and Inclusion (D&I) by Geographic Region - Percentage Breakdown of Value Spending for USA, Canada, Europe, Asia-Pacific and Rest of World Markets for Years 2023 & 2030
- TABLE 4: World Recent Past, Current & Future Analysis for Employee Resource Groups (ERGs) by Geographic Region - USA, Canada, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Spending in US$ Million for Years 2022 through 2030 and % CAGR
- TABLE 5: World 8-Year Perspective for Employee Resource Groups (ERGs) by Geographic Region - Percentage Breakdown of Value Spending for USA, Canada, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
- TABLE 6: World Recent Past, Current & Future Analysis for External Partnerships by Geographic Region - USA, Canada, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Spending in US$ Million for Years 2022 through 2030 and % CAGR
- TABLE 7: World 8-Year Perspective for External Partnerships by Geographic Region - Percentage Breakdown of Value Spending for USA, Canada, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
- TABLE 8: World Recent Past, Current & Future Analysis for Training & Development by Geographic Region - USA, Canada, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Spending in US$ Million for Years 2022 through 2030 and % CAGR
- TABLE 9: World 8-Year Perspective for Training & Development by Geographic Region - Percentage Breakdown of Value Spending for USA, Canada, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
- TABLE 10: World Recent Past, Current & Future Analysis for Recruitment by Geographic Region - USA, Canada, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Spending in US$ Million for Years 2022 through 2030 and % CAGR
- TABLE 11: World 8-Year Perspective for Recruitment by Geographic Region - Percentage Breakdown of Value Spending for USA, Canada, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
- TABLE 12: World Recent Past, Current & Future Analysis for Other Segments by Geographic Region - USA, Canada, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Spending in US$ Million for Years 2022 through 2030 and % CAGR
- TABLE 13: World 8-Year Perspective for Other Segments by Geographic Region - Percentage Breakdown of Value Spending for USA, Canada, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
III. MARKET ANALYSIS
- UNITED STATES
- Diversity and Inclusion (D&I) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
- TABLE 14: USA Recent Past, Current & Future Analysis for Diversity and Inclusion (D&I) by Segment - Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments - Independent Analysis of Annual Spending in US$ Million for the Years 2022 through 2030 and % CAGR
- TABLE 15: USA 8-Year Perspective for Diversity and Inclusion (D&I) by Segment - Percentage Breakdown of Value Spending for Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments for the Years 2023 & 2030
- CANADA
- TABLE 16: Canada Recent Past, Current & Future Analysis for Diversity and Inclusion (D&I) by Segment - Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments - Independent Analysis of Annual Spending in US$ Million for the Years 2022 through 2030 and % CAGR
- TABLE 17: Canada 8-Year Perspective for Diversity and Inclusion (D&I) by Segment - Percentage Breakdown of Value Spending for Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments for the Years 2023 & 2030
- EUROPE
- Diversity and Inclusion (D&I) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
- TABLE 18: Europe Recent Past, Current & Future Analysis for Diversity and Inclusion (D&I) by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Spending in US$ Million for Years 2022 through 2030 and % CAGR
- TABLE 19: Europe 8-Year Perspective for Diversity and Inclusion (D&I) by Geographic Region - Percentage Breakdown of Value Spending for France, Germany, Italy, UK and Rest of Europe Markets for Years 2023 & 2030
- TABLE 20: Europe Recent Past, Current & Future Analysis for Diversity and Inclusion (D&I) by Segment - Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments - Independent Analysis of Annual Spending in US$ Million for the Years 2022 through 2030 and % CAGR
- TABLE 21: Europe 8-Year Perspective for Diversity and Inclusion (D&I) by Segment - Percentage Breakdown of Value Spending for Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments for the Years 2023 & 2030
- FRANCE
- TABLE 22: France Recent Past, Current & Future Analysis for Diversity and Inclusion (D&I) by Segment - Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments - Independent Analysis of Annual Spending in US$ Million for the Years 2022 through 2030 and % CAGR
- TABLE 23: France 8-Year Perspective for Diversity and Inclusion (D&I) by Segment - Percentage Breakdown of Value Spending for Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments for the Years 2023 & 2030
- GERMANY
- TABLE 24: Germany Recent Past, Current & Future Analysis for Diversity and Inclusion (D&I) by Segment - Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments - Independent Analysis of Annual Spending in US$ Million for the Years 2022 through 2030 and % CAGR
- TABLE 25: Germany 8-Year Perspective for Diversity and Inclusion (D&I) by Segment - Percentage Breakdown of Value Spending for Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments for the Years 2023 & 2030
- ITALY
- TABLE 26: Italy Recent Past, Current & Future Analysis for Diversity and Inclusion (D&I) by Segment - Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments - Independent Analysis of Annual Spending in US$ Million for the Years 2022 through 2030 and % CAGR
- TABLE 27: Italy 8-Year Perspective for Diversity and Inclusion (D&I) by Segment - Percentage Breakdown of Value Spending for Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments for the Years 2023 & 2030
- UNITED KINGDOM
- TABLE 28: UK Recent Past, Current & Future Analysis for Diversity and Inclusion (D&I) by Segment - Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments - Independent Analysis of Annual Spending in US$ Million for the Years 2022 through 2030 and % CAGR
- TABLE 29: UK 8-Year Perspective for Diversity and Inclusion (D&I) by Segment - Percentage Breakdown of Value Spending for Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments for the Years 2023 & 2030
- REST OF EUROPE
- TABLE 30: Rest of Europe Recent Past, Current & Future Analysis for Diversity and Inclusion (D&I) by Segment - Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments - Independent Analysis of Annual Spending in US$ Million for the Years 2022 through 2030 and % CAGR
- TABLE 31: Rest of Europe 8-Year Perspective for Diversity and Inclusion (D&I) by Segment - Percentage Breakdown of Value Spending for Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments for the Years 2023 & 2030
- ASIA-PACIFIC
- Diversity and Inclusion (D&I) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
- TABLE 32: Asia-Pacific Recent Past, Current & Future Analysis for Diversity and Inclusion (D&I) by Segment - Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments - Independent Analysis of Annual Spending in US$ Million for the Years 2022 through 2030 and % CAGR
- TABLE 33: Asia-Pacific 8-Year Perspective for Diversity and Inclusion (D&I) by Segment - Percentage Breakdown of Value Spending for Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments for the Years 2023 & 2030
- REST OF WORLD
- TABLE 34: Rest of World Recent Past, Current & Future Analysis for Diversity and Inclusion (D&I) by Segment - Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments - Independent Analysis of Annual Spending in US$ Million for the Years 2022 through 2030 and % CAGR
- TABLE 35: Rest of World 8-Year Perspective for Diversity and Inclusion (D&I) by Segment - Percentage Breakdown of Value Spending for Employee Resource Groups (ERGs), External Partnerships, Training & Development, Recruitment and Other Segments for the Years 2023 & 2030
IV. COMPETITION
