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

  • Report ID: 4160
  • Published Date: Feb 24, 2023
  • Report Format: PDF, PPT

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

Employee Advocacy Software Market size is poised to cross USD 100 Million by the end of 2035, growing at a CAGR of 8% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of employee advocacy software was over USD 43 Million. 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.


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Employee Advocacy Software Sector: 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

Employee Advocacy Software Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

8%

Base Year Market Size (2022)

USD 43 Million

Forecast Year Market Size (2035)

 USD 100 Million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Employee Advocacy Software 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:

                  By Type

  • On Premise
  • Cloud-Based

                 By Size of Enterprise

  • Large Enterprises
  • SMEs

                 By Application

  • Employee Amplification
  • Staff Retention
  • Customer Advocacy
  • Others

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Employee Advocacy Software Industry - Regional Synopsis

North America Market Forecast

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.

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Companies Dominating the Employee Advocacy Software Landscape

top-features-companies
    • 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

In the News

  • Hootsuite Inc. to launch Hootsuite Amplify, an integrated software with Microsoft Teams, that can enhance sharing capabilities for users.

  • G2.com Inc announced the G2 Syndication partnership with Microsoft (Azure, AppSource, and Microsoft Portal). Under this partnership experience, G2 will review and star ratings of 125,000+ software and services solutions.

 

Author Credits:  Abhishek Verma


  • Report ID: 4160
  • Published Date: Feb 24, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The growing employee advocacy tools amongst organizations to provide employee friendly work environment are the major factors driving the market growth.

The market is anticipated to attain a CAGR of 8% over the forecast period, i.e., 2023-2035.

Lack of proper setup features and infrastructure for advocacy software are estimated to be the growth hindering factors for the market expansion.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are MarketBeam Inc., Firstup, Inc., PostBeyond Inc., Sociabble, Inc., Influitive Corporation, GaggleAMP Inc., Smarp, SocioAdvocacy, Jubiwee, and ClearViewSocial.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by type, size of enterprise, application, and by region.

The cloud based segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Employee Advocacy Software Market Report Scope
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