- The global Workforce Management market size is projected to reach USD 9.2 Billion by 2026, from USD 5.2 Billion in 2019, at a CAGR of 8.4% during 2021-2026.
BANGALORE, India, Aug. 11, 2020 /PRNewswire/ -- The global Workforce Management market is driven primarily by the rising demand for cloud-based solutions. With the growing cloud-based solutions, storing data over the web and easily accessing the data has become easier. Furthermore, remote workforce approaches have been made simpler with the introduction of this program.
The report focuses on the prospects for growth, constraints, and market analysis. The study offers Porter's five forces analysis of the workforce management industry to understand the effect of different factors such as supplier bargaining power, competitor competition, new entrant danger, substitution danger, and buyer bargaining power in the marketplace.
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TRENDS INFLUENCING THE WORKFORCE MANAGEMENT MARKET SIZE
It is anticipated that the increasing need for connected and cohesive enterprise, as well as an integrated workforce management network spread across various locations, would fuel the growth of Workforce Management Market size during the forecast period.
Workforce optimization is possible in different ways, some of them being time and attendance tracking, performance monitoring, demand prediction, employee scheduling. Growing penetration of smartphones helps perform these functions with ease. Also, the rising demand for automation is improving Workforce Management Market size.
Growing workforce management adoption in small and medium-sized companies is likely to fuel the workforce management market size. Due to SMEs' implementation, demand for affordable, subscription-based workforce force management services is expected to increase. Several SMEs are working in the Asia-Pacific region.
Lack of knowledge about Workforce Management is one of the most significant factors that restrain the growth of Workforce Management Market size.
WORKFORCE MANAGEMENT MARKET SHARE ANALYSIS
Based on the Application, the solutions segment is expected to hold the largest market share during the forecast period. Workforce management solutions are evolving rapidly as the conventional approaches are turned into IT and technical solutions. The labor market offers numerous approaches to simplify employees' jobs in companies and allow them the flexibility to concentrate on more important business aspects.
Based on type, the Workforce embedded analytics is expected to hold a significant Workforce Management Market share. Embedded analytics provides new avenues for potential innovations in upcoming product suites. As vendors seek to distinguish their products from relatively similar portfolios, analytics may provide the cutting edge for companies seeking to tackle North America and Europe's technologically mature markets.
Based on the region, North America is expected to hold the largest Workforce Management Market share. It is predicted the US and Canada will be the main contributors to the North American market. Companies in the North American region are more advanced in terms of adoption of Artificial Intelligence ( AI), Machine Learning ( ML), and cloud, thus boosting business growth.
The Asia Pacific region is expected to witness the highest growth due to the growing need for intelligent workforce management solutions during the forecast period.
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The key players covered in this study
- Kronos Incorporated
- SAP SE
- Oracle Corporation
- Workforce Software Group Inc.
- Nice Systems
- Active Ops Limited
- Nice Systems Inc.
Market segment by Type, the product can be split into
- Workforce Scheduling
- Time & Attendance Management
- Embedded Analytics
- Absence Management
Market segment by Application, split into
- Large Enterprises
- Small and Medium Enterprises (SMEs).
Market segment by Regions/Countries, this report covers
- North America
- Southeast Asia
- Central & South America.
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SIMILAR REPORTS :
- Workforce Management Software Market Report
Workforce Management Software helps managers anticipate staffing demands reliably and efficiently across all customer-facing incoming, outbound, mixed, and back-office personnel. It also helps agents to control their schedules with needed tools such as schedule trades and sequential deals for shifts.
The rapid rise of mobile devices and apps has led to increased workforce management market size. The mobile workforce leverages mobile phone advantages, which are easily accessible anytime and anywhere; thus, demand for mobile workforce management is very high and is projected to surpass demand for web-based WFM during the forecast period.
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The Biometrics in Workforce Management Market report considers revenues generated from the sales of biometric solutions, including hardware, software, integrated solutions, and services used by enterprises and government organizations to authenticate and monitor employees.
- Contingent Workforce Management Market Report
Contingent Workforce Management is the practice of directing and controlling a firm's contingent workforce, including anyone who does work for an organization on a non-permanent basis.
The Global Contingent Workforce Management Market Report offers insight into the international markets as well as trends in growth, competitive landscape analysis, and the development status of key regions.
- Hospital Workforce Management Software Market Report
The Hospital Workforce Management Software Market report covers market size and forecasts of Hospital Workforce Management Software, including the following market information: COVID-19 Impact on Global Mobile Workforce Management Market.
Top companies in the Hospital Workforce Management Software Market include McKesson Medical-Surgical Inc., Kronos Incorporated, Infor, ADP, LLC, ATOSS Software AG, IBM, Cornerstone Ondemand, Inc., Ultimate Software, GE Healthcare, Oracle, WorkForce Software, LLC, etc.
- Mobile Workforce Management Market Report
The Global Mobile Workforce Management Market report offers an exhaustive geographical analysis of the global Mobile Workforce Management market, covering important regions, viz, North America, and Europe.
- Absence Management Software Market Report
- Back Office Workforce Management Market Report
View Full Report:
- Workforce Analytics Market Report
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In 2019, the global Workforce Analytics market size was US$ 1010.2 million
- Embedded Analytics Market Report
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