NEW YORK, Jan. 4, 2022 /PRNewswire/ -- Workforce Management Software Market Facts at a Glance-
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According to the recent market study by Technavio, the Workforce Management Software Market Size is expected to increase by USD 2.13 billion from 2020 to 2025, with an accelerated CAGR of 11.29%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
North America will register the highest growth rate, occupying 34% of the global market share. The US is the key market for workforce management software in North America. However, the market growth in this region will be slower than the growth of the market in other regions.
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The workforce management software market is fragmented and is highly competitive. Vendors are focusing on forming strategic alliances, joint ventures, or acquiring small vendors to expand their operations and remain competitive in the market.
Automatic Data Processing Inc.: The company offers workforce management solutions by offering ADP enterprise eTIME software that optimizes workforce performance.
Blue Yonder Group Inc.: The company offers BlueYonder potential software under workforce management solutions for workforce management.
Ceridian HCM Holding Inc.: The company offers HCM software under workforce management solutions that improve operational efficiency, decrease labor costs and reduce compliance issues.
International Business Machines Corp.: The company offers talent management software under service and consulting to inspire the customer workforce with innovative technologies and a people-centric approach to talent management.
Koch Industries Inc.: The company offers Infor WFM software under workforce management solutions that optimize labor cost and compliance.
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Regional Market Outlook
The workforce management software market growth in North America will be significant during the forecast period. The improved penetration of social media and high demand for cost-efficient HR solutions are driving the growth of the workforce management market in North America. In addition, the increasing adoption of cloud-based workforce management solutions is expected to foster regional market growth during the forecast period.
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Latest Drivers & Trends Driving the Market-
The introduction of various regulations regarding workforce management is forcing organizations to implement and document activities to ensure optimum performance in business operations. Hence, businesses are increasingly adopting workforce management software to streamline HR functions by identifying ideal candidates for the job in a short time. Workforce management software also reduces manual work in the process by reducing paperwork, thereby enhancing overall productivity and complying with various regulations.
Organizations are focusing on enhancing the employee experience by integrating analytics, social media, mobile platforms, and cloud technologies with workforce management software. This provides additional HRM features such as time and attendance management, appointment and meeting reminders, on-demand video learning, messaging, and stress monitors, thereby enhancing the employee experience. This trend is expected to have a positive impact on the growth of the market during the forecast period.
Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.
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Workforce Management Software Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 11.29%
Market growth 2021-2025
USD 2.13 billion
YoY growth (%)
North America, Europe, APAC, South America, and MEA
Performing market contribution
North America at 34%
Key consumer countries
US, Germany, India, UK, and Japan
Leading companies, competitive strategies, consumer engagement scope
Automatic Data Processing Inc., Blue Yonder Group Inc., Ceridian HCM Holding Inc., International Business Machines Corp., Koch Industries Inc., Kronos Inc., Oracle Corp., Sage Group Plc, SAP SE, and Workday Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.
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About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/
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