Employee Advocacy Software Market Size & Share, by Type (On Premise, Cloud-Based); Organization (Large Enterprises, SMEs); Application (Employee Amplification, Staff Retention, Customer Advocacy) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

 Global Employee Advocacy Software Market Definition  

The employee advocacy software helps the company to involve their employees in the latest news of the company, the software enables them to leverage the social media accounts of their employees for sharing the information and branded content of the company. On the other hand, this software also enables employees to build themselves as a personal brand, increase their account engagement and personal contacts, build meaningful relationship, and helps them to make faster progress in their lives.

These cutting-edge technological solutions provide real-time insight into performance, feedback, and interaction for both employers and employees. The information benefits both parties. Employees are better able to manage their "reputation" within a company and have easier access to beneficial mentoring and training opportunities. HR managers use this data to identify underutilized internal talent, enhance hiring and assignment choices, and better leverage their business brand. Building and enhancing the employee experience is the key.

There are different types of employee advocacy that can be integrated into the work culture of an organization. For instance, swag and merch, in this company merch and swag to their employees, and post it on social media, is a great way to highlight the company culture. Another method is giving incentives and recognition to the employees, in this, the achievement of the employee is cherished both privately and publicly.

Integrating employee advocacy software into the work culture has many benefits, including it increases brand awareness, and enhance employee performance. Moreover, it also increases the count of qualified leads that are interested in working for the company or doing business with them.

Global Employee Advocacy Software Market: Key Insights

Global Employee Advocacy Software Market Size, Forecast, and Trend Highlights Over 2023 - 2035

The global employee advocacy software market is estimated to garner a revenue of around USD 100 Billion by the end of 2035 by growing at a CAGR of ~14% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of nearly USD 43 Billion in the year 2022. The growth of the market can be attributed to the growing mindfulness amongst organizations for improving their employer brand. Engaging employee with the brand’s information also provides great opportunities for building better networks and also helps in their personal branding. For instance, it was noticed that companies with a successful employee advocacy program were 50% more likely to attract, and 20% more likely to retain new employees.

In addition to these, factors that are believed to fuel the market growth of employee advocacy software include the increasing adoption of employee advocacy tools, along with the increasing employee engagement amongst enterprises. Moreover, the growing number of young enterprises and businesses across the globe, is anticipated to boost the market growth. According to the data by the Organization for Economic Co-operation and Development, recently emerging young firms account for about 20% of employment and almost 50% of the new jobs on average across OECD countries, as of 2020. In addition to this, approximately 213 million companies were functioning worldwide in 2020.

Global Employee Advocacy Software Market: Growth Drivers and Challenges

Growth Drivers

• Increasing Employee Retention Rate in Companies Using Employee Advocacy Platforms- It is estimated that the presence of advocacy platforms could increase the employee retention rate to more than 35%. Moreover, employees are 20% more likely to stay in their current position with the company if they participate actively in employee advocate initiatives and campaigns.

• Greater Advantages, such as, Increased Visibility of Companies- Deployment of employee advocacy tools could improve the company’s visibility across social media platforms. For instance, organizations with advocacy software had 79% more visibility on social media.

• Increasing Penetration of Internet and Social Media Services- According to the data by the World Bank, 60% of the total global population was using internet services in 2020. Moreover, in 2021, more than 4.5 billion people were using social media platforms in the world. Around 92% of all internet users are on social media.

• Rapid Digitalization of Business Organization across the Globe- The increasing digitalization of enterprises, backed by higher dependency on technology, is estimated to boost the market growth. Moreover, it is estimated that over USD 2.35 trillion would be spent for the digital transformation across the globe by 2024.  

• Government Initiatives to Promote Start-Ups- It is best for early-stage startups to save money, and employee advocacy can be really helpful for advertising their business on social media. According to the statistics by OCED, France has set-up a USD 4.17 Billion fund to support start-up liquidity, Germany has announced a tailored start-up aid program, and the United Kingdom has announced a co-financing fund for innovative companies facing financial difficulties.

Challenges

• Lack of Proper Setup Features and Infrastructure - It is anticipated that factors such as the time-consuming and difficult initial team setup of the employee advocacy tools and the high cost of setting up the software would restrain market expansion. The platform's back end is complex in terms of functionality and might be challenging for some users to maintain. Along with the odd problems and glitches that affect the software's connectivity, messages on the employee advocacy tools come from a single email address that cannot be modified. The platforms may not always post at the best times for greatest attention, which varies for different social media networks, and certain employee advocacy tools are slow to browse and occasionally buggy. Hence these factors estimated to hinder the growth of the market.
• Slow Development in the Social Media Policies of Companies
• Rising Concerns for Data Safety

Market Segmentation

The global employee advocacy software market is segmented and analyzed for demand and supply by type into on premise and cloud based. Out of the two types, the cloud-based segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the growing adoption of cloud-based services amongst organizations. For instance, out of all IT services, cloud computing generates a revenue of almost USD 400 billion, as of 2021. Moreover, the ease of access of data in cloud services, backed by increasing penetration of remote working is estimated to fuel the segment growth.

The global employee advocacy software market is segmented and analyzed for demand and supply by type into on premise and cloud based. Out of the two types, the cloud-based segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the growing adoption of cloud-based services amongst organizations. For instance, out of all IT services, cloud computing generates a revenue of almost USD 400 billion, as of 2021. Moreover, the ease of access of data in cloud services, backed by increasing penetration of remote working is estimated to fuel the segment’s growth. Furthermore, there has been a growing adoption of cloud advertising among the companies that support the selection of ad-related data, and it is predicted to surge the segment’s growth in the market.

Our in-depth analysis of the global employee advocacy software market includes the following segments:

Global Employee Advocacy Software Market Regional Synopsis

The North American employee advocacy software market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market can be attributed majorly to the high number of IT companies in the region, along with growing government focus on providing employee friendly environment in offices. In fact, the IT sector in the United States is estimated to garner a revenue of USD 400 billion in 2022. Moreover, involvement of a large part of the population in the IT sector is also estimated to boost the demand for employee advocacy software in the region. U.S. tech industry employs more than 12 million workers as of 2020. Such factors are estimated to foster the market growth in the region.

Top Featured Companies Dominating the Global Employee Advocacy Software Market

• ClearViewSocial
  • Company Overview
  • Business Strategy
  • Key Product Offerings
  • Financial Performance
  • Key Performance Indicators
  • Risk Analysis
  • Recent Development
  • Regional Presence
  • SWOT Analysis
• MarketBeam Inc.
• Firstup, Inc.
• PostBeyond Inc.
• Sociabble, Inc.
• Influitive Corporation
• GaggleAMP Inc.
• Smarp
• SocioAdvocacy
• Jubiwee