Global Workforce Management Market Research Report- Forecast till 2024
The Global market of workforce management is anticipated to reach growth at CAGR of 10.8% for the research period. The employee productivity of an organization can be increased with the perfect workforce management solution. This is a flawless solution that comforts the organizations to assure the availability of all human workforces at right place and at the right time. A workforce management system performs various features containing including work scheduling, performance management, time tracking, workforce budgeting, analytics, and forecasting. These solutions are available either on enterprise premises or over the cloud. This can be incorporated with other enterprise resource strategy solutions or other collaboration tools. The service providers of workforce management solutions are also providing the customization of dashboards as per user requirements.
The global market of workforce management is driven by the rising adoption of automation among large organizations as well as small-and medium sized enterprises (SMEs). The SMEs are leveraging this workforce management system to manage their employees effectively. Major market players in the market are opting modern artificial intelligence and machine learning technique to upscale their workforce management solutions. The advanced technology based workforce management solutions such as AI, analytics, and cloud computing is becoming popular in today’s highly competitive world. Furthermore, the increasing use of mobile phones and adoption of cloud-based solutions across enterprises are also some of factors driving market growth.
The regional market of the global workforce management spans across Asia-Pacific, North America, Europe, and the Middle East & Africa, and South America.
North America has largest market share in the workforce management market among others. The regional market has been further categorized into the US, Canada, and Mexico. However, the US dominated the workforce management market in 2018, followed by Canada and Mexico. Moreover, the factors causing market growth are the advancements in digital technologies and the presence of early adopters in the region.
The second large market share of workforce management is held by Europe in 2018. Europe has been segmented into the UK, Germany, France, and the rest of Europe as reported by MRFR. Germany is one of the preeminent markets of workforce management solution, having the presence of major players in the field of semiconductors, power electronics, and information and communication technology (ICT).
The global market of workforce management solutions is segmented by deployment modes, by organization size, by verticals, and by region. Based on deployment technique the market is divided into on premise and cloud. By organization size type the market is categorized into small and medium enterprise and large enterprise.
Based on Verticals, the global workforce management market is segmented into BFSI, IT and Telecommunication, Energy and Utility, Manufacturing, Retail, Transportation and Logistics, Healthcare, Government and defense and others. By region the market is segmented as Asia-Pacific, North America, Europe, and the Middle East & Africa, and South America.
The companies covered in the research report of Global Workforce Management Market are IBM Corporation, Oracle Corporation, SAP SE, Kronos Incorporated, ADP, LLC, Reflexis Systems, Inc., ATOSS Software AG, Ultimate Software, Workday, Inc., Verint Systems Inc., Workforce Software LLC, and Huntington Business Systems.
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