Global Workforce Management Software Market:
The global workforce management software market is expected to be valued at US$ 9,20.8 million in market and growing at a CAGR of 8.4 % over the forecast period by 2026. There are significant internal and external factors which act as the key drivers; technology advancement, customer needs and high employment rate where the retail sector has to focus on employee training, time and attendance, labor analytics, forecasting and schedule optimization have been solved by global workforce management software market. High cost of the software, unawareness of the innovative technology can be considered as a key hung which cause the restrain towards the global workforce management software market. Profound adaptation of digitalization, sustain increase in business enterprises and various other economic development open up a numerous opportunity for the global workforce management software market to conquer.
Gaining Prominence of the Cloud Based Applicant Tracking Software:
It is noticed that the global workforce management software market has a significant growth rate on perspective with gaining prominence of the cloud-based applicant tracking software market. Promoting the plan of shared infrastructure model is done with respect to the software licenses, electricity, maintenance fees, eliminating the cost of servers and other storage devices, consultant fees, data center space, and IT personnel. Hence contributing towards are high revenue towards the global workforce management software market.
North America dominates the market share in the Global Market:
North America contributed major revenue followed by Europe and Asia Pacific. In 2019, North America region accounted huge growth rate and is anticipated to grow with forecast year. For instance, North America dominates the market in terms of technology advancement which include adoption of Artificial Intelligence (AI), Machine Learning (ML), and cloud adoption which considerably boost the global workforce management software market. Moreover, Europe and Asia Pacific (APAC) regions are expected to be the fastest-growing regions in the market, due to the growing need for intelligent workforce management software and the increase in number of market players and various policies and financial aid from both the sector. These factors help significantly in boosting the global market.
Key player’s profiles in the global market include:
- Ultimate Software
- WorkForce Software
- Reflexis Systems
- Ramco Systems
- TimeClock Plus
- Mark Information.
- Market players have witnessed the strategic collaboration and acquisition to expand product portfolio and strengthen their position in the market to enhance the revenue of the company.
- In January 2019, the company’s cloud suite, Workforce Dimensions will streamline operational execution for retail, hospitality, and food services. The AI engine, Artificial Intelligence for Managers and Employees (AIMEE) will advance the labor volume forecasting in the workforce dimension.
- In November 2019, Verint announced the release of a new Workforce Management solution. It offers flexible scheduling, reduces time and effort, user skills and multilingual capabilities, time zone variations, employment requirements, and Service Level Agreements (SLAs).
Global Workforce Management Software Market Report Description:
Global workforce management software market report gives comprehensive outlook on workforce management software market across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global workforce management software market gives historical, current, and future market sizes on the solutions, deployment, organization size, end user product and region. This report studies global workforce management software market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global workforce management software market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policy makers, and service providers engaged in global market
Key Findings of the Report:
- Global workforce management software market expanding at significant CAGR over 2020 to 2026 owing due to gaining prominence of the cloud-based applicant tracking software
- Based on region, North America accounted for larger market revenue share in 2019 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
- Time and Attendance Management
- Leave and Absence Management
- Workforce Scheduling
- Workforce Analytics
By Deployment Type
By Organization Size
- Large Enterprises
- Small and Medium-sized Enterprises
- Banking, Financial Services and Insurance (BFSI)
- Consumer Goods and Retail
- Energy and Utilities
- Transportation and Logistics
- Healthcare and Life Sciences
- Information Technology enabled Services (ITeS)
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA