Emergen Research Logo
Rapid adoption of cloud-based workforce management solutions is a key factor driving workforce management market revenue growth
— Emergen Research
VANCOUVER, BC, CANADA, June 14, 2023/EINPresswire.com/ — The global workforce management market size was USD 6.66 Billion in 2021 and is expected to register a revenue CAGR of 9.7% during the forecast period, according to latest analysis by Emergen Research. Rising demand for workforce optimization and mobile applications is a key factor driving market revenue growth. Workforce management software offers provision of optimized schedule to prevent excessive overtime. In addition, industries employing combination of full-time employees, freelancers, and contract workers across multiple shifts and locations require accurate and efficient payroll management, which is another factor driving demand for workforce management solutions. Moreover, enabling of proper tracking of data insights for performance metrics and identification of gaps training is driving growth of the market. According to a research, top performers are 25% more likely to standardize data capture across channels, products, and units. Growing competitiveness has resulted in better utilization of resources and planning for effective decision-making and increased production. Rapid adoption of automation and cloud-based tools for proper tracking and easy access of information, which enable reduced operational and labor costs, in addition to being time-effective, are some of the major factors driving growth of the market.
The report delivers a deep understanding of the key aspects of the workforce management market, for instance, import and export dynamics, production and consumption rates, and consumer bases across the major market regions. Thus, the report concludes with the essential market statistics presented in a tabular format to help readers get a clear idea of the global market dynamics. This report is the latest document discussing the current economic situation gravely impacted by the COVID-19 outbreak in detail. The global health emergency has led to massive changes in the global economy and the workforce management business sphere. The current scenario of this ever-evolving business vertical has been clearly depicted in the report, which contains a broad analysis of the pandemic’s present and future effects.
Request a Sample Report with Table of Contents and Figures to click Here: @https://www.emergenresearch.com/request-sample/1110
Key Market Competitors Profiled in the Report:
Oracle, UKG Inc., SAP, Workforce Software, LLC., Workday, Inc., ADP, Inc., Ceridian HCM, Inc., ATOSS Software AG, Paylocity, and Visier, Inc
Some Key Highlights From the Report
The cloud segment accounted for largest revenue share in 2021. Rapid adoption of cloud-based technology, increasing implementation of AI and Internet of Things (IoT) as well rising need for automation with a central system are a few key factors driving revenue growth of this segment. Cloud workforce management enables well-structured collection and merging of company’s data onto a single central platform and allows easy access to employees for handling self-service processes, thereby closing gap between departments and saving time.
The large enterprises segment accounted for a significant revenue share in 2021. Cost-effectiveness, reduced risks, and quality issues associated with workforce performance, as well as provision of consistent operations are some of the key factors driving revenue growth of segment. Most workforce-driven industries are facing a shortage of labor along with low employee retention and high rates of turnover, which is increasing demand for workforce management solutions in this segment.
The time and attendance management segment accounted for a significant revenue share in 2021. Rapid adoption of automation tools, reduce labor costs, simplified compliance, easy tracking, and improved organizational efficiency are some of the factors driving revenue growth of segment. Time and attendance software offer an automated and online approach for monitoring and tracking employee’s work hours, which will allow insights into areas where productivity is low, thereby helping in identifying the cause of such low productivity.
The telecom and IT segment accounted for a significant revenue share in 2021 owing to having comparatively largest workforce. High demand for process optimization, cost optimization, and productivity is leading telecom businesses to focus on utilization of effective labor based on a skill set, which is one of the key factors driving revenue growth of this segment.
On 12 October 2021, Priority Software Ltd., which is a leading global provider of business management solutions acquired Ovdimnet which is a market-leading Israel-based provider of AttenIX-TS, an advanced cloud-based Time & Attendance software for workforce management. This acquisition is expected to broaden Priority’s offering to global enterprise customers in various sectors, such as professional services and retail, as well as companies with complex organizational structures and multi-branch operations. Moreover, it would enable penetration to a new customer base and new markets, which will facilitate growth in both companies, while maintaining product quality and continued high-level support and service.
For More Details On this Report Click Here @https://www.emergenresearch.com/industry-report/workforce-management-market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2020 and 2028. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Workforce Management market on the basis of product, application, and region:
Emergen Research has segmented the global workforce management market based on component, deployment, organization size, application, end-use, and region:
Component Outlook (Revenue, USD Billion; 2019-2030)
Services
Software
Deployment Outlook (Revenue, USD Billion; 2019-2030)
On-premise
Cloud
Organization Size Outlook (Revenue, USD Billion; 2019-2030)
Large enterprises
Small and Medium Enterprises
Regional Analysis of the Workforce Management Market:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
To Customized Report Market: @https://www.emergenresearch.com/request-for-customization/1110
Key Objectives of the Report:
Analysis and estimation of the Workforce Management market size and share for the projected period of 20222030
Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape
Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Workforce Management market
Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities
Click Here To Buy Now @https://www.emergenresearch.com/select-license/1110
Thank you for reading the report. The report can be customized as per the requirements of the clients. For further information or query about customization, please reach out to us, and we will offer you the report best suited for your needs.
View Additional Related Reports:
Therapeutic Ultrasound Market
https://www.emergenresearch.com/industry-report/therapeutic-ultrasound-market
Healthcare Technology Management Market
https://www.emergenresearch.com/industry-report/healthcare-technology-management-market
Insulin Delivery Market
https://www.emergenresearch.com/industry-report/insulin-delivery-market
Medical Ceramics Market
https://www.emergenresearch.com/industry-report/medical-ceramics-market
Vulvovaginal Candidiasis Market
https://www.emergenresearch.com/industry-report/vulvovaginal-candidiasis-market
Aircraft Gearbox Market
https://www.emergenresearch.com/industry-report/aircraft-gearbox-market
Medical Waste Management Market
https://www.emergenresearch.com/industry-report/medical-waste-management-market
Optometry Equipment Market
https://www.emergenresearch.com/industry-report/optometry-equipment-market
Immunoassay Market
https://www.emergenresearch.com/industry-report/immunoassay-market
Seaweed Fabric Market
https://www.emergenresearch.com/industry-report/seaweed-fabric-market
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Eric Lee
Emergen Research
+91 90210 91709
sales@emergenresearch.com
Visit us on social media:
Facebook
Twitter
LinkedIn
