Workforce Management Market by Component, Solution (Time and Attendance Management, Workforce Scheduling, Leave and Absence Management), Service, Deployment Type, Organization Size, Vertical, and Region - Global Forecast to 2025
The global Workforce Management Market size is projected to reach USD 9.3 billion by 2025, at a CAGR of 9.3% during the forecast period. The growing demand for workforce optimization and mobile applications is one of the major factors expected to drive the growth of this market.
Consumer goods and retail segment to grow at the highest CAGR during the forecast period
The consumer goods and retail vertical needs to gain more visibility and control over diversified and mixed workforce consisting of in-store employees, drivers, and field service providers, both internally and externally. The vertical is evolving and expected to grow rapidly in terms of technological changes, customer needs, and employment. With such complexities, the retail sector needs to focus on employee training, time and attendance, labor analytics, forecasting, and scheduling optimization. Workforce management solutions help solve these complexities by the proper utilization of resources through the power of big data and provides mobile solutions for budgeting, forecasting, and managing employee tasks.
Solutions segment to hold a larger market size during the forecast period
Workforce management solutions are rapidly changing owing to the transformation of traditional solutions into IT and technological solutions. The workforce management market provides various solutions to simplify the work of the employees in organizations and provide them time to focus on more significant business aspects. The solutions provided by the market help in not only simplifying the working of the employees but also in better streamlining of the workforce. Workforce management solutions include time and attendance, leave and absence management, workforce scheduling, workforce analytics, and others including fatigue management and task management, which help in maintaining various Human Resources (HR) activities and data analyzing for core business processes.
North America to hold the largest market size during the forecast period
North America is expected to hold the largest market size in the global workforce management market, while Asia Pacific (APAC) is likely to grow at the highest CAGR during the forecast period. North America is expected to be the leading region in terms of adopting workforce management solutions and services. The US and Canada are expected to be the major contributors to the North American market. Enterprises in the region are the most progressive in terms of the adoption of Artificial Intelligence (AI), Machine Learning (ML), and cloud adoption, thereby boosting the growth of the market. Moreover, the presence of major workforce management vendors in the region to drive market growth. The Asia Pacific (APAC) region is expected to be the fastest-growing region in the market, due to the growing need for intelligent workforce management solutions.
Workforce Management Companies
Major vendors in the global workforce management market include Oracle (US), Kronos (US), ADP (US), SAP (Germany), Ultimate Software (US), WorkForce Software (US), IBM (US), Workday (US), Ceridian (US), Verint (US), Reflexis Systems (US), ATOSS (Germany), NICE (US), SumTotal (US), Infor (US), Meta4 (Spain), Ramco Systems (India), TimeClock Plus (US), Replicon (US), and Mark Information (Denmark). These vendors have adopted various organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to expand their presence in the global market further.
Kronos (US) is recognized as one of the leading vendors in the workforce management market. Kronos workforce management solutions help organizations to manage and engage the entire workforce life cycle from pre-hiring to retirement. The company’s strong product portfolio helps it gain significant traction in the market. In the market, Kronos offers the Workforce Dimension Suite and Workforce Central Suite. These suites cater to various organizations for several business needs, including, time and attendance, forecasting and scheduling, absence management, labour activities, analytics, and data collection.
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Scope of the Report
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Report Metrics |
Details |
|
Market size value in 2020 |
USD 6.0 Billion |
|
Market size value in 2025 |
USD 9.3 Billion |
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Growth rate |
CAGR of 9.3% |
|
Market size available for years |
2018–2025 |
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Base year considered |
2019 |
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Forecast period |
2020–2025 |
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Forecast unit |
Value (USD Million) |
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Segments covered |
Component, Solution, Service, Deployment Type, Organization Size, Vertical, and Region |
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Geographies covered |
North America, Europe, APAC, MEA, and Latin America |
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List of Companies in Workforce Management |
The report includes 20 major vendors: Oracle (US), Kronos (US), ADP (US), SAP (Germany), Ultimate Software (US), WorkForce Software (US), IBM (US), Workday (US), Ceridian (US), Verint (US), Reflexis Systems (US), ATOSS (Germany), NICE (US), SumTotal (US), Infor (US), Meta4 (Spain), Ramco Systems (India), TimeClock Plus (US), Replicon (US), and Mark Information (Denmark). |
This research report categorizes the workforce management market to forecast revenues and analyze trends in each of the following submarkets:
By Component:
- Solutions
- Services
By Solution:
- Time and Attendance Management
- Leave and Absence Management
- Workforce Scheduling
- Workforce Analytics
- Others (Fatigue Management and Task Management)
By Service:
- Consulting
- Implementation
- Training, Support and Maintenance
By Deployment Type:
- On-Premises
- Cloud
By Organization Size:
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
By Vertical:
- Banking, Financial Services and Insurance (BFSI)
- Telecom
- Government
- Consumer Goods and Retail
- Manufacturing
- Energy and Utilities
- Transportation and Logistics
- Healthcare and Life Sciences
- Information Technology enabled Services (ITeS)
- Others (Education, Travel and Hospitality, and Media and Entertainment)
By Region:
-
North America
- United States (US)
- Canada
-
Europe
- United Kingdom (UK)
- Rest of Europe
-
APAC
- China
- Rest of APAC
-
MEA
- Kingdom of Saudi Arabia (KSA)
- Rest of MEA
-
Latin America
- Brazil
- Rest of Latin America
Recent Developments
- In January 2019, the company’s cloud suite, Workforce Dimensions will streamline operational execution for retail, hospitality, and food services. The AI engine, Artificial Intelligence for Managers and Employees (AIMEE) will advance the labor volume forecasting in the workforce dimension. ML will further unlock additional stability and predictable scheduling. Embedded predictive analytics and proactive compliance capabilities will further enhance strategic problem solving.
- In April 2020, Ultimate Software merged with Kronos. The merger aims to form one of the leading providers of cloud workforce management to cater the needs of organizations across verticals. The new company will be jointly headquartered in Lowell, Massachusetts and Weston, Florida, with its offices worldwide.
- In November 2019, Verint announced the release of a new Workforce Management solution. The new release of the Workforce Management solution is a redesigned, modern, and an easy-to-use solution. It offers flexible scheduling, reduces time and effort, user skills and multilingual capabilities, time zone variations, employment requirements, and Service Level Agreements (SLAs).
Critical questions the report answers
- What are the current trends that are driving the workforce management market?
- Who are the top vendors in the market, and what is their competitive analysis?
- What are the innovations and developments done by the major market players?
- What are the regulatory implications that impact the market directly and indirectly?
- Which region is expected to lead the global market at the end of the forecast period?
Frequently Asked Questions (FAQ):
What is Workforce Management?
Workforce management is an integral part of the Human Resources (HR) process. It helps organizations effectively manage key activities, such as time and attendance, leaves and absences, workforce scheduling, workforce demand forecasting, and others; enabling employees to focus on their core responsibilities in order to meet business goals. It ensures that the right employees are in the right job at the right time. Workforce management solutions and services offer various benefits to organizations, such as improved workforce productivity, increased employee engagement, reduced labor costs, effective forecasting of workforce requirements, and maximized bottom line.
What are the top trends in the Workforce Management market?
Following are the current market trends impacting the Workforce Management market:
Driving factors for the Workforce Management market:
- Growing demand for workforce optimization and mobile applications
- Increasing adoption of cloud-based workforce management solutions
Opportunities for the Workforce Management market:
- Increasing need to make informed decisions among enterprises
- Rising adoption of workforce management solutions by SMEs
What are the top companies providing Workforce Management solutions and services?
Oracle, Kronos, ADP, SAP, Ultimate Software, WorkForce Software, IBM, Workday, Ceridian, Verint, Reflexis Systems, ATOSS, NICE, SumTotal, Infor, Meta4, Ramco Systems, TimeClock Plus, Replicon, and Mark Information are some of the major companies providing Workforce Management solutions and services.
What are the major solutions considered in the Workforce Management market?
Following are the major solutions considered in the Workforce Management market
- Time and Attendance Management
- Leave and Absence Management
- Workforce Scheduling
- Workforce Analytics
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 18)
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 MARKET SCOPE
1.3.1 MARKET SEGMENTATION
1.3.2 YEARS CONSIDERED FOR THE STUDY
1.4 CURRENCY CONSIDERED
1.5 STAKEHOLDERS
1.6 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY (Page No. - 25)
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.2 PRIMARY DATA
2.1.2.1 Breakup of primary profiles
2.1.2.2 Key industry insights
2.2 MARKET BREAKUP AND DATA TRIANGULATION
2.3 MARKET SIZE ESTIMATION
2.3.1 TOP-DOWN APPROACH
2.3.2 BOTTOM-UP APPROACH
2.4 MARKET FORECAST
2.5 ASSUMPTIONS FOR THE STUDY
2.6 LIMITATIONS
3 EXECUTIVE SUMMARY (Page No. - 33)
4 PREMIUM INSIGHTS (Page No. - 36)
4.1 ATTRACTIVE OPPORTUNITIES IN THE MARKET
4.2 NORTH AMERICA: MARKET, BY COMPONENT AND COUNTRY, 2020
4.3 WORKFORCE MANAGEMENT MARKET, BY ORGANIZATION SIZE, 2020–2025
4.4 WORKFORCE MANAGEMENT MARKET, BY DEPLOYMENT SIZE, 2020–2025
5 MARKET OVERVIEW (Page No. - 38)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Growing demand for workforce optimization and mobile applications
5.2.1.2 Increasing adoption of cloud-based workforce management solutions
5.2.2 RESTRAINTS
5.2.2.1 Privacy and security concerns related to workforce data deployed on the cloud
5.2.3 OPPORTUNITIES
5.2.3.1 Increasing need to make informed decisions among enterprises
5.2.3.2 Rising adoption of workforce management solutions by SMEs
5.2.4 CHALLENGES
5.2.4.1 Implementation of effective mobile workforce
5.2.4.2 Unstructured data format owing to the integration of advanced technologies
5.3 USE CASES
5.3.1 USE CASE 1: REPLICON
5.3.2 USE CASE 2: MARK INFORMATION
5.3.3 USE CASE 3: KRONOS
5.4 NEXT GENERATION INDUSTRY TRENDS
5.4.1 ARTIFICIAL INTELLIGENCE AND PREDICTIVE ANALYTICS
5.4.2 CLOUD AND MOBILITY
5.4.3 AUTOMATION
5.5 VALUE CHAIN ANALYSIS
5.6 TECHNOLOGY ANALYSIS
6 WORKFORCE MANAGEMENT MARKET, IMPACT OF THE COVID-19 (Page No. - 49)
7 WORKFORCE MANAGEMENT MARKET, BY COMPONENT (Page No. - 50)
7.1 INTRODUCTION
7.1.1 COMPONENT: MARKET DRIVERS
7.2 SOLUTIONS
7.3 SERVICES
8 WORKFORCE MANAGEMENT MARKET, BY SOLUTION (Page No. - 54)
8.1 INTRODUCTION
8.1.1 SOLUTIONS: MARKET DRIVERS
8.2 TIME AND ATTENDANCE MANAGEMENT
8.3 LEAVE AND ABSENCE MANAGEMENT
8.4 WORKFORCE SCHEDULING
8.5 WORKFORCE ANALYTICS
8.6 OTHERS
9 WORKFORCE MANAGEMENT MARKET, BY SERVICE (Page No. - 61)
9.1 INTRODUCTION
9.1.1 SERVICES: MARKET DRIVERS
9.2 CONSULTING
9.3 IMPLEMENTATION
9.4 TRAINING, SUPPORT AND MAINTENANCE
10 WORKFORCE MANAGEMENT MARKET, BY DEPLOYMENT TYPE (Page No. - 66)
10.1 INTRODUCTION
10.1.1 DEPLOYMENT TYPE: MARKET DRIVERS
10.2 ON-PREMISES
10.3 CLOUD
11 WORKFORCE MANAGEMENT MARKET, BY ORGANIZATION SIZE (Page No. - 70)
11.1 INTRODUCTION
11.1.1 ORGANIZATION SIZE: MARKET DRIVERS
11.2 LARGE ENTERPRISES
11.3 SMALL AND MEDIUM-SIZED ENTERPRISES
12 WORKFORCE MANAGEMENT MARKET, BY VERTICAL (Page No. - 74)
12.1 INTRODUCTION
12.1.1 VERTICALS: MARKET DRIVERS
12.2 BANKING, FINANCIAL SERVICES, AND INSURANCE
12.3 TELECOM
12.4 GOVERNMENT
12.5 CONSUMER GOODS AND RETAIL
12.6 MANUFACTURING
12.7 ENERGY AND UTILITIES
12.8 TRANSPORTATION AND LOGISTICS
12.9 HEALTHCARE AND LIFE SCIENCES
12.10 INFORMATION TECHNOLOGY ENABLED SERVICES
12.11 OTHER VERTICALS
13 WORKFORCE MANAGEMENT MARKET, BY REGION (Page No. - 85)
13.1 INTRODUCTION
13.2 NORTH AMERICA
13.2.1 NORTH AMERICA: MARKET DRIVERS
13.2.2 UNITED STATES
13.2.3 CANADA
13.3 EUROPE
13.3.1 EUROPE: MARKET DRIVERS
13.3.2 UNITED KINGDOM
13.3.3 REST OF EUROPE
13.4 ASIA PACIFIC
13.4.1 ASIA PACIFIC: MARKET DRIVERS
13.4.2 CHINA
13.4.3 REST OF ASIA PACIFIC
13.5 MIDDLE EAST AND AFRICA
13.5.1 MIDDLE EAST AND AFRICA: MARKET DRIVERS
13.5.2 KINGDOM OF SAUDI ARABIA
13.5.3 REST OF MIDDLE EAST AND AFRICA
13.6 LATIN AMERICA
13.6.1 LATIN AMERICA: MARKET DRIVERS
13.6.2 BRAZIL
13.6.3 REST OF LATIN AMERICA
14 COMPETITIVE LANDSCAPE (Page No. - 122)
14.1 INTRODUCTION
14.1.1 NEW PRODUCT LAUNCHES/PRODUCT ENHANCEMENTS
14.1.2 PARTNERSHIPS AND COLLABORATIONS
14.1.3 MERGERS AND ACQUISITIONS
14.2 COMPETITIVE LEADERSHIP MAPPING
14.2.1 VISIONARY LEADERS
14.2.2 INNOVATORS
14.2.3 DYNAMIC DIFFERENTIATORS
14.2.4 EMERGING COMPANIES
15 COMPANY PROFILES (Page No. - 126)
15.1 INTRODUCTION
15.2 ORACLE
(Business Overview, Products Offered, Recent Developments, and SWOT Analysis)*
15.3 KRONOS
15.4 ADP
15.5 SAP
15.6 ULTIMATE SOFTWARE
15.7 VERINT
15.8 WORKDAY
15.9 REFLEXIS SYSTEMS
15.10 WORKFORCE SOFTWARE
15.11 IBM
15.12 CERIDIAN
15.13 SUMTOTAL
15.14 META4
15.15 ATOSS
15.16 NICE
15.17 INFOR
15.18 RAMCO SYSTEMS
15.19 REPLICON
15.20 TIMECLOCK PLUS
15.21 MARK INFORMATION
*Details on Business Overview, Products Offered, Recent Developments, and SWOT Analysis might not be captured in case of unlisted companies.
15.22 RIGHT-TO-WIN
16 APPENDIX (Page No. - 162)
16.1 DISCUSSION GUIDE
16.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
16.3 AVAILABLE CUSTOMIZATIONS
16.4 RELATED REPORTS
16.5 AUTHOR DETAILS
LIST OF TABLES (105 Tables)
TABLE 1 UNITED STATES DOLLAR EXCHANGE RATE, 2016–2019
TABLE 2 FACTOR ANALYSIS
TABLE 3 GLOBAL WORKFORCE MANAGEMENT MARKET SIZE, 2018–2025 (USD MILLION)
TABLE 4 WORKFORCE MANAGEMENT MARKET SIZE, BY COMPONENT, 2018–2025 (USD MILLION)
TABLE 5 SOLUTIONS: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 6 SERVICES: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 7 WORKFORCE MANAGEMENT MARKET SIZE, BY SOLUTION, 2018–2025 (USD MILLION)
TABLE 8 TIME AND ATTENDANCE MANAGEMENT: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 9 LEAVE AND ABSENCE MANAGEMENT: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 10 WORKFORCE SCHEDULING: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 11 WORKFORCE ANALYTICS: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 12 OTHERS: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 13 WORKFORCE MANAGEMENT MARKET SIZE, BY SERVICE, 2018–2025 (USD MILLION)
TABLE 14 CONSULTING: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 15 IMPLEMENTATION: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 16 TRAINING, SUPPORT AND MAINTENANCE: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 17 WORKFORCE MANAGEMENT MARKET SIZE, BY DEPLOYMENT TYPE, 2018–2025 (USD MILLION)
TABLE 18 ON-PREMISES: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 19 CLOUD: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 20 MARKET SIZE, BY ORGANIZATION SIZE, 2018–2025 (USD MILLION)
TABLE 21 LARGE ENTERPRISES: WORKFORCE MANAGEMENT SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 22 SMALL AND MEDIUM-SIZED ENTERPRISES: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 23 WORKFORCE MANAGEMENT MARKET SIZE, BY VERTICAL, 2018–2025 (USD MILLION)
TABLE 24 BANKING, FINANCIAL SERVICES, AND INSURANCE: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 25 TELECOM: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 26 GOVERNMENT: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 27 CONSUMER GOODS AND RETAIL: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 28 MANUFACTURING: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 29 ENERGY AND UTILITIES: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 30 TRANSPORTATION AND LOGISTICS: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 31 HEALTHCARE AND LIFE SCIENCES: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 32 INFORMATION TECHNOLOGY ENABLED SERVICES: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 33 OTHER VERTICALS: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 34 WORKFORCE MANAGEMENT MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 35 NORTH AMERICA: MARKET SIZE, BY COMPONENT, 2018–2025 (USD MILLION)
TABLE 36 NORTH AMERICA: MARKET SIZE, BY SOLUTION, 2018–2025 (USD MILLION)
TABLE 37 NORTH AMERICA: MARKET SIZE, BY SERVICE, 2018–2025 (USD MILLION)
TABLE 38 NORTH AMERICA: MARKET SIZE, BY DEPLOYMENT TYPE, 2018–2025 (USD MILLION)
TABLE 39 NORTH AMERICA: MARKET SIZE, BY ORGANIZATION SIZE, 2018–2025 (USD MILLION)
TABLE 40 NORTH AMERICA: MARKET SIZE, BY VERTICAL, 2018–2025 (USD MILLION)
TABLE 41 NORTH AMERICA: MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 42 NORTH AMERICA: SOLUTIONS MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 43 NORTH AMERICA: TIME AND ATTENDANCE MANAGEMENT MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 44 NORTH AMERICA: LEAVE AND ABSENCE MANAGEMENT MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 45 NORTH AMERICA: WORKFORCE SCHEDULING MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 46 NORTH AMERICA: WORKFORCE ANALYTICS MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 47 NORTH AMERICA: OTHER SOLUTIONS MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 48 NORTH AMERICA: SERVICES MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 49 NORTH AMERICA: CONSULTING SERVICES MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 50 NORTH AMERICA: IMPLEMENTATION SERVICES MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 51 NORTH AMERICA: TRAINING, SUPPORT AND MAINTENANCE SERVICES MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 52 NORTH AMERICA: ON-PREMISES MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 53 NORTH AMERICA: CLOUD MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 54 NORTH AMERICA: LARGE ENTERPRISES MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 55 NORTH AMERICA: SMALL AND MEDIUM-SIZED ENTERPRISES MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 56 UNITED STATES: WORKFORCE MANAGEMENT MARKET SIZE, BY COMPONENT, 2018–2025 (USD MILLION)
TABLE 57 UNITED STATES: MARKET SIZE, BY SOLUTION, 2018–2025 (USD MILLION)
TABLE 58 UNITED STATES: MARKET SIZE, BY SERVICE, 2018–2025 (USD MILLION)
TABLE 59 UNITED STATES: MARKET SIZE, BY DEPLOYMENT TYPE, 2018–2025 (USD MILLION)
TABLE 60 UNITED STATES: MARKET SIZE, BY ORGANIZATION SIZE, 2018–2025 (USD MILLION)
TABLE 61 CANADA: MARKET SIZE, BY COMPONENT, 2018–2025 (USD MILLION)
TABLE 62 CANADA: MARKET SIZE, BY SOLUTION, 2018–2025 (USD MILLION)
TABLE 63 CANADA: MARKET SIZE, BY SERVICE, 2018–2025 (USD MILLION)
TABLE 64 CANADA: MARKET SIZE, BY DEPLOYMENT TYPE, 2018–2025 (USD MILLION)
TABLE 65 CANADA: MARKET SIZE, BY ORGANIZATION SIZE, 2018–2025 (USD MILLION)
TABLE 66 EUROPE: WORKFORCE MANAGEMENT MARKET SIZE, BY COMPONENT, 2018–2025 (USD MILLION)
TABLE 67 EUROPE: MARKET SIZE, BY SOLUTION, 2018–2025 (USD MILLION)
TABLE 68 EUROPE: MARKET SIZE, BY SERVICE, 2018–2025 (USD MILLION)
TABLE 69 EUROPE: MARKET SIZE, BY DEPLOYMENT TYPE, 2018–2025 (USD MILLION)
TABLE 70 EUROPE: MARKET SIZE, BY ORGANIZATION SIZE, 2018–2025 (USD MILLION)
TABLE 71 EUROPE: MARKET SIZE, BY VERTICAL, 2018–2025 (USD MILLION)
TABLE 72 EUROPE: MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 73 EUROPE: ON-PREMISES MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 74 EUROPE: CLOUD MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 75 EUROPE: LARGE ENTERPRISES MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 76 EUROPE: SMALL AND MEDIUM-SIZED ENTERPRISES MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 77 UNITED KINGDOM: MARKET SIZE, BY DEPLOYMENT TYPE, 2018–2025 (USD MILLION)
TABLE 78 UNITED KINGDOM: MARKET SIZE, BY ORGANIZATION SIZE, 2018–2025 (USD MILLION)
TABLE 79 REST OF EUROPE: MARKET SIZE, BY DEPLOYMENT TYPE, 2018–2025 (USD MILLION)
TABLE 80 REST OF EUROPE: MARKET SIZE, BY ORGANIZATION SIZE, 2018–2025 (USD MILLION)
TABLE 81 ASIA PACIFIC: WORKFORCE MANAGEMENT MARKET SIZE, BY COMPONENT, 2018–2025 (USD MILLION)
TABLE 82 ASIA PACIFIC: MARKET SIZE, BY SOLUTION, 2018–2025 (USD MILLION)
TABLE 83 ASIA PACIFIC: MARKET SIZE, BY SERVICE, 2018–2025 (USD MILLION)
TABLE 84 ASIA PACIFIC: MARKET SIZE, BY DEPLOYMENT TYPE, 2018–2025 (USD MILLION)
TABLE 85 ASIA PACIFIC: MARKET SIZE, BY ORGANIZATION SIZE, 2018–2025 (USD MILLION)
TABLE 86 ASIA PACIFIC: MARKET SIZE, BY VERTICAL, 2018–2025 (USD MILLION)
TABLE 87 ASIA PACIFIC: MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 88 CHINA: MARKET SIZE, BY DEPLOYMENT TYPE, 2018–2025 (USD MILLION)
TABLE 89 MIDDLE EAST AND AFRICA: WORKFORCE MANAGEMENT MARKET SIZE, BY COMPONENT, 2018–2025 (USD MILLION)
TABLE 90 MIDDLE EAST AND AFRICA: MARKET SIZE, BY SOLUTION, 2018–2025 (USD MILLION)
TABLE 91 MIDDLE EAST AND AFRICA: MARKET SIZE, BY SERVICE, 2018–2025 (USD MILLION)
TABLE 92 MIDDLE EAST AND AFRICA: MARKET SIZE, BY DEPLOYMENT TYPE, 2018–2025 (USD MILLION)
TABLE 93 MIDDLE EAST AND AFRICA: MARKET SIZE, BY ORGANIZATION SIZE, 2018–2025 (USD MILLION)
TABLE 94 MIDDLE EAST AND AFRICA: MARKET SIZE, BY VERTICAL, 2018–2025 (USD MILLION)
TABLE 95 MIDDLE EAST AND AFRICA: MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 96 LATIN AMERICA: WORKFORCE MANAGEMENT MARKET SIZE, BY COMPONENT, 2018–2025 (USD MILLION)
TABLE 97 LATIN AMERICA: MARKET SIZE, BY SOLUTION, 2018–2025 (USD MILLION)
TABLE 98 LATIN AMERICA: MARKET SIZE, BY SERVICE, 2018–2025 (USD MILLION)
TABLE 99 LATIN AMERICA: MARKET SIZE, BY DEPLOYMENT TYPE, 2018–2025 (USD MILLION)
TABLE 100 LATIN AMERICA: MARKET SIZE, BY ORGANIZATION SIZE, 2018–2025 (USD MILLION)
TABLE 101 LATIN AMERICA: MARKET SIZE, BY VERTICAL, 2018–2025 (USD MILLION)
TABLE 102 LATIN AMERICA: MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 103 NEW PRODUCT LAUNCHES, 2019
TABLE 104 PARTNERSHIPS AND COLLABORATIONS, 2018–2019
TABLE 105 MERGERS AND ACQUISITIONS, 2018–2020
LIST OF FIGURES (35 Figures)
FIGURE 1 WORKFORCE MANAGEMENT MARKET: RESEARCH DESIGN
FIGURE 2 TOP-DOWN AND BOTTOM-UP APPROACHES
FIGURE 3 RESEARCH METHODOLOGY
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: ILLUSTRATIVE EXAMPLE OF KRONOS
FIGURE 5 SEGMENTS WITH HIGHER MARKET SHARES IN THE WORKFORCE MANAGEMENT MARKET IN 2020
FIGURE 6 NORTH AMERICA TO ACCOUNT FOR THE HIGHEST MARKET SHARE IN 2020
FIGURE 7 GROWING DEMAND FOR WORKFORCE OPTIMIZATION AND MOBILE APPLICATIONS TO DRIVE THE WORKFORCE MANAGEMENT MARKET GROWTH
FIGURE 8 SOLUTIONS SEGMENT AND UNITED STATES TO ACCOUNT FOR HIGHER MARKET SHARES IN 2020
FIGURE 9 SMALL AND MEDIUM-SIZED ENTERPRISES SEGMENT TO GROW AT A HIGHER GROWTH RATE DURING THE FORECAST PERIOD
FIGURE 10 CLOUD SEGMENT TO GROW AT A HIGHER GROWTH RATE DURING THE FORECAST PERIOD
FIGURE 11 WORKFORCE MANAGEMENT MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
FIGURE 12 VALUE CHAIN: WORKFORCE MANAGEMENT MARKET
FIGURE 13 SERVICES SEGMENT TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD
FIGURE 14 WORKFORCE ANALYTICS SEGMENT TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
FIGURE 15 TRAINING, SUPPORT AND MAINTENANCE SERVICES SEGMENT TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
FIGURE 16 CLOUD SEGMENT TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD
FIGURE 17 SMALL AND MEDIUM-SIZED ENTERPRISES TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD
FIGURE 18 CONSUMER GOODS AND RETAIL VERTICAL TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
FIGURE 19 ASIA PACIFIC TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
FIGURE 20 NORTH AMERICA: MARKET SNAPSHOT
FIGURE 21 ASIA PACIFIC: MARKET SNAPSHOT
FIGURE 22 KEY DEVELOPMENTS IN THE WORKFORCE MANAGEMENT MARKET DURING 2018–2020
FIGURE 23 WORKFORCE MANAGEMENT (GLOBAL), COMPETITIVE LEADERSHIP MAPPING, 2020
FIGURE 24 GEOGRAPHIC REVENUE MIX OF THE TOP MARKET PLAYERS
FIGURE 25 ORACLE: COMPANY SNAPSHOT
FIGURE 26 ORACLE: SWOT ANALYSIS
FIGURE 27 KRONOS: SWOT ANALYSIS
FIGURE 28 ADP: COMPANY SNAPSHOT
FIGURE 29 ADP: SWOT ANALYSIS
FIGURE 30 SAP: COMPANY SNAPSHOT
FIGURE 31 SAP: SWOT ANALYSIS
FIGURE 32 ULTIMATE SOFTWARE: SWOT ANALYSIS
FIGURE 33 VERINT: COMPANY SNAPSHOT
FIGURE 34 WORKDAY: COMPANY SNAPSHOT
FIGURE 35 IBM: COMPANY SNAPSHOT
The study involved four major activities in estimating the current market size for the workforce management market. An exhaustive secondary research was done to collect information on the workforce management industry. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain using primary research. Both top-down and bottom-up approaches were employed to estimate the total market size. After that, the market breakup and data triangulation procedures were used to estimate the market size of the segments and subsegments of the workforce management market.
Secondary Research
In the secondary research process, various secondary sources, such as D&B Hoovers, Bloomberg Businessweek, and Factiva, have been referred to identify and collect information for this study. These secondary sources included annual reports, press releases and investor presentations of companies, whitepapers, and articles by recognized authors, gold standard and silver standard websites, regulatory bodies, and databases.
Primary Research
In the primary research process, various sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information for making this report. The primary sources from the supply side included industry experts, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), marketing directors, technology and innovation directors, and related key executives from various key companies and organizations operating in the workforce management market.
After the complete market engineering (including calculations for market statistics, market breakup, market size estimations, market forecasting, and data triangulation), an extensive primary research was conducted to gather information, and verify and validate the critical numbers arrived at. Primary research was also undertaken to identify the segmentation types; the competitive landscape of workforce management solution and service providers; and fundamental market dynamics, such as drivers, restraints, opportunities, challenges, industry trends, and key players’ strategies.
Following is the breakup of the primary respondents:
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the workforce management market. These methods were also used extensively to determine the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and markets were identified through extensive secondary research.
- The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes.
- All percentage shares and breakups were determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and subsegments. The data triangulation and market breakup procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Report Objectives
- To define, describe, and forecast the workforce management market by, component, solution, service, deployment type, organization size, vertical, and region
- To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the workforce management market
- To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total market
- To analyze opportunities in the market for stakeholders by identifying high-growth segments of the workforce management market
- To forecast the size of the market segments with respect to five main regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America
- To profile key players of the market and comprehensively analyze their market share and core competencies
- To track and analyze competitive developments, such as new product launches; mergers and acquisitions; and partnerships, agreements, and collaborations, in the market
Available customizations
Along with the market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
Product analysis
- Product matrix gives a detailed comparison of the product portfolio of each company
Geographic analysis
- Further breakup of the European workforce management market into countries
- Further breakup of the APAC market into countries
- Further breakup of the MEA market into countries
- Further breakup of the Latin American market into countries
Company information
- Detailed analysis and profiling of additional market players
Growth opportunities and latent adjacency in Workforce Management Market