North America employee monitoring solution market is expected to grow from US$ 150.13 Mn in 2018 to US$ 242.0 Mn by the year 2027. This represents a CAGR of 5.6% from the year 2018 to 2027. Employee monitoring solutions empower enterprises to track employees and gather other information to drive productivity and ensure security. The employee monitoring solutions provide various features such as activity analysis, smart rules and alerts, live views, monitoring keystroke logging, and file transfer tracking, among others. In the current market scenario, customers are becoming price-sensitive and are the focus on the timely delivery of products and services. Thus, to improve productivity and gain better visibility of the organization, companies are adopting employee monitoring solutions. Also, effective employee monitoring provides the employee the access to a more flexible working environment. Also, the employee monitoring solutions enables the managers to give the employees with effective feedback, as the manager can provide real tangible examples and area of improvement. Therefore, a strong focus of the companies towards the adoption of employee monitoring solutions to drive efficiency and reduce the operational cost is expected to drive the growth of the employee monitoring solution market.
SMEs account for the majority of businesses worldwide and 90% of businesses and more than 50% of employment worldwide. In today’s technology-driven ecosystem, SMEs face the challenge of deploying a better resource than their established competitors. This is mainly due to the limited finance and the small number of the team for every department. SMEs presume technology adoption as a costly affair. However, technologies such as employee monitoring solutions help hassle-free and better functioning of organizations and are therefore widely adopted by SMEs. Therefore, to gain better visibility into their organizations, improve productivity, and achieve better operational procedures, SMEs are widely adopting employee monitoring solutions. The growing adoption of employee monitoring solutions by SMEs is creating an opportunity for the players operating in the employee monitoring solution market to gain a strong customer base.
The North America employee monitoring solution market by offering is segmented into the solutions and services. Employee monitoring solutions are used to monitor the performance of employees in the organization, and an employee monitoring solution can measure productivity, ensure security, track attendance, and collect the number of hours worked. Presently, the companies operating in the employee monitoring solution market offer solutions for internal infrastructure monitoring, external cloud service monitoring, RTLS, and indoor positioning, mobile monitoring, and information governance. The employee monitoring solutions provide various advantages such as high productivity, data leak protection, and control over unwanted behavior. The companies of all sizes are focusing on adopting employee monitoring solutions to gain greater visibility of their firms and drive operational efficiencies. The growing business competitiveness has aided the growth in the deployment of employee monitoring solutions as various companies are focusing on increasing their productivity and achieving an effective return on investment (RoI). Also, the players operating in the employee monitoring solution market are highly focused on offering advanced solutions to gain a strong position in the employee monitoring solution market and generate more revenues.
The overall employee monitoring solution market size has been derived using both primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the North America employee monitoring solution market. It also provides an overview and forecast for the North America employee monitoring solution market based on all the segmentation provided with respect to the North America region. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America employee monitoring solution industry. Some of the players present in North America employee monitoring solution market are Awareness Technologies Inc, Birch Grove Software, Inc., Fairtrack, iMonitor Software, Netsoft Holdings, LLC, StaffCop, SentryPC, Teramind, Inc., Veriato, EfficientLab, LLC, Ekran Systems, Inc.