valley cottage, NY -- (SBWIRE) -- 05/15/2018 -- According to a recent market report published by Future Market Insights titled, "Social Employee Recognition Systems Market-Global Industry Analysis (2013–2017) and Opportunity Assessment (2018–2028)" the Social Employee Recognition Systems Market was valued at US$ 5827.1 Mn in 2017, and is expected to register a CAGR of 15.7% from 2018 to 2028. Increased usage of social media & entertainment platform among enterprises, increased involvement of upper management, creation of internal marketing team and multiple benefits are major factors driving growth of the Social Employee Recognition Systems Market.

Social employee recognition systems is the combination of software solutions, which help organizations to provide their employees tools and techniques related to social networking tools that allow them to acknowledge each other efforts and celebrate success. Social employee recognition platforms are the software system that allow users to recognize efforts of another person/co-worker and appraise them with the help of social networking websites. This helps managers to appreciate employee contribution, foster knowledge sharing and social learning, reinforce behaviors, showcase achievements of team, identify subject matter experts and extend corporate knowledge.

Social Employee Recognition Systems Market is categorized on the basis of deployment, enterprise type, industry type and region. On the basis of deployment, the market is segmented as cloud and on-premise. The cloud segment is expected to register a CAGR of 17.7% during the forecast period.

On the basis of enterprise type, the Social Employee Recognition Systems Market is segmented into small & medium enterprises (SME) and large enterprises. The revenue contribution from the large enterprise segment is expected to expand at a CAGR of 16.8% during the forecast period.

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On the basis of industry type, Social Employee Recognition Systems Market is segmented as retail and consumer goods, IT and Telecom, healthcare, media & entertainment, travel & hospitality, manufacturing and others. The revenue contribution from the retail and consumer goods segment is expected to expand at a CAGR of 17.9% during the forecast period.

Among the regions, Western Europe is projected to exhibit relatively high growth in the global market, registering a CAGR of 18.1% over the forecast period. Revenue from the Social Employee Recognition Systems Market in Western Europe and North America is expected to collectively account for over 43.2% of the Social Employee Recognition Systems Market revenue in 2018. Social Employee Recognition Systems providers can focus on expanding their footprints across several regions like SEA and other APAC, China and Japan.

This report also covers trends driving each segment and offers analysis and insights regarding the potential of Social Employee Recognition Systems Market in regions including North America, Latin America, Western Europe, Eastern Europe, South East Asia and other APAC, Japan, Middle East and Africa and China.

Some of the top companies identified across the Social Employee Recognition Systems value chain are Salesforce.com Inc., Globoforce Ltd., Reffind Ltd., Achievers solutions Inc., Kudos Inc., Madison performance group, Recognize services Inc., Aurea software Inc., BI Worldwide Ltd., Terryberry, YouEarnedIt and others.

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