LONDON--(BUSINESS WIRE)--The labor management software market size is poised to grow at a CAGR of over 10% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Labor management software is equipped with numerous advanced features to improve the efficiency of operations. The emergence of advanced analytics, 360-degree feedback, and IoT, has led to the development of labor management software that can manage complex tasks, such as time and performance management. Labor management software can help transform industrial processes. Thus, technological advances and the increasing adoption of digitization will drive the growth of the labor management software market.
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As per Technavio, the emergence of cloud computing services will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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. With cloud computing services, end-users can concentrate on organizational core activities instead of managing applications. With many advantages such as these, the global market for labor management software is expected to register a positive outlook during the forecast period.
“Other factors such as the increasing demand for data integration and visual analytics, and growing emphasis on refining efficiencies and core capabilities will have a significant impact on the growth of the labor management software market value during the forecast period,” says a senior analyst at Technavio.
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Labor Management Software Market: Segmentation Analysis
This market research report segments the 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, followed by EMEA and APAC respectively. The growth of the labor management software market share in the Americas can be attributed to several factors such as the expanding healthcare market, high adoption of this software in the manufacturing and transportation sector, and the strong presence and penetration of the top vendors in the region.
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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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