DUBLIN--(BUSINESS WIRE)--The "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" report has been added to Research and Markets' offering.
The WFM market size is expected to grow from US$4.49 billion in 2016 to US$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 workforces and the rapid increase in mobile applications. These solutions help organizations to bring transparency into Human Resources (HR) operations and processes, and improve their decision making abilities by understanding the role of human capital in the organization. The rise of cloud deployment is another driver of the implementation of remote workforce solutions, but the lack of awareness of workforce tools and solutions promotes the use of traditional management methods.
The demographic changes and aging population in Europe are helping to raise awareness and improve practices in organizations. Moreover, in Europe, countries such the U.K. and Germany are adopting changes in WFM. Compared to 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 vendors from offering similar solutions and platforms all over Europe.
Market Dynamics
Drivers
- Rise of Cloud-Based Solutions
- Increased Focus on Workforce Optimization and Mobile Applications
- Increased Adoption of Automation
Restraints
- Less Intent to Adopt A Software Solution Switching From Traditional Methods in SMES
Opportunities
- Increasing Adoption of WFM By SMES
- Organizations' Inclination Toward Human Resource Analytics
Challenges
- High Training Investments By the Organizations
- Implementing the Mobile Workforce Effectively
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Workforce Management Market Analysis, By Component
8 Market Analysis, By Solution
9 Market Analysis, By Service
10 Market Analysis, By Deployment Type
11 Workforce Management Market Analysis, By Organization Size
12 Market Analysis, By Vertical
13 Geographic Analysis
14 Competitive Landscape
15 Company Profiles
- 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.
For more information about this report visit https://www.researchandmarkets.com/research/kp4z4l/global_workforce?w=4
