DUBLIN–(BUSINESS WIRE)–The “Workforce Management Software Market – Growth, Trends, COVID-19 Impact, and Forecast (2021-2026)” report has been added to from ResearchAndMarkets.com offer.
Global Workforce Management Software Market was valued at USD 7.03 Billion in 2020 and is projected to reach USD 9.93 Billion by 2026, registering a CAGR of 6.38% during the period 2021-2026.
With the COVID-19 pandemic forcing more people to work remotely, remote workforce management software has become essential for businesses as this software can help manage workforce effectively. works remotely.
COVID-19 has highlighted the importance of WFM solutions across multiple industries, especially in healthcare worker situations. Needing some best practices to keep nurses engaged, applications such as task scheduling and patient enumeration forecasting, planning and managing full-time vs. part-time nurses, and implementation of nursing teams were emphasized while offering WFM solutions to healthcare. sector.
According to a study conducted by Dell and Intel on current trends in workplaces around the world, although employees are generally satisfied with their current jobs, they are increasingly dissatisfied with the reporting and communication processes adopted by their organizations. Changing needs in the workplace further exacerbate this problem. Employees are no longer expected to work a conventional 9 a.m. to 5 p.m. schedule due to the diversification of work practices.
Previously, resource management was done manually or through spreadsheets, which was time-consuming and led to discrepancies in data. Introducing IoT in workforce management software makes work easier by enhancing technological capabilities. This is expected to drive the growth of the workforce management software market over the forecast period.
Analytical solutions allow companies to increase their bottom line and return on investment by projecting future trends and extrapolating possible outcomes based on “what-if” scenarios. Collaboration between partners, such as vendors, suppliers, and customers, becomes easier by discovering new information. The success of any implemented plan can also be measured using analytical solutions.
Main market trends
Cloud to witness the strongest growth
North America is expected to hold a dominant share
The workforce management software market is fragmented as it becomes increasingly important for organizations to keep their workforce motivated and organized in the current competitive scenario. This is to ensure optimum productivity, which is important to keep up with the changing times. Companies such as Oracle, NICE Systems, Infor and SISQUAL are launching a wide range of innovative workforce management solutions, with advanced capabilities and features, that meet the traditional needs of contact centers, back -offices and branches.
April 2021 – On April 16, Authority Software announced the launch of Authority Workforce Management; its applications include quality records management, customer relationship management, and rapid application development.
January 2021 – Trax has partnered with Blue Yonder to launch dynamic workforce management software for retailers and distribution centers to track real-time demand visibility and a workforce flexible and skilled work to solve store problems quickly and at scale.
Main topics covered
1.1 Study assumptions and market definition
1.2 Scope of the study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness – Porter’s Five Forces Analysis
4.3 Market Drivers
4.3.1 Growing Adoption of Internet of Things (IoT) and Cloud-Based Solutions Expands the Market
4.3.2 Growing Adoption of Analytics Solutions and WFM by SMBs Drives Market Growth
4.4 Market Constraints
4.4.1 Implementation and integration issues that hinder the market
4.5 Assessment of the impact of COVID-19 on the industry
5 MARKET SEGMENTATION
5.1.1 Workforce planning and workforce analysis
5.1.2 Time and attendance management
5.1.3 Performance and target management
5.1.4 Management of absences and leave
5.1.5 Other software (fatigue management, task management, etc.)
5.2 Deployment mode
5.3 Vertical End User
5.3.2 Consumer goods and retail
5.3.4 Energy and utilities
5.3.7 Other end user industries
5.4.1 North America
5.4.4 Latin America
5.4.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 International LLP active operations management
6.1.2 NICE Systems Ltd.
6.1.3 Oracle Corporation
6.1.4 Infor Group
6.1.5 Kronos Embedded
6.1.6 Reflexis Systems Inc.
6.1.8 Workday Inc.
6.1.9 Workforce Software LLC
6.1.10 Blue Yonder Group Inc.
6.1.11 ServiceMax Inc.
6.1.12 Kirona Solutions Limited
6.1.13 7 teams
6.1.14 IBM Company
6.1.15 SAP OS
6.1.16 ADP LLC
6.1.17 Atoss Software AG
6.1.18 Mitrefinch Ltd
6.1.19 Sage Group plc
6.1.20 Rubler UK Limited Company
6.1.21 Tamigo UK Ltd
7 INVESTMENT ANALYSIS
8 FUTURE OF THE MARKET
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