Market Highlights

Workforce management may be a software tool utilized in managing the schedules of workers, labor requirements, and maintenance of schedules on a day to day. The set of processes can improve the productivity of employees. The worldwide workforce management market report by marketing research Future (MRFR) dives into the industry for up to date upgrades in software, adherence to latest labor laws, and other niche trends for the amount of 2020 to 2026 (forecast period). The COVID-19 outbreak and its impact are included as an important catalyst within the report.

The Workforce Management market size is predicted to grow from USD 6,394.4 million in 2020 to 14.31 billion by 2027, growing at a compound annual growth rate (CAGR) of 9.2% during the study period.

Competitive Analysis

The key market players operating within the global workforce management market report include Oracle Corporation (U.S.), IBM Corporation (U.S.), KRONOS (U.S.), Workforce Software (U.S.), WORKDAY (U.S.), ADP LLC (U.S.), SAP AG (Europe), Infor Global Solution (India), ClickSoftware (U.S.), etc.

The global workforce management market features a highly competitive scenario. Therefore, the market players are raising their investments towards research and development projects, and marketing activities to take care of their position within the market over the review period. Furthermore, there's an expected rise in mergers, acquisitions, strategic business partnerships, and joint ventures, to uphold the competitive nature of the market within the foreseeable future.

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Drivers and Restraints

Various end use industries and businesses have started adopting and employing workflow management techniques for enhancing their operational efficiency. Thus, the growing demand of the system has created a gentle competitive landscape over technological innovations in product offerings. The positive competitiveness is probably going to impact the expansion of the worldwide workflow management system market over the review period.

The system is therefore wont to reduce labor expenses, business performance, improve workforce utilization, increased focus, and work optimization, and mobile applications. These also are considered as key driving factors contributing to the expansion of the workforce management market substantially. By employing the system, this enables organizations to ease intricate processes on the workforce and warrant better usage of existing resources.

Moreover, the workforce management system helps managers to forecast staffing requirements accurately. Increased specialise in controlled workforce has initiated the expansion of the worldwide workforce management market steadily.

On the opposite side, the increasing adoption of mobile devices also plays an important role in market growth as many companies have involved mobiles in catering the requirements in enhancing capabilities.

Segment Overview

The international requirement of the Workforce Management market is mainly divided into 5 different segments. this segmentation is discussed in detail below along with its sub-segments.

By Components

Services
Others
By Type

Labor Forecast and Scheduling
HR Management
Task Management
Workforce Analytics
Attendance and Time Management
By Deployment

On-Cloud
On-Premise
By Verticals

Health
Retail
BFSI
Manufacturing
Government and Defense
Energy and Utilities
IT and Telecommunication
Transportation and Logistics
Others
By Organization size

Large
Medium and small
Report Overview

This research report depicts a comprehensive and detailed analysis of the Workforce Management Market trends. Under this report, the ultimate growth with its values is estimated for the forecast period from 2021 to 2026. Moreover, the other factors that are covered in this report are market dynamics, value analysis, competitive key players, market segmentation overview, and recent developments. Indeed, the report is all made up of primary and secondary that helps in the global market growth.

Report Detail

Historic Period: 2016-2021
Base Year: 2021
Forecast Period: 2021-2026
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