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Global Workforce Management Software Market by Deployment and Geography - Forecast and Analysis 2021-2025

  • Published: Oct 2021
  • Pages: 120
  • SKU: IRTNTR44428
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The workforce management software market share is expected to increase by USD 2.13 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 11.29%.

This workforce management software market research report extensively covers workforce management software market segmentation by deployment (cloud-based and on-premise) and geography (North America, Europe, APAC, South America, and MEA). The workforce management software market report also offers information on several market vendors, including Automatic Data Processing Inc., Blue Yonder Group Inc., Ceridian HCM Holding Inc., International Business Machines Corp., Koch Industries Inc., Kronos Inc., Oracle Corp., Sage Group Plc, SAP SE, and Workday Inc. among others.

What will the Workforce Management Software Market Size be During the Forecast Period?

Global Workforce Management Software Market Size

Download the Free Report Sample to Unlock the Workforce Management Software Market Size for the Forecast Period and Other Important Statistics

 

Workforce Management Software Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The need for regulatory compliance is notably driving the workforce management software market growth, although factors such as the high implementation and maintenance costs may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the workforce management software industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Workforce Management Software Market Driver

Large organizations with a global presence need to comply with all the regulations enacted in their operating countries in addition to international regulations. Supporting regulatory compliance is vital for the long-term success of global companies that are regulated by the FDA and ISO. Therefore, with the implementation of workforce management software, end-users will be complying with industry and corporate quality and compliance standards. In the FDA and ISO environment, companies are required to implement and document employee activities to ensure that their performance is according to the industry and company best practices standards. Most of the vendors, such as ADP, offer compliance management feature that is integrated with workforce management software and easy to use, helping companies attain and sustain compliance every year.

Key Workforce Management Software Market Trend

The organizations are increasingly focusing on improving the employee experience by digitalizing HR processes and systems through new digital platforms. Technologies playing a key role in this transformation are mobile apps, social media, analytics, and the cloud. Digital HR technology provides a single platform for improving employee and candidate experience by integrating analytics, social media websites, mobile platforms, and cloud technologies. The integrated apps provide HRM features such as time and attendance management, appointment and meeting reminders, on-demand video learning for participants in a new project, messaging, and stress monitors. The workforce management software includes most features required for the digital transformation of HR processes. Thus, organizations have started to adopt workforce management software in their HR operations to improve the employee experience.

Key Workforce Management Software Market Challenge

The high price of deploying workforce management software is one of the major challenges in the market. The price of workforce management software includes the software licensing price, system designing and customization cost, implementation cost, training cost, and maintenance cost. After purchasing the software license, organizations need to hire IT staff for the proper implementation of the software. In addition, organizations need to train their employees on the efficient use of the application. Post-implementation of the workforce management software, continuous up-gradation is also required to keep pace with the current market trends.

This workforce management software market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

The growth in the global application software market will be driven by factors such as the increasing adoption of analytics in enterprises, increasing software investments by SMEs, and growing adoption of cloud- and subscription-based software. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the workforce management software market during the forecast period.

Who are the Major Workforce Management Software Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Automatic Data Processing Inc.
  • Blue Yonder Group Inc.
  • Ceridian HCM Holding Inc.
  • International Business Machines Corp.
  • Koch Industries Inc.
  • Kronos Inc.
  • Oracle Corp.
  • Sage Group Plc
  • SAP SE
  • Workday Inc.

 

This statistical study of the workforce management software market encompasses successful business strategies deployed by the key vendors. The workforce management software market is fragmented and the vendors are deploying growth strategies such as alliances and joint ventures to compete in the market.

Product Insights and News

  • Blue Yonder Group Inc. - The company offers BlueYonder potential software under workforce management solutions for workforce management.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The workforce management software market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Workforce Management Software Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the workforce management software market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the application software market includes the following core components:

  • Inputs
  • Software development process
  • Marketing and distribution
  • Post-selling services
  • Innovation

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

Which are the Key Regions for Workforce Management Software Market?

Global Workforce Management Software Market Market segmentation by region

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34% of the market's growth will originate from North America during the forecast period. The US is a key market for workforce management software in North America. However, the market growth rate in North America will be slower than the growth of the market in other regions.

Factors such as improved penetration of social media and high demand for cost-efficient HR solutions will facilitate the workforce management software market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

Several end-user sectors, such as companies, industries, and institutions, partially shut down their operations due to the pandemic in 2020. This led to a downturn in the economy and hindered trade in North America. It also resulted in a halt in operational processes, thus reducing the use of workforce management software solutions. Such measures hampered the potential growth of the market. However, some IT companies offered the work-from-home facility to their employees and gradually started opting for cloud-based workforce management software to manage their remote workforce. The increased adoption of cloud-based workforce management software is expected to drive the growth of the regional market during the forecast period. 

What are the Revenue-generating Deployment Segments in the Workforce Management Software Market?

Global Workforce Management Software Market Segmentation

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The workforce management software market share growth by the cloud-based segment will be significant during the forecast period. The cloud-based workforce management software segment is expected to grow at a rapid rate during the forecast period. This growth is due to the feature that enables cloud-based workforce management solutions to gather, store, and provide global information from a unified point of access. The information can easily be updated and is available anytime and anywhere. With cloud-based applications, enterprises can ensure reliability, gain visibility, and accommodate unique HR business requirements around the world. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the workforce management software market size and actionable market insights on post COVID-19 impact on each segment.

 

Workforce Management Software Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 11.29%

Market growth 2021-2025

$ 2.13 billion

Market structure

Fragmented

YoY growth (%)

10.24

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 34%

Key consumer countries

US, Germany, India, UK, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Automatic Data Processing Inc., Blue Yonder Group Inc., Ceridian HCM Holding Inc., International Business Machines Corp., Koch Industries Inc., Kronos Inc., Oracle Corp., Sage Group Plc, SAP SE, and Workday Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Workforce Management Software Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive workforce management software market growth during the next five years
  • Precise estimation of the workforce management software market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the workforce management software industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of workforce management software market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Deployment

    • Market segments
    • Comparison by Deployment
    • Cloud-based - Market size and forecast 2020-2025
    • On-premise - Market size and forecast 2020-2025
    • Market opportunity by Deployment

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • North America - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • APAC - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Automatic Data Processing Inc.
      • Blue Yonder Group Inc.
      • Ceridian HCM Holding Inc.
      • International Business Machines Corp.
      • Koch Industries Inc.
      • Kronos Inc.
      • Oracle Corp.
      • Sage Group Plc
      • SAP SE
      • Workday Inc.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
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      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
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      Workforce Management Software market growth will increase by $1596.79 million during 2019-2024.
      The workforce management software market is expected to grow at a CAGR of 8.27% during 2019-2024.
      Technavio has segmented the workforce management software market by deployment (Cloud-based and On-premise) and geographic (North America, Europe, APAC, South America, and MEA).
      Automatic Data Processing Inc., Blue Yonder Group Inc., Ceridian HCM Holding Inc., Infor Inc., International Business Machines Corp., Kronos Inc., Oracle Corp., Sage Group Plc, SAP SE, Workday Inc. are a few of the key vendors in the workforce management software market.
      North America will register the highest growth rate of 44.48% among the other regions. Therefore, the workforce management software market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the workforce management software market growth are:
      • Increased HR software budgets
      • High utilization of social media
      The workforce management software market vendors should focus on grabbing business opportunities from the segment as it accounted for the largest market share in the base year.
      • What are the key global market and the regional market share?
      • What are the revenue-generating key market segments?
      • What are the key factors driving and challenging this market’s growth?
      • Who are the key market vendors and their growth strategies?
      • What are the latest trends influencing the growth of this market?
      • What are the variables influencing the market growth in the primary regions?
      • What are the factors influencing the growth of the parent market?
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