Workforce Management Software / Services Markets – Global Forecast to 2027
DUBLIN, October 07, 2021– (BUSINESS WIRE) – “Workforce Management Software Market, Forecast, Impact of COVID-19, Industry Trends, by Organization Size, Growth, Company Analysis” report has been added at ResearchAndMarkets.com offer.
The workforce management software market will reach US $ 10.64 billion by 2027, up from US $ 6.28 billion in 2020, with a CAGR of 7.82% in 2020-2027.
In the modern age, with advancements in technology, the growing popularity of workforce management solutions is becoming an increasingly important tool for business processes to centralize resource usage data and to better plan for business. future use.
Workforce Management Software (WFM) offers a set of integrated approaches that enable organizations to optimize the productivity of their employees, by effectively forecasting workforce needs and by creating and managing staff schedules to accomplish a specific task day to day and hour to hour. hourly basis.
In addition, the growing popularity of cloud-based solutions and the growing trend of AI and machine learning are major factors for the growing penetration of smart and connected devices and the growing focus on optimizing for workforce, thereby driving the growth of the WFM software market.
Based on type of deployment
The workforce management software market includes on-premise, cloud, and hybrid. The cloud holds the largest market share. Cloud-based solutions are automated and can provide self-service, reducing the load on labor-intensive tasks. In addition, the on-premise software market remains large, as medium and large enterprises maintain existing workforce management and back-office software until contracts expire and they have access to existing back-office software. ” a comprehensive digital transformation strategy.
In addition to the rapid adoption of workforce management in education, healthcare, retail, IT and telecommunications, BFSI, manufacturing and government, Reduced processing times, increased customer satisfaction and a high return on investment are factors that drive high growth. Major vendors are also focusing on strengthening their channel partner ecosystems to improve indirect sales and enhance business growth.
Regional Analysis Workforce Management Software Industry
North America is the leading region in the adoption of workforce management solutions and services by enabling work schedules, business processes, labor costs and workforce management. effective talents. In the United States, workforce management software is becoming increasingly important for organizations to keep their workforce motivated and organized to ensure peak productivity, which is vital throughout. keeping abreast of changes. Companies analyzed in the report include ADP INC, Huntington Business Systems, Kronos Incorporated, Nice Systems Ltd, and Oracle.
In addition, Europe is seeing significant investments in the deployment of workforce planning software, particularly in the healthcare, manufacturing, travel and transport and retail sectors. The growing deployment of cloud solutions is primarily driving the adoption of workforce management in Germany. Growing automation in German manufacturing is dramatically increasing the demand for workforce management solutions.
Impact of COVID-19 on the workforce management software industry
The COVID 19 pandemic has positively impacted the WFM software market, fostering digitization and automation in manufacturing sectors around the world. The lockdown and physical distancing warrants required to control the spread of COVID-19 have forced many organizations to let their employees work from home. WFH or remote workplace mandates show how important it is to have an online system to manage employees in real time and with accurate information.
Key players in the WFM software market
Market players such as ADP INC, Huntington Business Systems, Kronos Incorporated, Nice Systems Ltd and Oracle collaborate with key players, product innovation, acquisitions and partnerships, strengthening regional and global distribution networks. In 2021, NICE introduces NTR-X, a next-generation cloud-based compliance solution for omnichannel business records management.
Main topics covered:
2. Research methodology
3. Executive summary
4. Market dynamics
4.1 Growth drivers
5. Workforce Management Software Market
6. Market Share – Workforce Management Software Market
6.1 By organization size
6.2 By application
6.3 By deployment
6.4 By component
6.5 By region
7. Organization Size – Workforce Management Software Market
7.2 Small Medium
8. Application – Workforce Management Software Market Security Services
8.5 Retail e-commerce
8.6 IT Telecom
9. Type of Deployment – Workforce Management Software Market
9.1 On site
10. Component – Workforce Management Software Market
11. Region – Workforce Management Software Market
11.1 North America
11.5 Latin America
12. Business Analysis – Workforce Management Software Market
12.2 Corporate initiatives
12.3 Sales analysis
For more information on this report visit https://www.researchandmarkets.com/r/28viir
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211007005437/en/
Laura Wood, Senior Press Director
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