Workforce Management (WFM) Software Market Increasing Demand, Growth Analysis and Future Outlook by 2031

The global WFM Software market is anticipated to grow at a CAGR of 11.7% during the forecast period (2024-2031). Time and attendance tracking involves monitoring and recording employee work hours, breaks, and time-off. Additionally, scheduling and shift planning are used to create and optimize employee schedules based on demand, skills, and availability. Labor forecasting helps predict future workforce needs for optimal staffing levels, while task and workload management efficiently assign tasks and manage workloads across the workforce. Other aspects include leave and absence management, compliance and regulatory management, employee performance management, skills and certification tracking, real-time analytics and reporting, mobile workforce management, payroll integration, demand-driven workforce planning, employee self-service portals, and field service management. The market's growth is attributed to the increased emphasis on operational efficiency across the globe. For instance, in January 2024, Veryable launched new Workforce Management Tool (WFM) for manufacturing and logistics. This tool offers a suite of features aimed at improving labor planning processes and reducing operational costs.

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Furthermore, a native WFM solution integrated with CCaaS aims to improve customer interactions by effectively managing agent availability based on their skills and ensuring timely assistance. This contributes to enhancing the overall customer service experience. In March 2023, UJET launched a native workforce management (WFM) solution that complements and extends its CCaaS offering. The WFM offering will help streamline and leverage available operational data.

Market Coverage

• The market number available for - 2023-2031
• Base year- 2023
• Forecast period- 2023-2031
• Segment Covered-
o By Type
o By Deployment Mode
o By Enterprise Size
o By End-user
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes IBM Corp.,Mitrefinch Ltd,Sage Group plc, UKG Inc., WorkForce Software, LLC., and others.

• Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Workforce Management (WFM) Software Market Report Segment

By Type

• Workforce Scheduling and Workforce Analytics
• Time and Attendance Management
• Performance and Goal Management
• Absence and Leave Management
• Others (Fatigue Management, Task Management, and Remote Workforce Management)

By Deployment Mode

• On-premise
• Cloud

By Enterprise Size

• Large Enterprises
• Small and Medium Enterprises (SMEs)

By End-user

• BFSI
• Consumer Goods and Retail
• Automotive
• Energy and Utilities
• Healthcare and Life Sciences
• Manufacturing
• Others (Transportation and Logistics, Education,
• Travel and Hospitality, and Media and Entertainment)

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Workforce Management (WFM) Software Market Report Segment by Region

North America

• United States
• Canada

Europe

• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa
• Latin America

Company Profiles

• Advanced Computer Software Group Ltd.
• Blue Yonder, Inc.
• IBM Corp.
• Infor
• Mitrefinch Ltd
• NICE Ltd.
• Oracle
• Roubler Australia Pty Ltd
• Sage Group plc
• SAP SE
• ServiceMax, Inc.
• SISQUAL Workforce Management, Lda.
• tamigo ApS

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