DUBLIN, October 6, 2021 / PRNewswire / – The “Workforce Management Software Market, Forecast, Impact of COVID-19, Industry Trends, By Organization Size, Growth, Company Analysis” report has been added to ResearchAndMarkets.com offer.
The workforce management software market will reach US $ 10.64 billion by 2027 from US $ 6.28 billion in 2020, growing with a CAGR of 7.82% in 2020-2027.
In the modern age, with advancements in technology and the growing popularity of workforce management solutions, they are becoming an increasingly important tool for business processes to centralize employee usage data. resources and better plan future use.
Workforce Management (WFM) software offers a set of integrated approaches that enable organizations to optimize the productivity of their employees. By effectively forecasting workforce needs and creating and managing staff schedules to accomplish a specific task on a day-to-day and hour-to-hour basis.
In addition, the growing popularity of cloud-based solutions and the growing trend of AI and machine learning are major factors for the growing penetration of smart and connected devices and the growing focus on optimizing for workforce, thereby driving the growth of the WFM software market.
Based on type of deployment
The workforce management software market includes on-premise, cloud, and hybrid. The cloud holds the largest market share. Cloud-based solutions are automated and can provide self-service, reducing the load on labor-intensive tasks. In addition, the on-premise software market remains large, as medium and large enterprises maintain existing workforce management and back-office software until contracts expire and they have access to existing back-office software. ” a comprehensive digital transformation strategy.
In addition, the rapid adoption of workforce management in education, healthcare, retail, IT and telecommunications, BFSI, manufacturing and government sectors to reduce processing times, increasing customer satisfaction and delivering a high return on investment are factors that drive high growth. Major vendors are also focusing on strengthening their channel partner ecosystems to improve indirect sales and enhance business growth.
Regional Analysis Workforce Management Software Industry
North America is the leading region in the adoption of workforce management solutions and services by enabling efficient work schedules, business processes, labor costs and talent management. In the United States, workforce management software is becoming increasingly important to organizations in order to keep their workforce motivated and organized to ensure peak productivity, which is vital while continuing to operate. keeping abreast of the changing times. ADP INC, Huntington Business Systems, Kronos Incorporated, Nice Systems Ltd and Oracle.
What’s more, Europe is seeing significant investments in the deployment of workforce planning software, particularly in the healthcare, manufacturing, travel and transportation and retail sectors. The growing deployment of cloud solutions is primarily driving the adoption of workforce management in Germany. Increase automation through germany The manufacturing sector is very demanding when it comes to workforce management solutions.
Impact of COVID-19 on the workforce management software industry
The COVID 19 pandemic has positively impacted the WFM software market, fostering digitization and automation in manufacturing sectors around the world. The confinement and physical distancing warrants required to control the spread of COVID 19 have forced many organizations to let their employees work from home. WFH or remote workplace mandates show how important it is to have an online system to manage employees in real time and with accurate information.
Key players in the WFM software market
Market players such as ADP INC, Huntington Business Systems, Kronos Incorporated, Nice Systems Ltd and Oracle collaborate with key players, product innovation, acquisition partnerships and strengthening regional and global distribution networks. In 2021, NICE introduces NTR-X, a next-generation cloud-based compliance solution for omnichannel business records management.
Main topics covered:
2. Research methodology
3. Executive summary
4. Market dynamics
4.1 Growth drivers
5. Workforce Management Software Market
6. Market Share – Workforce Management Software Market
6.1 By organization size
6.2 By application
6.3 By deployment
6.4 By component
6.5 By region
7. Organization Size – Workforce Management Software Market
7.2 Small Medium
8. Application – Workforce Management Software Market Security Services
8.5 Retail e-commerce
8.6 IT Telecom
9. Type of Deployment – Workforce Management Software Market
9.1 On site
10. Component – Workforce Management Software Market
11. Region – Workforce Management Software Market
11.1 North America
11.5 Latin America
12. Business Analysis – Workforce Management Software Market
12.2 Company initiatives
12.3 Sales analysis
For more information on this report, visit https://www.researchandmarkets.com/r/3u7wey
Research and markets
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SOURCE Research and Markets