Workforce Management Market Analysis, Development, Revenue, Future Growth and Forecast to 2026
Various segments of the market have been divided into different divisions. They have been depicted maximum share and profit maximization of the industry during the forecasting period of 2018 to 2026. This is mentioned in the report too. Depending on the information, it has been recognized with different data and figures offered by the analysis of the overall understanding of the marketplace and value. Various distinctive features involve the market's knowledge based on the factors like the demographic changes, dimensions, historical details, and overviews. The research is also included in the strategic movements that are undertaken by the top-notch markets.
The Global Workforce Management Market size stood at USD 2.44 billion in 2018 and is projected to reach USD 5.25 billion by 2026, exhibiting a CAGR of 10.1% during the forecast period
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Key Players in the Workforce Management Market are:
• NetSuite, Inc.
• Cornerstone OnDemand, Inc.
• WorkForce Software, LLC.
• Automatic Data Processing, Inc.
• Oracle Corporation
• IBM Corporation
• Ultimate Software
• Workday, Inc.
• SAP SE
• Kronos, Inc.
Scope of the Report:
• Workforce Management Market 2021 global industry research report is a professional and in-depth study on the Advanced Traffic Management Systems trends, share, size, growth, as well as industry analysis. Furthermore, size, the revenue shares of each segment and its sub-segments, as well as forecast figures are also covered in this report.
• The Global Workforce Management Market report is provided for the international markets as well as development trends, competitive landscape analysis, and key regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analysed. This report additionally states import/export consumption, supply and demand Figures, cost, price, revenue and gross margins.
• The financial parameters which are assessed include the sales, profits and the overall revenue generated by the key players of industry. Furthermore, the report offers a detailed analysis and information as per Workforce Management Market Growth Analysis by manufacturers, segments helping our readers to get a comprehensive overview of the global
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On the basis of type, the market is bifurcated into on-premises and cloud-based. On the basis of enterprise size, the market is categorized into SMEs and large enterprises. On the basis of end-user, the market is fragmented into retail, logistics & transportation, IT & telecommunication, manufacturing, healthcare, BFSI, and others. Geographically, the market is classified into - South America, North America, Europe, Asia Pacific, and the Middle East & Africa.
• The report provides a 360-degree assessment of the prospected market.
• It showcases growth insights on North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
• It highlights key developments such as acquisitions, expansions, mergers, collaborations, and others.
• It analyzes the COVID-19 pandemic impact.
Drivers & Restraints-
Lack of Knowledge about WFM Software Tools to Hamper Growth
Managing and maintaining the productivity levels of human resources is an expensive undertaking for companies of all sizes. The Human Capital Management Institute estimates that 70% of an organization’s operating costs are eaten up by employee management tasks. In such a dire scenario, where reducing operational costs is the prime focus in the private sector, the demand for effective workforce management systems is rising as they offer numerous advantages for organizations. For instance, WFM software can empower managers to make more informed decisions due to better access to data. It would also enable managers to select the right person for the right job, ensuring efficiency in task performance. Unfortunately, awareness of these benefits is abysmally low, stemming from the adoption of these technologies, particularly among the small and medium enterprises (SMEs). This can put crippling limitations on the workforce management market growth during the forecast period.
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Government-led Digitization Initiatives to Drive Market Growth in Asia-Pacific
The market size in Asia-Pacific is anticipated to showcase the most impressive growth trajectory in the forthcoming years. The prime factor propelling the market in this region include the digitization of services and processes, backed by strong government support. An excellent example of this is Singapore’s ‘Go Digital’ initiates that encourages SMEs to integrate digital solutions in their existing setups.
North America, with a revenue generation of USD 0.92 billion in 2018, is poised to dominate the workforce management market share as companies in the region are aggressively implementing cloud-based solutions. Additionally, the region is also home to some of the largest technology giants such as IBM and Oracle, which augurs well for this market. In Europe, on the other hand, rising demand for automation is expected to fuel the market.
Upgradation of Existing Offerings with WFM Solutions to Intensify Competition
Companies across the board are recognizing the benefits of WFM tools, creating a wide field of opportunities for players operating in this market. Some key participants are also entering into strategic collaborations to expand their presence in this market, according to the workforce management software market analysis.
• January 2020: The Italian gum and confectionary manufacturer Perfetti Van Melle chose Kronos Incorporated, the US-based workforce management leader, to automate its 2,600-strong workforce in eight countries. With Kronos Workforce Central, Perfetti will have a unified WFM platform to monitor its employees as well as optimize its manufacturing processes.
• October 2019: The American human resource management tools provider Automatic Data Processing, Inc. expanded its WFM solutions portfolio to include ADP Compliance on Demand to track employee performance efficiently.
Table of Content
o Definition, By Segment
o Research Approach
• Executive Summary
• Market Dynamics
o Drivers, Restraints and Opportunities
o Emerging Trends
• Key Insights
o Macro and Micro Economic Indicators
o Consolidated SWOT Analysis of Key Players
o Porter’s Five Forces Analysis
• Global Workforce Management Market Analysis, Insights and Forecast, 2015-2026
o Key Findings / Summary
o Market Size Estimates and Forecasts
By Component (Value)
By Deployment (Value)
By Organization Size (Value)
By Application (Value)
Time and Attendance Management
Others (Task Management and fatigue management)
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