Workforce Management Market by Component (Solutions and Services), Deployment (Cloud and On-premises), Organization Size (SMEs and Enterprises), Vertical, and Region - Global Forecast to 2021

  • ID: 4090870
  • Report
  • Region: Global
  • 146 Pages
  • Markets and Markets
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The WFM Market Size is Expected to Grow USD 4.49 Billion in 2016 to USD 7.37 Billion by 2021, at a CAGR of 10.4% from 2016 to 2021

FEATURED COMPANIES

  • Atoss Software AG
  • Hot Schedules
  • Kronos, Inc.
  • Oracle Coporation
  • Reflexis Systems, Inc.
  • SAP SE
  • MORE

“The workforce management market (WFM) is projected to grow at a CAGR of 10.4% from 2016 to 2021”

The WFM market size is expected to grow USD 4.49 billion in 2016 to USD 7.37 billion by 2021, at a CAGR of 10.4% from 2016 to 2021.

The primary reasons behind the adoption of WFM solutions is the need to optimize workforce and the rapid increase in mobile applications. These solutions help organizations bring transparency into Human Resources (HR) operations and processes and hence improve their decision making abilities by understanding the role of human capital in the organization. The rise of cloud deployment is another driver for implementing remote workforce solutions, but the lack of awareness of workforce tools and solutions promotes the use of traditional management methods.

“Implementation services is projected to showcase robust growth in the WFM market”

The WFM professional services help clients in planning, designing, implementing, training, auditing, and managing solutions to streamline the business growth. Professional services are required in the IT industry during solution implementation or after the deployment.

“Europe is expected to have the highest growth rate during the forecast period”

The demographic changes and aging population in Europe are helping raise the awareness and improve practices in organizations. Moreover, in Europe, countries such the U.K. and Germany are adopting changes in WFM. Compared to the other regions, European companies, both private and public, are constantly facing tight budgets, risk, and high competition; therefore, they require better software and solutions to maximize the efficiency of their workforce. Apart from these driving factors, the major restraint for the growth of this market is the different regulatory compliance in different countries, which restricts the vendors from offering similar solutions and platforms all over Europe.

This market research report analyzes key opportunities in the market space and provides critical market data in terms of revenue opportunity and regional adoption trends. The report also highlights major drivers, challenges, and current and future expected market trends in the IT-based WFM market space.

In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key people. Break-up of profile of primary participants is as follows:

  • By Company: Tier 1 - 36 %, Tier 2 - 21% and Tier 3 - 43%
  • By Designation: C level - 83%, Manager level - 17%
  • By Region: North America - 70%, Europe - 15%, APAC - 15%

The WFM ecosystem comprises of solutions and service providers such as IBM (U.S.), Oracle (U.S.), SAP AG (Europe), KRONOS (U.S.), Workforce Software (U.S.), ADP, LLC (U.S.), and WORKDAY (U.S.) among others; who offer their software, solution and services to end users to cater to their unique business requirements.

Research Coverage

The report includes in-depth competitive analysis of these key players in the managed security service market, with their company profiles, recent developments, and key market strategies. The research report segments the managed security service market by service, deployment type, organization size, vertical, and region.

Reasons to buy the Report

There are various assumptions that have been taken into consideration for the market sizing and forecasting exercise. A few of the global assumptions include political, social, technological, and economic factors. The dollar fluctuations are expected to not seriously affect the forecast in the emerging regions.

The report will help the market leaders or new entrants in this market in the following ways:

1. This report segments the market into various sub-segments, covering this market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and the sub-segments. The market numbers are further split across different end users and regions.
2. This report will help in the better understanding of the competitors and gain more insights to better one’s position in the market. There is a separate section on competitive landscape, which includes competitor ecosystem, mergers and acquisitions, partnerships, and agreements. Besides, there are company profiles of ten players in this market. In this section, market internals are provided to help them stay ahead in the competition.
3. The report also helps in understanding the overall growth of the market. It provides information on key market drivers, restraints, challenges, and opportunities.

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FEATURED COMPANIES

  • Atoss Software AG
  • Hot Schedules
  • Kronos, Inc.
  • Oracle Coporation
  • Reflexis Systems, Inc.
  • SAP SE
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Limitations
1.5 Currency
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Workforce Management Market
4.2 Market, By Solution and Region
4.3 Market, By Solution
4.4 Market Potential
4.5 Life Cycle Analysis, By Region, 2016

5 Market Overview
5.1 Introduction
5.2 Market Segmentation
5.2.1 By Component
5.2.2 By Service
5.2.3 By Organization Size
5.2.4 By Deployment Type
5.2.5 By Vertical
5.2.6 By Region
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Rise of Cloud-Based Solutions
5.3.1.2 Increased Focus on Workforce Optimization and Mobile Applications
5.3.1.3 Increased Adoption of Automation
5.3.2 Restraints
5.3.2.1 Less Intent to Adopt A Software Solution Switching From Traditional Methods in SMES
5.3.3 Opportunities
5.3.3.1 Increasing Adoption of WFM By SMES
5.3.3.2 Organizations’ Inclination Toward Human Resource Analytics
5.3.4 Challenges
5.3.4.1 High Training Investments By the Organizations
5.3.4.2 Implementing the Mobile Workforce Effectively

6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.3 Strategic Benchmarking

7 Workforce Management Market Analysis, By Component
7.1 Introduction
7.2 Solutions
7.3 Services

8 Market Analysis, By Solution
8.1 Introduction
8.2 Absence Management
8.3 Performance Management
8.4 Workforce Scheduling
8.5 Time and Attendance Management
8.6 Workforce Analytics
8.7 Others

9 Market Analysis, By Service
9.1 Introduction
9.2 Implementation Services
9.3 Support and Maintenance
9.4 Training and Education

10 Market Analysis, By Deployment Type
10.1 Introduction
10.2 Cloud
10.3 On-Premises

11 Workforce Management Market Analysis, By Organization Size
11.1 Introduction
11.2 Small and Medium Enterprises
11.3 Large Enterprises

12 Market Analysis, By Vertical
12.1 Introduction
12.2 Government and Defense
12.3 Banking, Financial Services, and Insurance
12.4 Healthcare
12.5 Transportation and Logistics
12.6 Telecom and IT
12.7 Consumer Goods and Retail
12.8 Manufacturing
12.9 Energy and Utilities
12.10 Others

13 Geographic Analysis
13.1 Introduction
13.2 North America
13.3 Europe
13.4 Asia-Pacific
13.5 Middle East and Africa
13.6 Latin America

14 Competitive Landscape
14.1 Overview
14.2 Workforce Management Market: Vendor-Dive Comparision
14.3 Competitive Situations and Trends
14.3.1 New Product Launches/Upgradation
14.3.2 Partnerships, Agreements, and Collaborations
14.3.3 Mergers and Acquisitions
14.3.4 Expansions

15 Company Profiles
15.1 Introduction
(Business Overview, Solutions and Services Offered, Recent Developments, Key Strategies, and SWOT Analysis)
15.2 International Business Machines (IBM) Corporation
15.3 Oracle Coporation
15.4 SAP SE
15.5 Kronos, Inc.
15.6 Automatic Data Processing (ADP), LLC.
15.7 Ultimate Software Group, Inc.
15.8 Workday, Inc.
15.9 Verint Systems, Inc.
15.10 Workforce Software, LLC.
15.11 Reflexis Systems, Inc.
Details on Business Overview, Solutions and Services Offered, Recent Developments, Key Strategies, and SWOT Analysis might not be captured in case of unlisted companies
15.12 Key Innovators
15.12.1 Atoss Software AG
15.12.1.1 Business Overview
15.12.1.2 Key Strategies
15.12.2 Huntington Business Systems (HBS), Inc.
15.12.2.1 Business Overview
15.12.2.2 Key Strategies
15.12.3 Hot Schedules
15.12.3.1 Business Overview
15.12.3.2 Key Strategies

16 Appendix
16.1 Industry Exrpts
16.2 Discussion Guide

List of Tables
Table 1 Workforce Management Market Size and Growth Rate, 2014-2021 (USD Million, Y-O-Y %)
Table 2 Market Size, By Component, 2014-2021 (USD Million)
Table 3 Solutions: Market Size, By Solution Types, 2014-2021 (USD Million)
Table 4 Servcies: Market Size, By Service Type, 2014-2021 (USD Million)
Table 5 Market Size, By Solution, 2014-2021 (USD Million)
Table 6 Absence Management: Market Size, By Region, 2014-2021 (USD Million)
Table 7 Performance Management: Market Size, By Region, 2014-2021 (USD Million)
Table 8 Workforce Scheduling: Market Size, By Region, 2014-2021 (USD Million)
Table 9 Time and Attendance Management: Market Size, By Region, 2014-2021 (USD Million)
Table 10 Workforce Analytics: Workforce Management Market Size, By Region, 2014-2021 (USD Million)
Table 11 Others: Market Size, By Region, 2014-2021 (USD Million)
Table 12 Market Size, By Service, 2014-2021 (USD Million)
Table 13 Implementation Services: Market Size, By Region, 2014-2021 (USD Million)
Table 14 Support and Maintenance: Market Size, By Region, 2014-2021 (USD Million)
Table 15 Training and Education: Market Size, By Region, 2014-2021 (USD Million)
Table 16 Workforce Management Market Size, By Deployment Type, 2014-2021 (USD Million)
Table 17 Cloud: Workforce Managemen Market Size, By Region, 2014-2021 (USD Million)
Table 18 On-Premises: Market Size, By Region, 2014-2021 (USD Million)
Table 19 Market Size, By Organization Size, 2014-2021 (USD Million)
Table 20 Small and Medium Enterprises: Market Size, By Region, 2014-2021 (USD Million)
Table 21 Large Enterprises: Market Size, By Region, 2014-2021 (USD Million)
Table 22 Market Size, By Vertical, 2014-2021 (USD Million)
Table 23 Government: Market Size, By Region, 2014-2021 (USD Million)
Table 24 Banking, Financial Services, and Insurance: Workforce Management Market Size, By Region, 2014-2021 (USD Million)
Table 25 Healthcare: Market Size, By Region, 2014-2021 (USD Million)
Table 26 Transportation and Logistics: Market Size, By Region, 2014-2021 (USD Million)
Table 27 Telecom and IT: Market Size, By Region, 2014-2021 (USD Million)
Table 28 Consumer Goods and Retail: Market Size, By Region, 2014-2021 (USD Million)
Table 29 Manufacturing: Market Size, By Region, 2014-2021 (USD Million)
Table 30 Energy and Utilities: Market Size, By Region, 2014-2021 (USD Million)
Table 31 Others: Market Size, By Region, 2014-2021 (USD Million)
Table 32 Market Size, By Region, 2014-2021 (USD Million)
Table 33 North America: Workforce Management Market Size, By Component, 2014-2021 (USD Million)
Table 34 North America: Market Size, By Solution, 2014-2021 (USD Million)
Table 35 North America: Market Size, By Service, 2014-2021 (USD Million)
Table 36 North America: Market Size, By Deployment Type, 2014-2021 (USD Million)
Table 37 North America: Market Size, By Organization Size, 2014-2021 (USD Million)
Table 38 North America: Market Size, By Vertical, 2014-2021 (USD Million)
Table 39 Europe: Workforce Management Market Size, By Component, 2014-2021 (USD Million)
Table 40 Europe: Market Size, By Solution, 2014-2021 (USD Million)
Table 41 Europe: Market Size, By Service, 2014-2021 (USD Million)
Table 42 Europe: Market Size, By Deployment Type, 2014-2021 (USD Million)
Table 43 Europe: Market Size, By Organization Size, 2014-2021 (USD Million)
Table 44 Europe: Market Size, By Vertical, 2014-2021 (USD Million)
Table 45 Asia-Pacific: Workforce Management Market Size, By Component, 2014-2021 (USD Million)
Table 46 Asia-Pacific: Market Size, By Solution, 2014-2021 (USD Million)
Table 47 Asia-Pacific: Market Size, By Service, 2014-2021 (USD Million)
Table 48 Asia-Pacific: Market Size, By Deployment Type, 2014-2021 (USD Million)
Table 49 Asia-Pacific: Market Size, By Organization Size, 2014-2021 (USD Million)
Table 50 Asia-Pacific: Market Size, By Vertical, 2014-2021 (USD Million)
Table 51 Middle East and Africa: Workforce Management Market Size, By Component, 2014-2021 (USD Million)
Table 52 Middle East and Africa: Market Size, By Solution, 2014-2021 (USD Million)
Table 53 Middle East and Africa: Market Size, By Service, 2014-2021 (USD Million)
Table 54 Middle East and Africa: Market Size, By Deployment Type, 2014-2021 (USD Million)
Table 55 Middle East and Africa: Market Size, By Organization Size, 2014-2021 (USD Million)
Table 56 Middle East and Africa: Market Size, By Vertical, 2014-2021 (USD Million)
Table 57 Latin America: Workforce Management Market Size, By Component, 2014-2021 (USD Million)
Table 58 Latin America: Market Size, By Solution, 2014-2021 (USD Million)
Table 59 Latin America: Market Size, By Service, 2014-2021 (USD Million)
Table 60 Latin America: Market Size, By Deployment Type, 2014-2021 (USD Million)
Table 61 Latin America: Market Size, By Organization Size, 2014-2021 (USD Million)
Table 62 Latin America: Market Size, By Vertical, 2014-2021 (USD Million)
Table 63 New Product Launches, 2015-2017
Table 64 Partnerships, Agreements, and Collaborations, 2014-2017
Table 65 Mergers and Acquisitions, 2014-2017
Table 66 Expansions, 2015 -2016

List of Figures
Figure 1 Workforce Management Market: Research Design
Figure 2 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Market Breakdown and Data Triangulation
Figure 6 The Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 7 The Adoption Rate of Workforce Management Solution is Expected to Grow at A Higher CAGR in Small and Medium Enterprises
Figure 8 Consumer Goods and Retail Vertical Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 9 Support and Maintenance Services Segment is Expected to Have the Largest Market Size During the Forecast Period
Figure 10 North America has the Largest Market Size in the Workforce Management Market Followed By Europe in 2016
Figure 11 Popularity of Cloud Technologies and Mobile Applications is Contributing to the Growth of the Market
Figure 12 Time and Attendance Solution and North America Region is Estimated to Hold the Largest Market Share in 2016
Figure 13 Workforce Analytics Solution is Expected to Grow at the Highest CAGR in the Workforce Management Market By 2021
Figure 14 Europe is Expected to Hold the Largest Market Size Between 2016 and 2021
Figure 15 Middle East & Africa and Latin America are Gradually Moving Toward Growth in Adopting WFM Solutions
Figure 16 Evolution of the Market
Figure 17 Market Segmentation: By Component
Figure 18 Market Segmentation: By Solution
Figure 19 Workforce Management Market Segmentation: By Service
Figure 20 Market Segmentation: By Organization Size
Figure 21 Market Segmentation: By Deployment Type
Figure 22 Market Segmentation: By Vertical
Figure 23 Market Segmentation: By Region
Figure 24 Market: Drivers, Restraints, Opportunities, and Challenges
Figure 25 Value Chain: Market
Figure 26 Services Expected to Grow at A Higher CAGR During the Forecast Period
Figure 27 Workforce Analytics Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 28 Implementation Services Segment is Expected to Grow at the Highest CAGR From 2016 to 2021
Figure 29 Cloud Deployment Type is Expected to Grow at A Higher CAGR During the Period 2016-2021
Figure 30 Small and Medium Enterprises Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 31 Consumer Goods and Retail Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 32 Europe is Expected to Have the Largest Market Size for WFM During the Forecast Period
Figure 33 Regional Snapshot: Europe is Emerging as A New Market in the Workforce Management Market
Figure 34 North America: Workforce Analytics Driving the Growth of the WFM Market
Figure 35 Asia Pacific: Workforce Analytics Driving the Growth of the WFM Market
Figure 36 Companies Adopted New Product Launch as the Key Growth Strategy in 2014- 2017
Figure 37 Product Offerings Analysis
Figure 38 Business Strategies Analysis
Figure 39 Market Evaluation Framework
Figure 40 Battle for Market Share: New Product Launches and Partnerships Were the Key Strategies
Figure 41 Geographic Revenue Mix of Top 5 Market Players
Figure 42 International Business Machines Corporation: Company Snapshot
Figure 43 International Business Machines Corporation: SWOT Analysis
Figure 44 Oracle Corporation: Company Snapshot
Figure 45 Oracle Corporation: SWOT Analysis
Figure 46 SAP SE: Company Snapshot
Figure 47 SAP SE: SWOT Analysis
Figure 48 ADP: Company Snapshot
Figure 49 ADP: SWOT Analysis
Figure 50 Ultimate Software Group: Company Snapshot
Figure 51 Ultimate Software: SWOT Analysis
Figure 52 Workday, Inc.: Company Snapshot
Figure 53 Verint Systems, Inc.: Company Snapshot
Figure 54 Verint Systems Inc.: SWOT Analysis

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  • Atoss Software AG
  • Automatic Data Processing (ADP), LLC.
  • Hot Schedules
  • Huntington Business Systems (HBS), Inc.
  • International Business Machines (IBM) Corporation
  • Kronos, Inc.
  • Oracle Coporation
  • Reflexis Systems, Inc.
  • SAP SE
  • Ultimate Software Group, Inc.
  • Verint Systems, Inc.
  • Workday, Inc.
  • Workforce Software, LLC.
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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