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The Workforce Management Software Market is Segmented by Component (Workforce Scheduling and Analysis(Software), Time and Attendance Management(Software), Performance Management(Software), HR Management, Service), Deployment Mode (On-premise, Cloud), End-user Vertical (BFSI, Consumer Goods and Retail, Automotive, Energy and Utilities, Healthcare, Manufacturing), and Geography.
Fastest Growing Market:
The global workforce management software market was valued at USD 2711.23 million in 2019, and it is expected to reach a value of USD 3467.97 million by 2025, at a CAGR of 4.21% over the forecast period (2020 - 2025). According to a study conducted by Dell and Intel, on the current trends at workplaces across the world, although employees are broadly happy with their current jobs, they are increasingly growing dissatisfied with the reporting and communication processes adopted by their organizations. This problem is further compounded by the changing needs at the workplace, with employees no longer expected to just work within a conventional schedule of a 9 AM – 5 PM, due to diversification in work practices.
Workforce management software enables organizations to centralize resource usage data and better plan future utilization. It allows the companies to create custom workflows to be more efficient in their decision-making processes and protect the integrity of data. Therefore, in order to manage several aspects of workforce for better productivity, the market software solutions include workforce forecast and scheduling, time and attendance management, task management, HR management, and other solutions, including workforce analytics.
|Workforce Scheduling and Analysis (Software)|
|Time and Attendance Management (Software)|
|Performance Management (Software)|
|HR Management (Software)|
|Consumer Goods and Retail|
|Energy and Utilities|
|Other End-user Industries|
|Middle East and Africa|
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The workforce management software market is fragmented, since in the current competitive scenario, it is becoming increasingly important for organizations to keep their workforce motivated and organized. This is to ensure optimal productivity, which is important to keep abreast of the changing times. Companies, like Oracle, NICE Systems, Infor, and SISQUAL, are introducing a wide range of innovative workforce management solutions, with advanced capabilities and features, which address traditional needs of contact centers, back offices, and branches.
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Assessment of COVID-19 impact on the industry
4.4 Market Drivers
4.4.1 Increasing Adoption of Internet of Things (IoT) and Cloud-based Solutions is Expanding the Market
4.4.2 Growing Adoption of Analytical Solutions and WFM by SMEs is Driving the Market Growth
4.5 Market Challenges
4.5.1 Implementation and Integration Concerns Hindering the Market
5. MARKET SEGMENTATION
5.1.1 Workforce Scheduling and Analysis (Software)
5.1.2 Time and Attendance Management (Software)
5.1.3 Performance Management (Software)
5.1.4 HR Management (Software)
5.2 Deployment Mode
5.3 End-user Vertical
5.3.2 Consumer Goods and Retail
5.3.4 Energy and Utilities
5.3.7 Other End-user Industries
5.4.1 North America
5.4.3 Asia Pacific
5.4.4 Latin America
5.4.5 Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Active Operations Management International LLP
6.1.2 NICE Systems Ltd.
6.1.3 Oracle Corporation
6.1.5 Kronos Incorporated
6.1.6 Reflexis Systems Inc.
6.1.8 Workday Inc.
6.1.9 WorkForce Software LLC
6.1.10 Blue Yonder Group Inc.
6.1.11 HotSchedules Inc.
6.1.12 BambooHR LLC
6.1.14 IBM Corporation
6.1.15 SAP SE
6.1.16 ADP LLC
6.1.17 Atoss Software AG
6.1.18 Mitrefinch Ltd
6.1.19 Sage Group plc
6.1.20 Roubler UK Limited Company
6.1.21 Tamigo UK Ltd
7. INVESTMENT ANALYSIS
8. FUTURE OF THE MARKET
** Subject to Availability