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Global Workforce Management Market to reach USD 14.50 billion by the end of 2030

Global Workforce Management Market Size study & Forecast, by Component (Solutions, Services), by Solutions (Time and Attendance Management, Leave and Absence Management, Others), by Service (Consulting, Implementation, Training Support and Maintenance), by Deployment Type, by Organization Size, by Vertical and Regional Analysis, 2023-2030

Product Code: ICTICTS-72953553
Publish Date: 10-03-2024
Page: 200

Global Workforce Management Market is valued at approximately USD7.12 billion in 2022 and is anticipated to grow at a rate of more than 9.3% during the forecast period 2023-2030. Workforce management refers to the strategic approach of efficiently organizing, scheduling, and overseeing employees to optimize productivity, streamline operations, and meet organizational objectives. It involves tasks such as scheduling shifts, tracking attendance, managing labor costs, forecasting staffing needs, and improving overall workforce performance through effective utilization of resources and technology. The Global Workforce Management Market is continuously growing due to factors such as rising workplace labour, increasing focus on workplace diversity and growing need for remote employment.

Due to a rapid increase in workplace labour, the demand for Workforce Management has gradually increased. According to the Ministry of Statistics and Programme Implementation, in India, the Labor Force Participation Rate (LFPR) for individuals aged 15 years and above in urban areas experienced an upward trend, climbing from 47.5% in April-June 2022 to 48.8% in April-June 2023. Concurrently, the LFPR remained relatively steady at 73.5% for males over the period of one year, from April-June 2022 to April-June 2023. Conversely, for females, there was an increase in LFPR from 20.9% to 23.2% during the same timeframe. Furthermore, according to the Office for National Statistics, between November and December 2023, the number of paid employees in the UK increased by 31,000, marking a 0.1% rise. Moreover, from December 2022 to December 2023, there was an increase of 401,000 payrolled employees, reflecting a growth of 1.3%. Moreover, technological advancements and globalization of businesses are opportunities for the Global Workforce Management Market that led to the market growth. However, the complexity of integration as well as data privacy and security concerns hinder market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Workforce Management Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022owing to factors such as the growing need for an intelligent workforce, early technological adoption, large enterprises and diverse industries. Asia Pacific is expected to grow significantly over the forecast period, owing to factors such as digital adoption in the IT sector, specifically among small and medium-sized enterprises (SMEs), there exists a productivity gap when compared to their larger counterparts, which led to the market growth of the Workforce Management Market globally.

Major market player included in this report are:
Oracle Corporation
Kronos Incorporated
ADP Inc.
NICE Systems Ltd.
Workday, Inc.
Ramco Systems Ltd.
Replicon, Inc.
ATOSS Software AG
SumTotal Systems, Inc.

Recent Developments in the Market:
Ø In Jan2022, AvePoint launched Confide, a Workforce Management, to help businesses handle their requests for private information and work together more safely. Confide is the only Workforce Management that offers the highest level of security and initiation effectiveness, fully integrated with Microsoft 365, and hosted on the user’s cloud tenancy.
Ø In July 2021, Datasite, a prominent SaaS-based technology provider catering to global M&A experts, finalized the acquisition of Firmex. This strategic acquisition bolsters Datasite’s aggressive expansion strategy into new markets, empowering the company to address a broader spectrum of use cases effectively.

Global Workforce Management MarketReport Scope:
ü Historical Data –2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered –Component, Solutions, Service, Deployment Type, Organization Size, Vertical, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component:

By Solutions:
Time and Attendance Management
Leave and Absence Management
Workforce Scheduling
Workforce Analytics

By Service:
Training Support and Maintenance

By Deployment Type:

Organization Size:
Large Enterprises
Small and Medium-Sized Enterprises (SMEs)

By Vertical:
Banking, Financial Services & Insurance
Consumer Goods & Retail
Energy & Utilities
Transportation & Logistics
Healthcare & Life Sciences
Information Technology enabled Services

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Workforce Management Market, by Region, 2020-2030 (USD Billion)
1.2.2. Workforce Management Market, by Component,2020-2030 (USD Billion)
1.2.3. Workforce Management Market, by Solution,2020-2030 (USD Billion)
1.2.4. Workforce Management Market, by Service,2020-2030 (USD Billion)
1.2.5. Workforce Management Market, by Deployment Type, 2020-2030 (USD Billion)
1.2.6. Workforce Management Market, by Organisation Size, 2020-2030 (USD Billion)
1.2.7. Workforce Management Market, by Vertical, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Workforce Management Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Workforce Management Market Dynamics
3.1. Workforce Management Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Rising Workplace Labour Growing Need for Remote Employment Increasing Focus on Workforce Diversity
3.1.2. Market Challenges Data Privacy and Security Concerns Complexity of Integration
3.1.3. Market Opportunities Technological Advancements Globalisation of Businesses
Chapter 4. Global Workforce Management Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Workforce Management Market, by Component
5.1. Market Snapshot
5.2. Global Workforce Management Market by Component, Performance – Potential Analysis
5.3. Global Workforce Management Market Estimates & Forecasts by Component 2020-2030 (USD Billion)
5.4. Workforce Management Market, Sub Segment Analysis
5.4.1. Solutions
5.4.2. Services
Chapter 6. Global Workforce Management Market, by Solutions
6.1. Market Snapshot
6.2. Global Workforce Management Market by Solutions, Performance – Potential Analysis
6.3. Global Workforce Management Market Estimates & Forecasts by Solutions 2020-2030 (USD Billion)
6.4. Workforce Management Market, Sub Segment Analysis
6.4.1. Time and Attendance Management
6.4.2. Leave and Absence Management
6.4.3. Workforce Scheduling
6.4.4. Workforce Analytics
6.4.5. Others
Chapter 7. Global Workforce Management Market, by Service
7.1. Market Snapshot
7.2. Global Workforce Management Market by Service, Performance – Potential Analysis
7.3. Global Workforce Management Market Estimates & Forecasts by Service 2020-2030 (USD Billion)
7.4. Workforce Management Market, Sub Segment Analysis
7.4.1. Consulting
7.4.2. Implementation
7.4.3. Training Support and Maintenance
Chapter 8. Global Workforce Management Market, by Deployment Type
8.1. Market Snapshot
8.2. Global Workforce Management Market by Deployment Type, Performance – Potential Analysis
8.3. Global Workforce Management Market Estimates & Forecasts by Deployment Type 2020-2030 (USD Billion)
8.4. Workforce Management Market, Sub Segment Analysis
8.4.1. On-Premises
8.4.2. Cloud
Chapter 9. Global Workforce Management Market, by Organisation Size
9.1. Market Snapshot
9.2. Global Workforce Management Market by Organisation Size, Performance – Potential Analysis
9.3. Global Workforce Management Market Estimates & Forecasts by Organisation Size 2020-2030 (USD Billion)
9.4. Workforce Management Market, Sub Segment Analysis
9.4.1. Large Enterprises
9.4.2. Small and Medium-Sized Enterprises (SMEs)
Chapter 10. Global Workforce Management Market, by Vertical
10.1. Market Snapshot
10.2. Global Workforce Management Market by Vertical, Performance – Potential Analysis
10.3. Global Workforce Management Market Estimates & Forecasts by Vertical 2020-2030 (USD Billion)
10.4. Workforce Management Market, Sub Segment Analysis
10.4.1. Banking, Financial Services & Insurance
10.4.2. Telecom
10.4.3. Government
10.4.4. Consumer Goods & Retail
10.4.5. Manufacturing
10.4.6. Energy & Utilities
10.4.7. Transportation & Logistics
10.4.8. Healthcare & Life Sciences
10.4.9. Information Technology enabled Services
10.4.10. Others
Chapter 11. Global Workforce Management Market, Regional Analysis
11.1. Top Leading Countries
11.2. Top Emerging Countries
11.3. Workforce Management Market, Regional Market Snapshot
11.4. North America Workforce Management Market
11.4.1. U.S. Workforce Management Market Component breakdown estimates & forecasts, 2020-2030 Solution breakdown estimates & forecasts, 2020-2030 Services breakdown estimates & forecasts, 2020-2030 Deployment Type breakdown estimates & forecasts, 2020-2030 Organisation Size breakdown estimates & forecasts, 2020-2030 Vertical breakdown estimates & forecasts, 2020-2030
11.4.2. Canada Workforce Management Market
11.5. Europe Workforce Management Market Snapshot
11.5.1. U.K. Workforce Management Market
11.5.2. Germany Workforce Management Market
11.5.3. France Workforce Management Market
11.5.4. Spain Workforce Management Market
11.5.5. Italy Workforce Management Market
11.5.6. Rest of Europe Workforce Management Market
11.6. Asia-Pacific Workforce Management Market Snapshot
11.6.1. China Workforce Management Market
11.6.2. India Workforce Management Market
11.6.3. Japan Workforce Management Market
11.6.4. Australia Workforce Management Market
11.6.5. South Korea Workforce Management Market
11.6.6. Rest of Asia Pacific Workforce Management Market
11.7. Latin America Workforce Management Market Snapshot
11.7.1. Brazil Workforce Management Market
11.7.2. Mexico Workforce Management Market
11.8. Middle East & Africa Workforce Management Market
11.8.1. Saudi Arabia Workforce Management Market
11.8.2. South Africa Workforce Management Market
11.8.3. Rest of Middle East & Africa Workforce Management Market

Chapter 12. Competitive Intelligence
12.1. Key Company SWOT Analysis
12.1.1. Company 1
12.1.2. Company 2
12.1.3. Company 3
12.2. Top Market Strategies
12.3. Company Profiles
12.3.1. Oracle Corporation Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
12.3.2. Kronos Incorporated
12.3.3. ADP Inc.
12.3.4. SAP SE
12.3.5. NICE Systems Ltd.
12.3.6. Workday, Inc.
12.3.7. Ramco Systems Ltd.
12.3.8. Replicon, Inc.
12.3.9. ATOSS Software AG
12.3.10. SumTotal Systems, Inc.
Chapter 13. Research Process
13.1. Research Process
13.1.1. Data Mining
13.1.2. Analysis
13.1.3. Market Estimation
13.1.4. Validation
13.1.5. Publishing
13.2. Research Attributes
13.3. Research Assumption

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To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
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To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
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Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
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The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
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