DUBLIN--(BUSINESS WIRE)--The "Workforce Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global workforce management market exhibited strong growth during 2015-2020. Looking forward, the publisher expects the global workforce management market to grow at a CAGR of around 14% during the forecast period (2021-2026).
Workforce management (WFM) refers to a collection of tools and processes that enables an organization to monitor and centralize the data for their human resource utilization. It includes various performance-based software and tools to enhance the efficiencies of front-line supervisors, corporate management, managers and workers across the organization. It can perform multiple functions, such as workforce forecast and scheduling, HR management and workforce analysis. It can also create customized workflows that enhance overall productivity and make decision-making more efficient. Owing to this, it finds extensive applications across various industries, including banking, financial services, and insurance (BFSI), medical, government & defense, transportation & logistics, retail and information technology (IT).
The growing need for automation across industries, along with the increasing adoption of cloud-based solutions, is one of the key factors driving the growth of the market. With an increasing focus on workforce optimization, organizations are extensively employing WFM solutions to manage time and avoid duplication of tasks. Furthermore, cloud-based solutions minimize the requirements for physical hardware, which is also boosting the adoption of these solutions in organizations. The platform also reduces the overall operational costs and enhances the scalability of the infrastructure by providing access to various endpoints.
Additionally, increasing penetration of smartphones, along with the prevailing trend of Bring-Your-Own-Devices (BYOD), is also creating a positive impact on the market growth. With the deployment of WFM solutions, the employer can track the progress on tasks at any point of time while providing the employees with secure access to official files. Other factors, including rapid urbanization, especially in developing economies, rising awareness about the benefits of WFM, and extensive research and development (R&D) activities in the field of IT, are projected to drive the market in the upcoming years.
Companies Mentioned
- ADP
- Atoss Software AG
- HotSchedules Inc.
- Huntington Business Systems
- IBM
- Kronos Inc.
- Oracle Corporation
- Reflexis Systems
- SAP SE
- Ultimate Software Group Inc.
- Verint Systems
- Workday Inc.
- WorkForce Software LLC
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Workforce Management Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Solution
7 Market Breakup by Service
8 Market Breakup by Deployment Type
9 Market Breakup by Organization Size
10 Market Breakup by Vertical
11 Market Breakup by Region
12 SWOT Analysis
13 Value Chain Analysis
14 Porters Five Forces Analysis
15 Price Indicators
16 Competitive Landscape
16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/mco23q
