Workforce Management Software Market to Record USD 2.13 Bn Growth | Automatic Data Processing Inc., Blue Yonder Group Inc., and Ceridian HCM Holding Inc. emerge as dominant players | Technavio
NEW YORK, Jan. 4, 2022 /PRNewswire/ -- Workforce Management Software Market Facts at a Glance-
- Total Pages: 120
- Companies: 10+ – Including Automatic Data Processing Inc., Blue Yonder Group Inc., Ceridian HCM Holding Inc., International Business Machines Corp., Koch Industries Inc., Kronos Inc., Oracle Corp., Sage Group Plc, SAP SE, and Workday Inc.
- Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape; COVID impact & recovery analysis
- Segments: Deployment (cloud-based and on-premise)
- Geographies: North America, Europe, APAC, South America, and MEA
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According to the recent market study by Technavio, the Workforce Management Software Market Size is expected to increase by USD 2.13 billion from 2020 to 2025, with an accelerated CAGR of 11.29%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
North America will register the highest growth rate, occupying 34% of the global market share. The US is the key market for workforce management software in North America. However, the market growth in this region will be slower than the growth of the market in other regions.
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Vendor Insights-
The workforce management software market is fragmented and is highly competitive. Vendors are focusing on forming strategic alliances, joint ventures, or acquiring small vendors to expand their operations and remain competitive in the market.
Automatic Data Processing Inc.: The company offers workforce management solutions by offering ADP enterprise eTIME software that optimizes workforce performance.
Blue Yonder Group Inc.: The company offers BlueYonder potential software under workforce management solutions for workforce management.
Ceridian HCM Holding Inc.: The company offers HCM software under workforce management solutions that improve operational efficiency, decrease labor costs and reduce compliance issues.
International Business Machines Corp.: The company offers talent management software under service and consulting to inspire the customer workforce with innovative technologies and a people-centric approach to talent management.
Koch Industries Inc.: The company offers Infor WFM software under workforce management solutions that optimize labor cost and compliance.
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Regional Market Outlook
The workforce management software market growth in North America will be significant during the forecast period. The improved penetration of social media and high demand for cost-efficient HR solutions are driving the growth of the workforce management market in North America. In addition, the increasing adoption of cloud-based workforce management solutions is expected to foster regional market growth during the forecast period.
Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.
Latest Drivers & Trends Driving the Market-
- Workforce Management Software Market Driver:
- Regulatory compliance.
The introduction of various regulations regarding workforce management is forcing organizations to implement and document activities to ensure optimum performance in business operations. Hence, businesses are increasingly adopting workforce management software to streamline HR functions by identifying ideal candidates for the job in a short time. Workforce management software also reduces manual work in the process by reducing paperwork, thereby enhancing overall productivity and complying with various regulations.
- Workforce Management Software Market Challenge:
- Improving employee experience by digitalizing HR process:
Organizations are focusing on enhancing the employee experience by integrating analytics, social media, mobile platforms, and cloud technologies with workforce management software. This provides additional HRM features such as time and attendance management, appointment and meeting reminders, on-demand video learning, messaging, and stress monitors, thereby enhancing the employee experience. This trend is expected to have a positive impact on the growth of the market during the forecast period.
Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.
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Workforce Management Software Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Accelerate at a CAGR of 11.29% |
Market growth 2021-2025 | USD 2.13 billion |
Market structure | Fragmented |
YoY growth (%) | 10.24 |
Regional analysis | North America, Europe, APAC, South America, and MEA |
Performing market contribution | North America at 34% |
Key consumer countries | US, Germany, India, UK, and Japan |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | Automatic Data Processing Inc., Blue Yonder Group Inc., Ceridian HCM Holding Inc., International Business Machines Corp., Koch Industries Inc., Kronos Inc., Oracle Corp., Sage Group Plc, SAP SE, and Workday Inc. |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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