Workforce management can be defined as an integrated set of processes any particular institution uses to optimize the productivity of its employees on the individual, departmental, and entity-wide levels. In a company workforce management involves matching employee skills to specific tasks over time, quantifying the amount and types of labor needed to accomplish particular jobs on a day-to-day or hour-to-hour basis.
The key drivers contributing to the growth of the workforce management market are to reduce labor expenses, improve workforce utilization & business performances, increased focus on workforce optimization and mobile applications. The growing number of medium and small enterprises in the emerging market is boosting the growth of the market. Also, workforce management solution enables organizations to run complex analytics on workforce processes to spot problems and correct them and hence ensure better use of existing resources.
The restraining factors hindering the growth of the workforce management market are lack of awareness among small firms in regions such as Africa and South America and high training cost associated with workforce management solutions.
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Major Key Players
IBM Corporation (U.S.),
Oracle Corporation (U.S.),
SAP AG (Europe),
Workforce Software (U.S.),
ADP LLC (U.S.),
Infor Global Solution (India), ClickSoftware (U.S.) and others.
According to Market Research Future, the global Workforce Management Market is expected to reach USD 9 billion by the end of 2022 with ~11% CAGR during forecast period 2016-2022
North America is dominating the Global Workforce Management Market with the largest market share due to high adoption of cloud services is observed in North America, high potential, technological progress. Workforce Management Market in Asia Pacific market is expected to grow at a substantial CAGR during 2016 to 2022 owing growing ecommerce market, growing number of small-medium enterprises. The European market for Workforce Management Market is expected to grow at a considerable CAGR (2016-2022) due to the focus towards reducing costs and increasing efficiency.
The Global Workforce Management market has been segmented on the basis of component, deployment, end-users and region. By component, the market has been bifurcated into solutions and services. On the basis of deployment, the market can be segmented as on-premises and cloud based. On the basis of end-users the market can be segmented into BFSI, healthcare, retail & e-commerce among others. By organization size, the market includes SMEs and enterprises. Further, the market has been segmented into four regions which include- North America, Europe, Asia-Pacific and RoW.
On the basis of organization size, the market can be segmented into SMEs and enterprises. Out of these, SMEs accounted for the largest market share majorly due to adoption of WFM solutions and technological transition. Also, workforce analytics solutions accounted for the largest market share majorly because companies are giving high importance to optimize workforce outcome and the growing demand for performance management.
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- Workforce Management Manufacturers
- Research firms
- Consultancy firms
- Software Developers
- Semiconductor Manufacturers
- End-user sectors
- Technology Investors
TABLE OF CONTENTS
1 Market Introduction
1.2 Scope Of Study
1.2.1 Research Objective
1.3 Market Structure
2 Research Methodology
LIST OF TABLES
Table 1 Global Workforce Management market, By Components
Table 2 Global Workforce Management market, By Deployment
Table 3 Global Workforce Management market, By End-Users
LIST OF FIGURES
Figure 1 Research Deployment
Figure 2 Global Workforce Management Market, By Component (%)
Figure 3 Global Workforce Management Market, By Deployment (%)
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