Employee Recognition Software Market Report 2025 (Global Edition)

Global Employee Recognition Software Market Report 2024 Market Size Split by Type (Cloud Based, Web Based), by Application (Large Enterprises, SMEs), by Industry vertical (Manufacturing, Healthcare, I...

Employee Recognition Software Market Report Description

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Employee Recognition Software Market Insights Video

Competitive Landscape of the Employee Recognition Software Market

In the Employee Recognition Software Market's competitive landscape, numerous key competitors are driving innovation and growth. These companies provide a broad range of tools for performance management, employee engagement platforms, and rewards and recognition schemes. Market rivalry is encouraging technological and design innovations to provide recognition that fulfill both consumer wants and sustainability goals, keeping the market dynamic and competitive.

In September 2022, Lattice was introduced Lattice Connect is a network that enables its customers to improve employee success plans that help accelerate their company's expansion. By providing the opportunity to collaborate, onboard, or discover the ideal partner, it improves the capacity to maintain employee engagement and raise performance. (Source: https://lattice.com/fr/blog/lattice-announces-lattice-connect-partner-ecosystem-to-help-organizations-maximize-people-success) In November 2022, Vantage Circle established an alliance with a provider of team collaboration software to improve its capacity for engaging employees. The organizations want to provide an all-in-one platform for communication and collaboration among employees. (Source: https://www.vantagecircle.com/) In November 2022, Leapsome GmbH declared its intention to enter the American market as a result of the expanding HR technology market. The organization provides learning, development, and engagement measurement in a single, integrated package. (Source: https://www.leapsome.com/)

Top Companies Market Share in Employee Recognition Software Industry: (In no particular order of Rank)

• Guusto
• Inspirus (Sodexco)
• Workhuman
• Terryberry
• Bucketlist
• Vantage Circle
• Assembly
• Motivosity
• Blueboard
• Nectar
• Reward Gateway
• WorkTango (formerly Kazoo)
• Achievers
• Awardco
• Bonusly
• C.A. Short
• Confidential Data
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• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Employee Recognition Software Market

Which Region Dominates the Employee Recognition Software Market in 2024?

According to Cognitive Market Research, North America currently dominates the employee recognition software market, and the region is expected to have significant growth during the projected period. This is due to the region's increasing investment in digital solutions and HR tech tools. Mexico is currently spending money on employee-focused products in order to increase employee productivity and secure the country's corporate continuity following the pandemic.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). Growth in the market is anticipated to be driven by the rising number of small and medium-sized businesses in the area that prioritize employee retention. Additionally, governments everywhere are assisting workers in achieving a work-life balance and an open workplace culture.

The current report Scope analyzes Employee Recognition Software Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Employee Recognition Software Market

According to Cognitive Market Research, the global Employee Recognition Software Market size was estimated at USD 36214.2 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 14485.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Employee Recognition Software Market with a market size of USD 11429.20 million in 2024 and is projected to grow at a CAGR of 5.5% during the forecast period. The U.S. market's Stringent governmental regulations against employees recognition.
• The Canada Employee Recognition Software Market had a market share of USD 1738.28 million in 2024 and is projected to grow at a CAGR of 6.5% during the forecast period. Canada’s rising awareness among the population.
• The Mexico Employee Recognition Software Market is projected to witness growth at a CAGR of 6.2% during the forecast period, with a market size of USD 1318.20 million in 2024.

Europe Employee Recognition Software Market

According to Cognitive Market Research, the global Employee Recognition Software Market size was estimated at USD 36214.2 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 10864.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.0% from 2024 to 2031.

• The United Kingdom Employee Recognition Software Market had a market share of USD 1825.20 million in 2024 and is projected to grow at a CAGR of 6.8% during the forecast period. In the UK, Employee Recognition Software sales witness an upswing due to the increasing awareness about employee recognition.
• The France Employee Recognition Software Market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 999.51 million in 2024.
• According to Cognitive Market Research, the German Employee Recognition Software Market size was valued at USD 2151.12 million in 2024 and is projected to grow at a CAGR of 6.2% during the forecast period. In Germany, Employee Recognition Software surged due to the Increased focus of the manufacturers and major market players.
• The Italy Employee Recognition Software Market is projected to witness growth at a CAGR of 5.4% during the forecast period, with a market size of USD 934.33 million in 2024.
• The Russia Employee Recognition Software Market is projected to witness growth at a CAGR of 5.0% during the forecast period, with a market size of USD 1683.96 million in 2024.
• The Spain Employee Recognition Software Market is projected to witness growth at a CAGR of 5.1% during the forecast period with a market size of USD 890.87 million in 2024
• The Luxembourg Employee Recognition Software Market is projected to witness growth at a CAGR of 6.1% during the forecast period, with a market size of USD 336.79 million in 2024.
• The Portugal Employee Recognition Software Market is projected to witness growth at a CAGR of 5.8% during the forecast period, with a market size of USD 228.15 million in 2024.
• The Greece Employee Recognition Software Market is projected to witness growth at a CAGR of 6.3% during the forecast period, with a market size of USD 130.37 million in 2024.
• The Rest of Europe's Employee Recognition Software Market is projected to witness growth at a CAGR of 4.7% during the forecast period, with a market size of USD 1683.96 million in 2024.

Asia Pacific Employee Recognition Software Market

According to Cognitive Market Research, the global Employee Recognition Software Market size was estimated at USD 36214.2 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 8329.27 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.5% from 2024 to 2031.

• According to Cognitive Market Research, the China Employee Recognition Software Market size was valued at USD 3748.17 million in 2024 and is projected to grow at a CAGR of 9.0% during the forecast period. Employee Recognition Software surged in China due to Increased focus of the manufacturers and major market players.
• The Japan Employee Recognition Software Market is projected to witness growth at a CAGR of 8.0% during the forecast period, with a market size of USD 1149.44 million in 2024.
• The India Employee Recognition Software Market had a market share of USD 999.51 million in 2024 and is projected to grow at a CAGR of 11.3% during the forecast period. India's rising awareness among the employees.
• The South Korean Employee Recognition Software Market is projected to witness growth at a CAGR of 8.6% during the forecast period, with a market size of USD 832.93 million in 2024.
• The Australian Employee Recognition Software Market is projected to witness growth at a CAGR of 9.2% during the forecast period, with a market size of USD 433.12 million in 2024.
• The South East Asia Employee Recognition Software Market is projected to witness growth at a CAGR of 10.5% during the forecast period, with a market size of USD 574.72 million in 2024.
• The Rest of Asia Pacific Employee Recognition Software Market is projected to witness growth at a CAGR of 9.3% during the forecast period, with a market size of USD 591.38 million in 2024.

South America Employee Recognition Software Market

According to Cognitive Market Research, the global Employee Recognition Software Market size was estimated at USD 36214.2 Million, out of which the Latin America held the market share of around 5% of the global revenue with a market size of USD 1810.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.9% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Employee Recognition Software Market size was valued at USD 774.98 million in 2024 and is projected to grow at a CAGR of 7.5% during the forecast period. Employee Recognition Software flourished in Brazil due to increasing demand for cloud based solutions.
• Argentina's Employee Recognition Software Market had a market share of USD 304.20 million in 2024 and is projected to grow at a CAGR of 7.8% during the forecast period. Argentina's rising integration of advanced technologies.
• Colombia Employee Recognition Software Market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 161.15 million in 2024.
• Peru Employee Recognition Software Market is projected to witness growth at a CAGR of 7.1% during the forecast period, with a market size of USD 148.48 million in 2024.
• Chile Employee Recognition Software Market is projected to witness growth at a CAGR of 7.2% during the forecast period, with a market size of USD 130.37 million in 2024.
• The Rest of Latin America's Employee Recognition Software Market is projected to witness growth at a CAGR of 6.0% during the forecast period, with a market size of USD 291.52 million in 2024.

Middle East and Africa Employee Recognition Software Market

According to Cognitive Market Research, the global Employee Recognition Software Market size was estimated at USD 36214.2 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 724.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031..

• The GCC Countries Employee Recognition Software Market is projected to witness growth at a CAGR of 8.0% during the forecast period, with a market size of USD 309.99 million in 2024. Employee Recognition Software sales flourish due to the presence of major market players.
• The Egypt Employee Recognition Software Market is projected to witness growth at a CAGR of 7.5% during the forecast period, with a market size of USD 76.05 million in 2024.
• The South Africa Employee Recognition Software Market is projected to witness growth at a CAGR of 8.2% during the forecast period, with a market size of USD 114.44 million in 2024. Employee Recognition Software sales flourished in South Africa due to increasing demand and regulatory support.
• The Turkey Employee Recognition Software Market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 62.29 million in 2024.
• The Nigeria Employee Recognition Software Market is projected to witness growth at a CAGR of 6.3% during the forecast period, with a market size of USD 76.05 million in 2024.
• The Rest of the MEA Employee Recognition Software Market is projected to witness growth at a CAGR of 6.2% during the forecast period, with a market size of USD 85.47 million in 2024.

Employee Recognition Software Market Analysis

Employee Recognition Software Market Type Segment Analysis

According to Cognitive Market Research, cloud based are likely to dominate the Employee Recognition Software Market over the forecast period. Users of cloud-based employee recognition software can easily access their apps from tablets and other internet-connected devices. This kind of software has the best scalability, customisation, and security levels. It is also highly optimized. It is quick, easy to use, and capable of giving staff members incentives and other forms of recognition in a timely manner.

The web based is the fastest-growing segment in the Employee Recognition Software Market. Employees can self-define their achievements and share them with the entire organization with the help of web-based employee recognition software, which gives users access to these capabilities in real time. It offers a precise tracking of employee performance and an interactive dashboard.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Employee Recognition Software Industry. Request a Free Sample PDF!

Employee Recognition Software Market Application Segment Analysis

According to Cognitive Market Research, the large enterprise segment holds the largest share of the market. Since most large businesses employ more than 1000 people, it is hard to personally evaluate each employee's performance. Large companies use employee recognition software as a result to encourage and enhance employee appreciation.

In the Employee Recognition Software Market, the SMEs sector has been expanding at a rapid pace. It is anticipated that software integration will improve employee identification and communication inside the organizations. Therefore, it is anticipated that increased attention to employee management transparency will spur market expansion.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Employee Recognition Software Industry vertical Segment Analysis

Employee Recognition Software Market Industry Vertical Segment Analysis

According to Cognitive Market Research, The retail segment holds the largest market share. The retail sector's increased investment in cutting-edge technologies to improve operational efficiency and customer happiness in order to retain customers is the reason for the greatest share of consumer goods and retail.

In the Employee Recognition Software Market, the rapidly growing sector is the IT and Telecom category. The growth in this category is induced due to the industry's high degree of employee appreciation and vast global workforce.

• Manufacturing
• Healthcare
• IT and Telecom
• BFSI
• Retail
• Transportation and Logistics
• Others

Author's Detail

Kalyani Raje

Senior Research Analyst at Cognitive Market Research

LinkedIn

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ResearchGate Profile: https://www.researchgate.net/profile/Kalyani-Raje

An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile and transportation vertical.

Author's Conclusion