According to a recent study by Future Market Insights, the employee advocacy software market is expected to reach US$ 930.7 Million by 2032, up from US$ 410 million in 2022, expanding at a high CAGR of 8.5%.
Demand for quick and simple communication of new information, without sending loads of emails, and increased employee engagement relative to sharing the company’s original and curated content by allowing them to share easily are expected to accelerate the growth of the employee advocacy software market over the analysis period.
Employee advocacy software enables companies to engage their workforce to share branded content and information via social channels. With these tools, brands are able to build pre-approved content libraries for their employees to access to share via mobile, email, or social media. These tools not only help broaden a company’s social presence by engaging their employees, but they also allow social media managers to have more control over company voice and messaging on social channels.
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There has been a massive adoption of advanced employee advocacy software tools among the organizations, which provides helpful as well as knowledgeable customer support. Companies’ employees are using these tools to share relevant stories and content to share with their followers.
The advocacy software provides simple and intuitive interface, which is easy to use for users and admins. The advocacy tools streamline and simplify managing the social sharing of employee advocates and allow for posts to be set up in advance with the help of features including scheduling functionality.
Key Takeaways from the Market Study
- Global employee advocacy software market was valued at US$ 410 Million by 2022-end
- The U.S to account for the highest value share of US$ 322.5 Million of global market demand for employee advocacy software market in 2032
- From 2017 to 2021, employee advocacy software demand expanded at a CAGR of 9.4%
- By type, the cloud-based category constitutes the bulk of employee advocacy software market with a CAGR of 8.3%.
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Competitive Landscape
Players in the global employee advocacy software market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:
- In February 2022, COYO (Social Intranet Software), Smarp (Employee Communications & Advocacy) and Jubiwee (Employee Engagement & Analytics) announced the expansion of their three brands in Western labor markets with the renaming as Haiilo. The merger will allow for the most complete and consistent approach to attracting and engaging knowledge workers which is one of the most dramatic growth inhibitors companies face since the pandemic started.
- In January 2022, EveryoneSocial launched free forever plan to spread employee advocacy, through which the marketers can activate their company’s employees as influencers who can authentically share their most important content.
Know More About What the Employee Advocacy Software Market Repost Covers
Future Market Insights offers an unbiased analysis of the global employee advocacy software market, providing historical data for 2015-2021 and forecast statistics from 2022-2032. To understand opportunities in the Employee Advocacy Software Market, the market is segmented on the basis of type and application across five major regions.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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