LONDON--(BUSINESS WIRE)--The global labor management software market is expected to post a CAGR of close to 10% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the market is digital transformation. Digital transformation across industries such as healthcare, transportation and logistics, retail, hospitality, and manufacturing is driving the growth of the labor management software market. In the manufacturing and logistics industries, numerous advanced features are being introduced to improve the efficiency of operations. Due to the emergence of advanced analytics, 360-degree feedback, and loT, complex tasks (such as time and performance management) can be managed by labor management software. Labor management software enables managers or operational head to find the right talent for end-to-end tasks carried out in projects in real-time and give performance progression target alerts. Such developments enable organizations across different industries to integrate their horizontal and vertical structures with the advances in IT. Therefore, technological advances and the increasing adoption of digitization will drive the growth of the labor management software market during the forecast period.
This market research report on the global labor management software market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the emergence of cloud computing services as one of the key emerging trends in the global labor management software market:
Global labor management software market: Emergence of cloud computing services
The introduction of cloud computing in warehouse management has improved and simplified the capabilities of labor management software. Cloud computing provides central control and administration of all resources and labor-related activities such as talent management, time and attendance, and payroll management. Also, cloud-based labor management software eliminates the need for users to update and maintain their IT infrastructure. Moreover, organizations across the world are adopting cloud computing to reduce the cost of managing enterprise IT infrastructure. With cloud computing services, end-users can concentrate on organizational core activities instead of managing applications. Therefore, with many advantages such as these, the global market for labor management software is expected to register a positive outlook during the forecast period.
“The increasing demand for data integration and visual analytics, the growing emphasis on refining efficiencies and core capabilities, and the growing need of business to comply with regulatory guidelines and ethical standards, are some other aspects of the global labor management software market that are expected to enhance the growth of the market,” says a senior analyst at Technavio for research on enterprise application.
Global labor management software market: Segmentation analysis
This market research report segments the global labor management software market by deployment (on-premise and cloud-based) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2018 with a market share of over 42%, followed by EMEA and APAC respectively. However, the APAC region is expected to register the highest incremental growth during the forecast period.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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