The global employee monitoring software market is expected to grow at the CAGR of 8.4% during the forecast period. The employee monitoring software is used to monitor employees who may share confidential documents and trade secrets. Further, the changing work environment in organizations is demanding the internet and servers to monitor employee activities. The employee monitoring software helps organizations in detecting security breaches by monitoring employee behavior such as their web activities, emails, applications, file transfers, screenshots, documents, and others. Owing to these factors, there is an increase in demand for employee monitoring software by organizations.
The increasing need for enhanced control and supervision over employees in enterprises is propelling the growth of the employee software market in recent years. Nowadays, increasing digitalization in organizations is creating the need for employee monitoring software, in order to improve productivity and stop unruly behavior in the work environment. Particular large organizations such as call centers use this software to get complete traceability and visibility of their operations.
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In addition to these, organizations offering connectivity tools to employees are fostering the growth of the employee monitoring software market in the last few years. However, the high installation cost of employee monitoring software is obstructing the growth of the market. Moreover, the growing demand for employee monitoring software from large enterprises to monitor the performance of their employees, is creating opportunities for the market during the forecast period.
The employee monitoring software market in segmented based on its deployment, organization size, and region. Based on the organization size, the market is further segmented into large enterprises and small and medium enterprises. The large enterprises segment dominated the market in 2018, owing to an increase in the use of employee monitoring software in order to increase the productivity and efficiency of employees.
The major key players involved in monitoring software market are Atom Security, Inc , Wangya Computer Co., Ltd., iMonitor EAM , Teramind Inc., Veriato 360, InterGuard, Trend Micro Worry, Stackdriver, Pearl Echo.Suite, SentryPC, and others. Companies involved in this market are concentrating on research and development, along with acquisitions & mergers and innovations in products, in order to strengthen their market share. For instance, in March 2019, Teramind Inc., a leading provider of insider threat detection, employee monitoring, and data loss prevention solution, has announced the launch of privacy-friendly software solutions. This privacy-friendly software solution will help organizations to comply with changing data privacy requirements by implementing employee monitoring software for insider threat detection.
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