IMARC Group, a leading market research company, has recently releases report titled “Workforce Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global workforce management market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the workforce management market?
Report Attributes
Details
Market Size in 2022
US$ 5.5 Billion
Market Forecast in 2028
US$ 9.8 Billion
Growth rate (2023 to 2028)
CAGR of 10.5%
Base Year of the Analysis
2022
Forecast Period
2023-2028
What is workforce management?
Workspace-as-a-service (WaaS) represents a desktop virtualization solution utilized by enterprises to provide their employees with access to computer-generated business setup and organization data from remote locations. This service presents a simulated workspace that is identical to the physical office desktop. WaaS can be used with computers, smartphones, and laptops and integrated with bring your own apps (BYOA), bring your own devices (BYOD), and bring your own cloud (BYOC) solutions to minimize the risks of security breaches. It offers various other benefits, such as enhanced work-life balance, simplified file storage, increased employee productivity, a consistent working environment, and reduced operations costs. As a result, WaaS finds widespread applications across small-, medium-, and large-sized enterprises.
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What are the growth prospects and trends in the workforce management industry?
The emerging trend of digitization across several industries, including retail, manufacturing, banking, financial services and insurance (BFSI), healthcare, and education, is among the primary factors driving the workspace-as-a-service (WaaS) market. Besides this, the escalating demand for cost-effecting virtual desktop virtualization and automation solutions is further augmenting the market growth. Moreover, WaaS enables the enterprises to facilitate logins from multiple users onto a virtual server and provide effective resource provisioning, load balancing, and network management capabilities, which is also catalyzing the global market. Apart from this, the extensive research and development (R&D) activities and the expanding information technology (IT) infrastructure are acting as significant growth-inducing factors. Additionally, the integration of connected devices with cloud computing systems and the internet of things (IoT) is also stimulating the market growth. Furthermore, the increasing utilization of digital business channels by various organizations to provide scalable workplace solutions on the personal devices of the employees and enhance the overall operational efficiency is expected to bolster the workspace-as-a-service (WaaS) market in the coming years.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Solution:
- Absence Management
- Performance Management
- Workforce Scheduling
- Time and Attendance Management
- Workforce Analytics
- Others
Breakup by Service:
- Implementation Services
- Support and Maintenance Services
- Training and Education Services
Breakup by Deployment Type:
- Cloud-based
- On-premises
Breakup by Organization Size:
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
Breakup by Vertical:
- Government and Defense
- Banking, Financial Services, and Insurance (BFSI)
- Healthcare
- Transportation and Logistics
- Telecom and IT
- Consumer Goods and Retail
- Manufacturing
- Energy and Utilities
- Others
Breakup by Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- ADP
- Atoss Software AG
- HotSchedules Inc.
- Huntington Business Systems
- IBM
- Kronos Inc.
- Oracle Corporation,
- Reflexis Systems,
- SAP SE
- Ultimate Software Group Inc.
- Verint Systems
- Workday Inc.
- WorkForce Software LLC
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