According to a new market research report published by Acute Market Reports, “Workforce Management Software Market (By Mode of Deployment (On-premise and Cloud-based), By Functionality (Workforce Forecast & Scheduling, Time & Attendance Management, Absence Management, Workforce Analytics, and Others), By End-use (BFSI, Retail, Healthcare, Automotive, Industrial Manufacturing, Government, and Others (Education, etc.)), By Geography (North America, Europe, Asia Pacific, and Rest of the World)) - Growth, Future Prospects, and Competitive Landscape, 2020 -2028”, the global workforce management software market was valued at US$ 4.99 Bn in 2019 and expected to expand at a CAGR of 9.5% during the forecast period from 2020 to 2028.

Product & Market Insights

Workforce management solutions aid business organizations to maintain and track the workforce so as to help organizations achieve desired productivity. The complexities involved in today’s business operations and increasing demands on managers have made use of software tools critical for scheduling, forecasting, staffing, and managing other business operations effectively. Regardless of the industry vertical, size of business organization or the technology deployed by the business, workforce management software solutions has become imperative tools for increasing revenues and attaining a return on customer service investments. The role of management solutions, especially in the Human Resource domain is witnessing a paradigm shift from administrative to analytics wherein the major focus is on data gathering and analysis. With further advancements in technology, the integration of Big Data, and mobility into conventional management solutions will likely define the course of the market growth in the coming years.

Browse the full Workforce Management Software Market- Growth, Future Prospects, and Competitive Landscape, 2020 - 2028 report at  https://www.acutemarketreports.com/report/workforce-management-software-market

One of the prominent factors driving the global workforce management software market is the continued penetration of the Internet of Things (IoT) technology across business organizations. IoT has become one of the mainstream technologies in several business enterprises, used to connect all smart devices over an integrated network, and thereby control and monitor connected processes in real-time. Thus, IoT integration has simplified the task of maintaining and tracking the workforce which was earlier carried out manually or through spreadsheets, leading to a discrepancy of data in the majority of cases. Thus, a growing preference for digital solutions to transform existing business processes to connected ones bodes well for market growth. 

With the onset of COVID-19 pandemic since the start of 2020, there has been an increasing demand for cloud-based workforce management software across various end-use industries. Numerous large organizations that had relied on traditional workforce management systems until 2019 have been switching to cloud-based workforce management software due to its ease of deployment and scalability. Thereby, the overall workforce management software is expected to witness a significant rise during the forecast period from 2020 to 2028. 

Key companies profiled in the research study include SAP SE, Kronos Incorporated, Oracle Corporation, Workforce Software Group Inc., Reflexis Systems Inc., Active Operations Management International LLP, SISQUAL, Nice Systems Inc., and Infor among others. The global workforce management software market is fragmented and technology-driven. In order to differentiate from competitors, vendors may focus on integrating analytics in their offerings, thereby striving to gain early movers advantage, especially in emerging economies.

The Global Workforce Management Software Market is Segmented into:

*Complete segmentation list is on a report page