Employee Advocacy Software Market size was over USD 485.57 million in 2024 and is poised to exceed USD 1.45 billion by 2037, witnessing over 8.8% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of employee advocacy software is evaluated at USD 556.34 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.
Growth Drivers
Challenges
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
8.8% |
Base Year Market Size (2024) |
USD 485.57 million |
Forecast Year Market Size (2037) |
USD 1.45 billion |
Regional Scope |
|
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 |
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By Size of Enterprise |
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By Application |
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North America Market Forecast
North America industry is set to dominate majority revenue share by 2037. 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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Author Credits: Abhishek Verma
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