Workforce Management Market to witness increasing growth by, Globally 2024

Workforce Management Market: Overview

The workforce management segment basically falls under the category of the human resource management that manages and maintains all the major activities of the workforce in the organization. In the small and medium enterprises, the traditional and conventional methods are used to track their workforce. To overcome the disadvantages of the traditional method the workforce management was developed in order to minimize the labor expenses, improve the productivity and utilize the workforce completely for improving the business performance. By automating the processes such as employee pay and their time calculation increases the accuracy and eliminates the errors in the calculation. The workforce management enables the organizations to correct the existing problems and ensure the better utilization of the resources.

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Workforce Management Market: Segmentation

The global workforce management market is segmented into solutions, services, deployment types, organization sizes, verticals, and regions. Based on the solutions, the global market is segregated into time and attendance, compensation management, talent management, analytics, learning management, workforce scheduling and others. On the basis of the services provided by workforce management, the global market is divided into training and education, deployment and integration and support and maintenance. Based on the organization size the global market is divided into large enterprises and SMEs. Based on the deployment types, the workforce management market is categorized into cloud and on-premises. The different verticals where the global market is utilized are BFSI, IT and telecommunication, retail, automotive, government and public utilities, education, manufacturing, healthcare, energy and utilities and others. Region wise the global market is diversified into the Middle East and Africa, Europe, North America, Latin America and Asia Pacific.

Workforce Management Market: Growth Factors

The growing population and the rise in the number of the small and medium enterprises are the major factors owing to which the global workforce management market is growing. The other key drivers of the market growth are increasing consumption of the workforce, changing dynamics of the workforce, increased usage of the mobile phones and the availability of the software-as-a-service management solution play a key role in the development of the global market. The major industrial verticals where the global workforce management market has grown at a rapid rate are manufacturing, retail, BFSI, and the healthcare. Increasing mobility and globalization has significantly influenced the demand for the workforce management solutions in order to satisfy their workforce, better scheduling, and engagement.

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Workforce Management Market: Regional Analysis

The region that dominates the global workforce management market is North America which is followed by Europe. However, the emerging economies such as India and China are boosting the global market; hence, the Asia-Pacific region is showing a tremendous growth rate. In North America, the increasing acceptance of the technological advancements and the awareness in the organizations about the developing workforce management has triggered the global market growth in a positive way.

Workforce Management Market: Competitive Players

The major market players in the global workforce management market are Atoss Software AG, Clicksoftware Technologies Ltd., IBM Corporation, Kronos, Oracle Corporation, Reflexis System Inc., Workday, Automatic Data Processing (ADP), LLC. Crown Workforce Management System, Infor Global Solutions¸ Nice Systems Inc., Peoplefluent, SAP AG and the Workforce Software.

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Workforce Management Market: Regional Segment Analysis

North America
U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
Middle East and Africa

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