Market Highlights
The increase in digital tech solutions support is expected to bolster the expansion of the worldwide workforce management market in the years to come. The growing applications of mobile gadgets for business purpose, especially in the pandemic, is observed is creating growth prospects from the workforce management. This is likely to support the expansion of the workforce management market in the years to come. The high installation of cloud across multiple organizations is simplifying proceedings of workforce management solutions, which can contribute to the rise of the market in the years ahead. The workforce management market is expected to thrive as process in workforce management solutions are automated. The increased demand for automated solutions can support the rise of the market in years ahead. The rise in the application of workforce management solutions in cash-rich industries, such as IT and telecom field can impact the rise of the market in the years ahead.
Market Research Future (MRFR) states that the global workforce management market can rise at 18.75% CAGR in the review period 2020–2026. The workforce management market is expected to value at USD 18.828.9 million from USD 6,164.36 Mn across 2020–2026.
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Regional Study
As per MRFR regional assessment, the workforce management market is studied across North America, EU, and APAC. Other regions that are analysed for the workforce management market are the Middle East & Africa, and South America. North America workforce management market is expected to garner the largest share in the evaluation period and the US is expected to spearhead the regional market, followed by Canada. In the US, the rise of the workforce management market can be attributed to rapid advances digital technologies. In addition, the region is known to house different players that are expected to churn decent revenue for the market in the region. The presence of early adopters of workforce management solutions as number of start-ups rise is expected to support the expansion of the workforce management market across the years to come. The rise in mobile ingression and the high adoption of cloud-enabled solutions by a high number of organizations can be responsible for the surge of the regional market. In Asia Pacific, the expansion of the workforce management market across 2020 to 2026 can be credited to availability of a high opportunities for generating considerable revenue for growth. The increased preference for automation of workforce management process can also support the expansion of the workforce management solutions in the years to come.
Segmentation:
The segment assessment of the workforce management market is done by component, vertical, deployment, and organization size. The component based segments of the workforce management systems market are services and solutions. The deployment based segment of the workforce management market are cloud deployment solutions and on-premise deployment solutions. Among these, the later is expected to observe a surge in the forecast period. The organization size based segment of the global workforce management market are large enterprises and small & medium enterprises. The industry vertical based segments of the workforce management market are energy and utility BFSI, IT and telecommunication; manufacturing; government and defense; retail; and healthcare and others.
Prominent Players
IBM Corporation, ADP LLC, SAP SE, Kronos Incorporated, Reflexis Systems, Inc., Zoho Corporation, Ultimate Software, Ceridian HCM Holding, Inc., ATOSS Software AG, Workday, Inc., VERINT, Workforce Software, Huntington Business Systems, and SumTotal Systems are some reputed names in the Workforce Management Market that are listed by MRFR. Different strategies are adopted by Key players to earn global foothold.
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Workforce Management Market Research Report: By Component (Services and Solutions), By Deployment (Cloud-Based and On-Premise), By Organization Size (Small and Medium Enterprises and Large Enterprises), By Vertical (BFSI, IT and Telecommunication, Energy and Utility, Manufacturing, Retail, Healthcare, Government and Defense and Others) and Region (North America, Europe, Asia-Pacific, Rest of the World) - Forecast till 2026
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