The estimated size of the global workforce management market in 2023 was USD 15.89777118 billion, and it is anticipated to increase at a CAGR of 9.20% during the next five years

MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Workforce Management Market.

Workforce optimization (WFO), which focuses on increasing workforce engagement and employee productivity, represents a variety of software solutions and integrated business processes (WFE). By offering appropriate information and sharing knowledge through a user-friendly dashboard, Workforce optimization software sets resources up for success. Across various channels, interaction with respective customers is enabled more effectively. Moreover, for improving communication and saving time, it supports automation in several employment-related roles.

Thus, by improving customer engagement and related services, there is an increase in customer retention with the help of workforce optimization. The workforce management market trends deal with current and previous communication with customers, finding the root cause of customer conduct, and allowing the implementation of customer retention strategies. Additionally, to simplify productivity and efficiency, cost-effective solutions by leveraging analytics and insights are offered by workforce optimization.

One of the main areas on which HR departments from various businesses are concentrating is the standardization and streamlining of labor-related activities. It is projected that this tendency would influence changes in the features and requirements of the vendor's solutions. While integration and agility are the most in-demand features among end users, their compliance and usability will significantly impact their purchasing decisions.

Regional Analysis

The European region conquered the industry in terms of revenue, with a market share of more than 31% in 2016. The growing number of labor regulations and rules in emerging countries such as India and China expedites the Asia-Pacific regional growth. Strict policy implementation will significantly impact the compliance capabilities of leave management solutions as these ecosystems evolve.

The North American region also produces a sizable amount of workforce management market share and will experience strong growth during the predicted period. Solutions like embedded analytics and labor cost forecasting will gain traction in the area since technology adoption is more likely to occur in the U.S. Over the next nine years, the North American region is expected to expand at a CAGR of 9.2%.

According to projections, the region with the quickest rate of growth will be Asia-Pacific. The expansion of government efforts and investments in digitization and an increase in the number of automation projects aimed at enhancing organizational productivity can be blamed for the rise of the workforce management market share in the Asia-Pacific region. The region's talent management and recruitment software market is also anticipated to be driven by the region's vast skilled labor pool.

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Market Segmentation

Analysis of industry trends in each of the sub-segments and revenue growth at the global, regional, and country levels is provided by the workforce management market forecast from 2014-2015. Grand View Research has divided the global market into segments based on solution, deployment, company size, application, and geography for the purpose of this analysis.

On the basis of the Solution Scope(Revenue, USD Million; 2014-2025), the global market has been divided into workforce scheduling, Time & Attention Management, Embedded Analytics, Absence Management, and others.

In the Development Scope sector(Revenue, USD Million; 2014-2025), the market is being segmented into Cloud and On-premise basis.

Further, in Company Size Scope(Revenue, USD Million; 2014-2025), two market divisions are Large Enterprises and Small and Medium Enterprises.

Moreover, Academia, Automotive & Manufacturing, BFSI, Government, Healthcare, Retail, and others are the fragments of the market from Application Scope (Revenue, USD Million: 2014-2025).

Key Players

The companies contributing to the workforce management market trends are:

• Kronos Incorporated


• SAP SE


• Oracle Corporation


• Workforce Software Group Inc


• Nice Systems


• Active Ops Limited


• Nice Systems Inc


• Infor