The global Workforce Management Market is expected to gain a positive traction in the forecast period. Workforce planning is the logical process to gauge and resolve the vacuum between workforce and human labor needs. It is thus a foundation to derive strategic decisions pertaining to human resources. Hence, a workforce management software supplements all the activities pertaining to human resource, organizational objectives and interrelated interaction. Workforce management solution enables an organization to detect and rectify the problems that further ensure optimum use of existing resources.
Workforce management market is driven by factors such as increase in modernization of work culture arising out of adoption of global trends and rise in use of digitization for designing work schedule. Increase in integration and interaction in daily operations is triggering technological and social advancements as well in companies across the globe. In addition, the shift in HR operations for administration and workforce planning is likely to contribute to the market growth in the forecast period. However, technical loopholes coupled with low awareness and dearth of technical competency negatively affects the workforce management industry.
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Based on solution, the workforce management market includes workforce scheduling, embedded analytics, time & attendance management, task management, and assigned jobs. By deployment, the market includes on-premise and cloud. Cloud technology accounts for a higher growth during the forecast period due to increase in preference by companies.
The company size segmentation for workforce management industry includes small & medium enterprise and large enterprise. Large enterprise dominate the market segment due to substantial demand for workforce management and task alignment. Application segment for workforce management market includes BFSI, government, healthcare, automotive & manufacturing and retail. Healthcare segment is expected to dominate the market in the forecast period due to enormous structure of healthcare infrastructure around the world. Patient pooling coupled with management of internal affairs is likely to foster the healthcare infrastructure with the influx of workforce management software.
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Geographical segmentation for workforce management industry include North America, South America, Europe, Asia-Pacific, Middle East and Africa. North America dominates the market growth in the forecast period due to technological advances and increase in technological deployment projects on a large scale. Asia-Pacific’s market is expected to gain a significant rise during the forecast period due to increase in technological advances and availability of large population. Middle Eastern and African markets are expected to gain a positive traction in the forecast period.
The key players in the workforce management industry include Ceridian HCM Holding Inc, Oracle Corporation, Active Ops Limited, Eg Solutions Inc, JDA Software Group Inc, Kronos Inc, Replicon Inc, SISQUAL, and Reflexis System Inc.