HOME › Press Releases › Workforce Management Market worth 7.37 Billion USD by 2021
Workforce Management Market worth 7.37 Billion USD by 2021
The report "Workforce Management Market by Component (Solutions and Services), Deployment (Cloud and On-premises), Organization Size (SMEs and Enterprises), Vertical, and Region - Global Forecast to 2021", The WFM market size is estimated to grow from USD 4.49 Billion in 2016 to USD 7.37 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 10.4%. The increased focus on workforce optimization and mobile applications is driving the WFM market.
Browse 66 market data tables and 54 figures spread through 143 pages and in-depth TOC on "Workforce Management Market by Component (Solutions and Services), Deployment (Cloud and On-premises), Organization Size (SMEs and Enterprises), Vertical, and Region - Global Forecast to 2021"
Early buyers will receive 10% customization on reports.
The workforce analytics solution is expected to grow at the highest CAGR during the forecast period
The increasing use of workforce analytics to drive workforce productivity and develop strategies for WFM in organizations is driving the workforce analytics market. Companies have been giving high importance to optimize workforce outcome, thereby increasing the demand for performance management and workforce analytics solution.
The Small and Medium Enterprises (SMEs) segment is expected to grow at the highest CAGR during the forecast period
The WFM market is undergoing significant technological transition through collaborations with social media, real-time solutions, and the usage of mobile devices. All these advancements are favorably welcomed and highly adopted by large organizations, thereby increasing the popularity of WFM. The adoption of WFM will helpSMEs and enterprises to focus more on their core business processes, thereby ensuring better time utilization for improved business results.
Europe is expected to hold the largest market share in 2021, due to its well established economy
The European region comprises developed countries, thus favoring the huge demand for WFM solution to streamline and schedule workforce efficiently in the organization. The deployment of cloud is also a driving factor in Europe for the rapid adoption of workforce analytics. North America is expected to hold the second largest market share owing to its openness for the adoption of new and emerging technologies. The top contributing countries in North America include the U.S. and Canada.
The major vendors in the WFM ecosystem comprises solutions and service providers such as IBM (U.S.), Oracle (U.S.), SAP AG (Europe), KRONOS (U.S.), Workforce Software (U.S.), ADP LLC (U.S.), and WORKDAY (U.S.) among others.
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India