Europe Social Employee Recognition System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Platform and Services), Deployment Model (Cloud and On-premise), Reward Type (Gift Cards, Prepaid Cards, Incentive Travel, and Others), and Industry (Retail, IT and Telecom, Healthcare, Media and Entertainment, Travel and Hospitality, Manufacturing, and Others)
Market Introduction
This research report on the “Social Employee Recognition System Market” provides a holistic view of the regional market size across major countries. The report further elucidates the key driving factors, restraints, growth opportunities, and future trends pertaining to the market growth.
Thus, the growing trend of digital workplace transformation are expected to create a significant demand for social employee recognition system in the coming years, which is further anticipated to drive the social employee recognition system market.
Spain, Italy, Germany, UK, and France are some of the worst affected member states in the European region due to the COVID-19 outbreak. Businesses in the region are facing severe economic difficulties as they had either to suspend their operations or reduce their activities in a substantial manner. Owing to business shutdown, the region is anticipated to face an economic slowdown in 2020 and most likely in 2021 also. The member states of Europe, such as Italy, Spain, and Germany, have implemented drastic measures, travel restrictions, and shutdown of schools and colleges to limit the spread of coronavirus among its citizens. However, the COVID-19 crisis positively impacted the growth of some sectors, such as software and technology. The demand for digital solutions, especially has grown at a high rate in the past few months. A significant number of corporates have taken significant initiatives to volunteer to the affected areas. As a result, the adoption rate of volunteering platform is expected to grow in the coming years to manage all the operations. Italy, Spain, Germany, UK, and France social employee recognition system markets are anticipated to see the moderate negative impact in 2020. However, this impact is temporary and is expected to drive SMEs to adopt digital solutions in the coming years.
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Market Overview and Dynamics
The social employee recognition system market in Europe is expected to grow from US$ 1,599.9 million in 2021 to US$ 4,198.3 million by 2028; it is estimated to grow at a CAGR of 14.8% from 2021 to 2028. With endless technological developments, digitalization is creating a communal effect on every industry of all sizes. Practicing social recognition enable the employees to feel valued for their work and contribution in an organization. Social employee recognition helps in accelerating employee retention while increasing overall organizational productivity. It has witnessed that organizations practicing social recognition has observed 40% enhancement in employee retention as compared to companies. Furthermore, as per the analysis of OC Tanner Institute, using recognition technology accelerates employee engagement by over 45% and productivity by 34% while maintain employee retention by 25%. With productivity getting high, adoption of employee recognition platform by employers in growing.
Key Market Segments
In terms of component, the platform segment accounted for the largest share of the Europe social employee recognition system market in 2020. In terms of deployment model, the cloud segment accounted for the largest share of the Europe social employee recognition system market in 2020. In terms of reward type, the gift cards segment accounted for the largest share of the Europe social employee recognition system market in 2020. In terms of industry, the retail segment accounted for the largest share of the Europe social employee recognition system market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the social employee recognition system market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are BI Worldwide, Globoforce Limited (Workhuman), Kudos Inc., Terryberry, and Semos Cloud.
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Europe Social Employee Recognition System Market Segmentation
By Component
- Platform
- Services
By Deployment Model
- Cloud
- On-Premise
By Reward Type
- Gift Cards
- Prepaid Cards
- Incentive Travel
- Others
By Industry
- Retail
- IT and Telecom
- Healthcare
- Media and Entertainment
- Travel and Hospitality
- Manufacturing
- Others
By Country
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Rest of Europe
Companies Mentioned
- BI Worldwide
- Globoforce Limited (Workhuman)
- Kudos Inc.
- Terryberry
- Semos Cloud
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Social Employee Recognition System Market – By Component
1.3.2 Social Employee Recognition System Market – By Deployment Model
1.3.3 Social Employee Recognition System Market – By Reward Type
1.3.4 Social Employee Recognition System Market – By Industry
1.3.5 Europe Social Employee Recognition System Market – By Country
2. Europe Social Employee Recognition System Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Social Employee Recognition System Market – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 Social Employee Recognition System Market- Europe PEST Analysis
4.3 Expert Opinion
4.4 Ecosystem Analysis
5. Europe Social Employee Recognition System Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Trend of Digital Workplace Transformation
5.1.2 Greater Productivity Through Employee Recognition Platforms
5.2 Market Restraints
5.2.1 Lack of Adoption in SMEs
5.3 Market Opportunities
5.3.1 Fast Adoption of Cloud-Based Solutions Among Enterprises for High Scalability
5.4 Future Trends
5.4.1 Integration of Advanced Technologies
5.5 Impact Analysis
6. Social Employee Recognition System Market – Europe Analysis
6.1 Europe Social Employee Recognition System Market Revenue Forecasts and Analysis
7. Europe Social Employee Recognition System Market Analysis and Forecasts To 2028 – By Component
7.1 Overview
7.2 Social Employee Recognition Systems Market, By Component (2020 And 2028)
7.3 Platform
7.3.1 Overview
7.3.2 Platform: social employee recognition system market Revenue and Forecast To 2028 (US$ Million)
7.4 Services
7.4.1 Overview
7.4.2 Services: social employee recognition system market Revenue and Forecast To 2028 (US$ Million)
8. Europe Social Employee Recognition System Market Analysis and Forecasts To 2028 – By Deployment Model
8.1 Overview
8.2 Social Employee Recognition System Market, By Deployment Model (2020 And 2028)
8.3 Cloud
8.3.1 Overview
8.3.2 Cloud: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
8.4 On-Premise
8.4.1 Overview
8.4.2 On-Premise: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
9. Europe Social Employee Recognition System Market Analysis and Forecasts To 2028 – By Reward Type
9.1 Overview
9.2 Social Employee Recognition System Market, By Reward Type (2020 and 2028)
9.3 Gift Cards
9.3.1 Overview
9.3.2 Gift Cards: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
9.4 Prepaid Cards
9.4.1 Overview
9.4.2 Prepaid Cards: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
9.5 Incentive Travel
9.5.1 Overview
9.5.2 Incentive Travel: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
10. Europe Social Employee Recognition System Market Analysis and Forecasts To 2028 –By Industry
10.1 Overview
10.2 Social Employee Recognition System Market, By Industry (2020 and 2028)
10.3 Retail
10.3.1 Overview
10.3.2 Retail: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
10.4 IT & Telecom
10.4.1 Overview
10.4.2 IT & Telecom: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
10.5 Healthcare
10.5.1 Overview
10.5.2 Healthcare: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
10.6 Media & Entertainment
10.6.1 Overview
10.6.2 Media & Entertainment: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
10.7 Travel & Hospitality
10.7.1 Overview
10.7.2 Travel & Hospitality: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
10.8 Manufacturing
10.8.1 Overview
10.8.2 Manufacturing: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
10.9 Others
10.9.1 Overview
10.9.2 Others: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
11. Social Employee Recognition System Market Revenue and Forecasts to 2028 – Geographical Analysis
11.1 Europe: Social Employee Recognition System Market
11.1.1 Overview
11.1.2 Europe: Social Employee Recognition System Market, by Country, 2021 & 2028 (%)
11.1.2.1 France: Social Employee Recognition System – Revenue, and Forecast to 2028 (US$ Million)
11.1.2.1.1 France: Social Employee Recognition System, By Component
11.1.2.1.2 France: Social Employee Recognition System Market, By Deployment Model
11.1.2.1.3 France: Social Employee Recognition System Market, By Reward Type
11.1.2.1.4 France: Social Employee Recognition System Market, By Industry
11.1.2.2 Germany: Social Employee Recognition System – Revenue, and Forecast to 2028 (US$ Million)
11.1.2.2.1 Germany: Social Employee Recognition System, By Component
11.1.2.2.2 Germany: Social Employee Recognition System Market, By Deployment Model
11.1.2.2.3 Germany: Social Employee Recognition System Market, By Reward Type
11.1.2.2.4 Germany: Social Employee Recognition System Market, By Industry
11.1.2.3 UK: Social Employee Recognition System – Revenue, and Forecast to 2028 (US$ Million)
11.1.2.3.1 UK: Social Employee Recognition System, By Component
11.1.2.3.2 UK: Social Employee Recognition System Market, By Deployment Model
11.1.2.3.3 UK: Social Employee Recognition System Market, By Reward Type
11.1.2.3.4 UK: Social Employee Recognition System Market, By Industry
11.1.2.4 Italy: Social Employee Recognition System – Revenue, and Forecast to 2028 (US$ Million)
11.1.2.4.1 Italy: Social Employee Recognition System, By Component
11.1.2.4.2 Italy: Social Employee Recognition System Market, By Deployment Model
11.1.2.4.3 Italy: Social Employee Recognition System Market, By Reward Type
11.1.2.4.4 Italy: Social Employee Recognition System Market, By Industry
11.1.2.5 Russia: Social Employee Recognition System – Revenue, and Forecast to 2028 (US$ Million)
11.1.2.5.1 Russia: Social Employee Recognition System, By Component
11.1.2.5.2 Russia: Social Employee Recognition System Market, By Deployment Model
11.1.2.5.3 Russia: Social Employee Recognition System Market, By Reward Type
11.1.2.5.4 Russia: Social Employee Recognition System Market, By Industry
11.1.2.6 Rest of Europe: Social Employee Recognition System – Revenue, and Forecast to 2028 (US$ Million)
11.1.2.6.1 Rest of Europe: Social Employee Recognition System, By Component
11.1.2.6.2 Rest of Europe: Social Employee Recognition System Market, By Deployment Model
11.1.2.6.3 Rest of Europe: Social Employee Recognition System Market, By Reward Type
11.1.2.6.4 Rest of Europe: Social Employee Recognition System Market, By Industry
12. Impact Of COVID-19 Pandemic on Europe Social Employee Recognition System Market
12.1 Europe: Impact Assessment of COVID-19 Pandemic
13. Industry Landscape
13.1 Overview
13.2 Merger and Acquisition
13.3 New Development
14. Company Profiles
14.1 BI Worldwide
14.1.1 1.3.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Globoforce Limited (Workhuman)
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Kudos Inc.
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Terryberry
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Semos Cloud
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
15. Appendix
15.1 About the Insight Partners
15.2 Glossary of Terms
LIST OF TABLES
Table 1. France: Social Employee Recognition System, By Component –Revenue and Forecast to 2028 (US$ Million)
Table 2. France: Social Employee Recognition System Market, By Deployment Model–Revenue and Forecast to 2028 (US$ Million)
Table 3. France: Social Employee Recognition System Market, By Reward Type–Revenue and Forecast to 2028 (US$ Million)
Table 4. France: Social Employee Recognition System Market, By Industry–Revenue and Forecast to 2028 (US$ Million)
Table 5. Germany: Social Employee Recognition System, By Component –Revenue and Forecast to 2028 (US$ Million)
Table 6. Germany: Social Employee Recognition System Market, By Deployment Model–Revenue and Forecast to 2028 (US$ Million)
Table 7. Germany: Social Employee Recognition System Market, By Reward Type–Revenue and Forecast to 2028 (US$ Million)
Table 8. Germany: Social Employee Recognition System Market, By Industry–Revenue and Forecast to 2028 (US$ Million)
Table 9. UK: Social Employee Recognition System, By Component –Revenue and Forecast to 2028 (US$ Million)
Table 10. UK: Social Employee Recognition System Market, By Deployment Model–Revenue and Forecast to 2028 (US$ Million)
Table 11. UK: Social Employee Recognition System Market, By Reward Type–Revenue and Forecast to 2028 (US$ Million)
Table 12. UK: Social Employee Recognition System Market, By Industry–Revenue and Forecast to 2028 (US$ Million)
Table 13. Italy: Social Employee Recognition System, By Component –Revenue and Forecast to 2028 (US$ Million)
Table 14. Italy: Social Employee Recognition System Market, By Deployment Model–Revenue and Forecast to 2028 (US$ Million)
Table 15. Italy: Social Employee Recognition System Market, By Reward Type–Revenue and Forecast to 2028 (US$ Million)
Table 16. Italy: Social Employee Recognition System Market, By Industry–Revenue and Forecast to 2028 (US$ Million)
Table 17. Russia: Social Employee Recognition System, By Component –Revenue and Forecast to 2028 (US$ Million)
Table 18. Russia: Social Employee Recognition System Market, By Deployment Model–Revenue and Forecast to 2028 (US$ Million)
Table 19. Russia: Social Employee Recognition System Market, By Reward Type–Revenue and Forecast to 2028 (US$ Million)
Table 20. Russia: Social Employee Recognition System Market, By Industry–Revenue and Forecast to 2028 (US$ Million)
Table 21. Rest of Europe: Social Employee Recognition System, By Component –Revenue and Forecast to 2028 (US$ Million)
Table 22. Rest of Europe: Social Employee Recognition System Market, By Deployment Model–Revenue and Forecast to 2028 (US$ Million)
Table 23. Rest of Europe: Social Employee Recognition System Market, By Reward Type–Revenue and Forecast to 2028 (US$ Million)
Table 24. Rest of Europe: Social Employee Recognition System Market, By Industry–Revenue and Forecast to 2028 (US$ Million)
Table 25. Glossary of Terms, Social Employee Recognition System Market
LIST OF FIGURES
Figure 1. Social Employee Recognition System Market Segmentation
Figure 2. Europe Social Employee Recognition System Market Overview
Figure 3. Platform Segment Held Largest Share of Component in Social Employee Recognition System Market
Figure 4. Italy is Expected to Show Remarkable Growth During the Forecast Period
Figure 5. Social Employee Recognition System Market - Europe PEST Analysis
Figure 6. Social Employee Recognition System Market Impact Analysis of Driver and Restraints
Figure 7. Europe Social Employee Recognition System Market – Revenue Forecasts and Analysis – 2020- 2028
Figure 8. Social Employee Recognition Systems Market, By Component (2020 and 2028)
Figure 9. Platform: social employee recognition system market Revenue and Forecast to 2028 (US$ Million)
Figure 10. Services: social employee recognition system market Revenue and Forecast to 2028 (US$ Million)
Figure 11. Social Employee Recognition System Market, By Deployment Model (2020 and 2028)
Figure 12. Cloud: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. On-premise: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. Social Employee Recognition System Market, by Reward Type (2020 and 2028)
Figure 15. Gift Cards: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. Prepaid Cards: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. Incentive Travel: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. Others: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. Social Employee Recognition System Market, By Industry (2020 and 2028)
Figure 20. Retail: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. IT & Telecom: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. Healthcare: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 23. Media & Entertainment: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 24. Travel & Hospitality: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 25. Manufacturing: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 26. Others: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 27. Europe: Social Employee Recognition System Market, by Key Country – Revenue (2021) (USD Millions)
Figure 28. Europe: Social Employee Recognition System Market, by Country, 2021 & 2028 (%)
Figure 29. France: Social Employee Recognition System – Revenue, and Forecast to 2028 (US$ Million)
Figure 30. Germany: Social Employee Recognition System – Revenue, and Forecast to 2028 (US$ Million)
Figure 31. UK: Social Employee Recognition System – Revenue, and Forecast to 2028 (US$ Million)
Figure 32. Italy: Social Employee Recognition System – Revenue, and Forecast to 2028 (US$ Million)
Figure 33. Russia: Social Employee Recognition System – Revenue, and Forecast to 2028 (US$ Million)
Figure 34. Rest of Europe: Social Employee Recognition System – Revenue, and Forecast to 2028 (US$ Million)
Figure 35. Impact of COVID-19 Pandemic in Europe Country Markets
- BI Worldwide
- Globoforce Limited (Workhuman)
- Kudos Inc.
- Terryberry
- Semos Cloud
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