Workforce management (WFM) includes processes that enable an organization to track performance and optimize the productivity of their employees. It effectively forecasts labor requirements and manages staff schedules for accomplishing different tasks regularly. It also helps in improving labor planning, lowering operational costs and providing better customer services. As a result, workforce management software is utilized in the healthcare, and banking, financial services and insurance (BFSI) sectors, which are involved in high time-sensitive tasks.
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Owing to the increasing focus on workforce optimization, organizations around the world are relying on WFM solutions to manage their time and avoid duplication of tasks. This, in confluence with the increasing adoption of cloud-based solutions, is driving the global WFM market growth. Furthermore, digitalization and the rising penetration of smartphones is also strengthening the market growth. Apart from this, the introduction of real-time solutions in WFM, along with the integration of software-as-a-service (SaaS) technology, are anticipated to propel the market growth in the upcoming years.
Table of Contents
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Workforce Management Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Forecast
6 Market Breakup by Solution
6.1 Absence Management
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Performance Management
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Workforce Scheduling
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Time and Attendance Management
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Workforce Analytics
6.5.1 Market Trends
6.5.2 Market Forecast
6.6 Others
6.6.1 Market Trends
6.6.2 Market Forecast
7 Market Breakup by Service
7.1 Implementation Services
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Support and Maintenance Services
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Training and Education Services
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Deployment Type
8.1 Cloud-based
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 On-premises
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Organization Size
9.1 Small and Medium-sized Enterprises (SMEs)
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Large Enterprises
9.2.1 Market Trends
9.2.2 Market Forecast
10 Market Breakup by Vertical
10.1 Government and Defense
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Banking, Financial Services, and Insurance (BFSI)
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 Healthcare
10.3.1 Market Trends
10.3.2 Market Forecast
10.4 Transportation and Logistics
10.4.1 Market Trends
10.4.2 Market Forecast
10.5 Telecom and IT
10.5.1 Market Trends
10.5.2 Market Forecast
10.6 Consumer Goods and Retail
10.6.1 Market Trends
10.6.2 Market Forecast
10.7 Manufacturing
10.7.1 Market Trends
10.7.2 Market Forecast
10.8 Energy and Utilities
10.8.1 Market Trends
10.8.2 Market Forecast
10.9 Others
10.9.1 Market Trends
10.9.2 Market Forecast
11 Market Breakup by Region
11.1 North America
11.1.1 United States
11.1.1.1 Market Trends
11.1.1.2 Market Forecast
11.1.2 Canada
11.1.2.1 Market Trends
11.1.2.2 Market Forecast
11.2 Asia Pacific
11.2.1 China
11.2.1.1 Market Trends
11.2.1.2 Market Forecast
11.2.2 Japan
11.2.2.1 Market Trends
11.2.2.2 Market Forecast
11.2.3 India
11.2.3.1 Market Trends
11.2.3.2 Market Forecast
11.2.4 South Korea
11.2.4.1 Market Trends
11.2.4.2 Market Forecast
11.2.5 Australia
11.2.5.1 Market Trends
11.2.5.2 Market Forecast
11.2.6 Indonesia
11.2.6.1 Market Trends
11.2.6.2 Market Forecast
11.2.7 Others
11.2.7.1 Market Trends
11.2.7.2 Market Forecast
11.3 Europe
11.3.1 Germany
11.3.1.1 Market Trends
11.3.1.2 Market Forecast
11.3.2 France
11.3.2.1 Market Trends
11.3.2.2 Market Forecast
11.3.3 United Kingdom
11.3.3.1 Market Trends
11.3.3.2 Market Forecast
11.3.4 Italy
11.3.4.1 Market Trends
11.3.4.2 Market Forecast
11.3.5 Spain
11.3.5.1 Market Trends
11.3.5.2 Market Forecast
11.3.6 Russia
11.3.6.1 Market Trends
11.3.6.2 Market Forecast
11.3.7 Others
11.3.7.1 Market Trends
11.3.7.2 Market Forecast
11.4 Latin America
11.4.1 Brazil
11.4.1.1 Market Trends
11.4.1.2 Market Forecast
11.4.2 Mexico
11.4.2.1 Market Trends
11.4.2.2 Market Forecast
11.4.3 Others
11.4.3.1 Market Trends
11.4.3.2 Market Forecast
11.5 Middle East and Africa
11.5.1 Market Trends
11.5.2 Market Breakup by Country
11.5.3 Market Forecast
12 SWOT Analysis
12.1 Overview
12.2 Strengths
12.3 Weaknesses
12.4 Opportunities
12.5 Threats
13 Value Chain Analysis
14 Porters Five Forces Analysis
14.1 Overview
14.2 Bargaining Power of Buyers
14.3 Bargaining Power of Suppliers
14.4 Degree of Competition
14.5 Threat of New Entrants
14.6 Threat of Substitutes
15 Price Indicators
16 Competitive Landscape
16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
16.3.1 ADP
16.3.1.1 Company Overview
16.3.1.2 Product Portfolio
16.3.1.3 Financials
16.3.1.4 SWOT Analysis
16.3.2 Atoss Software AG
16.3.2.1 Company Overview
16.3.2.2 Product Portfolio
16.3.2.3 Financials
16.3.3 HotSchedules Inc.
16.3.3.1 Company Overview
16.3.3.2 Product Portfolio
16.3.4 Huntington Business Systems
16.3.4.1 Company Overview
16.3.4.2 Product Portfolio
16.3.5 IBM
16.3.5.1 Company Overview
16.3.5.2 Product Portfolio
16.3.5.3 Financials
16.3.5.4 SWOT Analysis
16.3.6 Kronos Inc.
16.3.6.1 Company Overview
16.3.6.2 Product Portfolio
16.3.7 Oracle Corporation
16.3.7.1 Company Overview
16.3.7.2 Product Portfolio
16.3.7.3 Financials
16.3.7.4 SWOT Analysis
16.3.8 Reflexis Systems
16.3.8.1 Company Overview
16.3.8.2 Product Portfolio
16.3.9 SAP SE
16.3.9.1 Company Overview
16.3.9.2 Product Portfolio
16.3.9.3 Financials
16.3.9.4 SWOT Analysis
16.3.10 Ultimate Software Group Inc.
16.3.10.1 Company Overview
16.3.10.2 Product Portfolio
16.3.10.3 SWOT Analysis
16.3.11 Verint Systems
16.3.11.1 Company Overview
16.3.11.2 Product Portfolio
16.3.11.3 Financials
16.3.11.4 SWOT Analysis
16.3.12 Workday Inc.
16.3.12.1 Company Overview
16.3.12.2 Product Portfolio
16.3.12.3 Financials
16.3.12.4 SWOT Analysis
16.3.13 WorkForce Software LLC
16.3.13.1 Company Overview
16.3.13.2 Product Portfolio
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Global Workforce Management Market In accordance with the GMI Research report the Workforce Management Market will increase substantially over the forecast period.
This is because of the aggravating support to organisations to mechanise the process to enhance productiveness and efficiency as well as the rising demand to develop workforce.Request for a FREE Sample Report on Workforce Management MarketWorkforce Management Market DynamicsThe increasing tendency of BYOD (Bring Your Own Device) with the augmenting adoption of distant working and digital workplaces are the leading factors supplementing the growth of the global workforce management market.
In addition, the rapid modification of conventional solutions into sophisticated IT and technological solutions such as the internet of things and cloud-based solutions has further stimulated market growth.
Further, the increasing adoption of the software by SMEs to sustain and trace the workforce in order to accomplish a vigorous outcome is supplementing the market growth.
All this is predicted to supplement the Workforce Management Market Size.However, the insufficient consciousness concerned with the features of executing management solutions in an organization is hindering market growth.
Moreover, as per the Workforce Management Market Report, the rising agitation towards privacy and security concerning workforce data on the cloud will further restrain the market growth.Workforce Management Market Segmentation:Segmentation by TechnologySolid-State LasersGas LasersSemiconductor LasersSegmentation by ProcessFusion CuttingFlame CuttingSublimation CuttingSegmentation by ApplicationAutomotiveConsumer electronicsDefense and aerospaceIndustrialOthersSegmentation by Region:EuropeUnited KingdomGermanyFranceSpainRest of EuropeAsia PacificChinaJapanIndiaRest of APACNorth AmericaUnited States of AmericaCanadaRoWUAEBrazilSouth AfricaSaudi ArabiaAbout GMI ResearchGMI, a market research and consulting enterprise that provides business perception and reports to different organisations, which include several small, medium and large enterprises.
Workforce management market is utilized to optimize employee’s productivity, which ensures that all resources are working at the right time in the right place.
The workforce management typically comprises of forecasting, scheduling, skills management, intraday management, time keeping and attendance.
This helps the HR to efficiently manage the employees to enhance productivity of organization.
WFM effectively does fulfil the labour requirements and establishes & manages employee schedules to perform a specific task on a daily and hour-to-hour basis.
The workforce management introduces IoT and AI technologies to offer improved solutions for human resource management.
The cloud segment is booming in the global workforce management market due to advantages such as unlimited scalability, control and variety of applications.Some of the factors which are driving the market are increased demand of cloud-based platform and focus towards implementing the workforce management system by end users.Middle East & Africa workforce management market is projected to register a substantial CAGR in the forecast period of 2019 to 2026.This Middle East and Africa Workforce Management Market research report intensely analyses the potential of the market with respect to current scenario and the future prospects by considering several industry aspects of Cardinal Health industry.
Workforce Management Market Research Report- Forecast till 2024Market HighlightsRecognizing the kind of growth, the market is garnering currently, Market Research Future (MRFR) in its recently published study report, asserts that the global workforce management market will reach USD 9 Bn.
Throughout January and February, a majority of the companies continued their business operations on-premises.
The outbreak of the pandemic has caused a slowdown in the business, which might lead to recession and reduced IT spending.
Furthermore, it also caused many of the businesses to close down their doors leading to an increase in the national unemployment rate.
According to the US Bureau of Labor and Statistics, the increase in the unemployment rate during the COVID-19 pandemic is the largest over-the-month increase in the rate since January 1975.COVID-19 Analysis Report @ https://www.marketresearchfuture.com/report/covid-19-impact-workforce-management-marketSegmentation:The workforce management market is segmented into five key dynamics for the convenience of understanding;By Deployment Type: On-premises and On-Cloud.By Component: Solutions and Services among others.By End-User: BFSI, Healthcare, Retail and eCommerce, Manufacturing, Government, Telecommunications and IT, among others.By Organization size: SMEs and Large Enterprises.
By Region: North America, Europe, APAC and the Rest-of-the-World.The subsegment – SMEs holds the largest market share by Organization size, mainly due to its widened adoption of WFM solutions and technological transition.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/2388Regional AnalysisThe European region accounts for the leading market in the global workforce management.
According to IMARC Group’s latest report, titled “Workforce Management Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global workforce management market exhibited strong growth during 2015-2020.
Looking forward, the market is expected the to grow at a CAGR of around 14% during the forecast period (2021-2026).We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries.
It effectively forecasts labor requirements and manages staff schedules for accomplishing different tasks regularly.
It also helps in improving labor planning, lowering operational costs and providing better customer services.
As a result, workforce management software is utilized in the healthcare, and banking, financial services and insurance (BFSI) sectors, which are involved in high time-sensitive tasks.Request Free Sample Report: https://www.imarcgroup.com/workforce-management-market/requestsampleMarket TrendsOwing to the increasing focus on workforce optimization, organizations around the world are relying on WFM solutions to manage their time and avoid duplication of tasks.
This, in confluence with the increasing adoption of cloud-based solutions, is driving the global WFM market growth.
Workforce management market is utilized to optimize employee’s productivity, which ensures that all resources are working at the right time in the right place.
The workforce management typically comprises of forecasting, scheduling, skills management, intraday management, time keeping and attendance.
This helps the HR to efficiently manage the employees to enhance productivity of organization.
WFM effectively does fulfil the labour requirements and establishes & manages employee schedules to perform a specific task on a daily and hour-to-hour basis.
The workforce management introduces IoT and AI technologies to offer improved solutions for human resource management.
The cloud segment is booming in the global workforce management market due to advantages such as unlimited scalability, control and variety of applications.Middle East and Africa Workforce Management Market By Component (Solutions, Services), Organizations (Small and Medium Enterprises, Large Enterprise), Operating Systems (iOS, Android, Windows, Linux/Unix, Others), Deployment Model (On-Premises, Cloud), End User (Healthcare, Energy and Utilities Solutions, Transportation and Logistics, Manufacturing, Consumer Goods and Retail, Telecom and IT, Banking, Financial Services, and Insurance, Defence and Government, Automotive, Others), Country (South Africa, Rest of Middle East & Africa) – Industry Trends and Forecast to 2026Some of the factors which are driving the market are increased demand of cloud-based platform and focus towards implementing the workforce management system by end users.Middle East & Africa workforce management market is projected to register a substantial CAGR in the forecast period of 2019 to 2026.This Middle East and Africa Workforce Management Market research report intensely analyses the potential of the market with respect to current scenario and the future prospects by considering several industry aspects of Cardinal Health industry.
Workforce management market is utilized to optimize employee’s productivity, which ensures that all resources are working at the right time in the right place.
The workforce management typically comprises of forecasting, scheduling, skills management, intraday management, time keeping and attendance.
This helps the HR to efficiently manage the employees to enhance productivity of organization.
WFM effectively does fulfil the labour requirements and establishes & manages employee schedules to perform a specific task on a daily and hour-to-hour basis.
The workforce management introduces IoT and AI technologies to offer improved solutions for human resource management.
The cloud segment is booming in the global workforce management market due to advantages such as unlimited scalability, control and variety of applications.Some of the factors which are driving the market are increased demand of cloud-based platform and focus towards implementing the workforce management system by end users.Middle East & Africa workforce management market is projected to register a substantial CAGR in the forecast period of 2019 to 2026.This Middle East and Africa Workforce Management Market research report intensely analyses the potential of the market with respect to current scenario and the future prospects by considering several industry aspects of Cardinal Health industry.
