Workforce Management Market: Global Industry Analysis and Forecast (2024-2030)

The Workforce Management Market size was valued at USD 8.96 Billion in 2023 and the total Workforce Management revenue is expected to grow at a CAGR of 9.12% from 2024 to 2030, reaching nearly USD 16.52 Billion.

Workforce Management Market Overview:

Workforce management is a multifaceted technology that has enabled significant changes and generated significant paybacks in terms of revenue and convenience of use, and it is still evolving today. The growing use of mobile devices is expected to have a significant impact on the sector, as many businesses have expressed an interest in improving their mobile capabilities soon. Furthermore, as enterprises throughout the world embrace digital monitoring at a rapid rate, demand for absence and leave management solutions is expected to rise. Workforce Management Market 2024-2030To know about the Research Methodology :- Request Free Sample Report

Workforce Management Market Dynamics:

The general demand for workforce management solutions is increasing, resistance to change and training staff to adapt to new technology may operate as roadblocks for a few years. The focus of management solutions in HR is evolving from administration to planning and analysis, with data gathering and analytical tools being the primary development focus. As the business evolves, higher integration of big data and mobility into mainstream solutions is expected to influence the market. Increased usage of advanced technologies such as artificial intelligence is a key market growth driver for workforce management. The demand for workforce management is expected to increase by the growing demand for the internet of things by small and medium-sized businesses, and the emergence of remote workforce solutions. The workforce management market is expected to show more lucrative growth opportunities as smartphone usage increases around the globe and organizations place a greater emphasis on human resource analytics. However, a lack of awareness regarding workforce management is expected to act as a growth restraint for the market. The lack of advanced infrastructure in developing economies is expected to slow the market's growth rate during the forecast period.

Workforce Management Market Segment Analysis:

Based on the Organisation Size, the Workforce Management Market is segmented into SMEs and Large Enterprises. The SMEs segment held the largest market share of xx% and SMEs segment was valued at US$ 3.64 billion in 2023. The SMEs are increasing, thanks to the growing demand for lower costs in the employee performance management process, enhanced employee engagement and productivity, data-driven insights for organizational performance, and the future scalability potential of small and medium-sized enterprises (SMEs). These factors are expected to grow this segment during the forecast period. Based on the Deployment, the Workforce Management Market is segmented into Cloud and On-premise. The Cloud segment size valued at US $ 3.78 billion in 2023. Many business leaders are turning to Cloud-based workforce management and they want an all-in-one solution that includes services such as Salesforce, inbound marketing software, marketing automation software, workforce management software, and business analytical tools to gain insights into commercial, operational, and financial aspects. As a result, a workforce management market opportunity emerges in cloud-based workforce software management, which helps enterprises save time by automating traditionally labor-intensive operations.

Workforce Management Market Regional Insights:

North America region held the largest market share accounting for 41% in 2023. The fastest growth in this region is attributed to the growing adoption of workforce management software and solutions by various end-users such as retail, IT, BFSI, and other industries. North American countries like the United States and Canada are early adopters of new technology, and demand for cutting-edge technologies like AI, machine learning, and cloud computing has been encouraged the growth. Furthermore, global work management service providers are present in the region, which is expected to enhance the market in North America. Asia Pacific region is expected to witness significant growth at a CAGR of 9.81% during the forecast period. The implementation of labor laws and regulations in countries like India and China is fueling the market growth in this region. Increased workforce employment as a result of increased industrialization, technological improvements, and rising demand for cloud-based solutions is expected to create numerous attractive opportunities for the Asia Pacific market. The objective of the report is to present a comprehensive analysis of the Trampoline Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Trampoline Market dynamic, structure by analyzing the market segments and projecting the Trampoline Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Workforce Management Market make the report investor’s guide.

Workforce Management Market Scope: Inquire before buying

Workforce Management Market
Report Coverage Details
Base Year: 2023 Forecast Period: 2024-2030
Historical Data: 2018 to 2023 Market Size in 2023: USD 8.96 Bn.
Forecast Period 2024 to 2030 CAGR: 9.12% Market Size in 2030: USD 16.52 Bn.
Segments Covered: by Solutions Time and Attendance Management Leave and Absence Management Performance Management Workforce Scheduling Workforce Analytics Others
by Deployment Cloud On-premise
by Organisation Size SMEs Large Enterprises
by End-User BFSI IT and Telecom Retail Manufacturing Healthcare Transportation and Logistics Others

Workforce Management Market, by Region

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)

Workforce Management Market Key Players are:

1. Oracle 2. Kronos 3. ADP 4. SAP 5. Ultimate Software 6. WorkForce Software 7. IBM 8. Workday 9. Ceridian 10.Verint 11.Reflexis Systems 12.ATOSS 13.NICE 14.SumTotal 15.Infor 16.Meta4 17.Ramco Systems 18.TimeClock Plus 19.Replicon 20.Mark Information 21.Automatic Data Processing LLC 22.Huntington Business Systems 23.Anaplan 24.Epicor 25.Sage

Frequently Asked Questions:

1] What segments are covered in the market report? Ans. The segments covered in the market report are based on Solutions, Deployment, Organisation Size, and End-User. 2] Which region is expected to held the highest share in the market? Ans. The North America region is expected to held the highest share in the market. 3] What is the market size of the Workforce Management Market by 2030? Ans. The market size of the Workforce Management Market by 2030 is USD 16.52 Bn. 4] What is the forecast period for the Workforce Management Market? Ans. The Forecast period for the Workforce Management Market is 2023-2029. 5] What was the Global Workforce Management Market size in 2023? Ans. The Global Workforce Management Market size was USD 8.96 Billion in 2023..
1. Global Workforce Management Market Size: Research Methodology 2. Global Workforce Management Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Workforce Management Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Workforce Management Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Global Workforce Management Market Size Segmentation 4.1. Global Workforce Management Market Size, by Solutions (2023-2030) • Time and Attendance Management • Leave and Absence Management • Performance Management • Workforce Scheduling • Workforce Analytics • Others 4.2. Global Workforce Management Market Size, by Deployment (2023-2030) • Cloud • On-premise 4.3. Global Workforce Management Market Size, by Organisation Size (2023-2030) • SMEs • Large Enterprises 4.4. Global Workforce Management Market Size, by End-User (2023-2030) • BFSI • IT and Telecom • Retail • Manufacturing • Healthcare • Transportation and Logistics • Others 5. North America Workforce Management Market (2023-2030) 5.1. Global Workforce Management Market Size, by Solutions (2023-2030) • Time and Attendance Management • Leave and Absence Management • Performance Management • Workforce Scheduling • Workforce Analytics • Others 5.2. Global Workforce Management Market Size, by Deployment (2023-2030) • Cloud • On-premise 5.3. Global Workforce Management Market Size, by Organisation Size (2023-2030) • SMEs • Large Enterprises 5.4. Global Workforce Management Market Size, by End-User (2023-2030) • BFSI • IT and Telecom • Retail • Manufacturing • Healthcare • Transportation and Logistics • Others 5.5. North America Workforce Management Market, by Country (2023-2030) • United States • Canada • Mexico 6. European Workforce Management Market (2023-2030) 6.1. European Workforce Management Market, By Solutions (2023-2030) 6.2. European Workforce Management Market, by Deployment (2023-2030) 6.3. Global Workforce Management Market Size, by Organisation Size (2023-2030) 6.4. Global Workforce Management Market Size, by End-User (2023-2030) 6.5. European Workforce Management Market, by Country (2023-2030) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Workforce Management Market (2023-2030) 7.1. Asia Pacific Workforce Management Market, By Solutions (2023-2030) 7.2. Asia Pacific Workforce Management Market, by Deployment (2023-2030) 7.3. Global Workforce Management Market Size, by Organisation Size (2023-2030) 7.4. Global Workforce Management Market Size, by End-User (2023-2030) 7.5. Asia Pacific Workforce Management Market, by Country (2023-2030) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. The Middle East and Africa Workforce Management Market (2023-2030) 8.1. The Middle East and Africa Workforce Management Market, By Solutions (2023-2030) 8.2. The Middle East and Africa Workforce Management Market, by Deployment (2023-2030) 8.3. Global Workforce Management Market Size, by Organisation Size (2023-2030) 8.4. Global Workforce Management Market Size, by End-User (2023-2030) 8.5. The Middle East and Africa Workforce Management Market, by Country (2023-2030) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Workforce Management Market (2023-2030) 9.1. Latin America Workforce Management Market, By Solutions (2023-2030) 9.2. Latin America Workforce Management Market, by Deployment (2023-2030) 9.3. Global Workforce Management Market Size, by Organisation Size (2023-2030) 9.4. Global Workforce Management Market Size, by End-User (2023-2030) 9.5. Latin America Workforce Management Market, by Country (2023-2030) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. Oracle 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Kronos 10.3. ADP 10.4. SAP 10.5. Ultimate Software 10.6. WorkForce Software 10.7. IBM 10.8. Workday 10.9. Ceridian 10.10. Verint 10.11. Reflexis Systems 10.12. ATOSS 10.13. NICE 10.14. SumTotal 10.15. Infor 10.16. Meta4 10.17. Ramco Systems 10.18. TimeClock Plus 10.19. Replicon 10.20. Mark Information 10.21. Automatic Data Processing LLC 10.22. Huntington Business Systems 10.23. Anaplan 10.24. Epicor 10.25. Sage
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