14th October 2019 – The global Workforce
Management Market is expected to gain a positive traction in the
forecast period. Workforce planning is the logical process to gauge and resolve
the vacuum between workforce and human labor needs. It is thus a foundation to
derive strategic decisions pertaining to human resources. Hence, a workforce
management software supplements all the activities pertaining to human
resource, organizational objectives and interrelated interaction. Workforce
management solution enables an organization to detect and rectify the problems
that further ensure optimum use of existing resources.
Workforce management market is driven by
factors such as increase in modernization of work culture arising out of
adoption of global trends and rise in use of digitization for designing work
schedule. Increase in integration and interaction in daily operations is triggering
technological and social advancements as well in companies across the globe. In
addition, the shift in HR operations for administration and workforce planning
is likely to contribute to the market growth in the forecast period. However,
technical loopholes coupled with low awareness and dearth of technical
competency negatively affects the workforce management industry.
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Based on solution, the workforce
management market includes workforce scheduling, embedded analytics, time &
attendance management, task management, and assigned jobs. By deployment, the
market includes on-premise and cloud. Cloud technology accounts for a higher
growth during the forecast period due to increase in preference by companies.
The company size segmentation for
workforce management industry includes small & medium enterprise and large
enterprise. Large enterprise dominate the market segment due to substantial
demand for workforce management and task alignment. Application segment for
workforce management market includes BFSI, government, healthcare, automotive
& manufacturing and retail. Healthcare segment is expected to dominate the
market in the forecast period due to enormous structure of healthcare
infrastructure around the world. Patient pooling coupled with management of
internal affairs is likely to foster the healthcare infrastructure with the
influx of workforce management software.
Geographical segmentation for workforce
management industry include North America, South America, Europe, Asia-Pacific,
Middle East and Africa. North America dominates the market growth in the
forecast period due to technological advances and increase in technological
deployment projects on a large scale. Asia-Pacific’s market is expected to gain
a significant rise during the forecast period due to increase in technological
advances and availability of large population. Middle Eastern and African
markets are expected to gain a positive traction in the forecast period.
The key players in the workforce
management industry include Ceridian HCM Holding Inc, Oracle Corporation,
Active Ops Limited, Eg Solutions Inc, JDA Software Group Inc, Kronos Inc,
Replicon Inc, SISQUAL, and Reflexis System Inc.
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