Workforce management software provide solutions to streamline human resource functions such as workforce analytics, time & attendance, performance management, workforce scheduling, and others.
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Increase in adoption of cloud-based workforce management software due to its benefits such as remote access, lower cost of deployment, and unlimited storage capacity is expected to fuel the market growth during forecast period. Furthermore, rise in need to streamline HR operations is anticipated to boost the market growth.
However, data security and privacy concerns are expected to restrict the market growth. Increase in adoption of digital HR technology is one of the major growth opportunities for the market.
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The report segments the workforce management software market on the basis of component, deployment type, industry vertical, and geography. Based on component, it includes solution and services.
The solution segment is further divided into workforce analytics, time & attendance, performance management, workforce scheduling, and others.
Services segment is divided into professional services and managed services. By deployment type, the market includes on-premises and cloud.
On the basis of industry vertical, the market is categorized into banking financial services and insurance (BFSI), healthcare, manufacturing, government, IT & telecom, retail, and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major player present in the workforce management software market include is Kronos, Inc., SumTotal Systems, Oracle Corporation, SAP SE, ADP LLC, IBM Corporation, Infor Incorporation, PeopleStrategy Inc., TALENTSOFT, and FinancialForce.
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