Hyderabad, July 28, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Workforce Management Software Market Report (2023-2028)," the market is estimated at USD 8.06 billion in 2023. It is expected to register a CAGR of 6.07% during the forecast period.
A workforce management software enables an organization to make plans for data usage more efficiently. It allows them to create custom workflows, which helps them preserve data integrity and improve decision-making.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 8.06 billion |
| Market Size (2028) | USD 10.82 billion |
| CAGR (2023-2028) | 6.07% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Rise in the induction of remote work during the COVID-19 pandemic. |
| Diversification in work practices. |
Which are the Top Companies in the Global Workforce Management Software Market?
The workforce management software market is highly fragmented in nature. The players in the market can organize their workforce even in competitive scenarios.
The most significant players in the global workforce management software market are,
- ActiveOps PLC
- NICE Ltd.
- Oracle Corporation
- Infor Group
- UKG Inc.
- Reflexis Systems Inc.
- SISQUAL Workforce Management Lda
- Workday Inc.
- WorkForce Software LLC
- Blue Yonder Group Inc. (Panasonic Corporation)
- ServiceMax Inc.
- Advanced Computer Software Group Limited
- 7shifts Employee Scheduling Software Inc. (7shifts)
- IBM Corporation
- SAP SE
- ADP LLC
- Atoss Software AG
- Mitrefinch Ltd (Advanced Computer Software Group Limited)
- Sage Group plc
- Roubler Australia Pty Ltd
- tamigo ApS
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Key Highlights from the Global Workforce Management Software Market Report:
The Cloud-based Segment to Experience Maximum Growth
- Users of management software can enjoy a huge array of benefits, such as security, flexibility, and mobility, by implementing cloud computing.
- The functionalities of organizations are present in the cloud, which allows data modification and duty allocation, regardless of the administrator’s location.
North America is Expected to Dominate the Market
- A major relief for local business owners in the region is the rising productivity of the employees, which is made possible by workforce management solutions. This has boosted the interest of other business leaders significantly.
- The United States and Canada contribute substantially to the demand for workforce management solutions as they often employ remote workers.
What are the Latest Developments in the Global Workforce Management Software Market?
- In March 2022, a strategic partnership was announced between ReturnSafe and ActiveOps. Through this, ActiveOps planned to combine its planning solutions and hybrid workforce intelligence with ReturnSafe’s vaccination, testing, and case management abilities.
- In February 2022, iCIMS and Infor announced a strategic partnership to deliver next-generation talent to industries like healthcare all throughout North America.
Mordor Intelligence has Segmented the Global Workforce Management Software Market Based on Type, Deployment Mode, End-user Vertical, and Geography:
- By Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Workforce Scheduling and Workforce Analytics
- Time and Attendance Management
- Performance and Goal Management
- Absence and Leave Management
- Other Software (Fatigue Management, Task Management, etc.)
- By Deployment Mode (Market Size and Forecast based on Value (USD billion), 2018-2028)
- On-premise
- Cloud
- By End-user Vertical (Market Size and Forecast based on Value (USD billion), 2018-2028)
- BFSI
- Consumer Goods and Retail
- Automotive
- Energy and Utilities
- Healthcare
- Manufacturing
- Other End-user Verticals
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Workforce Management Software Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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