Workforce Management (WFM) Market Worth USD 9 Billion by 2022
The global workforce management market is expected to reach USD 9 billion by the end of 2022 with ~11% CAGR during forecast period 2016-2022
Pune, Maharashtra -- (SBWire) -- 05/02/2017 --Global Workforce Management Market, By Component (Solutions, Service), By Deployment Type (On-Premises, Cloud-based), By End-users (BFSI, Healthcare, Retail and ecommerce, Manufacturing, Government, Telecommunications and IT), By Organization size (SME, Enterprises)- Forecast 2022
The global workforce management market is poised to reach at market size of USD ~9 billion by end of year 2022 at growing with ~11% CAGR. The growth in the Workforce Management Market is driven by reduction of labor expenses; improve workforce utilization & business performances, increased focus on workforce optimization and mobile applications. Increasing number of medium and small enterprises in the emerging market is fuelling the growth of the market. The workforce management solution enables organizations to run various complex analytics on workforce processes to find problems and rectify them and hence ensure better use of existing resources.
However, the issues such as lack of awareness among small firms in certain developing countries and high training cost associated with workforce management solutions are affecting the growth of the workforce management market.
The market has various benefits for end-users such as enables the organizations to find insights from key operational data types. Hence, the increasing use of workforce analytics and various strategies for workforce management in organizations are boosting the growth of the market. Various firms have been giving high importance to optimize workforce outcome by increasing the demand for performance management and workforce analytics solution.
-IBM Corporation (U.S.)
-Oracle Corporation (U.S.)
-SAP AG (Europe)
-Workforce Software (U.S.)
-ADP LLC (U.S.)
-Infor Global Solution (India)
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Workforce Management Market
The workforce management market can be segmented into its components, deployment, end-users and regions. On the basis of components, it can be categorized into two types such as namely solutions and services. Among the various types of solutions, workforce analytics solutions accounted for the largest market share majorly due to the increasing workforce productivity and develop strategies for work force management in organizations. Also, various companies have been giving high importance to optimize workforce outcome by increasing the demand for performance management and workforce analytics solution.
Various end users of workforce management market comprise of BFSI, healthcare, retail & e-commerce, telecommunications among others. The market is also widely used in small, medium and large enterprises. SMEs accounted of the largest market share majorly due to technological transition through collaborations with social media, real-time solutions, and the usage of mobile devices.
-Workforce Management Manufacturers
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Market Research Future Analysis
The global workforce management market is expected to grow significantly. The market is highly application basis. BFSI and healthcare segment of workforce management market globally drives the market. The market is expected to have higher growth rate as compared to the previous years.
Europe accounted for the largest market share majorly due to high focus on innovations through research & development, high investments to adopt smart technologies & workforce management solutions. The North-American region is expected to grow at a fast pace over the forecast period, 2016-2022, majorly due to growing adoption of IoT, increasing adoption of new and emerging technologies, increasing number of small medium business and increasing number of users in the emerging markets.
The global industrial automation market is expected to grow at USD ~3.1 Billion by 2022, at ~22% of CAGR between 2016 and 2022. https://www.marketresearchfuture.com/reports/network-analytics-market-2387
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