The [FURL=https://www.industryarc.com/Report/15473/workforce-management-market.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Workforce Management Market[/FURL] size is forecast to reach 13.1 billion by 2026, growing at a CAGR of 10.5% from 2021 to 2026. Growing adoption of cloud applications in workplace and increasing growth of major industries including IT & Telecom, healthcare, retail and others for improving employee productivity workflow management have been attributing to the market growth.Key Takeaways
Cloud Workforce Management segment is analyzed to grow with the highest CAGR from 2021 to 2026, owing to various factors including shift towards moving workloads into cloud environments, rising adoption of cloud computing and so on.
North America Workforce Management market held the largest share in 2020, due to growing shift towards cloud based infrastructures for workload optimization, rising growth of IT & telcom industry with others.
Integration of advanced technologies such as IoT and AI to improve workforce management standards along with growing shift towards minimizing operational costs for organizations is analyzed to significantly drive the global Workforce Management market during the forecast period 2021-2026.
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Workforce Management Market Segment Analysis- By Geography
North America region accounted for the largest share of around 37% in the global workforce management market in 2020, attributing to growing shift towards cloud computing or cloud based infrastructures for workload optimization, rising growth of IT & Telecom industry impacting need for employee management tools and so on. Increasing adoption of advanced technologies like artificial intelligence, machine learning and others within enterprises to boost work productivity standards, along with rapid growth of retail sector driving the need for efficient workforce management solutions, will drive its market growth forward in the long run. As per the Genesys survey conducted in 2019, 22% of U.S based companies had revealed about using AI or advanced automation as a part of enhancing efficiency in operations, staffing, budgeting or performance, and is expected to increase its adoption with additional 36% plans by the year 2022.
Workforce Management Market Drivers
Integration of advanced technologies such as IoT and AI to improve workforce management standards positively impacting the market growth
Growing shift towards minimizing operational costs for organizations drives the market forward
Workforce Management Market Landscape
The workforce management market top 10 companies include Oracle Corporation, IBM Corporation, WorkForce Software LLC, Authority Software, Infor Group, SAP SE, Kronos Incorporated, NICE Systems Ltd, Kirona Solutions Ltd, ADP LLC
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