The
global workforce management market is expected to reach USD 11.09 billion by
2025, according to a new study by Grand View Research, Inc. Globalization, a
younger and more diverse workforce, and the growing use of digitalization in
day-to-day operations of organizations are anticipated to aid the growth of the
workforce management market in coming years. The demand for interaction and
integration in daily operations and the necessity to operate as a unified
enterprise are further driving technological as well as social advancements in
companies worldwide.
Workforce
management is a multi-faceted solution which has enabled prominent changes and
generated significant paybacks, both in terms of revenue and ease of usage, and
it continues to evolve even today. The increasing adoption of mobile devices is
expected to play a vital role in the industry as numerous companies have cited
a keen interest in enhancing their mobile capabilities in the near future. In
addition, the absence & leave management solutions are also anticipated to
witness a surge in demand as organizations across the world embrace digital
tracking at a rapid rate.
In depth research report on Workforce Management
Market
While
the overall demand for workforce management solutions is growing, resistance to
change and training employees to adapt to new technologies may act as
hindrances in the growth trajectory for a couple of years. The role of
management solutions in HR is shifting from administration to planning and
analysis wherein the major development focus would be on data gathering and
analytical tools. As the industry matures, a greater influx of big data and
mobility into mainstream solutions can be expected to define the market
direction.
As
workforce management solutions continue to gain traction in the industry, there
would be a profound effect on the biometric terminals used for time &
attendance applications. Furthermore, the adoption of cloud and
Software-as-a-Service (SaaS) will also drive the replacement of legacy systems
with modern and enhanced solutions to better stimulate workforce integration.
To sum up the industry developments, trends such as agility, employee
engagement, data gathering and analysis, and the use of HR as a strategic
pillar of the organization will propel the market in coming years.
Grand
View Research has segmented the global workforce management market based on
solution, deployment, company size, application, and region:
Solution Scope (Revenue, USD Million; 2014 - 2025)
·
Workforce Scheduling
·
Time & Attendance
Management
·
Embedded Analytics
·
Absence Management
·
Others
Deployment Scope (Revenue, USD Million; 2014 - 2025)
·
Cloud
·
On-premise
Company Size Scope (Revenue, USD Million; 2014 -
2025)
·
Large Enterprises
·
Small and Medium Enterprises
(SMEs)
Application Scope (Revenue, USD Million; 2014 -
2025)
·
Academia
·
Automotive & Manufacturing
·
BFSI
·
Government
·
Healthcare
·
Retail
·
Others
Regional Outlook (Revenue, USD Million; 2014 - 2025)
·
North America
·
U.S.
·
Canada
·
Europe
·
UK
·
Germany
·
Asia Pacific
·
China
·
India
·
Japan
·
Latin America
·
Brazil
·
Middle East & Africa (MEA)
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About Grand View
Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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