NEW YORK, Jan. 5, 2024 /PRNewswire/ -- The Workforce Management Software Market report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the workforce management software market between 2022 and 2027 is USD 2.30 billion. The need for regulatory compliance is driving the market growth. Large organizations need to comply with the regulations enacted in the countries where they operate as well as international regulations. According to the FDA and ISO, companies have to implement and document employee activities. Most vendors, such as ADP, offer compliance management feature that is integrated with workforce management software. It is easy to use, which helps companies attain and sustain compliance every year. Therefore, regulatory compliance is expected to fuel the growth of the global workforce management software market during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here
- Market Challenge -
- High implementation and maintenance costs are challenging the market growth.
- The price of workforce management software includes the software licensing price, system designing and customization cost, implementation cost, training cost, and maintenance cost.
- Organizations also need to hire IT staff for the implementation of the software.
- In addition, they need to train their employees on the use of the application.
- Continuous upgrades are also required to keep pace with the current market trends.
- Learn about additional key drivers, trends, and challenges available with Technavio. Read Sample PDF Report Now
The workforce management software market is segmented by Deployment (Cloud-based and On-premise), End-user (IT and telecom, BFSI, Healthcare, Manufacturing, and Others), and Geography (North America, Europe, APAC, Middle East and Africa, and South America).
- The cloud-based segment will account for a significant share of the market growth during the forecast period. Cloud-based workforce management solutions gather, store, and provide global information from a unified point of access, which is driving the growth of this segment. Cloud-based applications help enterprises to ensure reliability, gain visibility, and accommodate unique HR business requirements across the world.
- North America is estimated to account for 36% of the growth of the global market during the forecast period. View a Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.
Key Companies in the Workforce Management Software Market:
ATOSS Software AG, Automatic Data Processing Inc., Bamboo HR LLC, Blue Yonder Group Inc., Ceridian HCM Holding Inc., International Business Machines Corp., Koch Industries Inc., Kronos Inc., NICE Ltd., Oracle Corp., Paycor Inc., Performly International Inc., Reflexis Systems Inc., Rippling People Center Inc., Sage Group Plc, SAP SE, UKG Inc., Verint Systems Inc., Workday Inc., Zoho Corp. Pvt. Ltd.
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Workforce Management Software Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.82% |
Market growth 2023-2027 |
USD 2.31 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
5.9 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 36% |
Key countries |
US, Canada, China, UK, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
ATOSS Software AG, Automatic Data Processing Inc., Bamboo HR LLC, Blue Yonder Group Inc., Ceridian HCM Holding Inc., International Business Machines Corp., Koch Industries Inc., Kronos Inc., NICE Ltd., Oracle Corp., Paycor Inc., Performly International Inc., Reflexis Systems Inc., Rippling People Center Inc., Sage Group Plc, SAP SE, UKG Inc., Verint Systems Inc., Workday Inc., and Zoho Corp. Pvt. Ltd. |
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 the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Deployment
Market Segmentation by End-user
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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