Global Workforce Management Market Outlook, 2020-2025: Impact of COVID-19, Key Trends, Use Cases for Replicon, Mark Information & Kronos, Value Chain & Technology Analysis - ResearchAndMarkets.com

DUBLIN--()--The "Workforce Management Market by Component, Solution (Time and Attendance Management, Workforce Scheduling, Leave and Absence Management), Service, Deployment Type, Organization Size, Vertical, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The Global Workforce Management Market Size is Expected to Grow from an Estimated USD 6 Billion in 2020 to USD 9.3 Billion by 2025, at a CAGR of 9.3%

This market study covers the workforce management market size across segments. It aims at estimating the market size and growth potential of this market across different segments: component, solution, service, deployment type, organization size, vertical, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Major vendors offering workforce management solution across the globe Oracle (US), Kronos (US), ADP (US), SAP (Germany), Ultimate Software (US), WorkForce Software (US), IBM (US), Workday (US), Ceridian (US), Verint (US), Reflexis Systems (US), ATOSS (Germany), NICE (US), SumTotal (US), Infor (US), Meta4 (Spain), Ramco Systems (India), TimeClock Plus (US), Replicon (US), and Mark Information (Denmark).

Growing demand for workforce optimization and mobile applications expected to drive the growth of the workforce management market.

The workforce management industry is driven by various factors, such as increasing adoption of cloud-based workforce management solutions and growing demand for workforce optimization and mobile applications. However, privacy and security concerns related to the workforce data deployed on the cloud can hinder the growth of the market.

Services segment to grow at a higher CAGR during the forecast period.

Workforce management has a diversified portfolio of solutions, and therefore, services become necessary to maintain these solutions. The services covered in this section include consulting, implementation, and training, support and maintenance. These services help organizations to deploy workforce management solutions on their premises or on cloud easily. Vendors provide a complete range of services that help companies conduct different activities necessary for the business functions and provide a single point of contact for all the help and assistance required.

The services segment has a very promising future, as the workforce management market is evolving rapidly and needs proper pre- and post-consulting, deployment, and overall management of its solutions. Therefore, service providers are focused on delivering dedicated services by understanding buyers' demands and needs. Workforce management vendors sometimes provide services via channel partners that help strengthen the geographical reach of solution vendors and cost effectiveness.

Large enterprises segment to account for a higher market share during the forecast period.

Organizations with more than 1,000 employees are categorized as large enterprises. Large enterprises control a number of different systems at high levels of complexity. The market size of workforce management solutions in large enterprises is relatively high compared to Small and Medium-sized Enterprises (SMEs). This is due to affordability and high economies of scale that allow organizations to leverage the benefits of this technology.

The workforce management market is undergoing significant technological transitions through collaboration with social media platforms, deployment of real-time solutions, and the usage of mobile devices. All these advancements are highly adopted by large organizations. Workforce management helps these enterprises by providing tools specially catered to them, such as unified desktop, Customer Relationship Management (CRM) integration, and interaction analytics, to maintain healthy communication between large sets of employees.

Other than the Human Resources (HR) functionality modules, such as recruitment and learning management, workforce management solution providers offer custom-made workforce management suites to meet the needs of the customers.

Asia-Pacific to grow at the highest rate during the forecast period.

The workforce management market in Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. In the APAC region, there is a tremendous demand for workforce management solutions and services. China, India, Japan, Australia and New Zealand (ANZ), and Singapore have emerged as undisputed leaders in the workforce management industry.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in the Market

4.2 North America: Market, by Component and Country, 2020

4.3 Workforce Management Market, by Organization Size, 2020-2025

4.4 Workforce Management Market, by Deployment Size, 2020-2025

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.1.1 Growing Demand for Workforce Optimization and Mobile Applications

5.2.1.2 Increasing Adoption of Cloud-Based Workforce Management Solutions

5.2.2 Restraints

5.2.2.1 Privacy and Security Concerns Related to Workforce Data Deployed on the Cloud

5.2.3 Opportunities

5.2.3.1 Increasing Need to Make Informed Decisions Among Enterprises

5.2.3.2 Rising Adoption of Workforce Management Solutions by SMEs

5.2.4 Challenges

5.2.4.1 Implementation of Effective Mobile Workforce

5.2.4.2 Unstructured Data Format Owing to the Integration of Advanced Technologies

5.3 Use Cases

5.3.1 Use Case 1: Replicon

5.3.2 Use Case 2: Mark Information

5.3.3 Use Case 3: Kronos

5.4 Next Generation Industry Trends

5.4.1 Artificial Intelligence and Predictive Analytics

5.4.2 Cloud and Mobility

5.4.3 Automation

5.5 Value Chain Analysis

5.6 Technology Analysis

6 Workforce Management Market, Impact of the COVID-19

7 Workforce Management Market, by Component

7.1 Introduction

7.2 Solutions

7.3 Services

8 Workforce Management Market, by Solution

8.1 Introduction

8.2 Time and Attendance Management

8.3 Leave and Absence Management

8.4 Workforce Scheduling

8.5 Workforce Analytics

8.6 Others

9 Workforce Management Market, by Service

9.1 Introduction

9.2 Consulting

9.3 Implementation

9.4 Training, Support and Maintenance

10 Workforce Management Market, by Deployment Type

10.1 Introduction

10.2 On-Premises

10.3 Cloud

11 Workforce Management Market, by Organization Size

11.1 Introduction

11.2 Large Enterprises

11.3 Small and Medium-Sized Enterprises

12 Workforce Management Market, by Vertical

12.1 Introduction

12.2 Banking, Financial Services, and Insurance

12.3 Telecom

12.4 Government

12.5 Consumer Goods and Retail

12.6 Manufacturing

12.7 Energy and Utilities

12.8 Transportation and Logistics

12.9 Healthcare and Life Sciences

12.10 Information Technology Enabled Services

12.11 Other Verticals

13 Workforce Management Market, by Region

13.1 Introduction

13.2 North America

13.3 Europe

13.4 Asia-Pacific

13.5 Middle East and Africa

13.6 Latin America

14 Competitive Landscape

14.1 Introduction

14.1.1 New Product Launches/Product Enhancements

14.1.2 Partnerships and Collaborations

14.1.3 Mergers and Acquisitions

14.2 Competitive Leadership Mapping

14.2.1 Visionary Leaders

14.2.2 Innovators

14.2.3 Dynamic Differentiators

14.2.4 Emerging Companies

15 Company Profiles

15.1 Introduction

15.2 Oracle

15.3 Kronos

15.4 ADP

15.5 SAP

15.6 Ultimate Software

15.7 Verint

15.8 Workday

15.9 Reflexis Systems

15.10 Workforce Software

15.11 IBM

15.12 Ceridian

15.13 Sumtotal

15.14 Meta4

15.15 Atoss

15.16 Nice

15.17 Infor

15.18 Ramco Systems

15.19 Replicon

15.20 Timeclock Plus

15.21 Mark Information

15.22 Right-To-Win

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900