A recent report on Workforce Management Market provides a detailed analysis of the industry size, revenue forecasts and geographical landscape pertaining to this business space. Additionally, the report highlights primary obstacles and the latest growth trends accepted by key players that form a part of the competitive spectrum of this business.
Workforce Management Market is valued at USD 5874.56Million in 2018 and expected to reach USD 11817.11Million by 2025 with the CAGR of 10.5% over the forecast period.
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Workforce management is the process of scheduling and organizing business’s labor force as efficiently and effectively as possible. It is often utilizes workforce management software to automate some processes and enable employee self-service and also used to increase overall efficiency and productivity among employees. There are numbers of solutions which used to support workforce management such as time & attendance management, leave and absence management, workforce scheduling, workforce analytics and others.Workforce management (WFM) used in apply in various applications including effective staffing, forecasting, scheduling and real-time adjustments required for organization to be as efficient as possible. By using correct technology, processes and procedures, users can effectively manage workforce for optimal performance and lowered labor costs.Workforce management solutions consist of leave and absence management, time and attendance, workforce analytics, workforce scheduling and others including task management.
Workforce management market report is segmented on the basis of component,solution, service, deployment type, organization size industry verticaland by regional & country level.Based uponcomponent, workforce management market is classified intosolutions and services.Based upon solution,workforce management market is classified into time and attendance management, leave and absence management, workforce scheduling, workforce analytics, others (fatigue management and task management).Based upon service, workforce management market is classified intoconsulting, implementation and training, support and maintenance. Based upon deployment type, workforce management market is classified intoon-premises and cloud.Based upon organization size, workforce management market is classified intolarge enterprises and small and medium-sized enterprises (SME’s).Based upon industry vertical, workforce management market is classified intogovernment and defence, banking, financial services, and insurance (BFSI), IT and telecom, healthcare, retail, manufacturing, energy and utilities and others (including education, media and entertainment, and travel and transportation).
The regions covered in this workforce management market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of workforce management is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players Workforce Management Market Reports-
Workforce management market report covers prominent playersareSAP SE, Oracle Corporation, Nice Systems, Active Ops Limited, Nice Systems Inc., Kronos Incorporated, Verint , Workforce Software Group Inc., Ramco Systems TimeClock Plus, Replicon , Mark Information ,Oracle, ATOSS, NICE, Ultimate Software, Kronos , ADP, SAP , IBM ,Workday, Reflexis Systems ,SumTotal , Infor , Meta4 , Ceridian and Others.
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Verint Reimagines Cloud Workforce Management to Deliver World-Class Solution That Meets the Evolving Needs of Customers and Employees
News:November 18, 2019,Verint® Systems Inc., The Customer Engagement Company™, announced the release of a new Workforce Management solution, which controls artificial intelligence-infused automation and new mobile tools to streamline forecasting and scheduling and increase employee engagement, all easily accessible via the Verint Cloud.Workforce management solution offersuser experience incredibly intuitive,redesigned modern that simplifies scheduling with fewer clicks and screens. It is used to making common tasks more efficient for workforce managers and simplifying the path to proficiency for new users. This solution decreases time and effort, user skills and multilingual capabilities, taking into account sick and overtime employees, time zone variations, employment requirements and service level agreements (SLAs).
Verint® Systems Inc., The Customer Engagement Company™, announced the release of a new Workforce Management solution, which leverages artificial intelligence-infused automation and new mobile tools to streamline forecasting and scheduling and improve employee engagement, all easily accessible via the Verint Cloud. It offers a redesigned, incredibly intuitive, modern, user experience that streamlines scheduling with fewer clicks and screens, making common tasks more efficient for workforce managers and simplifying the trail to proficiency for new users. This solution reduces time and effort, user skills and multilingual capabilities, taking into account sick and overtime employees, time zone variations, employment requirements and service level agreements (SLAs).
Workforce Management Market Dynamics –
Growing labour force rapidly across the world is drivingfactorfor the growth of globalworkforce management market.According to ODI report, globally, 3.45 billion people are inthe labour force. In addition,Growing adoption of workforce management solution by small and medium sized enterprises (SMSE) and growing demand for workforce optimization and mobile applications are the key factors demanding for workforce management market.Moreover, increasing adoption for workforce management solutionsand services across various sectorsis expected to fueling market growth in the forcast period.However,higher innovation cost of workforce management solution, lack of awareness among small enterprises and consumers regarding the need for labour managementsolution, these factors will hamper the growth of market.Moreover, adoption of technological advancements in healthcare, entertainment, manufacturing, automotive sectors and increasing mobile application users, raising awareness regarding the innovative workforce management solution technologies is predicted to create wide opportunities for the players operating in the workforce management market during forecast period.
Workforce Management Market Regional Analysis –
North America is dominating the workforce management market with the potential rate due to rising demand for workforce optimization and mobile applications utilization in telecom industry,bank sectors,presence of leading players in the region. Also, media and entertainment sectors are driving the growth of the global workforce managementmarket. For instance, Kronos is one of the leading vendors in U.S in the workforce management market.In the market, Kronos offers the Workforce Central Suite and Workforce Dimension Suite. These suites provide to various organizations for several business needssuch as forecasting and scheduling, time and attendance, labour activities, absence management, analytics, and data collection.
The Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period with due to increasing mobile application users,growing need for intelligent workforce management solutions. Moreover, developing strong technology infrastructure in developing countries such as China and India. These are one of the major factors driving the workforce management market growth during forcast period.Moreover, increasing government initiative towards labour management will increase demand for workforce management in forecast period.
Key Benefits for Workforce Management Market Reports –
Global Market report covers in depth historical and forecast analysis.
Global Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global Market report helps to identify opportunities in market place.
Global Market report covers extensive analysis of emerging trends and competitive landscape.
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Workforce Management Market Segmentation –
By Component:SolutionsServices
By Solution:Time and Attendance ManagementLeave and Absence ManagementWorkforce SchedulingWorkforce AnalyticsOthers (Fatigue Management and Task Management)
By Service:ConsultingImplementationTraining, Support and Maintenance
By Deployment Type:On-PremisesCloud
By Organization Size:Large EnterprisesSmall and Medium-sized Enterprises (SMEs)
By Industry Vertical:Government and DefenceBanking, Financial Services, and Insurance (BFSI)IT and TelecomHealthcareRetailManufacturingEnergy and UtilitiesOthers (including education, media and entertainment, and travel and transportation)
By Regional & Country Analysis: (North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa)
Table of Content
1 Study Coverage 1.1 Workforce Management Product 1.2 Key Market Segments in This Study 1.3 Key Manufacturers Covered 1.4 Market by Type 1.5 Market by Application 1.6 Study Objectives 1.7 Years Considered
2 Executive Summary2.1 Global Workforce Management Market Size2.2 Workforce Management Growth Rate (CAGR) 2020-20252.3 Analysis of Competitive Landscape2.4 Key Trends for Workforce Management Markets & Products
3 Market Size by Manufacturers3.1 Workforce Management Production by Manufacturers3.2 Workforce Management Revenue by Manufacturers3.3 Workforce Management Price by Manufacturers 3.4 Mergers & Acquisitions, Expansion Plans
4 Workforce Management Production by Regions4.1 Global Workforce Management Production by Regions4.2 North America4.3 Europe4.4 China4.5 Japan
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