Workforce Management Market, By Deployment, By End User, By Component, By Application, By Geography

Description

Global workforce management market is estimated to be valued at USD 11.11 Bn in 2024 and is expected to reach USD 13.92 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 3.3% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	11.11 Bn
Historical Data for:	2019 to 2023	Forecast Period:	2024 to 2031
Forecast Period 2024 to 2031 CAGR:	3.30%	2031 Value Projection:	13.92 Bn

Figure. Workforce Management Market Share (%), By Region 2024

The workforce management market has witnessed significant growth in the recent years owing to growing digitization of various businesses and the need for efficient workforce scheduling and optimization. Workforce management involves planning, forecasting, scheduling, tracking, and optimizing the work done by employees across an organization. It helps businesses in increasing productivity, reducing labor costs and improving customer experience. With increasing complexity in business operations and evolving workforce expectations, businesses are looking at advanced workforce management tools and solutions to centrally manage their dynamic workforce. This is expected to drive the demand for workforce management systems in the coming years.

Market Dynamics

The global workforce management market is driven by the need for optimized scheduling of human resources and the demand for improved operational efficiency. Majority of businesses now operate on a 24/7 basis with complex scheduling needs. This has increased the demand for automated workforce management tools that can centrally manage employee shifts, holidays, vacations, and other leave requests. They help in ensuring sufficient staffing for smooth operations. Moreover, the capabilities of workforce analytics solutions allow businesses to match employee skills with task requirements, forecast labor demand, and right size headcount according to business needs. However, high initial investment and integration costs associated with deploying workforce management systems are expected to restrain market growth. On the positive side, the growing adoption of cloud-based workforce management solutions owing to their cost benefits and capability to be accessed from anywhere is expected to create new opportunities in the market.

Key Features of the Study:

This report provides in-depth analysis of the global workforce management market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the global workforce management market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include Kronos, Inc., Oracle Corporation, SAP SE, Automatic Data Processing, Inc.,Workday, Inc. WorkForce Software, LLC., Ultimate Software, Cornerstone OnDemand, Inc. IBM Corporation, Verint, Infor, and NetSuite, Inc.

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

The global workforce management market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global workforce management market

Market Segmentation

By Deployment Insights (Revenue, USD Bn, 2019 - 2031)
- On-Premise
- Cloud
By End User Insights (Revenue, USD Bn, 2019 - 2031)
- BFSI
- Media and Entertainment
- Retail and E-commerce
- IT and Telecom
- Government
- Healthcare
- Transportation and Logistics
- Others
By Component Insights (Revenue, USD Bn, 2019 - 2031)
- Software
- Services
By Application Insights (Revenue, USD Bn, 2019 - 2031)
- Workforce Analytics
- Workforce Scheduling
- Time and Attendance Management
- Others
Regional Insights (Revenue, USD Bn, 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
Key Players Insights
- Kronos, Inc.
- Oracle Corporation
- SAP SE
- Automatic Data Processing, Inc.
- Workday, Inc.
- WorkForce Software, LLC.
- Ultimate Software
- Cornerstone OnDemand, Inc.
- IBM Corporation
- Verint
- Infor
- NetSuite, Inc.

Product Code: CMI7513

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Workforce Management Market, By Deployment
- Workforce Management Market, By End User
- Workforce Management Market, By Component
- Workforce Management Market, By Application
- Workforce Management Market, By Region

3. Market Dynamics, Regulations, And Trends Analysis

Market Dynamics
Impact Analysis
Key Highlights
Regulatory Scenario
Product Launches/Approvals
PEST Analysis
PORTER's Analysis
Merger and Acquisition Scenario
Industry Trends

4. Workforce Management Market, By Deployment, 2019-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
On-Premise
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Cloud
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)

5. Workforce Management Market, By End User, 2019-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
BFSI
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Media and Entertainment
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Retail and E-commerce
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
IT and Telecom
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Government
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Healthcare
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Transportation and Logistics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)

6. Workforce Management Market, By Component, 2019-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Software
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Services
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)

7. Workforce Management Market, By Application, 2019-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Workforce Analytics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Workforce Scheduling
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Time and Attendance Management
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)

8. Global Workforce Management Market, By Region, 2019 - 2031, Value (USD Bn)

Introduction
- Market Share (%) Analysis, 2024,2027 & 2031, Value (USD Bn)
- Market Y-o-Y Growth Analysis (%), 2020 - 2031, Value (USD Bn)
- Regional Trends
North America
- Introduction
- Market Size and Forecast, By Deployment, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End User, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Component, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
  - U.S.
  - Canada
Latin America
- Introduction
- Market Size and Forecast, By Deployment, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End User, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Component, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Europe
- Introduction
- Market Size and Forecast, By Deployment, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End User, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Component, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
  - Germany
  - U.K.
  - Spain
  - France
  - Italy
  - Russia
  - Rest of Europe
Asia Pacific
- Introduction
- Market Size and Forecast, By Deployment, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End User, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Component, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
  - China
  - India
  - Japan
  - Australia
  - South Korea
  - ASEAN
  - Rest of Asia Pacific
Middle East
- Introduction
- Market Size and Forecast, By Deployment, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End User, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Component, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
  - GCC Countries
  - Israel
  - Rest of Middle East
Africa
- Introduction
- Market Size and Forecast, By Deployment, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End User, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Component, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country/Region, 2019 - 2031, Value (USD Bn)
  - South Africa
  - North Africa
  - Central Africa

9. Competitive Landscape

Kronos, Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Oracle Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
SAP SE
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Automatic Data Processing, Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Workday, Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
WorkForce Software, LLC.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Ultimate Software
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Cornerstone OnDemand, Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
IBM Corporation
Verint
Infor
NetSuite, Inc.

10. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

11. References and Research Methodology

References
Research Methodology
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