The growing requirement to make informed decisions among enterprises is a significant factor for the growth of the Workforce Management market across the globe. The increasing need for unified and connected enterprise and an integrated workforce management system spread across diverse locations, is predicted to enhance the demand across various end-user industries are creating lucrative opportunities for the workforce management market in the forecast period.
MARKET SCOPE
The "Global Workforce Management Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the workforce management market with detailed market segmentation by component, deployment mode, organization size, industry vertical, and geography. The report provides key statistics on the market status of the leading workforce management market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on component, the global workforce management market is segmented into solutions and services.
- On the basis of deployment mode, the market is segmented into cloud and on-premises.
- Based on organization size, the market is segmented into small and medium enterprise (SME) and large enterprise.
- Based on industry vertical, the market is segmented into BFSI, telecom, government, consumer goods and retail, manufacturing, energy and utilities, transportation and logistics, healthcare, and others.
MARKET DYNAMICS
Drivers:
- The rising adoption of cloud-based workforce management solutions and increasing demand for workforce optimization and mobile applications are driving the growth of the workforce management market.
- The mounting adoption of workforce management solutions by SMEs is anticipated to create market opportunities for the Workforce management market during the forecast period.
Restraints:
- The privacy and security concerns related to workforce data deployed on the cloud may restrain the growth of the Workforce management market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The workforce management market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the workforce management market in these regions.
IMPACT OF COVID-19 ON WORKFORCE MANAGEMENT MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the workforce management market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from workforce management market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the workforce management market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ADP, LLC
- Ceridian HCM, Inc.
- IBM Corporation
- Kronos Inc.
- Reflexis Systems, Inc.
- SAP SE
- Ultimate Software Group, Inc.
- Verint Systems
- Workday, Inc.
- WorkForce Software, LLC