Workforce Management Market 2020 Global Trends, Key Players, Share, Growth, Analysis, Opportunities And Forecast To 2025
Workforce Management
Market 2020 Global Trends, Key Players, Share, Growth, Analysis, Opportunities
And Forecast To 2025
Growing labour force rapidly across the world is driving
factor for the growth of global workforce management market.
Workforce Management Market is valued at USD 5874.56 Million
in 2018 and expected to reach USD 11817.11 Million by 2025 with the CAGR of
10.5% over the forecast period.
Workforce management is the process
of scheduling and organizing business's labor force as efficiently and
effectively as possible. It is often utilizes workforce management software to
automate some processes and enable employee self-service and also used to
increase overall efficiency and productivity among employees. There are
numbers of solutions which used to support workforce management such as time
& attendance management, leave and absence management, workforce scheduling,
workforce analytics and others. Workforce management (WFM) used in apply in
various applications including effective staffing, forecasting, scheduling and
real-time adjustments required for organization to be as efficient as possible.
By using correct technology, processes and procedures, users can effectively
manage workforce for optimal performance and lowered labor costs. Workforce
management solutions consist of leave and absence management, time and
attendance, workforce analytics, workforce scheduling and others including task
management.
Workforce management market report is segmented on the basis
of component, solution, service, deployment type, organization size industry
vertical and by regional & country level. Based upon component, workforce
management market is classified into solutions and services. Based upon
solution, workforce management market is classified into time and attendance
management, leave and absence management, workforce scheduling, workforce
analytics, others (fatigue management and task management). Based upon service,
workforce management market is classified into consulting, implementation and
training, support and maintenance. Based upon deployment type, workforce
management market is classified into on-premises and cloud. Based upon
organization size, workforce management market is classified into large
enterprises and small and medium-sized enterprises (SME’s). Based upon industry
vertical, workforce management market is classified into government and
defence, banking, financial services, and insurance (BFSI), IT and telecom,
healthcare, retail, manufacturing, energy and utilities and others (including
education, media and entertainment, and travel and transportation).
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The regions covered in this workforce management market
report are North America, Europe, Asia-Pacific and Rest of the World. On the
basis of country level, market of workforce management is sub divided into
U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South
East Asia, GCC, Africa, etc.
Workforce Management
Companies
SAP SE
Oracle Corporation
Nice Systems
Active Ops Limited
Nice Systems Inc.
Kronos Incorporated
Verint
Workforce Software Group Inc.
Ramco Systems TimeClock Plus
Replicon
Mark Information
Oracle
ATOSS
NICE
Ultimate Software
Kronos
ADP
SAP
IBM
Workday
Reflexis Systems
SumTotal
Infor
Meta4
Ceridian
Others.
Workforce Management
Market Dynamics –
Growing labour force rapidly across the world is driving
factor for the growth of global workforce management market. According to ODI
report, globally, 3.45 billion people are in the labour force. In addition,
Growing adoption of workforce management solution by small and medium sized
enterprises (SMSE) and growing demand for workforce optimization and mobile
applications are the key factors demanding for workforce management market.
Moreover, increasing adoption for workforce management solutions and services
across various sectors is expected to fueling market growth in the forcast
period. However, higher innovation cost of workforce management solution, lack
of awareness among small enterprises and consumers regarding the need for
labour management solution, these factors will hamper the growth of market.
Moreover, adoption of technological advancements in healthcare,
entertainment, manufacturing, automotive sectors and increasing mobile
application users, raising awareness regarding the innovative workforce management
solution technologies is predicted to create wide opportunities for the
players operating in the workforce management market during forecast
period.
Workforce Management
Market Regional Analysis –
North America is dominating the workforce management market
with the potential rate due to rising demand for workforce optimization and
mobile applications utilization in telecom industry, bank sectors, presence of
leading players in the region. Also, media and entertainment sectors are
driving the growth of the global workforce management market. For instance,
Kronos is one of the leading vendors in U.S in the workforce management market.
In the market, Kronos offers the Workforce Central Suite and Workforce
Dimension Suite. These suites provide to various organizations for several
business needs such as forecasting and scheduling, time and attendance, labour
activities, absence management, analytics, and data collection.
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The Asia Pacific is expected to emerge as the
fastest-growing regional market over the forecast period with due to increasing
mobile application users, growing need for intelligent workforce management
solutions. Moreover, developing strong technology infrastructure in developing
countries such as China and India. These are one of the major factors
driving the workforce management market growth during forcast period. Moreover,
increasing government initiative towards labour management will increase demand
for workforce management in forecast period.
Key Benefits for
Workforce Management Market Reports –
Global Market report covers in depth historical and forecast
analysis.
Global Market research report provides detail information
about Market Introduction, Market Summary, Global market Revenue (Revenue USD),
Market Drivers, Market Restraints, Market opportunities, Competitive Analysis,
Regional and Country Level.
Global Market report helps to identify opportunities in
market place.
Global Market report covers extensive analysis of emerging
trends and competitive landscape.
Workforce Management
Market Segmentation –
By Component: Solutions,
Services
By Solution: Time
and Attendance Management, Leave and Absence Management, Workforce Scheduling,
Workforce Analytics, Others (Fatigue Management and Task Management)
By Service: Consulting,
Implementation, Training, Support and Maintenance
By Deployment Type: On-Premises,
Cloud
By Organization Size: Large
Enterprises, Small and Medium-sized Enterprises (SMEs)
By Industry Vertical: Government
and Defence, Banking, Financial Services, and Insurance (BFSI), IT and Telecom,
Healthcare, Retail, Manufacturing, Energy and Utilities, Others (including
education, media and entertainment, and travel and transportation)
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