LONDON--(BUSINESS WIRE)--Technavio has announced the top six leading vendors in their recent global workforce management software market report until 2021. This research report also lists 14 other prominent vendors that are expected to impact the market during the forecast period.
The research study by Technavio on the global workforce management software market for 2017-2021 provides a detailed industry analysis based on the deployment model (cloud-based and on-premises) and geography (the Americas, EMEA, and APAC).
“The global workforce management software market is projected to grow to USD 7,520 million by 2021, at a CAGR of more than 8% over the forecast period. The growing need for the management of workforce diversity is a key factor boosting the adoption of the workforce management software market,” says Ishmeet Kaur, a lead analyst at Technavio for enterprise application research.
Competitive vendor landscape
The workforce management software market is characterized by the presence of a fragmented vendor landscape with multinational vendors. Several vendors such as ADP, Ceridian HCM, Kronos, Oracle, SAP, and Ultimate Software have established a sizeable market presence in the workforce management software market. The competition in the market has intensified due to the increasing demand for workforce management software among large enterprises and SMEs. The need to form high-value partnerships with large enterprises among players have increased, thereby leading to price wars.
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Top six vendors in the global workforce management software market
ADP offers cloud-based solutions for HR, payroll, talent, time, tax, and benefits administration. It also provides business outsourcing services, analytics, and compliance expertise. The company offers workforce management solutions for both SMEs and large enterprises.
Ceridian HCM offers solutions to help organizations gain accuracy, agility, and visibility with payroll processing, time and attendance, and benefits. The software helps organizations to find and hire the right people, process pay, manage benefits enrollment, maintain HR records, and schedule staff timings while monitoring compliance through the entire employee lifecycle.
Kronos offers several workforce management solutions including timekeeping, attendance, accruals, and leaves. The company delivers workforce management software and services that help organizations reduce cost, increase productivity, improve employee satisfaction, and enhance customer service.
Oracle is a global provider of database software, application software, cloud infrastructure software, hardware products such as servers, storage, and networking, and related support and services.
SAP provides HRM products that can help organizations hire and retain the right people, manage the work environment, streamline HR processes, ensure legal compliance, and create a people-centric organization. The solutions offered by the company help enterprises improve their business strategy, team execution, and people performance.
Ultimate Software provides enterprise cloud HR applications. The company delivers solutions for financial management, HCM, and analytics. It also provides professional services, training and support, and customer services.
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Technavio is leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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