U.S. markets close in 2 hours 12 minutes
  • S&P 500

    4,667.12
    +72.50 (+1.58%)
     
  • Dow 30

    35,217.57
    +318.23 (+0.91%)
     
  • Nasdaq

    15,809.77
    +318.12 (+2.05%)
     
  • Russell 2000

    2,262.04
    +16.10 (+0.72%)
     
  • Crude Oil

    71.00
    +2.85 (+4.18%)
     
  • Gold

    1,785.60
    -2.50 (-0.14%)
     
  • Silver

    22.88
    -0.26 (-1.12%)
     
  • EUR/USD

    1.1271
    -0.0048 (-0.43%)
     
  • 10-Yr Bond

    1.5260
    +0.0440 (+2.97%)
     
  • GBP/USD

    1.3297
    -0.0041 (-0.31%)
     
  • USD/JPY

    113.7490
    +0.4390 (+0.39%)
     
  • BTC-USD

    58,678.76
    +4,764.37 (+8.84%)
     
  • CMC Crypto 200

    1,467.86
    +38.93 (+2.72%)
     
  • FTSE 100

    7,109.95
    +65.92 (+0.94%)
     
  • Nikkei 225

    28,283.92
    -467.70 (-1.63%)
     

Workforce Management Software/Services Markets - Global Forecast to 2027 - ResearchAndMarkets.com

·4 min read

DUBLIN, October 07, 2021--(BUSINESS WIRE)--The "Workforce Management Software Market, Forecast, Impact of COVID-19, Industry Trends, by Organization Size, Growth, Company Analysis" report has been added to ResearchAndMarkets.com's offering.

The Workforce Management Software Market will reach US$ 10.64 Billion by 2027 from US$ 6.28 Billion in 2020, growing with a CAGR of 7.82% during 2020-2027.

In the modern era, with the advancement in technology, the growing popularity of workforce management solutions becomes an increasingly important tool for business processes to centralize resource usage data and better plan future utilization.

Workforce Management (WFM) software offers a set of integrated approaches that enable organizations to optimize their employees' productivity, by effectively forecasting labor requirements and creating & managing staff schedules to accomplish a specific task on a day-to-day and hour-to-hour basis.

Further, the increasing popularity of cloud-based solutions and the Growing Trend of AI and Machine Learning are major driving factors for the expanding penetration of smart and connected devices and the growing focus on workforce optimization, thus driving WFM software market growth.

Based on Deployment Type

The Workforce Management software market includes On-Premise, Cloud and Hybrid. Cloud holds the largest market share. Cloud-based solutions are automated and can provide self-service, which reduces the load of labor-intensive tasks. In addition, the on-premise software market remains important as medium-sized and large enterprises maintain workforce management and existing back-office software until contracts run out and they have an entire digital transformation strategy.

Besides rapid adoption of workforce management in the Education, Healthcare, Retail, IT & Telecom, BFSI, Manufacturing and Government industries, reduced process times, increased customer satisfaction, and a high return on investment are factors supporting high growth. Key vendors also focus on strengthening their channel partner ecosystems to improve indirect sales for enhanced business growth.

Regional Analysis Workforce Management Software Industry

North America is the leading region in adopting workforce management solutions and services by enabling effective work schedules, business processes, labor costs, and talent management. In the US, Workforce Management software is becoming increasingly important for organizations to keep their workforce motivated and organized to ensure optimal productivity, which is vital while keeping abreast of changing times. Companies analyzed in the report include ADP INC, Huntington Business Systems, Kronos Incorporated, Nice Systems Ltd, and Oracle.

Moreover, Europe is witnessing significant investment in the deployment of workforce scheduling software, especially in the healthcare, Manufacturing, Travel & Transport, and Retail sectors. The increasing deployment of cloud solutions primarily drives workforce management adoption in Germany. Increasing automation across Germany's manufacturing sector is significantly increasing demand for workforce management solutions.

Impact of COVID-19 on Workforce Management Software Industry

COVID 19 pandemic has positively impacted the WFM software market, fostering digitization and automation across the manufacturing sectors globally. The lockdown and physical distancing mandates required to control the COVID-19 spread forced many organizations to let their employees work from home. WFH or remote work location mandates show how important it is to have an online system to manage employees in real-time and accurate information.

Key Players of 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, Next Generation Cloud-Based Compliance Solution for Omnichannel Trade Recording Management.

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Dynamics

4.1 Growth Drivers

4.2 Challenges

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

7.1 Large

7.2 Small Medium

8. Application - Workforce Management Software Market Security Services

8.1 BFSI

8.2 Manufacturing

8.3 Healthcare

8.4 Government

8.5 Retail Ecommerce

8.6 IT Telecom

8.7 Education

8.8 Others

9. Deployment Type - Workforce Management Software Market

9.1 On-Premise

9.2 Cloud

9.3 Hybrid

10. Component - Workforce Management Software Market

10.1 Software

10.2 Services

11. Region - Workforce Management Software Market

11.1 North America

11.2 Europe

11.3 APAC

11.4 MEA

11.5 Latin America

12. Company Analysis - Workforce Management Software Market

12.1 Overview

12.2 Company Initiatives

12.3 Sales Analysis

  • ADP INC

  • Huntington Business Systems

  • Kronos Incorporated

  • Nice Systems Ltd

  • Oracle

For more information about this report visit https://www.researchandmarkets.com/r/28viir

View source version on businesswire.com: https://www.businesswire.com/news/home/20211007005437/en/

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900