In a recently published report, Workforce Management Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Workforce Management Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Global Workforce Management Market is valued approximately at USD 4.3 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 10.2% over the forecast period 2020-2027. Workforce management is used to schedule day-to-day tasks for employees, helps companies to track time and attendance as well as administer absence and leave of their employees. Workforce management provides collective set of performance-based software and tools for an organization to support front line supervisors, corporate management, store managers, and workers across manufacturing, retail, distribution and transportation operations. For instance: In manufacturing industry, the adoption of workforce management solutions measure an employee’s productivity and helps them to manage and retain a high-performing workforce.
The growing demand for workforce optimization and mobile application and increasing adoption of cloud-based workforce management solutions are the few factors responsible for growth of the market over the forecast period. Furthermore, the introduction of products and services along with other strategic alliance by market key players will create a lucrative demand for this market. For instance: on 19th May 2020, Infor launched Infor Workforce Management Express Program in China. It is a business cloud software tool for workforce management with intelligent scheduling that help companies be operationally agile and ease the “back-to-work” phase as companies gradually re-open. However, privacy and security concerns related to workforce data deployed on the cloud is the major factor restraining the growth of global Workforce Management market during the forecast period.
The regional analysis of global Workforce Management market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world owing to the increasing adopting workforce management solutions and services. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
Automatic Data Processing, Inc.
Infor
International Business Machines Corporation
Kronos Incorporated
Oracle Corporation
SAP SE
SumTotal Systems LLC
Verint Systems Inc.
Workday, Inc.
WorkForce Software, LLC
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
*
By Component:
Solution
Service
By Deployment Mode:
On-Premise
Cloud
By Organization Size:
Large Enterprises
Small & Medium Enterprises
By Industry Vertical:
BFSI
Manufacturing
Healthcare
Government
Retail & E-Commerce
IT & Telecom
Education
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
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Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Workforce Management Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Workforce Management Market, by Region, 2018-2027 (USD Billion)
1.2.2. Workforce Management Market, by Component, 2018-2027 (USD Billion)
1.2.3. Workforce Management Market, by Deployment Mode, 2018-2027 (USD Billion)
1.2.4. Workforce Management Market, by Organization Size, 2018-2027 (USD Billion)
1.2.5. Workforce Management Market, by Industry Vertical, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Workforce Management Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Workforce Management Market Dynamics
3.1. Workforce Management Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Workforce Management Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2017-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Workforce Management Market, by Component
5.1. Market Snapshot
5.2. Global Workforce Management Market by Component, Performance – Potential Analysis
5.3. Global Workforce Management Market Estimates & Forecasts by Component 2017-2027 (USD Billion)
5.4. Workforce Management Market, Sub Segment Analysis
5.4.1. Solution
5.4.2. Service
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