Workforce Management Software Market, Forecast, Impact of COVID-19, Industry Trends, by Organization Size, Growth, Company Analysis
In the modern era, with the advancement in technology and the growing popularity of workforce management solutions becomes an increasingly more important tool for business processes to centralize resource usage data and better plan future utilization. Workforce Management (WFM) software offers a set of integrated approaches that enable organizations to optimize their employees' productivity. By effectively forecasting labor requirements and creating & managing staff schedules to accomplish a specific task on a day-to-day and hour-to-hour basis. Further, the increasing popularity of cloud-based solutions and the Growing Trend of AI and Machine Learning are major driving factors for the expanding penetration of smart and connected devices and the growing focus on workforce optimization, thus driving WFM software market growth. According to Renub Research, The Workforce Management Software Market will reach US$ 10.64 Billion by 2027.
Based on Deployment Type
The Workforce Management software market includes On-Premise, Cloud and Hybrid. Cloud holds the largest market share. Cloud-based solutions are automated and can provide self-service, which reduces the load of labor-intensive tasks. In addition, the on-premise software market remains important as medium-sized and large enterprises maintain workforce management and existing back-office software until contracts run out and they have an entire digital transformation strategy.
Besides, rapid adoption of workforce management in the Education, Healthcare, Retail, IT & Telecom, BFSI, Manufacturing and Government industries to reduce process times, increase customer satisfaction, and offer a high return on investment are factors supporting high growth. Key vendors also focus on strengthening their channel partner ecosystems to improve indirect sales for enhanced business growth. As per this report, Workforce Management Software Industry will grow with a CAGR of 7.82% during 2020 - 2027.
Regional Analysis Workforce Management Software Industry
North America is the leading region in adopting workforce management solutions and services by enabling effective work schedules, business processes, labor costs, and talent management. In the US, Workforce Management software is becoming increasingly important for organizations to keep their workforce motivated and organized to ensure optimal productivity, which is vital while keeping abreast of changing times. ADP INC, Huntington Business Systems, Kronos Incorporated, Nice Systems Ltd, and Oracle.
Moreover, Europe is witnessing significant investment in the deployment of workforce scheduling software, especially in the healthcare, Manufacturing, Travel & Transport, and Retail sector. The increasing deployment of cloud solutions primarily drives workforce management adoption in Germany. Increasing automation across Germany's manufacturing sector is significantly demanding for workforce management solutions. The Workforce Management Software Market Size was US$ 6.28 Billion in 2020.
Impact of COVID-19 on Workforce Management Software Industry
COVID 19 pandemic has positively impacted the WFM software market, fostering digitization and automation across the manufacturing sectors globally. The lockdown and physical distancing mandates required to control the COVID 19 spread forced many organizations to let their employees work from home. WFH or remote work location mandates show how important it is to have an online system to manage employees in real-time and accurate information.
Key Players of WFM Software Market
Market players such as ADP INC, Huntington Business Systems, Kronos Incorporated, Nice Systems Ltd, and Oracle collaborate with key players, product innovation, acquisitions partnerships, and strengthening regional and global distribution networks. In 2021, NICE Introduces NTR-X, Next Generation Cloud-Based Compliance Solution for Omnichannel Trade Recording Management.
Renub Research latest report “Workforce Management Software Market, Global Forecast by Organization Size (Large, Small & Medium) by Application (Education, Healthcare, Retail & Ecommerce, IT & telecom, BFSI, Manufacturing and Government) by Deployment Type (On-Premise, Cloud and Hybrid) by Component (Software, service) by Region ( North America, Europe, Asia pacific, MEA, Latin America) by Companies (ADP INC, Huntington Business Systems, Kronos Incorporated, Nice Systems Ltd, and Oracle)” Provides a detailed analysis of Workforce Management Software Market.
Organization Size–Workforce Management Software Market
1. Large
2. Small & Medium
Application - Workforce Management Software Market Security Services
1. BFSI
2. Manufacturing
3. Healthcare
4. Government
5. Retail & Ecommerce
6. IT & Telecom
7. Education
8. Others
Deployment Type – Workforce Management Software Market
1. On-Premise
2. Cloud
3. Hybrid
Component- Workforce Management Software Market
1. Software
2. Services
Region - Workforce Management Software Market
1. North America
2. Europe
3. Asia Pacific (APAC)
4. Middle East & Africa (MEA)
5. Latin America
Company Insights:
1. ADP INC
2. Huntington Business Systems
3. Kronos Incorporated
4. Nice Systems Ltd
5. Oracle
Based on Deployment Type
The Workforce Management software market includes On-Premise, Cloud and Hybrid. Cloud holds the largest market share. Cloud-based solutions are automated and can provide self-service, which reduces the load of labor-intensive tasks. In addition, the on-premise software market remains important as medium-sized and large enterprises maintain workforce management and existing back-office software until contracts run out and they have an entire digital transformation strategy.
Besides, rapid adoption of workforce management in the Education, Healthcare, Retail, IT & Telecom, BFSI, Manufacturing and Government industries to reduce process times, increase customer satisfaction, and offer a high return on investment are factors supporting high growth. Key vendors also focus on strengthening their channel partner ecosystems to improve indirect sales for enhanced business growth. As per this report, Workforce Management Software Industry will grow with a CAGR of 7.82% during 2020 - 2027.
Regional Analysis Workforce Management Software Industry
North America is the leading region in adopting workforce management solutions and services by enabling effective work schedules, business processes, labor costs, and talent management. In the US, Workforce Management software is becoming increasingly important for organizations to keep their workforce motivated and organized to ensure optimal productivity, which is vital while keeping abreast of changing times. ADP INC, Huntington Business Systems, Kronos Incorporated, Nice Systems Ltd, and Oracle.
Moreover, Europe is witnessing significant investment in the deployment of workforce scheduling software, especially in the healthcare, Manufacturing, Travel & Transport, and Retail sector. The increasing deployment of cloud solutions primarily drives workforce management adoption in Germany. Increasing automation across Germany's manufacturing sector is significantly demanding for workforce management solutions. The Workforce Management Software Market Size was US$ 6.28 Billion in 2020.
Impact of COVID-19 on Workforce Management Software Industry
COVID 19 pandemic has positively impacted the WFM software market, fostering digitization and automation across the manufacturing sectors globally. The lockdown and physical distancing mandates required to control the COVID 19 spread forced many organizations to let their employees work from home. WFH or remote work location mandates show how important it is to have an online system to manage employees in real-time and accurate information.
Key Players of WFM Software Market
Market players such as ADP INC, Huntington Business Systems, Kronos Incorporated, Nice Systems Ltd, and Oracle collaborate with key players, product innovation, acquisitions partnerships, and strengthening regional and global distribution networks. In 2021, NICE Introduces NTR-X, Next Generation Cloud-Based Compliance Solution for Omnichannel Trade Recording Management.
Renub Research latest report “Workforce Management Software Market, Global Forecast by Organization Size (Large, Small & Medium) by Application (Education, Healthcare, Retail & Ecommerce, IT & telecom, BFSI, Manufacturing and Government) by Deployment Type (On-Premise, Cloud and Hybrid) by Component (Software, service) by Region ( North America, Europe, Asia pacific, MEA, Latin America) by Companies (ADP INC, Huntington Business Systems, Kronos Incorporated, Nice Systems Ltd, and Oracle)” Provides a detailed analysis of Workforce Management Software Market.
Organization Size–Workforce Management Software Market
1. Large
2. Small & Medium
Application - Workforce Management Software Market Security Services
1. BFSI
2. Manufacturing
3. Healthcare
4. Government
5. Retail & Ecommerce
6. IT & Telecom
7. Education
8. Others
Deployment Type – Workforce Management Software Market
1. On-Premise
2. Cloud
3. Hybrid
Component- Workforce Management Software Market
1. Software
2. Services
Region - Workforce Management Software Market
1. North America
2. Europe
3. Asia Pacific (APAC)
4. Middle East & Africa (MEA)
5. Latin America
Company Insights:
- Overview
- Company Initiatives
- Sales Analysis
1. ADP INC
2. Huntington Business Systems
3. Kronos Incorporated
4. Nice Systems Ltd
5. Oracle
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Growth Drivers
4.2 Challenges
5. MANAGED SERVICES MARKET
6. MARKET SHARE – MANAGED SERVICES MARKET
6.1 By Organization Size
6.2 By Service Type
6.3 By Deployment Type
6.4 By Verticals
6.5 By Region
7. ORGANIZATION SIZE – MANAGED SERVICES MARKET
7.1 SME
7.2 Large
8. SERVICE TYPE - MANAGED SERVICES MARKET
8.1 Security Services
8.2 Network
8.3 Data Center & It Infra
8.4 Commination & Collaboration
8.5 Mobility Service
8.6 Information Services
9. DEPLOYMENT TYPE – MANAGED SERVICES MARKET
9.1 Cloud
9.2 On-Premise
10. VERTICALS - MANAGED SERVICES MARKET
10.1 Telecom
10.2 IT
10.3 BFSI ((Banking, Financial Services and Insurance)
10.4 Consumer Good & Retails
10.5 Manufacturing
10.6 Healthcare
10.7 Education
10.8 Energy & Utilities
10.9 Media & Entertainment
10.10 Others
11. REGION - MANAGED SERVICES MARKET
11.1 North America
11.2 Europe
11.3 APAC (Asia-Pacific)
11.4 MEA (Middle East and Africa)
11.5 Latin America
12. COMPANY ANALYSIS - MANAGED SERVICES MARKET
12.1 AT&T Inc.
12.1.1 Overview
12.1.2 Company Initiatives
12.1.3 Sales Analysis
12.2 Accenture
12.2.1 Overview
12.2.2 Company Initiatives
12.2.3 Sales Analysis
12.3 Cisco
12.3.1 Overview
12.3.2 Company Initiatives
12.3.3 Sales Analysis
12.4 Broadcom
12.4.1 Overview
12.4.2 Company Initiatives
12.4.3 Sales Analysis
12.5 Lenovo Group
12.5.1 Overview
12.5.2 Company Initiatives
12.5.3 Sales Analysis
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Growth Drivers
4.2 Challenges
5. MANAGED SERVICES MARKET
6. MARKET SHARE – MANAGED SERVICES MARKET
6.1 By Organization Size
6.2 By Service Type
6.3 By Deployment Type
6.4 By Verticals
6.5 By Region
7. ORGANIZATION SIZE – MANAGED SERVICES MARKET
7.1 SME
7.2 Large
8. SERVICE TYPE - MANAGED SERVICES MARKET
8.1 Security Services
8.2 Network
8.3 Data Center & It Infra
8.4 Commination & Collaboration
8.5 Mobility Service
8.6 Information Services
9. DEPLOYMENT TYPE – MANAGED SERVICES MARKET
9.1 Cloud
9.2 On-Premise
10. VERTICALS - MANAGED SERVICES MARKET
10.1 Telecom
10.2 IT
10.3 BFSI ((Banking, Financial Services and Insurance)
10.4 Consumer Good & Retails
10.5 Manufacturing
10.6 Healthcare
10.7 Education
10.8 Energy & Utilities
10.9 Media & Entertainment
10.10 Others
11. REGION - MANAGED SERVICES MARKET
11.1 North America
11.2 Europe
11.3 APAC (Asia-Pacific)
11.4 MEA (Middle East and Africa)
11.5 Latin America
12. COMPANY ANALYSIS - MANAGED SERVICES MARKET
12.1 AT&T Inc.
12.1.1 Overview
12.1.2 Company Initiatives
12.1.3 Sales Analysis
12.2 Accenture
12.2.1 Overview
12.2.2 Company Initiatives
12.2.3 Sales Analysis
12.3 Cisco
12.3.1 Overview
12.3.2 Company Initiatives
12.3.3 Sales Analysis
12.4 Broadcom
12.4.1 Overview
12.4.2 Company Initiatives
12.4.3 Sales Analysis
12.5 Lenovo Group
12.5.1 Overview
12.5.2 Company Initiatives
12.5.3 Sales Analysis
LIST OF FIGURES:
Figure-01: Global Managed Services Market (Billion US$), 2017 – 2020
Figure-02: Forecast for – Global Managed Services Market (Billion US$), 2021 – 2027
Figure-03: Organization Size – SME Market (Billion US$), 2017 – 2020
Figure-04: Organization Size – Forecast for SME Market (Billion US$), 2021 – 2027
Figure-05: Organization Size – Large Market (Billion US$), 2017 – 2020
Figure-06: Organization Size – Forecast for Large Market (Billion US$), 2021 – 2027
Figure-07: Service Type – Security Services Market (Million US$), 2017 – 2020
Figure-08: Service Type – Forecast for Security Services Market (Million US$), 2021 – 2027
Figure-09: Service Type – Network Market (Million US$), 2017 – 2020
Figure-10: Service Type – Forecast for Network Market (Million US$), 2021 – 2027
Figure-11: Service Type – Data Center & IT Infra Market (Million US$), 2017 – 2020
Figure-12: Service Type – Forecast for Data Center & IT Infra Market (Million US$), 2021 – 2027
Figure-13: Service Type – Commination & Collaboration Market (Million US$), 2017 – 2020
Figure-14: Service Type – Forecast for Commination & Collaboration Market (Million US$), 2021 – 2027
Figure-15: Service Type – Mobility Service Market (Million US$), 2017 – 2020
Figure-16: Service Type – Forecast for Mobility Service Market (Million US$), 2021 – 2027
Figure-17: Service Type – Information Services Market (Million US$), 2017 – 2020
Figure-18: Service Type – Forecast for Information Services Market (Million US$), 2021 – 2027
Figure-19: Deployment Type – Cloud Market (Billion US$), 2017 – 2020
Figure-20: Deployment Type – Forecast for Cloud Market (Billion US$), 2021 – 2027
Figure-21: Deployment Type – On-Premise Market (Billion US$), 2017 – 2020
Figure-22: Deployment Type – Forecast for On-Premise Market (Billion US$), 2021 – 2027
Figure-23: Verticals – Telecom Market (Million US$), 2017 – 2020
Figure-24: Verticals – Forecast for Telecom Market (Million US$), 2021 – 2027
Figure-25: Verticals – IT Market (Million US$), 2017 – 2020
Figure-26: Verticals – Forecast for IT Market (Million US$), 2021 – 2027
Figure-27: Verticals – BFSI Market (Million US$), 2017 – 2020
Figure-28: Verticals – Forecast for BFSI Market (Million US$), 2021 – 2027
Figure-29: Verticals – Consumer Good & Retails Market (Million US$), 2017 – 2020
Figure-30: Verticals – Forecast for Consumer Good & Retails Market (Million US$), 2021 – 2027
Figure-31: Verticals – Manufacturing Market (Million US$), 2017 – 2020
Figure-32: Verticals – Forecast for Manufacturing Market (Million US$), 2021 – 2027
Figure-33: Verticals – Healthcare Market (Million US$), 2017 – 2020
Figure-34: Verticals – Forecast for Healthcare Market (Million US$), 2021 – 2027
Figure-35: Verticals – Education Market (Million US$), 2017 – 2020
Figure-36: Verticals – Forecast for Education Market (Million US$), 2021 – 2027
Figure-37: Verticals – Energy & Utilities Market (Million US$), 2017 – 2020
Figure-38: Verticals – Forecast for Energy & Utilities Market (Million US$), 2021 – 2027
Figure-39: Verticals – Media & Entertainment Market (Million US$), 2017 – 2020
Figure-40: Verticals – Forecast for Media & Entertainment Market (Million US$), 2021 – 2027
Figure-41: Verticals – Others Market (Million US$), 2017 – 2020
Figure-42: Verticals – Forecast for Others Market (Million US$), 2021 – 2027
Figure-43: North America – Managed Services Market (Million US$), 2017 – 2020
Figure-44: North America – Forecast for Managed Services Market (Million US$), 2021 – 2027
Figure-45: Europe – Managed Services Market (Million US$), 2017 – 2027
Figure-46: Europe – Forecast for Managed Services Market (Million US$), 2021 – 2027
Figure-47: APAC – Managed Services Market (Million US$), 2017 – 2020
Figure-48: APAC – Forecast for Managed Services Market (Million US$), 2021 – 2027
Figure-49: MEA – Managed Services Market (Million US$), 2017 – 2020
Figure-50: MEA – Forecast for Managed Services Market (Million US$), 2021 – 2027
Figure-51: Latin America – Managed Services Market (Million US$), 2017 – 2020
Figure-52: Latin America – Forecast for Managed Services Market (Million US$), 2021 – 2027
Figure-53: AT&T Inc. – Global Revenue (Billion US$), 2017 – 2020
Figure-54: AT&T Inc. – Forecast for Global Revenue (Billion US$), 2021 – 2027
Figure-55: Accenture – Global Revenue (Billion US$), 2017 – 2020
Figure-56: Accenture – Forecast for Global Revenue (Billion US$), 2021 – 2027
Figure-57: Cisco – Global Revenue (Billion US$), 2017 – 2020
Figure-58: Cisco – Forecast for Global Revenue (Billion US$), 2021 – 2027
Figure-59: Broadcom – Global Revenue (Billion US$), 2017 – 2020
Figure-60: Broadcom – Forecast for Global Revenue (Billion US$), 2021 – 2027
Figure-61: Lenovo Group – Global Revenue (Billion US$), 2017 – 2020
Figure-62: Lenovo Group – Forecast for Global Revenue (Billion US$), 2021 – 2027
Figure-01: Global Managed Services Market (Billion US$), 2017 – 2020
Figure-02: Forecast for – Global Managed Services Market (Billion US$), 2021 – 2027
Figure-03: Organization Size – SME Market (Billion US$), 2017 – 2020
Figure-04: Organization Size – Forecast for SME Market (Billion US$), 2021 – 2027
Figure-05: Organization Size – Large Market (Billion US$), 2017 – 2020
Figure-06: Organization Size – Forecast for Large Market (Billion US$), 2021 – 2027
Figure-07: Service Type – Security Services Market (Million US$), 2017 – 2020
Figure-08: Service Type – Forecast for Security Services Market (Million US$), 2021 – 2027
Figure-09: Service Type – Network Market (Million US$), 2017 – 2020
Figure-10: Service Type – Forecast for Network Market (Million US$), 2021 – 2027
Figure-11: Service Type – Data Center & IT Infra Market (Million US$), 2017 – 2020
Figure-12: Service Type – Forecast for Data Center & IT Infra Market (Million US$), 2021 – 2027
Figure-13: Service Type – Commination & Collaboration Market (Million US$), 2017 – 2020
Figure-14: Service Type – Forecast for Commination & Collaboration Market (Million US$), 2021 – 2027
Figure-15: Service Type – Mobility Service Market (Million US$), 2017 – 2020
Figure-16: Service Type – Forecast for Mobility Service Market (Million US$), 2021 – 2027
Figure-17: Service Type – Information Services Market (Million US$), 2017 – 2020
Figure-18: Service Type – Forecast for Information Services Market (Million US$), 2021 – 2027
Figure-19: Deployment Type – Cloud Market (Billion US$), 2017 – 2020
Figure-20: Deployment Type – Forecast for Cloud Market (Billion US$), 2021 – 2027
Figure-21: Deployment Type – On-Premise Market (Billion US$), 2017 – 2020
Figure-22: Deployment Type – Forecast for On-Premise Market (Billion US$), 2021 – 2027
Figure-23: Verticals – Telecom Market (Million US$), 2017 – 2020
Figure-24: Verticals – Forecast for Telecom Market (Million US$), 2021 – 2027
Figure-25: Verticals – IT Market (Million US$), 2017 – 2020
Figure-26: Verticals – Forecast for IT Market (Million US$), 2021 – 2027
Figure-27: Verticals – BFSI Market (Million US$), 2017 – 2020
Figure-28: Verticals – Forecast for BFSI Market (Million US$), 2021 – 2027
Figure-29: Verticals – Consumer Good & Retails Market (Million US$), 2017 – 2020
Figure-30: Verticals – Forecast for Consumer Good & Retails Market (Million US$), 2021 – 2027
Figure-31: Verticals – Manufacturing Market (Million US$), 2017 – 2020
Figure-32: Verticals – Forecast for Manufacturing Market (Million US$), 2021 – 2027
Figure-33: Verticals – Healthcare Market (Million US$), 2017 – 2020
Figure-34: Verticals – Forecast for Healthcare Market (Million US$), 2021 – 2027
Figure-35: Verticals – Education Market (Million US$), 2017 – 2020
Figure-36: Verticals – Forecast for Education Market (Million US$), 2021 – 2027
Figure-37: Verticals – Energy & Utilities Market (Million US$), 2017 – 2020
Figure-38: Verticals – Forecast for Energy & Utilities Market (Million US$), 2021 – 2027
Figure-39: Verticals – Media & Entertainment Market (Million US$), 2017 – 2020
Figure-40: Verticals – Forecast for Media & Entertainment Market (Million US$), 2021 – 2027
Figure-41: Verticals – Others Market (Million US$), 2017 – 2020
Figure-42: Verticals – Forecast for Others Market (Million US$), 2021 – 2027
Figure-43: North America – Managed Services Market (Million US$), 2017 – 2020
Figure-44: North America – Forecast for Managed Services Market (Million US$), 2021 – 2027
Figure-45: Europe – Managed Services Market (Million US$), 2017 – 2027
Figure-46: Europe – Forecast for Managed Services Market (Million US$), 2021 – 2027
Figure-47: APAC – Managed Services Market (Million US$), 2017 – 2020
Figure-48: APAC – Forecast for Managed Services Market (Million US$), 2021 – 2027
Figure-49: MEA – Managed Services Market (Million US$), 2017 – 2020
Figure-50: MEA – Forecast for Managed Services Market (Million US$), 2021 – 2027
Figure-51: Latin America – Managed Services Market (Million US$), 2017 – 2020
Figure-52: Latin America – Forecast for Managed Services Market (Million US$), 2021 – 2027
Figure-53: AT&T Inc. – Global Revenue (Billion US$), 2017 – 2020
Figure-54: AT&T Inc. – Forecast for Global Revenue (Billion US$), 2021 – 2027
Figure-55: Accenture – Global Revenue (Billion US$), 2017 – 2020
Figure-56: Accenture – Forecast for Global Revenue (Billion US$), 2021 – 2027
Figure-57: Cisco – Global Revenue (Billion US$), 2017 – 2020
Figure-58: Cisco – Forecast for Global Revenue (Billion US$), 2021 – 2027
Figure-59: Broadcom – Global Revenue (Billion US$), 2017 – 2020
Figure-60: Broadcom – Forecast for Global Revenue (Billion US$), 2021 – 2027
Figure-61: Lenovo Group – Global Revenue (Billion US$), 2017 – 2020
Figure-62: Lenovo Group – Forecast for Global Revenue (Billion US$), 2021 – 2027
LIST OF TABLES:
Table-01: Global – Managed Services Market Share by Organization Size (Percent), 2017 – 2020
Table-02: Global – Forecast for Managed Services Market Share by Organization Size (Percent), 2021 – 2027
Table-03: Global – Managed Services Market Share by Service Type (Percent), 2017 – 2020
Table-04: Global – Forecast for Managed Services Market Share by Service Type (Percent), 2021 – 2027
Table-05: Global – Managed Services Market Share by Deployment Type (Percent), 2017 – 2020
Table-06: Global – Forecast for Managed Services Market Share by Deployment Type (Percent), 2021 – 2027
Table-07: Global – Managed Services Market Share by Verticals (Percent), 2017 – 2020
Table-08: Global – Forecast for Managed Services Market Share by Verticals (Percent), 2021 – 2027
Table-09: Global – Managed Services Market Share by Region (Percent), 2017 – 2020
Table-10: Global – Forecast for Managed Services Market Share by Region (Percent), 2021 – 2027
Table-01: Global – Managed Services Market Share by Organization Size (Percent), 2017 – 2020
Table-02: Global – Forecast for Managed Services Market Share by Organization Size (Percent), 2021 – 2027
Table-03: Global – Managed Services Market Share by Service Type (Percent), 2017 – 2020
Table-04: Global – Forecast for Managed Services Market Share by Service Type (Percent), 2021 – 2027
Table-05: Global – Managed Services Market Share by Deployment Type (Percent), 2017 – 2020
Table-06: Global – Forecast for Managed Services Market Share by Deployment Type (Percent), 2021 – 2027
Table-07: Global – Managed Services Market Share by Verticals (Percent), 2017 – 2020
Table-08: Global – Forecast for Managed Services Market Share by Verticals (Percent), 2021 – 2027
Table-09: Global – Managed Services Market Share by Region (Percent), 2017 – 2020
Table-10: Global – Forecast for Managed Services Market Share by Region (Percent), 2021 – 2027
