The employee advocacy software market is anticipated to experience a CAGR of 8.5% during the period ranging from 2022 to 2032. The market is anticipated to reach USD 930.7 Million in 2032, up from USD 410 Million in 2022. From 2021 to 2022, the market registered a Y-o-Y growth rate of 9.3%, rising from a valuation of USD 375 Million.
Employee advocacy software provides a simple and intuitive interface and is easy to use for users and admins. This is an essential factor that is expected to accelerate the growth of the Employee Advocacy Software market during the forecast period.
Key factors such as quick and simple communication of new information, without sending loads of emails, and increased employee engagement relative to sharing the company’s original and curated content by allowing them to share easily are expected to accelerate the growth of the Employee Advocacy Software market over the analysis period.
| Attributes | Details |
|---|---|
| Employee Advocacy Software Market CAGR (2022 to 2032) | 8.5% |
| Employee Advocacy Software Market (2022) | USD 410 Million |
| Employee Advocacy Software Market (2032) | USD 930.7 Million |
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Increasing adoption of Employee Advocacy Software Tools Boosting prospects
Employee advocacy software enables companies to engage their workforce to share branded content and information via social channels. With these tools, brands are able to build pre-approved content libraries for their employees to access to share via mobile, email, or social media.
These tools not only help broaden a company's social presence by engaging its employees, but they also allow social media managers to have more control over the company's voice and messaging on social channels.
In addition, employee advocacy tools often play a part in companies’ social selling strategies, enabling sales representatives to effectively communicate with prospects and customers on social channels. Many of these tools offer gamification features to promote a higher volume of sharing amongst employees. All aforementioned factors are expected to propel the market growth during the forecast period.
Further, providing social integrations to allow the company's employees to share messaging and/or content directly from the platform is anticipated to be another factor boosting the growth of the market over the analysis period.
There has been a massive adoption of advanced employee advocacy software tools among organizations, which provides helpful as well as knowledgeable customer support. Companies’ employees are using these tools to share relevant stories and content to share with their followers.
The advocacy software provides a simple and intuitive interface, which is easy to use for users and admins. The advocacy tools streamline and simplify managing the social sharing of employee advocates and allow for posts to be set up in advance with the help of features including scheduling functionality.
The employee advocacy software offers advanced features such as quick and effective communication for international teams, allowance for separate leader boards, streams, and accounts, engaging gamification for employees, easy-to-use templates, and targeted message customization, among others. All these factors are expected to augment the growth of the Employee Advocacy Software Market over the analysis period.
The absence of a Solid Social Media Policy hampers Market Growth
The reason a lot of companies shy away from employee advocacy is the fear of letting everyone loose on social media to communicate. Icons for social media platforms such as Facebook, LinkedIn, and Twitter appear on all posts, which can be confusing for employees who are supposed to share that content on specific platforms rather than all three.
There is an absence of solid social media policy in Employee advocacy tools, due to which employees are not able to read, sign and fully understand the guidelines which have been set. These factors are expected to restrain the market growth during the forecast period.
Lack of Proper Setup Features to Impede Market Growth
Factors such as the lengthy and complicated initial team setup of the employee advocacy tools and the high cost of setting up the software are expected to hamper the market growth. In terms of functionality, the back end of the platform is complicated and difficult for some users to manage.
Messages on the employee advocacy tools come from one email address, which cannot be changed, along with the presence of occasional bugs and glitches that impact the connectivity of the software.
Some employee advocacy tools are slow for browsing and are buggy at times, and the platforms do not automatically post at optimized times for maximum attention, which varies for different social media channels. All these factors are expected to hinder the growth of the employee advocacy software market during the forecast period.
Increase in employee engagement among organizations to fuel the market growth
Key factors such as quick and simple communication of new information, without sending loads of emails, and increased employee engagement relative to sharing the company’s original and curated content by allowing them to share easily are expected to accelerate the growth of the Employee Advocacy Software market over the analysis period.
In addition, the employee advocacy software offers sharing of curated content, coupled with personalization as well as customization of content, which is also expected to drive market growth.
Features such as recommendation times during the week to post content on social media, to get the best engagement, flexible scheduling for social media plug-ins, easy interface for users, and effective and robust analytics reporting will augment the market growth in the forthcoming years.
A cloud-based segment to witness considerable CAGR for the market growth
The cloud-based type of the Employee Advocacy Software Market accounts for the highest CAGR of 8.3% during the forecast period. Under type segment, cloud-based type of Employee Advocacy Software will dominate the market over the forecast period, as the cloud technology provides better flexibility, a high degree of security, and a level of control and it is also a cost-effective solution.
The Cloud-based type helps businesses to accomplish cross-channel communication with their customers, enabling them to send information via emails, text messages, push alerts, in-app, and web notifications, as well as on-site warnings. It can also be used to share online and offline reviews as well as feedback reports with customers.
Large Enterprises segment to hold Considerable Sway
The large enterprise segment of the Employee Advocacy Software Market accounts for the highest CAGR of 8.1% during the forecast period, attributed to the increasing demand, particularly from this segment.
Owing to the high number of employees working in large enterprises, there has been an increasing demand for employee advocacy software in such organizations. The advocacy software helps employees (a vast number) in large enterprises to communicate easily and enables them to share their views on a particular matter.
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Adoption of new technology to Widen the Scope of market
North America is expected to dominate the employee advocacy software market, owing to the immediate adoption of new and emerging technologies and the presence of significant market players in the region.
The USA is expected to hold a significant position in the employee advocacy software market, experiencing a CAGR of 8.3% during the forecast period, and is expected to reach USD 322.5 Million.
Employee Advocacy Software Market in China and Japan to Witness Better Growth Opportunities
The Asia Pacific region is expected to grow at a significant CAGR during the forecast period, owing to the growing adoption of employee advocacy software in the region. The growing awareness for enhancing employee experience in key countries, such as China, and Japan is expected to fuel the adoption of employee advocacy software in the APAC region.
China is expected to represent the highest CAGR of 7.7% in the employee advocacy software market during the forecast period and is expected to reach USD 67.6 Million during the forecast period. On the other hand, Japan is expected to represent the highest CAGR of 6.8% in the employee advocacy software market during the forecast period and is expected to reach USD 55.4 Million during the forecast period.
DrumUp, Hootsuite, Bambu, GaggleAMP, Influitive, EveryoneSocial, Sociabble, PostBeyond, Dynamic Signal, Smarp, ClearView, MarketBeam, SocioAdvocacy, Ambassify, and RFactr, among others are the top companies in the global Employee Advocacy Software Market.
With a sizable employee advocacy software market share, these main firms are concentrating on growing their consumer base in new countries. These businesses are making use of strategic collaboration initiatives to grow their market share and profits.
Mid-size and smaller businesses, on the other hand, are expanding their market presence by gaining new contracts and entering new markets, thanks to technical developments and product innovations.
As of 2021, the market for employee advocacy software was valued at USD 375 Million, as per FMI
By 2022-end, sales of employee advocacy software closed at a value of USD 410 Million
From 2017 to 2021, employee advocacy software demand expanded at a CAGR of 9.4%
From 2022 to 2032, employee advocacy software sales are expected to flourish at a CAGR of 8.5%
By 2032, the market value of employee advocacy software is expected to reach USD 930.7 Million.
From 2022 to 2032, employee advocacy software demand in the USA is expected to surge at a CAGR of 8.3%
By type, the cloud-based category constitutes the bulk of market share with a CAGR of 8.3%.
By application, the large enterprises category is expected to dominate the market with a CAGR of 8.1%.
| Base year Market Value (2022) | USD 921.3 million |
|---|---|
| Projected year Market Value (2033) | USD 1,976.1 million |
| CAGR (2023 to 2033) | 7.3% |
| Market Share (2023) | USD 4,041.4 million |
|---|---|
| Market Share (2033) | USD 16,538.7 million |
| Market CAGR (2023 to 2033) | 15.1% |
| Estimated Year Market Value (2022) | USD 8,091.1 Million |
|---|---|
| Projected Year Market Value (2032) | USD 13,791.4 Million |
| CAGR (2022 to 2032) | 5.5% |
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Employee Advocacy Software Market
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