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.
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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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