Europe's employee monitoring solution market is expected to grow from US$ 195.02 Mn in 2018 to US$ 339.86 Mn by the year 2027. This represents a CAGR of 6.5% from the year 2018 to 2027.
Employee monitoring solutions are also used as a surveillance tool by organizations to track- employee email, phone activity, browsing history, and time spent on social media, overall internet activity, and remote device access. Companies related to BFSI, IT, and telecom, the Government sector are more exposed to the risk of insider attacks as they handle sensitive data such as trade secrets, IP, customer and employee data, and more. The financial services industry has the highest exposure to a cyber-breach and insider misuse, followed by the consumer, retail and wholesale, consumer, retail and wholesale, and power and utilities. Thus organizations adopt employee monitoring solutions to gain early signs of insider threats and avoid the data leaks. Thus, the growing focus towards eliminating the threat of insider attack is positively impacting the employee monitoring solution market.
Social media is used in businesses for communication and marketing purposes. However, uncontrolled access can harm the productivity of the organization. Also, the employees can accidentally share sensitive information on these platforms. Social media platforms are also used by hackers and scammer for phishing and other exploitation attacks. Thus, to avoid insider attacks and prevent enterprise resource allocation, organizations are adopting employee monitoring solutions that are driving the growth of the employee monitoring solution market.
Employee monitoring solutions empower enterprises to track employees and gather other information to drive productivity and ensure security. The employee monitoring solutions provide various features such as activity analysis, smart rules and alerts, live views, monitoring keystroke logging, and file transfer tracking, among others. In the current market scenario, customers are becoming price-sensitive and are the focus on the timely delivery of products and services. Also, the employee monitoring solutions enables the managers to give the employees with effective feedback, as the manager can provide real tangible examples and area of improvement. Thus versatile benefits offered by these solutions are driving the growth of the employee monitoring solution market.
The Europe employee monitoring solution market by organization size is segmented into the SMEs and large enterprises. Large enterprises across the globe are focused on cost optimization, along with increasing overall productivity. To achieve these goals, they are adopting employee monitoring solutions, which are, in turn, driving the growth of the employee monitoring solution market. The large enterprises are facing challenges such as enhanced regulatory environment, intense competition due to customers’ sensitivity toward prices, and quick delivery of products. To address these requirements, large enterprises are focusing on improving efficiencies by adopting advanced technology solutions. Large enterprises have a large number of employees spread over different locations, and they might find it difficult to keep track of each employee. Thus, large enterprises prefer deploying employee monitoring solutions to gain better visibility of their organizations, thereby driving the growth of the employee monitoring solution market.
The overall employee monitoring solution market size has been derived using both primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Europe employee monitoring solution market. It also provides an overview and forecast for the Europe employee monitoring solution market based on all the segmentation provided with respect to the Europe region. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe employee monitoring solution industry. Some of the players present in Europe employee monitoring solution market are Awareness Technologies Inc, Clever Security Software Ltd, Ekran Systems, Inc., iMonitor Software, Intego, Pilixo, SentryPC, StaffCop, Teramind, Inc., Veriato.