Employee Advocacy Software Market Size

Employee Advocacy Software Market size was over USD 446.3 Million in 2023 and is poised to cross USD 1.29 Billion by the end of 2036, growing at more than 8.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of employee advocacy software is estimated at USD 484.7 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.