Workforce Management Market Report 2020: Trends, Top Companies, Investment, Growth, Innovation and Forecast 2025

According to IMARC Group’s latest report, titled “Workforce Management Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,”. Looking forward, IMARC Group expects the global workforce management market to exhibit moderate growth during 2020-2025.

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Workforce management (WFM) includes processes that enable an organization to track performance and optimize the productivity of their employees. It effectively forecasts labor requirements and manages staff schedules for accomplishing different tasks regularly. It also helps in improving labor planning, lowering operational costs and providing better customer services. As a result, workforce management software is utilized in the healthcare, and banking, financial services and insurance (BFSI) sectors, which are involved in high time-sensitive tasks.

Market Trends

Owing to the increasing focus on workforce optimization, organizations around the world are relying on WFM solutions to manage their time and avoid duplication of tasks. This, in confluence with the increasing adoption of cloud-based solutions, is driving the global WFM market growth. Furthermore, digitalization and the rising penetration of smartphones is also strengthening the market growth. Apart from this, the introduction of real-time solutions in WFM, along with the integration of software-as-a-service (SaaS) technology, are anticipated to propel the market growth in the upcoming years.

Breakup by Solution:
• Absence Management
• Performance Management
• Workforce Scheduling
• Time and Attendance Management
• Workforce Analytics
• Others

Breakup by Service:
• Implementation Services
• Support and Maintenance Services
• Training and Education Services

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Breakup by Deployment Type:
• Cloud-based
• On-premises

Breakup by Organization Size:
• Small and Medium-sized Enterprises (SMEs)
• Large Enterprises

Breakup by Vertical:
• Government and Defense
• Banking, Financial Services, and Insurance (BFSI)
• Healthcare
• Transportation and Logistics
• Telecom and IT
• Consumer Goods and Retail
• Manufacturing
• Energy and Utilities
• Others

Breakup by Region:
• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being ADP, Atoss Software AG, HotSchedules Inc., Huntington Business Systems, IBM, Kronos Inc., Oracle Corporation, Reflexis Systems, SAP SE, Ultimate Software Group Inc., Verint Systems, Workday Inc., WorkForce Software LLC, etc.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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