Asia Pacific Social Employee Recognition System Market Market to Grow at a CAGR of 12.3% to reach US$ 3,545.01 million from 2021 to 2028
The Asia Pacific social employee recognition system market share is expected to grow from US$ 1,599.81 million in 2021 to US$ 3,545.01 million by 2028; it is estimated to grow at a CAGR of 12.3% during 2021–2028.
Social employee recognition systems are designed to recognize an employee's contribution to the company's success. Such solutions enhance staff morale and reward their participation in key tasks. Social employee recognition systems are frequently used in practically all businesses due to their technological innovation. Over the forecast period, the Asia Pacific market for social employee recognition systems is expected to increase significantly.Employees increasingly use social media websites and applications for collaboration, integration, and expert assistance. The market for workplace social networks and online communities is growing. As a result, the market for workplace social networks and online communities is growing, paving the way for social employee recognition systems. Due to the high presence of large organizations and hefty expenditure budgets, social employee recognition systems are implemented exponentially high in retail and consumer goods and IT and telecom. The adoption of social employee recognition systems is limited as they are not a requirement but rather a value that adds to current costs.
Impact of COVID-19 Pandemic on Asia Pacific Social Employee Recognition System Market
Asia Pacific is characterized by many developing countries, a positive economic outlook, a high industrial presence, and a huge population. The high growth rate of urbanization in developing countries of the region is anticipated to offer ample growth opportunities to the market players operating in the social employee recognition system market, as the investments in advanced technologies development are high in the region. According to the Organization for Economic Co-operation and Development (OECD), the other major economies outside China were impacted by the COVID-19 pandemic, such as India, South Korea, Australia, and Japan, and experienced downward growth. China and India were among the worst-affected COVID-19 countries worldwide. The government took drastic measures to reduce the effects of the COVID-19 outbreak by announcing lockdowns, travel, and trade bans. The SMEs were substantially seeking funding to run their operations due to shut down and limited capital to manage. Therefore, these end users showcased less potential in adopting new technologies by investing a certain amount in the present scenario. For instance, Achievers Solutions Inc. announced its integration with WellRight, a leading corporate wellness program and configurable platform designed to boost engagement and support employees in their wellness journeys. Moreover, the firms started working from home, and the demand for software solutions mounted gradually, even during the COVID-19 pandemic. Thus, this disruption hardly affected the market, which boosted the Asia Pacific social employee recognition systems market growth.
Asia Pacific Social Employee Recognition System Market Insights
Growing Trend ofDigital Workplace Fuels Asia Pacific Social Employee Recognition System Market Growth
Businesses are increasingly adopting digital solutions to transform their business models and existing processes to enhance operational efficiency and increase revenue by implementing effective digital solutions and automated systems. In the past few years, the proliferation of smart and connected devices, the adoption of cloud computing, and the emergence of technologies such as artificial intelligence (AI) and the Internet of things (IoT) led to smart and intelligent workplaces. Due to the increasing penetration of web applications, mobile applications, software-as-a-service (SaaS)-based solutions in enterprises, and advanced employee recognition solutions are rising at an impressive pace. Since the modern workforce demands motivation in a modern way, social recognition platforms help reinforce professional relationships in SMEs and large enterprises. With solutions such as social employee recognition platforms, industry verticals such as IT & telecom, manufacturing, retail, and healthcare can strengthen the employee-employer bond. Also, the platform helps in optimizing reward costs as per the available budget. According to the NTT 2021 Global Workplace Report, 55.1% of businesses are extremely satisfied with their company's ability to accommodate hybrid working. Thus, driving Asia Pacific social employee recognition system market growth.
Component-Based Asia Pacific Social Employee Recognition System Market Insights
The Asia Pacific social employee recognition system market, by component, is bifurcated into solution and services. In 2021, the solution segment accounted for a larger market share.
Deployment Model-Based Asia Pacific Social Employee Recognition System Market Insights
The Asia Pacific social employee recognition system market, based on deployment model, is bifurcated into cloud and on-premise. In 2021, the on-premise segment accounted for the largest market share.
Reward Type-Based Asia Pacific Social Employee Recognition System Market Insights
By reward type, the Asia Pacific social employee recognition system market is segmented into gift cards, prepaid cards, incentive travel, and others. In 2021, the gift card type segment accounted for the largest market share.
Industry-Based Asia Pacific Social Employee Recognition System Market Insights
By industry, the Asia Pacific social employee recognition system market is segmented into retail, IT and telecom, healthcare, media and entertainment, travel and hospitality, manufacturing, BFSI, and others. In 2021, the retail segment accounted for the largest market share.
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Asia Pacific Social Employee Recognition System Market: Strategic Insights
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Asia Pacific Social Employee Recognition System Market: Strategic Insights
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The players operating in the Asia Pacific social employee recognition system market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key market players are listed below:
- In August 2021, Kudos was one of the 15 Canadian firms to get selected for federal funding to scale up and enhance productivity in Western Canada. The funding is expected to support the company’s growth and market expansion strategies.
- In August 2020, Fond added to its extensive worldwide portfolio with the recent addition of specific benefits for consumers in Australia. Fond provides employee recognition software to companies worldwide, including Salesforce, WW International, and Hard Rock Cafe, which the firm can serve in part because of its worldwide reach.
Asia Pacific Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
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Asia Pacific Social Employee Recognition System Market Segmentation
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Asia Pacific Social Employee Recognition System Market - By Component
- Solution
- Services
Asia Pacific Social Employee Recognition System Market - By Deployment Model
- Cloud
- On-premise
Asia Pacific Social Employee Recognition System Market-By Reward Type
- Gift Cards
- Prepaid Cards
- Incentive Travel
- Others
Asia Pacific Social Employee Recognition System Market – By Industry
- Retail
- IT and Telecom
- Healthcare
- Media and Entertainment
- Travel and Hospitality
- Manufacturing
- BFSI
- Others
Asia Pacific Social Employee Recognition System Market – By Country
- Australia
- Japan
- India
- South Korea
- Indonesia
- Singapore
- Malaysia
- Vietnam
- Thailand
- Philippines
- Rest of Asia Pacific
Asia Pacific Social Employee Recognition System Market – Company Profiles
- ACHIEVERS
- APPREIZ INC.
- FOND TECHNOLOGIES
- MOTIVOSITY INC
- GRG INDIA
- KUDOS INC.
- POSSIBLEWORKS
- TERRYBERRY
- WORKSTRIDE
- WORKSTARS
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. Introduction
1.1 Scope of the Study
1.2 Study Scope
1.3 The Insight Partners Research Report Guidance
1.4 Market Segmentation
1.4.1 APAC Social Employee Recognition System Market – By Component
1.4.2 APAC Social Employee Recognition System Market – By Deployment Model
1.4.3 APAC Social Employee Recognition System Market – By Reward Type
1.4.4 APAC Social Employee Recognition System Market – By Industry
1.4.5 APAC Social Employee Recognition System Market – By Enterprise Size
1.4.6 APAC Social Employee Recognition System Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC social employee recognition system Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 APAC
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Social Employee Recognition System Market– Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Trend of Digital Workplace
5.1.2 Higher Productivity due to Employee Recognition Platforms
5.2 Market Restraints
5.2.1 Lack of Adoption in SMEs
5.3 Market Opportunities
5.3.1 Rapid Adoption of Cloud-Based Solutions
5.4 Future Trends
5.4.1 Integration of Advanced Technologies in Software
5.5 Impact Analysis of Drivers and Restraints
6. Social Employee Recognition System Market– APAC Analysis
6.1 Overview
6.2 Social Employee Recognition System Market– APAC Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning – Five Key Players
7. APAC social employee recognition system Market Analysis – By Component
7.1 Overview
7.2 Social Employee Recognition Systems Market , By Component (2021 and 2028)
7.3 Solution
7.3.1 Overview
7.3.2 Solution: social employee recognition system market Revenue and Forecast To 2028 (US$ Million)
7.4 Services
7.4.1 Overview
7.4.2 Services: social employee recognition system market Revenue and Forecast To 2028 (US$ Million)
8. APAC social employee recognition system Market Analysis – By Deployment Model
8.1 Overview
8.2 Social Employee Recognition System Market, By Deployment Model (2021 and 2028)
8.3 Cloud
8.3.1 Overview
8.3.2 Cloud: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
8.4 On-premise
8.4.1 Overview
8.4.2 On-premise: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
9. APAC social employee recognition system Market Analysis – By Reward Type
9.1 Overview
9.2 Social Employee Recognition System Market, By Reward Type (2021 and 2028)
9.3 Gift Cards
9.3.1 Overview
9.3.2 Gift Cards: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
9.4 Prepaid Cards
9.4.1 Overview
9.4.2 Prepaid Cards: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
9.5 Incentive Travel
9.5.1 Overview
9.5.2 Incentive Travel: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
10. APAC social employee recognition system Market Analysis – By Industry
10.1 Overview
10.2 Social Employee Recognition System Market, By Industry (2021 and 2028)
10.3 Retail
10.3.1 Overview
10.3.2 Retail: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
10.4 IT & Telecom
10.4.1 Overview
10.4.2 IT & Telecom: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
10.5 Healthcare
10.5.1 Overview
10.5.2 Healthcare: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
10.6 Media & Entertainment
10.6.1 Overview
10.6.2 Media & Entertainment: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
10.7 Travel & Hospitality
10.7.1 Overview
10.7.2 Travel & Hospitality: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
10.8 Manufacturing
10.8.1 Overview
10.8.2 Manufacturing: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
10.9 BFSI
10.9.1 Overview
10.9.2 BFSI: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
10.10 Others
10.10.1 Overview
10.10.2 Others: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
11. APAC social employee recognition system Market Analysis – By Enterprise Size
11.1 Overview
11.2 Social Employee Recognition System Market, By Enterprise Size (2021 and 2028)
11.3 Small and Medium Enterprises
11.3.1 Overview
11.3.2 Small and Medium Enterprises: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
11.4 Large Enterprises
11.4.1 Overview
11.4.2 Large Enterprises: Social Employee Recognition System Market Revenue and Forecast To 2028 (US$ Million)
12. Social Employee Recognition System – Country Analysis
12.1 Overview
12.2 APAC: Social Employee Recognition System
12.2.1.1 Australia: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
12.2.1.1.1 Australia: Social Employee Recognition System, By Component
12.2.1.1.2 Australia: Social Employee Recognition System Market, By Deployment Model
12.2.1.1.3 Australia: Social Employee Recognition System Market, By Reward Type
12.2.1.1.4 Australia: Social Employee Recognition System Market, By Industry
12.2.1.1.5 Australia: Social Employee Recognition System Market, By Enterprise Size
12.2.1.2 India: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
12.2.1.2.1 India: Social Employee Recognition System, By Component
12.2.1.2.2 India: Social Employee Recognition System Market, By Deployment Model
12.2.1.2.3 India: Social Employee Recognition System Market, By Reward Type
12.2.1.2.4 India: Social Employee Recognition System Market, By Industry
12.2.1.2.5 India: Social Employee Recognition System Market, By Enterprise Size
12.2.1.3 Japan: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
12.2.1.3.1 Japan: Social Employee Recognition System, By Component
12.2.1.3.2 Japan: Social Employee Recognition System Market, By Deployment Model
12.2.1.3.3 Japan: Social Employee Recognition System Market, By Reward Type
12.2.1.3.4 Japan: Social Employee Recognition System Market, By Industry
12.2.1.3.5 Japan: Social Employee Recognition System Market, By Enterprise Size
12.2.1.4 South Korea: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
12.2.1.4.1 South Korea: Social Employee Recognition System, By Component
12.2.1.4.2 South Korea: Social Employee Recognition System Market, By Deployment Model
12.2.1.4.3 South Korea: Social Employee Recognition System Market, By Reward Type
12.2.1.4.4 South Korea: Social Employee Recognition System Market, By Industry
12.2.1.4.5 South Korea: Social Employee Recognition System Market, By Enterprise Size
12.2.1.5 Indonesia: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
12.2.1.5.1 Indonesia: Social Employee Recognition System, By Component
12.2.1.5.2 Indonesia: Social Employee Recognition System Market, By Deployment Model
12.2.1.5.3 Indonesia: Social Employee Recognition System Market, By Reward Type
12.2.1.5.4 Indonesia: Social Employee Recognition System Market, By Industry
12.2.1.5.5 Indonesia: Social Employee Recognition System Market, By Enterprise Size
12.2.1.6 Singapore: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
12.2.1.6.1 Singapore: Social Employee Recognition System, By Component
12.2.1.6.2 Singapore: Social Employee Recognition System Market, By Deployment Model
12.2.1.6.3 Singapore: Social Employee Recognition System Market, By Reward Type
12.2.1.6.4 Singapore: Social Employee Recognition System Market, By Industry
12.2.1.6.5 Singapore: Social Employee Recognition System Market, By Enterprise Size
12.2.1.7 Malaysia: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
12.2.1.7.1 Malaysia: Social Employee Recognition System, By Component
12.2.1.7.2 Malaysia: Social Employee Recognition System Market, By Deployment Model
12.2.1.7.3 Malaysia: Social Employee Recognition System Market, By Reward Type
12.2.1.7.4 Malaysia: Social Employee Recognition System Market, By Industry
12.2.1.7.5 Malaysia: Social Employee Recognition System Market, By Enterprise Size
12.2.1.8 Vietnam: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
12.2.1.8.1 Vietnam: Social Employee Recognition System, By Component
12.2.1.8.2 Vietnam: Social Employee Recognition System Market, By Deployment Model
12.2.1.8.3 Vietnam: Social Employee Recognition System Market, By Reward Type
12.2.1.8.4 Vietnam: Social Employee Recognition System Market, By Industry
12.2.1.8.5 Vietnam: Social Employee Recognition System Market, By Enterprise Size
12.2.1.9 Thailand: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
12.2.1.9.1 Thailand: Social Employee Recognition System, By Component
12.2.1.9.2 Malaysia: Social Employee Recognition System Market, By Deployment Model
12.2.1.9.3 Thailand: Social Employee Recognition System Market, By Reward Type
12.2.1.9.4 Thailand: Social Employee Recognition System Market, By Industry
12.2.1.9.5 Thailand: Social Employee Recognition System Market, By Enterprise Size
12.2.1.10 Philippines: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
12.2.1.10.1 Philippines: Social Employee Recognition System, By Component
12.2.1.10.2 Philippines: Social Employee Recognition System Market, By Deployment Model
12.2.1.10.3 Philippines: Social Employee Recognition System Market, By Reward Type
12.2.1.10.4 Philippines: Social Employee Recognition System Market, By Industry
12.2.1.10.5 Philippines: Social Employee Recognition System Market, By Enterprise Size
12.2.1.11 Rest of APAC: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
12.2.1.11.1 Rest of APAC: Social Employee Recognition System, By Component
12.2.1.11.2 Rest of APAC: Social Employee Recognition System Market, By Deployment Model
12.2.1.11.3 Rest of APAC: Social Employee Recognition System Market, By Reward Type
12.2.1.11.4 Rest of APAC: Social Employee Recognition System Market, By Industry
12.2.1.11.5 Rest of APAC: Social Employee Recognition System Market, By Enterprise Size
13. Social employee recognition system- COVID-19 Impact Analysis
13.1 Overview
13.1.1 Asia Pacific: Impact Assessment of COVID-19 Pandemic
14. Industry Landscape
14.1 Overview
14.2 Market Initiative
14.3 Merger and Acquisition
14.4 New Development
15. Company Profiles
15.1 Achievers Solutions Inc.
15.1.1 Key Facts
15.1.2 Business Description
15.1.3 Products and Services
15.1.4 Financial Overview
15.1.5 SWOT Analysis
15.1.6 Key Developments
15.2 Appreiz Inc.
15.2.1 Key Facts
15.2.2 Business Description
15.2.3 Products and Services
15.2.4 Financial Overview
15.2.5 SWOT Analysis
15.2.6 Key Developments
15.3 Fond Technologies, inc.
15.3.1 Key Facts
15.3.2 Business Description
15.3.3 Products and Services
15.3.4 Financial Overview
15.3.5 SWOT Analysis
15.3.6 Key Developments
15.4 Motivosity Inc.
15.4.1 Key Facts
15.4.2 Business Description
15.4.3 Products and Services
15.4.4 Financial Overview
15.4.5 SWOT Analysis
15.4.6 Key Developments
15.5 GRG India
15.5.1 Key Facts
15.5.2 Business Description
15.5.3 Products and Services
15.5.4 Financial Overview
15.5.5 SWOT Analysis
15.5.6 Key Developments
15.6 Kudos Inc.
15.6.1 Key Facts
15.6.2 Business Description
15.6.3 Products and Services
15.6.4 Financial Overview
15.6.5 SWOT Analysis
15.6.6 Key Developments
15.7 PossibleWorks
15.7.1 Key Facts
15.7.2 Business Description
15.7.3 Products and Services
15.7.4 Financial Overview
15.7.5 SWOT Analysis
15.7.6 Key Developments
15.8 Terryberry
15.8.1 Key Facts
15.8.2 Business Description
15.8.3 Products and Services
15.8.4 Financial Overview
15.8.5 SWOT Analysis
15.8.6 Key Developments
15.9 WorkStride
15.9.1 Key Facts
15.9.2 Business Description
15.9.3 Products and Services
15.9.4 Financial Overview
15.9.5 SWOT Analysis
15.9.6 Key Developments
15.10 Workstars
15.10.1 Key Facts
15.10.2 Business Description
15.10.3 Products and Services
15.10.4 Financial Overview
15.10.5 SWOT Analysis
15.10.6 Key Developments
16. Appendix
16.1 About The Insight Partners
LIST OF TABLES
Table 1. Social Employee Recognition System Market– Revenue and Forecast to 2028 (US$ Million)
Table 2. Australia: Social Employee Recognition System, By Component – Revenue and Forecast to 2028 (US$ Million)
Table 3. Australia: Social Employee Recognition System Market, By Deployment Model – Revenue and Forecast to 2028 (US$ Million)
Table 4. Australia: Social Employee Recognition System Market, By Reward Type–Revenue and Forecast to 2028 (US$ Million)
Table 5. Australia: Social Employee Recognition System Market, By Industry–Revenue and Forecast to 2028 (US$ Million)
Table 6. Australia: Social Employee Recognition System Market, By Enterprise Size–Revenue and Forecast to 2028 (US$ Million)
Table 7. India: Social Employee Recognition System, By Component – Revenue and Forecast to 2028 (US$ Million)
Table 8. India: Social Employee Recognition System Market, By Deployment Model – Revenue and Forecast to 2028 (US$ Million)
Table 9. India: Social Employee Recognition System Market, By Reward Type–Revenue and Forecast to 2028 (US$ Million)
Table 10. India: Social Employee Recognition System Market, By Industry–Revenue and Forecast to 2028 (US$ Million)
Table 11. India: Social Employee Recognition System Market, By Enterprise Size–Revenue and Forecast to 2028 (US$ Million)
Table 12. Japan: Social Employee Recognition System, By Component – Revenue and Forecast to 2028 (US$ Million)
Table 13. Japan: Social Employee Recognition System Market, By Deployment Model – Revenue and Forecast to 2028 (US$ Million)
Table 14. Japan: Social Employee Recognition System Market, By Reward Type–Revenue and Forecast to 2028 (US$ Million)
Table 15. Japan: Social Employee Recognition System Market, By Industry–Revenue and Forecast to 2028 (US$ Million)
Table 16. Japan: Social Employee Recognition System Market, By Enterprise Size–Revenue and Forecast to 2028 (US$ Million)
Table 17. South Korea: Social Employee Recognition System, By Component – Revenue and Forecast to 2028 (US$ Million)
Table 18. South Korea: Social Employee Recognition System Market, By Deployment Model – Revenue and Forecast to 2028 (US$ Million)
Table 19. Japan: Social Employee Recognition System Market, By Reward Type–Revenue and Forecast to 2028 (US$ Million)
Table 20. South Korea: Social Employee Recognition System Market, By Industry–Revenue and Forecast to 2028 (US$ Million)
Table 21. South Korea: Social Employee Recognition System Market, By Enterprise Size–Revenue and Forecast to 2028 (US$ Million)
Table 22. Indonesia: Social Employee Recognition System, By Component – Revenue and Forecast to 2028 (US$ Million)
Table 23. Indonesia: Social Employee Recognition System Market, By Deployment Model – Revenue and Forecast to 2028 (US$ Million)
Table 24. Indonesia: Social Employee Recognition System Market, By Reward Type–Revenue and Forecast to 2028 (US$ Million)
Table 25. Indonesia: Social Employee Recognition System Market, By Industry–Revenue and Forecast to 2028 (US$ Million)
Table 26. Indonesia: Social Employee Recognition System Market, By Enterprise Size –Revenue and Forecast to 2028 (US$ Million)
Table 27. Singapore: Social Employee Recognition System, By Component – Revenue and Forecast to 2028 (US$ Million)
Table 28. Singapore: Social Employee Recognition System Market, By Deployment Model – Revenue and Forecast to 2028 (US$ Million)
Table 29. Singapore: Social Employee Recognition System Market, By Reward Type–Revenue and Forecast to 2028 (US$ Million)
Table 30. Singapore: Social Employee Recognition System Market, By Industry–Revenue and Forecast to 2028 (US$ Million)
Table 31. Singapore: Social Employee Recognition System Market, By Enterprise Size–Revenue and Forecast to 2028 (US$ Million)
Table 32. Malaysia: Social Employee Recognition System, By Component – Revenue and Forecast to 2028 (US$ Million)
Table 33. Malaysia: Social Employee Recognition System Market, By Deployment Model – Revenue and Forecast to 2028 (US$ Million)
Table 34. Malaysia: Social Employee Recognition System Market, By Reward Type–Revenue and Forecast to 2028 (US$ Million)
Table 35. Malaysia: Social Employee Recognition System Market, By Industry–Revenue and Forecast to 2028 (US$ Million)
Table 36. Malaysia: Social Employee Recognition System Market, By Enterprise Size–Revenue and Forecast to 2028 (US$ Million)
Table 37. Malaysia: Social Employee Recognition System, By Component – Revenue and Forecast to 2028 (US$ Million)
Table 38. Malaysia: Social Employee Recognition System Market, By Deployment Model – Revenue and Forecast to 2028 (US$ Million)
Table 39. Malaysia: Social Employee Recognition System Market, By Reward Type–Revenue and Forecast to 2028 (US$ Million)
Table 40. Malaysia: Social Employee Recognition System Market, By Industry–Revenue and Forecast to 2028 (US$ Million)
Table 41. Malaysia: Social Employee Recognition System Market, By Enterprise Size–Revenue and Forecast to 2028 (US$ Million)
Table 42. Malaysia: Social Employee Recognition System, By Component – Revenue and Forecast to 2028 (US$ Million)
Table 43. Malaysia: Social Employee Recognition System Market, By Deployment Model – Revenue and Forecast to 2028 (US$ Million)
Table 44. Malaysia: Social Employee Recognition System Market, By Reward Type–Revenue and Forecast to 2028 (US$ Million)
Table 45. Malaysia: Social Employee Recognition System Market, By Industry–Revenue and Forecast to 2028 (US$ Million)
Table 46. Malaysia: Social Employee Recognition System Market, By Enterprise Size–Revenue and Forecast to 2028 (US$ Million)
Table 47. Malaysia: Social Employee Recognition System, By Component – Revenue and Forecast to 2028 (US$ Million)
Table 48. Malaysia: Social Employee Recognition System Market, By Deployment Model – Revenue and Forecast to 2028 (US$ Million)
Table 49. Malaysia: Social Employee Recognition System Market, By Reward Type–Revenue and Forecast to 2028 (US$ Million)
Table 50. Malaysia: Social Employee Recognition System Market, By Industry–Revenue and Forecast to 2028 (US$ Million)
Table 51. Malaysia: Social Employee Recognition System Market, By Enterprise Size–Revenue and Forecast to 2028 (US$ Million)
Table 52. Malaysia: Social Employee Recognition System, By Component – Revenue and Forecast to 2028 (US$ Million)
Table 53. Malaysia: Social Employee Recognition System Market, By Deployment Model – Revenue and Forecast to 2028 (US$ Million)
Table 54. Malaysia: Social Employee Recognition System Market, By Reward Type–Revenue and Forecast to 2028 (US$ Million)
Table 55. Malaysia: Social Employee Recognition System Market, By Industry–Revenue and Forecast to 2028 (US$ Million)
Table 56. Malaysia: Social Employee Recognition System Market, By Enterprise Size–Revenue and Forecast to 2028 (US$ Million)
Table 57. List of Abbreviation
LIST OF FIGURES
Figure 1. Social Employee Recognition System Market Segmentation
Figure 2. APAC Social Employee Recognition System Market Overview
Figure 3. Solution held the largest market share in 2021
Figure 4. On Premise held the largest market share in 2021
Figure 5. Gift cards held Largest Market Share in 2021
Figure 6. Retail held Largest Market Share in 2021
Figure 7. Retail held Largest Market Share in 2021
Figure 8. Large Enterprises held Largest Market Share in 2021
Figure 9. APAC – PEST Analysis
Figure 10. Expert Opinion
Figure 11. APAC social employee recognition system Market: Impact Analysis of Drivers and Restraints
Figure 12. Social Employee Recognition System Market– Revenue and Forecast to 2028 (US$ Million)
Figure 13. Social Employee Recognition Systems Market , By Component (2021 and 2028)
Figure 14. Solution: social employee recognition system market Revenue and Forecast to 2028 (US$ Million)
Figure 15. Services: social employee recognition system market Revenue and Forecast to 2028 (US$ Million)
Figure 16. Social Employee Recognition System Market, By Deployment Model (2021 and 2028)
Figure 17. Cloud: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. On-premise: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. Social Employee Recognition System Market, by Reward Type (2021 and 2028)
Figure 20. Gift Cards: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. Prepaid Cards: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. Incentive Travel: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 23. Others: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 24. Social Employee Recognition System Market, By Industry (2021 and 2028)
Figure 25. Retail: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 26. IT & Telecom: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 27. Healthcare: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 28. Media & Entertainment: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 29. Travel & Hospitality: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 30. Manufacturing: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 31. BFSI: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 32. Others: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 33. Social Employee Recognition System Market, By Enterprise Size (2021 and 2028)
Figure 34. Small and Medium Enterprises: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 35. Large Enterprises: Social Employee Recognition System Market Revenue and Forecast to 2028 (US$ Million)
Figure 36. APAC social employee recognition system Revenue Share, by Country (2021 and 2028)
Figure 37. Australia: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
Figure 38. India: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
Figure 39. Japan: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
Figure 40. South Korea: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
Figure 41. Indonesia: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
Figure 42. Singapore: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
Figure 43. Malaysia: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
Figure 44. Malaysia: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
Figure 45. Thailand: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
Figure 46. Philippines: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
Figure 47. Rest of APAC: Social Employee Recognition System – Revenue and Forecast to 2028 (US$ Million)
Figure 48. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
- ACHIEVERS
- APPREIZ INC.
- FOND TECHNOLOGIES
- MOTIVOSITY INC
- GRG INDIA
- KUDOS INC.
- POSSIBLEWORKS
- TERRYBERRY
- WORKSTRIDE
- WORKSTARS
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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