Growth Factors of Workforce Management Market
The Workforce Management Market size was valued at USD 2.44 billion in 2018. The market is projected tgrow from USD 5.25 billion in 2026, exhibiting a CAGR of 10.1% during the forecast period of 2019-2026.
The COVID-19 pandemic negatively impacted the workforce control marketplace as businesses faced operational disruptions and monetary uncertainty. Many companies postponed or reduced investments in staff management solutions due tprice range constraints and shifting priorities. Lockdowns and remote work adoption led tdecreased demand for conventional group of workers control gear, specifically in industries like retail, hospitality, and manufacturing. Workforce reductions and furloughs similarly dwindled the want for such structures. However, the pandemic highlighted the significance of bendy and adaptive personnel control solutions, particularly for coping with faraway and hybrid workforces, riding innovation and eventual healing as businesses adjusted tnew place of work dynamics.
A terrific trend inside the team of workers control marketplace is the growing adoption of cloud-based solutions. These systems offer scalability, actual-time information get entry to, and integration abilities, making them attractive torganizations looking for efficient and bendy group of workers management. The shift towards faraway and hybrid paintings fashions has similarly extended this adoption, as cloud-based systems facilitate seamless control of allotted groups. This trend is anticipated tkeep, with the worldwide team of workers management market projected tdevelop substantially within the coming years.
One key driving component in the body of workers control marketplace is the developing call for automation and synthetic intelligence (AI) solutions. Organizations are an increasing number of looking for tstreamline operations, improve productiveness, and enhance choice-making capabilities. Workforce control systems included with AI can automate scheduling, optimize labour allocation, and forecast staffing needs greater appropriately. These solutions additionally provide superior analytics, enabling groups thigher manipulate their group of workers and respond tchanges in call for. The shift in the direction of digital transformation throughout industries, in conjunction with the want for efficiency and cost reduction, is similarly propelling the adoption of computerized staff control technology.
Comprehensive Analysis of Workforce Management Market
The Workforce Management Market growth is rising at an exponential rate due tits marketplace segmentation. This market expansion correctly affords a detailed local assessments thinking about the dominant supply and call for forces that effect the enterprise. These segmentations are methodically segregated by component include software, and services, by deployment include on-premise, and cloud, by enterprise size include SMEs and large enterprises, by application include workforce analytics, workforce scheduling, time and attendance management, and others, by end-use industry include it and telecommunication, BFSI, government, retail, healthcare, education, manufacturing, and others.
The North America location lead the Workforce Management Market share percentage via benefitting a marketplace size of USD 0.92 billion due tearly adoption of cloud platforms and the presence of well-established players such as Oracle Corporation and Kronos in the region.
The top players in the market play a crucial role in the industry assuring market growth and setting market standards. These players include, oracle corporation, sap se, automatic data processing, inc., workday, inc., ultimate software, cornerstone OnDemand, Inc.
January 2020: Perfetti Van Melle carried out the Kronos Workforce Central method tautomate personnel approaches for its 2,six hundred employees throughout 8 locations. The answer integrates group of workers control, tracks productiveness metrics, videdisplay units group of workers charges, and ensures compliance. This system streamlines operations, enhances efficiency, and helps Perfetti Van Melle’s group of workers control goals.
Segmentation Table
ATTRIBUTE DETAILS
Study Period - 2015 - 2026
Base Year - 2018
Forecast Period - 2019 - 2026
Historical Period - 2015 - 2017
Unit - Value (USD billion)
Segmentation By Component
- Software
- Services
- On-Premise
- Cloud
- SMEs
- Large Enterprises
- Workforce Analytics
- Workforce Scheduling
- Time and Attendance Management
- Others (Task Management and Fatigue Management)
- IT and Telecommunication
- BFSI
- Government
- Retail
- Healthcare
- Education
- Manufacturing
- Others
- North America (U.S. and Canada)
- Europe (U.K., Germany, France, Scandinavia, and Rest of Europe)
- Asia-Pacific (Japan, China, India, Southeast Asia, and Rest of Asia-Pacific)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
- Latin America (Brazil, Mexico, and Rest of Latin America)
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- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Approach
- 1.3. Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Drivers, Restraints and Opportunities
- 3.2. Emerging Trends
- 4. Key Insights
- 4.1. Macro and Micro Economic Indicators
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Porter’s Five Forces Analysis
- 5. Global Workforce Management Market Analysis, Insights and Forecast, 2015-2026
- 5.1. Key Findings / Summary
- 5.2. Market Size Estimates and Forecasts
- 5.2.1. By Component (Value)
- 5.2.1.1. Software
- 5.2.1.2. Services
- 5.2.2. By Deployment (Value)
- 5.2.2.1. Cloud
- 5.2.2.2. On-Premise
- 5.2.3. By Organization Size (Value)
- 5.2.3.1. SME's
- 5.2.3.2. Large Enterprises
- 5.2.4. By Application (Value)
- 5.2.4.1. Workforce Analytics
- 5.2.4.2. Workforce Scheduling
- 5.2.4.3. Time and Attendance Management
- 5.2.4.4. Others (Task Management and fatigue management)
- 5.2.5. By End Use Industry (Value)
- 5.2.5.1. Telecom and IT
- 5.2.5.2. BFSI
- 5.2.5.3. Government
- 5.2.5.4. Retail
- 5.2.5.5. Healthcare
- 5.2.5.6. Education
- 5.2.5.7. Manufacturing
- 5.2.5.8. Others
- 5.2.6. By Geography (Value)
- 5.2.6.1. North America
- 5.2.6.2. Europe
- 5.2.6.3. Asia Pacific
- 5.2.6.4. Middle East and Africa
- 5.2.6.5. Latin America
- 6. North America Workforce Management Market Analysis, Insights and Forecast, 2015-2026
- 6.1. Key Findings / Summary
- 6.2. Market Size Estimates and Forecasts
- 6.2.1. By Component (Value)
- 6.2.1.1. Software
- 6.2.1.2. Services
- 6.2.2. By Deployment (Value)
- 6.2.2.1. Cloud
- 6.2.2.2. On-Premise
- 6.2.3. By Organization Size (Value)
- 6.2.3.1. SME's
- 6.2.3.2. Large Enterprises
- 6.2.4. By Application (Value)
- 6.2.4.1. Workforce Analytics
- 6.2.4.2. Workforce Scheduling
- 6.2.4.3. Time and Attendance Management
- 6.2.4.4. Others (Task Management and fatigue management)
- 6.2.5. By End Use Industry (Value)
- 6.2.5.1. Telecom and IT
- 6.2.5.2. BFSI
- 6.2.5.3. Government
- 6.2.5.4. Retail
- 6.2.5.5. Healthcare
- 6.2.5.6. Education
- 6.2.5.7. Manufacturing
- 6.2.5.8. Others
- 6.2.6. By Country (Value)
- 6.2.6.1. United States
- 6.2.6.2. Canada
- 7. Europe Workforce Management Market Analysis, Insights and Forecast, 2015-2026
- 7.1. Key Findings / Summary
- 7.2. Market Size Estimates and Forecasts
- 7.2.1. By Component (Value)
- 7.2.1.1. Software
- 7.2.1.2. Services
- 7.2.2. By Deployment (Value)
- 7.2.2.1. Cloud
- 7.2.2.2. On-Premise
- 7.2.3. By Organization Size (Value)
- 7.2.3.1. SME's
- 7.2.3.2. Large Enterprises
- 7.2.4. By Application (Value)
- 7.2.4.1. Workforce Analytics
- 7.2.4.2. Workforce Scheduling
- 7.2.4.3. Time and Attendance Management
- 7.2.4.4. Others (Task Management and fatigue management)
- 7.2.5. By End Use Industry (Value)
- 7.2.5.1. Telecom and IT
- 7.2.5.2. BFSI
- 7.2.5.3. Government
- 7.2.5.4. Retail
- 7.2.5.5. Healthcare
- 7.2.5.6. Education
- 7.2.5.7. Manufacturing
- 7.2.5.8. Others
- 7.2.6. By Country (Value)
- 7.2.6.1. UK
- 7.2.6.2. Germany
- 7.2.6.3. France
- 7.2.6.4. Scandinavia
- 7.2.6.5. Rest of Europe
- 8. Asia Pacific Workforce Management Market Analysis, Insights and Forecast, 2015-2026
- 8.1. Key Findings / Summary
- 8.2. Market Size Estimates and Forecasts
- 8.2.1. By Component (Value)
- 8.2.1.1. Software
- 8.2.1.2. Services
- 8.2.2. By Deployment (Value)
- 8.2.2.1. Cloud
- 8.2.2.2. On-Premise
- 8.2.3. By Organization Size (Value)
- 8.2.3.1. SME's
- 8.2.3.2. Large Enterprises
- 8.2.4. By Application (Value)
- 8.2.4.1. Workforce Analytics
- 8.2.4.2. Workforce Scheduling
- 8.2.4.3. Time and Attendance Management
- 8.2.4.4. Others (Task Management and fatigue management)
- 8.2.5. By End Use Industry (Value)
- 8.2.5.1. Telecom and IT
- 8.2.5.2. BFSI
- 8.2.5.3. Government
- 8.2.5.4. Retail
- 8.2.5.5. Healthcare
- 8.2.5.6. Education
- 8.2.5.7. Manufacturing
- 8.2.5.8. Others
- 8.2.6. By Country (Value)
- 8.2.6.1. China
- 8.2.6.2. Japan
- 8.2.6.3. India
- 8.2.6.4. South East Asia
- 8.2.6.5. Rest of APAC
- 9. Middle East and Africa Workforce Management Market Analysis, Insights and Forecast, 2015-2026
- 9.1. Key Findings / Summary
- 9.2. Market Size Estimates and Forecasts
- 9.2.1. By Component (Value)
- 9.2.1.1. Software
- 9.2.1.2. Services
- 9.2.2. By Deployment (Value)
- 9.2.2.1. Cloud
- 9.2.2.2. On-Premise
- 9.2.3. By Organization Size (Value)
- 9.2.3.1. SME's
- 9.2.3.2. Large Enterprises
- 9.2.4. By Application (Value)
- 9.2.4.1. Workforce Analytics
- 9.2.4.2. Workforce Scheduling
- 9.2.4.3. Time and Attendance Management
- 9.2.4.4. Others (Task Management and fatigue management)
- 9.2.5. By End Use Industry (Value)
- 9.2.5.1. Telecom and IT
- 9.2.5.2. BFSI
- 9.2.5.3. Government
- 9.2.5.4. Retail
- 9.2.5.5. Healthcare
- 9.2.5.6. Education
- 9.2.5.7. Manufacturing
- 9.2.5.8. Others
- 9.2.6. By Country (Value)
- 9.2.6.1. GCC
- 9.2.6.2. South Africa
- 9.2.6.3. Rest of MEA
- 10. Latin America Workforce Management Market Analysis, Insights and Forecast, 2015-2026
- 10.1. Key Findings / Summary
- 10.2. Market Size Estimates and Forecasts
- 10.2.1. By Component (Value)
- 10.2.1.1. Software
- 10.2.1.2. Services
- 10.2.2. By Deployment (Value)
- 10.2.2.1. Cloud
- 10.2.2.2. On-Premise
- 10.2.3. By Organization Size (Value)
- 10.2.3.1. SME's
- 10.2.3.2. Large Enterprises
- 10.2.4. By Application (Value)
- 10.2.4.1. Workforce Analytics
- 10.2.4.2. Workforce Scheduling
- 10.2.4.3. Time and Attendance Management
- 10.2.4.4. Others (Task Management and fatigue management)
- 10.2.5. By End Use Industry (Value)
- 10.2.5.1. Telecom and IT
- 10.2.5.2. BFSI
- 10.2.5.3. Government
- 10.2.5.4. Retail
- 10.2.5.5. Healthcare
- 10.2.5.6. Education
- 10.2.5.7. Manufacturing
- 10.2.5.8. Others
- 10.2.6. By Country (Value)
- 10.2.6.1. Brazil
- 10.2.6.2. Mexico
- 10.2.6.3. Rest of LATAM
- 11. Competition Matrix
- 11.1. Business Strategies Adopted by Leading Players
- 12. Global Workforce Management Market Revenue Share Analysis, 2018
- 13. Company Profile
- 13.1. Oracle Corporation
- 13.1.1. Overview
- 13.1.2. Description
- 13.1.3. Product Portfolio
- 13.1.4. Financials (Data as available in public domain and/or on paid databases)
- 13.1.5. Recent Developments
- 13.2. Kronos, Inc.
- 13.2.1. Overview
- 13.2.2. Description
- 13.2.3. Product Portfolio
- 13.2.4. Financials (Data as available in public domain and/or on paid databases)
- 13.2.5. Recent Developments
- 13.3. SAP SE
- 13.3.1. Overview
- 13.3.2. Description
- 13.3.3. Product Portfolio
- 13.3.4. Financials (Data as available in public domain and/or on paid databases)
- 13.3.5. Recent Developments
- 13.4. Automatic Data Processing, Inc.
- 13.4.1. Overview
- 13.4.2. Description
- 13.4.3. Product Portfolio
- 13.4.4. Financials (Data as available in public domain and/or on paid databases)
- 13.4.5. Recent Developments
- 13.5. Workday, Inc.
- 13.5.1. Overview
- 13.5.2. Description
- 13.5.3. Product Portfolio
- 13.5.4. Financials (Data as available in public domain and/or on paid databases)
- 13.5.5. Recent Developments
- 13.6. WorkForce Software, LLC.
- 13.6.1. Overview
- 13.6.2. Description
- 13.6.3. Product Portfolio
- 13.6.4. Financials (Data as available in public domain and/or on paid databases)
- 13.6.5. Recent Developments
- 13.7. Ultimate Software
- 13.7.1. Overview
- 13.7.2. Description
- 13.7.3. Product Portfolio
- 13.7.4. Financials (Data as available in public domain and/or on paid databases)
- 13.7.5. Recent Developments
- 13.8. Cornerstone OnDemand, Inc.
- 13.8.1. Overview
- 13.8.2. Description
- 13.8.3. Product Portfolio
- 13.8.4. Financials (Data as available in public domain and/or on paid databases)
- 13.8.5. Recent Developments
- 13.9. IBM Corporation
- 13.9.1. Overview
- 13.9.2. Description
- 13.9.3. Product Portfolio
- 13.9.4. Financials (Data as available in public domain and/or on paid databases)
- 13.9.5. Recent Developments
- 13.10. Verint
- 13.10.1. Overview
- 13.10.2. Description
- 13.10.3. Product Portfolio
- 13.10.4. Financials (Data as available in public domain and/or on paid databases)
- 13.10.5. Recent Developments
- 13.11. Infor
- 13.11.1. Overview
- 13.11.2. Description
- 13.11.3. Product Portfolio
- 13.11.4. Financials (Data as available in public domain and/or on paid databases)
- 13.11.5. Recent Developments
- 13.12. NetSuite, Inc.
- 13.12.1. Overview
- 13.12.2. Description
- 13.12.3. Product Portfolio
- 13.12.4. Financials (Data as available in public domain and/or on paid databases)
- 13.12.5. Recent Developments
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