openPR Logo
Press release

Workforce Management Market size is projected to reach $9,391 million by 2027

03-15-2021 07:36 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Report Ocean

According to a recent report published by Report Ocean, titled, “Workforce Management Market by Component, Deployment Mode, Organization Size, and Industry Vertical: Opportunity Analysis and Industry Forecast, 2020–2027,” the workforce management market size was valued at $4,350 million in 2019, and is projected to reach $9,391 million by 2027, growing at a CAGR of 10.2% from 2020 to 2027.

GET SAMPLE PAGES @ https://www.reportocean.com/industry-verticals/sample-request?report_id=AMR1101

Workforce is the biggest asset of a business, where they play a critical role to perform day-to-day operations and offer biggest competitive advantage in the highly competitive market. Thus, many business leaders opt for workforce management solutions to help them optimize their workforce operations and schedule the task depending upon the task priority and skilled labor. This in turn is a factor that drives the workforce management market during the forecast period. Moreover, in this digital era, workforce mobile applications have gained high traction owing to their ability to track the employee location and gain task status instantaneously.

Workforce management offers wide range of solutions such as time and attendance management, task management, workforce scheduling, workforce analytics, budgeting and forecasting, and many others. Though the workforce management solution offers wide range of features, there are many advance/premium features that require extra cost. Thus, many companies opt for customized solutions package that includes features that are specific to their needs. This has created significant opportunity for workforce management market growth, owing to workforce customized solutions offerings.

Depending upon the deployment mode the workforce management market is divided into on-premises and cloud. The cloud segment dominated the market in 2019, whereas on-premises deployment were widely preferred among large enterprises owing to high availability of infrastructure. Adoption of cloud technology have proliferated the number of applications launched that offer high volume of data storage and access to data at anytime and anywhere. Hence, increase in adoption of cloud-based workforce management is widely witnessed as an on-going trend in the global workforce management market. Moreover, necessity to achieve competitive advantage many companies prefer for pay-as-you-go model, due to which cloud-based workforce management solutions dominates the market during the forecast period.

As enterprises are compelled to cope with growing consumer demand, the need for optimized and well-coordinated workforce has raised the adoption of workforce management among various organizations. Moreover, large enterprises have high number of workforce operating across the globe. High adoption of workforce management is thus witnessed among large enterprises as these organizations thrive to have cohesive and detailed understanding of their employees and task completed reports.

Healthcare and retail industries leverage the mobile-based workforce applications as it offers then cost benefit and ease in handling business. Moreover, retail and manufacturing industries thrive to optimize their supply chain processes, among which workforce plays a major role. Human resource management plays an important role in all industries, insights on employees’ accountability as well as performance evaluation can help industries to achieve high productivity. This in turn is a major factor expected to drive the growth of the global workforce management market in the forthcoming years.

To manage disruptions of productivity due to the COVID-19 outbreak is a major factor the drives the growth of the workforce management market in 2020. Many business leaders thrive in communicating information about contingency planning in a crisis, especially during a viral outbreak. This has created opportunities for adoption of workforce management solutions and services to help businesses to protect their employees and organizational productivity. Workforce management is playing a crucial role in strengthening remote working capabilities and is creating a strategy for communicating factually and effectively with employees, customers, partners and other stakeholders. Hence, workforce management market is expected to witness positive growth in the COVID-19 impact with minimalistic disruptions that could be due to lack of infrastructure.

Key Findings Of The Study

By component, the solution segment dominated the workforce management market size in 2019. However, the services segment is expected to exhibit significant growth during the forecast period in the workforce management industry.
As per deployment mode, in 2019, on-premise was the leading segment. However, the cloud segment is expected to display significant growth during the forecast period.
On the basis of organization size, large enterprises segment was dominant in 2019 in terms of workforce management market share. However, the small & medium enterprises segment is expected to depict significant growth in terms of CAGR.
According to industry vertical, the IT and telecom sector generated the highest revenue in 2019. However, the manufacturing sector is expected to witness a considerable workforce management market growth in the near future.
Region wise, Asia-Pacific is expected to witness significant CAGR in the coming years. Moreover, North America dominate the workforce management market share in 2019.
Some of the key market players profiled in the workforce management market analysis include ADP, LLC, Infor, IBM Corporation, Kronos Incorporated, Oracle Corporation, SAP SE, SumTotal Systems, LLC, Verint Systems Inc., Workday, Inc., and WorkForce Software, LLC. Major players operating in this market have witnessed significant adoption of strategies such as business expansion and partnership to reduce supply–demand gap. With increase in remote working and lockdown initiatives across the globe, major players have collaborated their product portfolio to provide differentiated and innovative cloud-based workforce management products.

READ FULL REPORT @ https://www.reportocean.com/industry-verticals/sample-request?report_id=AMR1101

Get in Touch with Us:
Report Ocean
Email: sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, IIIinois 60611 – UNITED STATES
Tel: +1 888 212 3539 (US – TOLL FREE)
Website: https://www.reportocean.com/

We are the best market research reports provider in the industry. Report Ocean believe in providing the quality reports to clients to meet the top line and bottom line goals which will boost your market share in today’s competitive environment. Report Ocean is “one-stop solution” for individuals, organizations, and industries that are looking for innovative market research reports.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Workforce Management Market size is projected to reach $9,391 million by 2027 here

News-ID: 2256148 • Views:

More Releases from Report Ocean

Japan Internet Advertising Market CAGR of 24.9%, Behind the Scenes Techniques for Deep Understanding of Consumer Behavior
Japan Internet Advertising Market CAGR of 24.9%, Behind the Scenes Techniques fo …
The Japan Internet Advertising Market has demonstrated remarkable growth, reaching a valuation of USD 29.49 Billion in 2021. With the digital landscape continually evolving, it is forecasted to soar to an impressive USD 112.04 Billion by 2027. This surge represents an anticipated compound annual growth rate (CAGR) of 24.9% over the projected period, highlighting the dynamic and rapidly expanding nature of the digital advertising sector in Japan. Internet Advertising are set
Location Analytics Market Through the Looking Glass Techniques for a Profound Understanding of Consumer Behavior
Location Analytics Market Through the Looking Glass Techniques for a Profound Un …
This comprehensive market research report offers an in-depth analysis of the global location analytics market from 2019 to 2026. Valued at USD 10,813.6 million in 2019, the market is forecasted to surge to USD 29,878.5 million by 2026, demonstrating a robust Compound Annual Growth Rate (CAGR) of 15.6% throughout the projection period. This report delves into the key drivers, restraints, opportunities, and challenges that are shaping the market, providing stakeholders
Affiliate Marketing Platform Market Eyes Wide Open Maximizing the Value of Observational Research in Consumer Behavior
Affiliate Marketing Platform Market Eyes Wide Open Maximizing the Value of Obser …
The Global Affiliate Marketing Platform Market, valued at USD 19,217.4 million in 2021, is projected to witness significant growth over the next decade, reaching an estimated value of USD 36,902.1 million by 2030. This report provides an in-depth analysis of the market dynamics, growth drivers, challenges, and opportunities that will influence the affiliate marketing landscape over the forecast period of 2021-2030. With a Compound Annual Growth Rate (CAGR) of 7.7%,
Global Clear Brine Fluids Market Growth Forecast and Trends (2022-2030)
Global Clear Brine Fluids Market Growth Forecast and Trends (2022-2030)
The global clear brine fluids market was valued at US$ 0.95 billion in 2021. It is anticipated to experience growth, reaching a valuation of US$ 1.39 billion by 2030. This growth trajectory translates to a compound annual growth rate (CAGR) of 3.1% during the forecast period from 2022 to 2030. Clear brine fluids, crucial in the oil and gas industry for drilling and completion processes, are poised for increased demand,

All 5 Releases


More Releases for Workforce

Key Influencer in the Workforce Optimization Market 2025: Impact Of Growing Remo …
What industry-specific factors are fueling the growth of the workforce optimization market? The surge in the population of remote employees is predicted to stimulate the expansion of the workforce optimization market. Remote employees are individuals who carry out their tasks away from the conventional office setting, typically from home or a place with internet connectivity. This surge is prompted by progress in technology, evolving office cultures, financial efficiency strategies, and the
Contingent Workforce Management Market Worth Observing Growth | SAP SE, Beeline, …
Advance Market Analytics published a new research publication on "Contingent Workforce Management Market Insights, to 2030" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Contingent Workforce Management market was mainly driven by the increasing R&D spending across the world. Get inside Scoop of the
Workforce Analytics Market Landscape 2024: Data-Driven Workforce Solutions
"The Business Research Company recently released a comprehensive report on the Global Workforce Analytics Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry. Ready to Dive into Something Exciting? Get Your Free Exclusive Sample
Contingent Workforce Management Market Contingent Workforce Management Market 20 …
According to the report, the global contingent workforce management industry generated $171.5 trillion in 2021 and is estimated to reach $465.2 trillion by 2031 witnessing a CAGR of 10.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios. Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/31845 Rising population, increasing demand for flexible workforces, shifting demographics, and labor force
Workforce Management Market Is Booming Worldwide | WORKDAY, KRONOS, SISQUAL, Wor …
Global Workforce Management Market Report - Production and Consumption Professional Analysis (Impact of COVID-19) is latest research study released by HTF MI evaluating the market risk side analysis, highlighting opportunities and leveraged with strategic and tactical decision-making support. The market Study is segmented by key a region that is accelerating the marketization. The report provides information on market trends and development, growth drivers, technologies, and the changing investment structure of
Workforce Analytics Market Huge growth | NICE Systems, Infor, Workforce Software
Global Workforce Analytics Industry Market Research Report is latest research study released by HTF MI evaluating the market, highlighting opportunities, risk side analysis, and leveraged with strategic and tactical decision-making support. The study provides information on market trends and development, drivers, capacities, technologies, and on the changing capital structure of the Global Workforce Analytics Market. Some of the key players profiled in the study are NICE Systems, Infor, Workforce Software,