No.3035
People Analytics Solutions Market in Japan: Key Research Findings 2022
People Analytics Solutions Market Size for FY2021 Rose by 31.7% to 3,045Million Yen
Yano Research Institute (the President, Takashi Mizukoshi) carried out a survey on the domestic people analytics solutions market, and found out the trends of market players and user companies, and future perspectives.
Market Overview
The market size of people analytics solutions for 2021 rose by 31.7% to 3,045 million yen.
The market has been boosted by various factors such as shift of decision making from instinct and experiences basis to that on data, conversion from conventional HR management to strategic optimal utilization of human resources, and acceleration of digitalized, one-stop HR data management. Such changes in the market environment have led HR data to be made use of in various measures. Increase of people-analytics solution vendors has also contributed in the market growth.
Noteworthy Topics
Moves to Disclose Information on Human Capital Becoming Vigorous
With rising interests in human capital (an idea of employees, and all of the knowledge, skills, experience, etc. that they have, which makes them valuable to a company or economy) mainly among investors who want to grasp the utilization statuses of human resources in and out of the country, there have been vigorous moves to disclose information on human capital.
In Japan, Cabinet Secretariat has launched a “Committee for Visualizing Non-Financial Information” in February 2022 aiming to form a policy on the method to evaluate the values of non-financial information including human capital. As companies are required to collect and analyze HR data to disclose human capital information, it is likely that increasing number of companies to adopt people analytics solutions as a method to disclose human capital information.
Future Outlook
People analytics solutions market size for 2022 is likely to rise by 34.0% to 4,080million yen.
As mentioned above, the market growth has been encouraged by environmental changes such as acceleration of data utilization for decision making and information management in the area of human resources, and shift from “passive HR management” carrying out daily tasks to “strategic HR management” based on management strategies and human management. The growth of this market is expected to accelerate furthermore as more companies take steps to disclose human capital information, especially in 2022 and 2023.
CAGR (compound annual growth rate) of the people analytics solutions market from 2019 to 2025 remains strong at 32.5%, with the market size expected to be 9,500 million yen by 2025.
Research Outline
2.Research Object： People analytics solution providers
3.Research Methogology： Face-to-face interviews by the specialized researchers, survey via telephone and email, and literature search
About People Analytics Solution Market
People analytics is the method to solve the HR issues by collecting and analyzing diverse data centered on human resources field. People analytics solutions in this research refer to the solutions that analyze human resources data to turn into insights and forecasts as well as consulting associated with them. Consulting-only services, generic BI tools, and statistical analytic software are not included.
The market size of people analytic solutions in this research is calculated by adding up the license sales at providers of people analytic solutions (based on end-user price delivered) and the sales via cloud services. No sales by consulting, SI, and maintenance support are included.
＜Products and Services in the Market＞
People Analytics Solutions
Published Report
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