CHELMSFORD, Mass.--(BUSINESS WIRE)--Kronos Incorporated today announced that, according to the latest global study of workforce management solutions published by IHS Technology (NYSE: IHS), Kronos is once again the solid leader of the global workforce management market.1 In addition, IHS predicted that increasing adoption of software-as-a-service (SaaS) workforce management solutions will be the most influential factor affecting market growth over the next five years. With Kronos leading the market and the Kronos Cloud being the fastest-growing segment of Kronos’ business, Kronos is driving the adoption toward cloud for workforce management and transforming the way organizations manage their workforces.
- In 2014, Kronos led all vendors with a 23.9 percent share2 of the global workforce management market and 34 percent share3 in the Americas. Also in 2014, Kronos maintained leadership positions in India, Oceania, and the United Kingdom and Ireland.4 Kronos also grew share in Europe, Middle East, Africa, and Asia.5
- IHS sees the world market for SaaS workforce management solutions growing more than 14 percent6 over the next five years. The Kronos Cloud is experiencing significant growth across all industry segments and company sizes, and is the fastest-growing aspect of the business. More than 84 percent of new Kronos customers are deploying in the Kronos Cloud.
- Another workforce management trend identified by IHS is an increasing use of analytics, up approximately 15 percent7 in 2014. Kronos Workforce Analytics – Kronos’ leading strategic product – and the Big Data for Workforce Management practice group are changing the face of big data for workforce management by helping organizations align operational and financial data to monitor processes, improve outcomes, and plan for the future.
- The data described in this release was obtained from “The Workforce Management Solutions – World Report,” which provides a comprehensive assessment of the workforce management market and estimates market share held by leading suppliers. The latest report was published in June 2015 and written by Sam Grinter, market analyst at IHS.
Aron Ain, chief executive officer, Kronos
“The pace of customers choosing to deploy in the Kronos Cloud is greatly exceeding our expectations and we now have more than 15,000 organizations running in the Kronos Cloud. As the hands-down leader in the market, Kronos is setting the pace for the workforce management industry and paving the way for organizations who want to derive maximum value fast from their workforce management investment.”
Sam Grinter, market analyst, IHS
“Our research has shown that the market for workforce management solutions is expected to grow relatively quickly with a large proportion of the growth as a result of the increasing adoption of SaaS. Kronos and other vendors have gone a long way to legitimize the use of cloud for the application of workforce management.”
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About Kronos Incorporated
Kronos is the global leader in delivering workforce management solutions in the cloud. Tens of thousands of organizations in more than 100 countries - including more than half of the Fortune 1000® - use Kronos to control labor costs, minimize compliance risk, and improve workforce productivity. Learn more about Kronos industry-specific time and attendance, scheduling, absence management, HR and payroll, hiring, and labor analytics applications at www.kronos.com. Kronos: Workforce Innovation That Works™.
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1 IHS Technology, Workforce Management Solutions Report 2015 (June 2015), at 284.
2 Ibid., at page 284.
3 Ibid., at page 294.
4 Ibid., at pages 288, 292, 304, 305 and 306.
5 Ibid., at pages 288, 292, 304, 305 and 306.
6 Ibid., at page 7.
7 Ibid., at page 54.