Updated On May 15, 2024

By SaraNextGen

Workforce Management Market Research Report

Global Workforce Management Market Size, Growth, Statistics & Trends Analysis Report By Component (Workforce Scheduling and Analysis.

Workforce Management Market:

• The GMI Research expects the workforce management market to expand at a significant rate. From a regional perspective, the Asia-Pacific is anticipated to grow at a higher CAGR due to the high adoption of advanced digital technologies, such as artificial intelligence, cloud computing, workforce management services and solutions, and remote working trend in developing countries like India and China.

• Workforce Management Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis) Key Drivers

• The global workforce management market is projected to experience strong demand over the coming years due to the growing trend of BYOD (Bring-Your-Own-Device), the high adoption of the digital workplace and remote working trend, and the rising demand for workforce optimization. Moreover, the continuously transforming traditional solutions into advanced IT and technological solutions, such as the Internet of Things, cloud-based solutions, and the increasing penetration of smart devices including laptops, smartphones in business organizations will further boost the growth of the workforce management software market size.

• Workforce management solutions help organizations automate the process to improve productivity, enhancing accuracy, efficiency, workforce effectiveness, and employee engagement. Additionally, the increasing workforce management software adoption among small and medium-sized organizations due to the growing demand to maintain and track the workforce for accomplishing a productive outcome is the one the emerging workforce management software trends that is bolstering the growth of the market. As per the World Bank Group, small and medium industries represent around 90% of businesses at a global level and are anticipated to offer approximately 600 million jobs by 2030. This driver will accelerate the growth of the workforce management software market during the forecast period. On the other hand, the factor hindering the growth of the market include the limited awareness associated with the benefits of introducing workforce management solutions in an organization. However, the growing privacy and security concerns pertaining to workforce data on the cloud will hamper the market growth.

• Component Segment Drivers

• Based on the component, the HR Management (Software) segment is predicted to dominate the market during the forecast period due to strategic HR tasks such as talent management, performance management, learning management, and recruiting. Some of the leading HRM software that includes Oracle HCM Cloud; Dayforce, UltiPro, cloud-based HRIS software; and ADP Workforce Now, will energize the growth of the market.

• Workforce Management Market’s leading Manufacturers:

• ActiveOps Limited

• Oracle Corporation

• Nice Ltd.

• SAP SE

• Kronos Incorporated

• International Business Machines Corporation

• ADP, Inc.

• UKG Inc.

• Workday, Inc.

• Zebra Technologies Corporation

• Workforce Management Market Segmentation: Segmentation by Component:

• Workforce Scheduling and Analysis (Software)

• Time and Attendance Management (Software)

• Performance Management (Software)

• HR Management (Software)

• Service

• Segmentation by Deployment Mode:

• On-Premise

• Cloud

• Segmentation by End-Use Industry:

• BFSI

• Consumer Goods and Retail

• Automotive

• Energy and Utilities

• Healthcare

• Manufacturing

• Others

• Segmentation by Region:

• North America

  • United States of America

  • Canada

• Asia Pacific

  • China

  • Japan

  • India

  • Rest of APAC

• Europe

  • United Kingdom

  • Germany

  • France

  • Spain

  • Rest of Europe

• RoW

  • Brazil

  • South Africa

  • Saudi Arabia

  • UAE

  • Rest of the world (remaining countries of the LAMEA region)