The digital era has transformed the average workplace. Organizations are growing at an exponential rate, making work more dynamic and digitalized which is increasing management challenges for organizations around the world. Virtualization has changed the work environment. Companies are focusing on monitoring activities on servers especially to monitor employee activities. There are various hardware and software solutions available in the market to monitor a vast array of activities.
These solutions can keep track of outgoing and incoming chats and e-mails, application and website usage, comprehensive file usage, interaction of windows with internet packet data, desktop screenshots, software installations, keystrokes typed and others. Employee monitoring software (EMS) provides the activities recorded in a readable graphical format. Managers can send specific signals to inform management when an employee performs an action which is not meeting productivity goals.
Employee monitoring solutions helps in achieving maximum productivity at minimum cost while maintaining a high level of information security. It gives employers a chance to find talented and hard-working individuals from all over the world and use their potential. Monitoring solutions dramatically decrease non-work related computer usage, cutting productivity drain.There are different kinds of employee monitoring software solutions in the market.
Some keep track of the internet used by employees. Some of the solutions provide tools that denies access to websites that the employees are not supposed to visit. EMS helps organizations in future strategies and interventions. Employee monitoring solutions can be used in silent mode permitting the employers to monitor employees undetected or in transparent mode.
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EMS helps in reducing and preventive counter-productive behavior which is contributing significantly to the growth of the market. It helps in increasing security and guaranteeing compliance with corporate policies. Companies tend to deploy employee monitoring solutions to optimize use of resources by preventing the high and unnecessary cost of creating shelfware and thus ensure capacity planning. Thus, all these factors are expected to drive the market growth during the forecast period.
Lack of awareness regarding the functioning of employee monitoring solutions is a major challenge in the growth of the EMS market. There are certain legal and ethical issues concerning privacy and security of employee. Governments of different nations have different regulations related to the right to privacy of employees. Thus, all such factors are anticipated to restrain the market growth during the forecast period.
The employee monitoring solutions market can be segmented on the basis of component, type, enterprise size, and geography. While considering component, the market is segmented into hardware and software. The market on the basis of enterprise size can be segmented into large size enterprise, and small and medium size enterprise.
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The market on the basis of type is segmented into on-premise employee monitoring software and cloud-based employee monitoring software. Cloud based monitoring solutions are expected to grow significantly owing to the rising adoption of cloud. Geographical segmentation of the employee monitoring solutions market includes North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America.
Key players operating in the employee monitoring solutions market includes Monitis, Teramind, Veriato 360, SentryPC, NetVizor, InterGuard, Quest Foglight, Work Examiner, OsMonitor, iMonitor EAM, Pearl Echo Suite, WorkTime, Symantec, Trend Micro, StaffCop, BetterWorks, SpectorSoft, and StackDriver. Major players are adopting different strategies such as mergers & acquisitions, investment in R&D, developing advanced and innovative technologies, etc. in order to gain competitive advantage in the market.