The market for enterprise social networks and online communities is expanding because of increasing usage of social media websites and software among employees for collaboration, integration, and expert advice. As a result, the proliferating market for enterprise social networks and online communities is expected to pave the way for social employee recognition systems market in near future.
The deployment of social employee recognition systems is exponentially high in retail and consumer goods as well as IT and telecom, owing to strong presence of large scale enterprises and hefty expenditure budget. As social employee recognition systems are not a necessity but a value addition that adds up to existing costs, their adoption will possibly remain restricted.
Growing involvement of upper management of retail and consumer goods enterprises is expected to increase deployment of social employee recognition systems
Currently, stable increase in the participation of senior management in employee recognition is providing a much needed push to the social employee recognition market at a steady rate. Some companies have seen enhanced and sturdier growth owing to participation of the senior management in such activities and programmes.
These social employee recognition solutions can be app-based owing to which, the senior management can vigorously participate in the events from any location and further recognize and recompense the efforts that the employees and the teams make with the help of social networking web apps in their personal devices. Furthermore, social employee recognition solutions assist employees to informally communicate with their corresponding teams as well as seniors, resulting in escalated employee productivity.
Moreover, the BYOD trend in this particular sector has been triggering traction since the recent past. Although the trend is currently at a nascent stage in small-scale companies across the globe, a range of growth opportunities for vendors can be identified. Constant technological advances are expected to further support the adoption of BYOD trend by companies in coming years.
Integration of advanced technologies in IT and telecom will surge the demand in near future
Robust advancements in the IT industry are anticipated to create strong growth opportunities for social employee recognition systems. Integration of technologies such as IoT, machine learning, artificial intelligence, and others is expected to lead to the development of social recognition systems with much more capabilities and upgraded performance. Moreover, market players providing social recognition systems integrated with deep learning technologies have been experiencing escalated demand.
This scenario has been attributed to improved customer satisfaction, enhanced capabilities, and profitable outcomes. As new technologies continue to assimilate, systems with advanced capabilities will continue to develop, thereby creating healthy opportunities for the market to proliferate over the coming years on a global level.
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The global market for social employee recognition systems market has been segmented into:
By Enterprise Type
- Small & Medium Enterprises
- Large Enterprises
By Industry Type
- Retail & Consumer Goods
- IT & Telecom
- Media & Entertainment
- Travel & Hospitality
- North America
- Latin America
- Western Europe
- Eastern Europe
- SEA and Other APAC