North America 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.
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.
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Market Overview and Dynamics
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.
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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
- Achievers Solutions Inc.
- Appreiz Inc.
- BI Worldwide
- Globoforce Limited (Workhuman)
- Kudos Inc.
- Terryberry
- Semos Cloud
- Nectar HR
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 North America Social Employee Recognition System Market – By Country
2. North America Social Employee Recognition System Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Social Employee Recognition System Market – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 Social Employee Recognition System Market- North America PEST Analysis
4.3 Expert Opinion
4.4 Ecosystem Analysis
5. North America 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 – North America Analysis
6.1 North America Social Employee Recognition System Market Revenue Forecasts and Analysis
7. North America 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. North America 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. North America 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. North America 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 North America: Social Employee Recognition System Market
11.1.1 Overview
11.1.2 North America: Social Employee Recognition System Market, by Country, 2021 & 2028 (%)
11.1.2.1 US: Social Employee Recognition System – Revenue, and Forecast to 2028 (US$ Million)
11.1.2.1.1 US: Social Employee Recognition System, By Component
11.1.2.1.2 US: Social Employee Recognition System Market, By Deployment Model
11.1.2.1.3 US: Social Employee Recognition System Market, By Reward Type
11.1.2.1.4 US: Social Employee Recognition System Market, By Industry
11.1.2.2 Canada: Social Employee Recognition System – Revenue, and Forecast to 2028 (US$ Million)
11.1.2.2.1 Canada: Social Employee Recognition System, By Component
11.1.2.2.2 Canada: Social Employee Recognition System Market, By Deployment Model
11.1.2.2.3 Canada: Social Employee Recognition System Market, By Reward Type
11.1.2.2.4 Canada: Social Employee Recognition System Market, By Industry
11.1.2.3 Mexico: Social Employee Recognition System – Revenue, and Forecast to 2028 (US$ Million)
11.1.2.3.1 Mexico: Social Employee Recognition System, By Component
11.1.2.3.2 Mexico: Social Employee Recognition System Market, By Deployment Model
11.1.2.3.3 Mexico: Social Employee Recognition System Market, By Reward Type
11.1.2.3.4 Mexico: Social Employee Recognition System Market, By Industry
12. Impact Of COVID-19 Pandemic on North America Social Employee Recognition System Market
12.1 North America: 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 Achievers Solutions Inc.
14.1.1 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 Appreiz Inc.
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 BI Worldwide
14.3.1 1.3.1 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 Globoforce Limited (Workhuman)
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 Kudos Inc.
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
14.6 Terryberry
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Semos Cloud
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Nectar HR
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
15. Appendix
15.1 About the Insight Partners
15.2 Glossary of Terms
LIST OF TABLES
Table 1. US: Social Employee Recognition System, By Component –Revenue and Forecast to 2028 (US$ Million)
Table 2. US: Social Employee Recognition System Market, By Deployment Model–Revenue and Forecast to 2028 (US$ Million)
Table 3. US: Social Employee Recognition System Market, By Reward Type–Revenue and Forecast to 2028 (US$ Million)
Table 4. US: Social Employee Recognition System Market, By Industry–Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada: Social Employee Recognition System, By Component –Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada: Social Employee Recognition System Market, By Deployment Model–Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada: Social Employee Recognition System Market, By Reward Type–Revenue and Forecast to 2028 (US$ Million)
Table 8. Canada: Social Employee Recognition System Market, By Industry–Revenue and Forecast to 2028 (US$ Million)
Table 9. Mexico: Social Employee Recognition System, By Component –Revenue and Forecast to 2028 (US$ Million)
Table 10. Mexico: Social Employee Recognition System Market, By Deployment Model–Revenue and Forecast to 2028 (US$ Million)
Table 11. Mexico: Social Employee Recognition System Market, By Reward Type–Revenue and Forecast to 2028 (US$ Million)
Table 12. Mexico: Social Employee Recognition System Market, By Industry–Revenue and Forecast to 2028 (US$ Million)
Table 13. Glossary of Terms, Social Employee Recognition System Market
LIST OF FIGURES
Figure 1. Social Employee Recognition System Market Segmentation
Figure 2. North America Social Employee Recognition System Market Overview
Figure 3. Platform Segment Held Largest Share of Component in Social Employee Recognition System Market
Figure 4. Canada is Expected to Show Remarkable Growth During the Forecast Period
Figure 5. Social Employee Recognition System Market - North America PEST Analysis
Figure 6. Social Employee Recognition System Market Impact Analysis of Driver and Restraints
Figure 7. North America 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. North America: Social Employee Recognition System Market, by Key Country – Revenue (2021) (USD Millions)
Figure 28. North America: Social Employee Recognition System Market, by Country, 2021 & 2028 (%)
Figure 29. US: Social Employee Recognition System – Revenue, and Forecast to 2028 (US$ Million)
Figure 30. Canada: Social Employee Recognition System – Revenue, and Forecast to 2028 (US$ Million)
Figure 31. Mexico: Social Employee Recognition System – Revenue, and Forecast to 2028 (US$ Million)
Figure 32. Impact of COVID-19 Pandemic in North American Country Markets
- Achievers Solutions Inc.
- Appreiz Inc.
- BI Worldwide
- Globoforce Limited (Workhuman)
- Kudos Inc.
- Terryberry
- Semos Cloud
- Nectar HR
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