North America Social Employee Recognition System Market

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.

Presently, the US is the world’s worst-affected country due to the COVID-19 outbreak. The US is a prominent market for social employee recognition system in companies. The huge increase in the number of confirmed cases and rising reported deaths in the country has affected software providers to some extent due to the decrease in demand for their products. The business shutdowns as well as social distancing across the US, Canada, and Mexico are impacting the adoption of the social employee recognition system market. North America region is home to a large number of technology companies, and the impact of coronavirus outbreak is anticipated to be moderate in the year 2020 and likely in first quarter of 2021. The impact of COVID-19 is short-term; it is likely to decrease in the coming years.

North America Social Employee Recognition System Strategic Insights

Strategic insights for the North America Social Employee Recognition System provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Social Employee Recognition System Report Scope

North America Social Employee Recognition System Regional Insights

The geographic scope of the North America Social Employee Recognition System refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The social employee recognition system market in North America is expected to grow from US$ 2,304.7 million in 2021 to US$ 5,532.4 million by 2028; it is estimated to grow at a CAGR of 13.3% from 2021 to 2028. The deployment of digital technologies and advanced software is permitting enterprises to include innovations in their organizational structure. SaaS is receiving high prominence in a broad array of industries and thus creating substantial revenue for the market. Through SaaS, the enterprises are heavily working on their potential to incorporate and access data at a faster speed. The deployment of SaaS depicts that employee recognition is transforming from a top-down approach to that which builds impressive teamwork via peer-to-peer recognition. With more key companies offering cloud-based employee recognition platform such as Wooboard Technologies Limited; O.C. Tanner; Workstars among many others, the market growth is projected to grow at an exponential rate.

Key Market Segments

In terms of component, the platform segment accounted for the largest share of the North America social employee recognition system market in 2020. In terms of deployment model, the cloud segment accounted for the largest share of the North America social employee recognition system market in 2020. In terms of reward type, the gift cards segment accounted for the largest share of the North America social employee recognition system market in 2020. In terms of industry, the retail segment accounted for the largest share of the North America 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 North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Achievers Solutions Inc., Appreiz Inc., BI Worldwide, Globoforce Limited (Workhuman), Kudos Inc., Terryberry, Semos Cloud, and Nectar HR.

Reasons to buy report

• To understand the North America Social employee recognition system market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for North America Social employee recognition system market
• Efficiently plan M&A and partnership deals in North America Social employee recognition system market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America Social employee recognition system market
• Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.

North America 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

• North America
  • US
  • Canada
  • Mexico

Companies Mentioned

1. Achievers Solutions Inc.
2. Appreiz Inc.
3. BI Worldwide
4. Globoforce Limited (Workhuman)
5. Kudos Inc.
6. Terryberry
7. Semos Cloud
8. Nectar HR