Global Hospital Workforce Management Software Market Share and Growth Rate 2025: Followed by Workday, Inc., Ultimate Software Group, Inc., McKesson Corporation, Kronos Incorporated, Infor, IBM, General Electric, Cornerstone OnDemand, Others

According to Data Bridge Market Research new Market report, “Global Hospital Workforce Management Software Market By Product Type (Standalone Software {Time, Attendance, HR, Payroll, Scheduling Talent Management, Analytics, Others}, Integrated Software), By Service Type (Implementation Services, Support, Maintenance, Optimization Services, Training/Education Services), By Mode of Delivery (Web-Based, Cloud-Based, On-Premise), By End-User (Hospitals, Healthcare Institutions, Long Term Care), By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast is projected to reach USD 3336.75 billion by 2025, at a CAGR of 14.5% during the forecast period of 2018 to 2025.

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Global Hospital Workforce Management Software Market

To manage the administration issues, there is the need for establishment of healthcare workforce managements systems. The main function of hospital workforce management software is to manage and maintain the productive workforce in healthcare organizations. These software’s reduce the labor cost. Therefore, helps in the cost management.

Vanguard Systems and digital technology have recently brought new technology advancement in this sector. It makes employees and executives to perform their business directives from their laptops and desktops from their home or from any remote location. According to the DELLEMC, Over 82% of workers believe that customized technology would make them more productive. In January 2014 GE healthcare acquired Hartford, which develops analytics tools for healthcare workforce management.

Segmentation: Global Hospital Workforce Management Software Market

The global market for hospital workforce management software by the following sub-categories is presented

By Product Type

 Standalone Software

o Time
o Attendance
o HR
o Payroll
o Scheduling Talent Management
o Analytics
o Others

 Integrated Software

By Service Type

 Implementation Services
 Support
 Maintenance
 Optimization Services
 Training/Education Services

By Mode of Delivery

 Web-Based
 Cloud-Based
 On-Premise

By End-User

 Hospitals
 Healthcare Institutions
 Long Term Care

By Geography

 North America
 South America
 Europe
 Asia-Pacific
 Middle East and Africa

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FACTORS DRIVING GROWTH IN THE GLOBAL HOSPITAL WORKFORCE MANAGEMENT SOFTWARE MARKET

The growing pool of geriatric population, increasing expenditure on healthcare services:

According to the World Health Organization (WHO) report, the geriatric population across the globe will reach 2 billion by the end of 2050 from 900 million in 2015. Between 2015 and 2050, the proportion of population over 60 years will double from 12% to 22%. This rise would be predominantly seen in the developed countries of the U.K., the U.S., and Japan.

As the geriatric population is more exposed to various diseases, hence they approach more healthcare institution. Therefore, maintaining their records, re-visit, number of patients, patients trekking has become predominantly important. All this can be managed effectively by workforce management software.

With increase in geriatric population the demand for hospital workforce management is expected to achieve an inclining growth in future.

Increasing demand for hospital workforce management software:

The number of workforce in the Asia-Pacific countries, such as India and China, is expected to increase due to the rise in the number of companies with job creation.

In February 2018, Infor launched enterprise analytics for healthcare industry offering enhanced operations and insights, which is expected to expand their customer base.

In November 2017, Kronos Incorporated introduced an advanced version of workforce management software through artificial intelligence and machine learning. This is expected to bring profit to the company and alter the industry.

In February 2012, general electric company, through its healthcare IT business, and Microsoft Corp. entered into a joint venture aimed at helping healthcare organizations and professionals use real-time, system-wide intelligence to improve healthcare quality and the patient experience.

According to world urbanization prospects, United Nations, in 2013, North America was the market leader with a share of approximately 65% of the global market, followed by Europe with a share of 20%.

As in hospitals employee tracking, managing employee production, time and attendance, employee scheduling, employee absence management, labor tracking, task management, labor cost, over time, keeping patient monitoring and records is very essential as the health care sector is growing with a speed.

Therefore, with new inventions by various vendors as the demand for hospital workforce management is increasing, this market is expected to surge its growth in future.

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Some of the major market players in this market are ADP, LLC, ATOSS Software AG, Cornerstone Ondemand, Inc, General Electric Company, IBM, Infor, Kronos Incorporated, McKesson, Oracle, SAP, Ultimate Software, Workday, Inc, WorkForce Software, LLC, AT&T Intellectual Property, Huntington Business Systems, Inc, Huntington Business Systems, Inc, Reflexis Systems, Inc, Infor, JDA Software Group, Inc, Salesforce.com, inc. among others.

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