Market Highlights:
The latest report by Market Research Future (MRFR) projects that the global workflow management system market is poised to boom exponentially by striking a CAGR OF 11% during the forecast period 2016-2022. Whereas, the valuation is expected to achieve USD 9 billion due to the rapid changes being witnessed in the field of business and workflow. This accelerated technology has also been adopted by all small and medium business bodies which are firmly anticipated to prolong in the foreseen years.
Factors Driving the Market Growth
Workforce management is a cohesive process in an institution to optimize the productivity of employees—individual wise, department or all levels. Workforce management involves monitoring of employee skills to match for tasks provided in a company, quantifying the labor investment day-to-day as well as on a time-to-time basis.
Various industries and businesses have started adopting and deploying workflow management techniques for improving their operational efficiency. Thus, the demand of the system has created a robust competitive landscape over technological innovations in product offerings. The positive competitiveness is likely to influence the growth of the global workflow management system market.
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Major Key Players
- IBM Corporation (U.S.),
- Oracle Corporation (U.S.),
- SAP AG (Europe),
- KRONOS (U.S.),
- Workforce Software (U.S.),
- ADP LLC (U.S.),
- WORKDAY (U.S.),
- Infor Global Solution (India),
- ClickSoftware (U.S.)
According to Market Research Future, the global Workforce Management Market is expected to reach USD 9 billion by the end of 2022 with ~11% CAGR during forecast period 2016-2022
Competitive Outlook
To get a glimpse of industry developments, new trends such as employee engagement, data gathering and analysis, and use of HR as a strategic plan of the organization will propel the workflow management system market over the next couple of years.
Kronos Incorporated a global agreement with SAP, allowing SAP to resell Workforce Dimensions, the next-generation workforce management solution by Kronos.
Regional Analysis
Based on the region, the global workflow management market share is seen accounted in Asia Pacific, North America, Europe and Rest of the World.
Out of these, North America holds the most significant position in the market share through the foreseen years. As IT services are increasing which is automating a business process, this is eventually fueling the demand. Including the factors such as technological advancements, heavy internet usages and more are equally favoring the expansion of the workflow management system market.
While Europe and the Asia Pacific are also considered as positive regions and are significant growth holders by resonating strong market opportunities for the foreseen years.
Segmentation
The global workflow management market has been segmented by component, deployment, organization, and end-user.
By component, the market has two events that fulfill the action. They are solutions and services. Workflow management provides both services with a solution cater to the needs of the business.
By deployment, the market has segments as on-premises and cloud-based.
By end-users, the market segments into BFSI, healthcare, retail & e-commerce, among others.
By organization, the market includes SMEs and enterprises. Of these, SMEs accounts for the largest market share due to the adoption of WFM solutions and technological transition. Also, the percentage is mainly due to companies are giving high importance to enhance the workflow outcome with performance management.
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Intended Audience:
- Workforce Management Manufacturers
- Distributors
- Research firms
- Consultancy firms
- Software Developers
- Vendors
- Semiconductor Manufacturers
- Stakeholders
- End-user sectors
- Technology Investors
LIST OF TABLES
Table 1 Global Workforce Management market, By Components
Table 2 Global Workforce Management market, By Deployment
Table 3 Global Workforce Management market, By End-Users
Table 4 Global Workforce Management market, By Organization Size
Table 5 Global Workforce Management market, By Geography
Table 6 North America Workforce Management market, By Components
Continued….
LIST OF FIGURES
Figure 1 Research Deployment
Figure 2 Global Workforce Management Market, By Component (%)
Figure 3 Global Workforce Management Market, By Deployment (%)
Figure 4 Global Workforce Management Market, By Organization Size(%)
Figure 5 Global Workforce Management Market, By End-Users(%)
Figure 6 Global Workforce Management Market, By Regions(%)
Continued….
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