The workforce management software helps in organizing and managing the business staff in terms of scheduling. In addition, it helps in gaining insights about the staff involved with the organization that further fuels the organizational process. This is expected to propel the market growth over the forecast period. Time management is one of the most important components of any company due to which this software is adopted. Moreover, it computes the current productivity and forecasts any resource requirement, this feature is likely to boost the workforce management software market over the next six years. Additionally, it helps in taking strategic decisions for the organization’s growth and addresses issues associated with the human resources, which is further projected to fuel the market. At times there is forecasted work for the organization wherein this software can help to optimize and schedule resources accordingly.
Increasing Integration of Internet of Things (IoT)
Integration of Internet of Things (IoT) is increasing at a rapid pace owing to which the utilization of workforce management software is on the rise. IoT helps in connection with various devices at the same time and one can access or edit the information at any point in given time. Earlier, the resource management was carried out manually or through spreadsheets, which was highly time-consuming, leading to the discrepancy of data. Introduction of IoT to workforce management software eases the job by enhancing the technological capabilities. This is likely to boost the workforce management software market growth over the forecast period.
Cloud to Exhibit the Highest Growth
The adoption of cloud computing in workforce management software enables various benefits, such as mobility, flexibility, and security. It allows the administrator to access with any device and at any time. In addition, changes can be made or any task can be scheduled irrespective of the location of the administrator. Moreover, it saves an enormous amount of money as the organization subscribes to the required amount of storage and technical specification. The aforementioned factors are projected to increase the utilization of cloud, thereby, contributing to the highest growth in the market over the next six years.
Asia-Pacific to Have the Highest Growth
The number of workforce in the Asia-Pacific countries, such as India and China, is expected to increase due to the rise in the number of companies and regulations associated with job creation. Moreover, the region is increasingly adopting new technologies to encourage development and to contribute to the economic growth. The aforementioned factors are expected to propel the usage of software, thereby, propelling the market growth in the region over the forecast period.
- February 2018 - Infor launched enterprise analytics for healthcare industry offering enhanced operations and insights, which is expected to expand their customer base.
- November 2017 - Kronos Incorporated introduced an advanced version of workforce management software through artificial intelligence and machine learning. This is expected to bring profit to the company and alter the industry.
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- The future prospect of the workforce management software market and opportunities
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- Regional analysis of the market
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in Excel)
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1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
1.4 Key Findings of the Study
2. Research Approach and Methodology
3. Executive Summary
4. Market Dynamics
4.1 Market Overview
4.2 Industry Value Chain
4.3 Factors Driving the Market
4.3.1 Growing Adoption of Analytical Solutions
4.3.2 Increasing Integration of Internet of Things (IoT)
4.4 Factors Restraining the Market
4.4.1 Lack of Skilled Labor
4.5 Industry Attractiveness – Porter's Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Consumers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products or Services
4.5.5 Competitive Rivalry among Existing Competitors
5. Global Workforce Management Software Market Segmentation
5.1 By Software Type
5.1.1 Labor Forecast & Scheduling
5.1.2 Time & Attendane Management
5.1.3 Absence Management
5.1.4 HR Management
5.1.5 Others (Employee Self Service, Mobile Workforce)
5.2 By Deployment Mode
5.3 By End-User Vertical
5.3.4 Public Sector
5.3.6 Industrial Manufacturing
5.3.7 Others (Aerospace & Defense, Services, Food & Beverage)
5.4 By Geography
5.4.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 Rest of Asia-Pacific
5.4.4 Rest of the World
220.127.116.11 Latin America
18.104.22.168 Middle East & Africa
6. Vendor Market Share
7. Competitive Intelligence – Company Profiles
7.1 Active Operations Management International LLP
7.2 NICE Systems Ltd.
7.3 Oracle Corporation
7.5 Kronos Incorporated
7.6 Reflexis Systems, Inc.
7.8 Replicon, Inc.
7.9 WorkForce Software, LLC
7.10 JDA Software Group, Inc.
7.11 eg solutions plc
7.12 BambooHR LLC
*List not Exhaustive
8. Opportunities in Global Workforce Management Software Market
- Active Operations Management International LLP
- NICE Systems Ltd.
- Oracle Corporation
- Kronos Incorporated
- Reflexis Systems Inc.
- Replicon Inc.
- WorkForce Software LLC
- JDA Software Group Inc.
- eg solutions plc
- BambooHR LLC