The workforce management market is expected to be valued at US$ 8,877.4 million in 2024. The pace of progress for the market from 2024 to 2034 is expected to be positive, with a CAGR of 9.2%. By the end of the forecast period, the workforce management industry value is slated to hit US$ 21,342.1 million.
Attributes | Details |
---|---|
Workforce Management Market Value for 2024 | US$ 8,877.4 million |
Projected Market Value for 2034 | US$ 21,342.1 million |
Value-based CAGR of Market for 2024 to 2034 | 9.2% |
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Cloud is the top deployment type in the market. Large enterprises continue to rule the roost in the organization type segment.
Cloud-based systems are expected to account for 68.3% of the market share by deployment type in 2024. Factors driving the growth of cloud-based workforce management systems are:
Attributes | Details |
---|---|
Top Deployment Type | Cloud |
Market Share (2024) | 68.3% |
Large enterprises are anticipated to account for 61.7% of the market share in 2024. Some of the factors that large enterprises use of workforce management are:
Attributes | Details |
---|---|
Top Organization Type | Large Enterprises |
Market Share (2024) | 61.7% |
Rise in corporate culture is helping the market’s purpose in North America. Increase in understanding of the benefits of employee welfare is propelling the market in Europe.
Companies in the Asia Pacific are increasingly turning towards digitization and thus the environment is conducive for the growth of the market in the region. The commercial boom in Oceania is seeing the region emerge as lucrative in the market.
Countries | CAGR (2024 to 2034) |
---|---|
China | 9.7% |
Australia | 12.7% |
Japan | 3.9% |
Germany | 4.6% |
United States | 6.0% |
The market is anticipated to register a CAGR of 12.7% in Australia for the forecast period. Some of the factors driving the growth of the market in the country are:
Japan is set to see the market expand at a CAGR of 3.9% over the forecast period. Prominent factors driving the growth of the market are:
The market is expected to register a CAGR of 9.7% in China over the forecast period. Some of the factors driving the growth of the market in China are:
The market is set to progress at a CAGR of 4.6% in Germany for the forecast period. Factors influencing the growth of the market in Germany include:
The market is expected to register a CAGR of 6.0% in the United States over the period from 2024 to 2034. Some of the reasons for the growth of workforce management in the country are:
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The competitive landscape of workforce management sees a heavy amount of acquisitions and mergers. Competitors are ruthless in their drive to control more of the market share.
The workforce management market is highly fragmented, with players of all sizes tussling it out for a piece of the pie. Startup culture is also evident in the market.
Recent Developments in the Workforce Management Market
The market size of the workforce management industry is estimated to be US$ 8,877.4 million in 2024.
Oracle, Kronos, AADP, and SAP are some of the key companies in the workforce management market.
The workforce management market is expected to reach a valuation of US$ 21,342.1 million in 2034.
The workforce management industry is expected to progress at a healthy CAGR of 9.2% over the period from 2024 to 2034.
The workforce management market can be segmented into the following categories: component, deployment type, organization size, and vertical.
The workforce management market is predicted to progress at a CAGR of 6.0% in the United States over the period from 2024 to 2034.
Rising use of cloud-based workforce management solutions and the integration of technology like AI into the systems are two of the trends in the workforce management industry.
The workforce management market is predicted to progress at a CAGR of 9.7% in China over the period from 2024 to 2034.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
4.1. Historical Market Size Value (US$ Million) Analysis, 2019 to 2023
4.2. Current and Future Market Size Value (US$ Million) Projections, 2024 to 2034
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Component
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Component, 2019 to 2023
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Component, 2024 to 2034
5.3.1. Solutions
5.3.1.1. Time and Attendance Management
5.3.1.2. Leave and Absence Management
5.3.1.3. Workforce Scheduling
5.3.1.4. Workforce Analytics
5.3.1.5. Others
5.3.2. Services
5.3.2.1. Consulting
5.3.2.2. Implementation
5.3.2.3. Training, Support and Maintenance
5.4. Y-o-Y Growth Trend Analysis By Component, 2019 to 2023
5.5. Absolute $ Opportunity Analysis By Component, 2024 to 2034
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Deployment Type
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Deployment Type, 2019 to 2023
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Deployment Type, 2024 to 2034
6.3.1. On-Premises
6.3.2. Cloud-Based
6.4. Y-o-Y Growth Trend Analysis By Deployment Type, 2019 to 2023
6.5. Absolute $ Opportunity Analysis By Deployment Type, 2024 to 2034
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Organization Size
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) Analysis By Organization Size, 2019 to 2023
7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Organization Size, 2024 to 2034
7.3.1. Large Enterprises
7.3.2. Small and Mid-Sized Enterprises (SMEs)
7.4. Y-o-Y Growth Trend Analysis By Organization Size, 2019 to 2023
7.5. Absolute $ Opportunity Analysis By Organization Size, 2024 to 2034
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Vertical
8.1. Introduction / Key Findings
8.2. Historical Market Size Value (US$ Million) Analysis By Vertical, 2019 to 2023
8.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Vertical, 2024 to 2034
8.3.1. BFSI
8.3.2. Telecom
8.3.3. Government
8.3.4. Consumer Goods and Retail
8.3.5. Manufacturing
8.3.6. Energy and Utilities
8.3.7. Transportation and Logistics
8.3.8. Healthcare and Life Sciences
8.3.9. Information Technology enabled Services (ITeS)
8.3.10. Others
8.4. Y-o-Y Growth Trend Analysis By Vertical, 2019 to 2023
8.5. Absolute $ Opportunity Analysis By Vertical, 2024 to 2034
9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
9.1. Introduction
9.2. Historical Market Size Value (US$ Million) Analysis By Region, 2019 to 2023
9.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2024 to 2034
9.3.1. North America
9.3.2. Latin America
9.3.3. Western Europe
9.3.4. Eastern Europe
9.3.5. South Asia and Pacific
9.3.6. East Asia
9.3.7. Middle East and Africa
9.4. Market Attractiveness Analysis By Region
10. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
10.2.1. By Country
10.2.1.1. USA
10.2.1.2. Canada
10.2.2. By Component
10.2.3. By Deployment Type
10.2.4. By Organization Size
10.2.5. By Vertical
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Component
10.3.3. By Deployment Type
10.3.4. By Organization Size
10.3.5. By Vertical
10.4. Key Takeaways
11. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
11.2.1. By Country
11.2.1.1. Brazil
11.2.1.2. Mexico
11.2.1.3. Rest of Latin America
11.2.2. By Component
11.2.3. By Deployment Type
11.2.4. By Organization Size
11.2.5. By Vertical
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Component
11.3.3. By Deployment Type
11.3.4. By Organization Size
11.3.5. By Vertical
11.4. Key Takeaways
12. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
12.2.1. By Country
12.2.1.1. Germany
12.2.1.2. UK
12.2.1.3. France
12.2.1.4. Spain
12.2.1.5. Italy
12.2.1.6. Rest of Western Europe
12.2.2. By Component
12.2.3. By Deployment Type
12.2.4. By Organization Size
12.2.5. By Vertical
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Component
12.3.3. By Deployment Type
12.3.4. By Organization Size
12.3.5. By Vertical
12.4. Key Takeaways
13. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
13.2.1. By Country
13.2.1.1. Poland
13.2.1.2. Russia
13.2.1.3. Czech Republic
13.2.1.4. Romania
13.2.1.5. Rest of Eastern Europe
13.2.2. By Component
13.2.3. By Deployment Type
13.2.4. By Organization Size
13.2.5. By Vertical
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Component
13.3.3. By Deployment Type
13.3.4. By Organization Size
13.3.5. By Vertical
13.4. Key Takeaways
14. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
14.2.1. By Country
14.2.1.1. India
14.2.1.2. Bangladesh
14.2.1.3. Australia
14.2.1.4. New Zealand
14.2.1.5. Rest of South Asia and Pacific
14.2.2. By Component
14.2.3. By Deployment Type
14.2.4. By Organization Size
14.2.5. By Vertical
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Component
14.3.3. By Deployment Type
14.3.4. By Organization Size
14.3.5. By Vertical
14.4. Key Takeaways
15. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
15.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
15.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
15.2.1. By Country
15.2.1.1. China
15.2.1.2. Japan
15.2.1.3. South Korea
15.2.2. By Component
15.2.3. By Deployment Type
15.2.4. By Organization Size
15.2.5. By Vertical
15.3. Market Attractiveness Analysis
15.3.1. By Country
15.3.2. By Component
15.3.3. By Deployment Type
15.3.4. By Organization Size
15.3.5. By Vertical
15.4. Key Takeaways
16. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
16.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
16.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
16.2.1. By Country
16.2.1.1. GCC Countries
16.2.1.2. South Africa
16.2.1.3. Israel
16.2.1.4. Rest of MEA
16.2.2. By Component
16.2.3. By Deployment Type
16.2.4. By Organization Size
16.2.5. By Vertical
16.3. Market Attractiveness Analysis
16.3.1. By Country
16.3.2. By Component
16.3.3. By Deployment Type
16.3.4. By Organization Size
16.3.5. By Vertical
16.4. Key Takeaways
17. Key Countries Market Analysis
17.1. USA
17.1.1. Market Share Analysis, 2023
17.1.1.1. By Component
17.1.1.2. By Deployment Type
17.1.1.3. By Organization Size
17.1.1.4. By Vertical
17.2. Canada
17.2.1. Market Share Analysis, 2023
17.2.1.1. By Component
17.2.1.2. By Deployment Type
17.2.1.3. By Organization Size
17.2.1.4. By Vertical
17.3. Brazil
17.3.1. Market Share Analysis, 2023
17.3.1.1. By Component
17.3.1.2. By Deployment Type
17.3.1.3. By Organization Size
17.3.1.4. By Vertical
17.4. Mexico
17.4.1. Market Share Analysis, 2023
17.4.1.1. By Component
17.4.1.2. By Deployment Type
17.4.1.3. By Organization Size
17.4.1.4. By Vertical
17.5. Germany
17.5.1. Market Share Analysis, 2023
17.5.1.1. By Component
17.5.1.2. By Deployment Type
17.5.1.3. By Organization Size
17.5.1.4. By Vertical
17.6. UK
17.6.1. Market Share Analysis, 2023
17.6.1.1. By Component
17.6.1.2. By Deployment Type
17.6.1.3. By Organization Size
17.6.1.4. By Vertical
17.7. France
17.7.1. Market Share Analysis, 2023
17.7.1.1. By Component
17.7.1.2. By Deployment Type
17.7.1.3. By Organization Size
17.7.1.4. By Vertical
17.8. Spain
17.8.1. Market Share Analysis, 2023
17.8.1.1. By Component
17.8.1.2. By Deployment Type
17.8.1.3. By Organization Size
17.8.1.4. By Vertical
17.9. Italy
17.9.1. Market Share Analysis, 2023
17.9.1.1. By Component
17.9.1.2. By Deployment Type
17.9.1.3. By Organization Size
17.9.1.4. By Vertical
17.10. Poland
17.10.1. Market Share Analysis, 2023
17.10.1.1. By Component
17.10.1.2. By Deployment Type
17.10.1.3. By Organization Size
17.10.1.4. By Vertical
17.11. Russia
17.11.1. Market Share Analysis, 2023
17.11.1.1. By Component
17.11.1.2. By Deployment Type
17.11.1.3. By Organization Size
17.11.1.4. By Vertical
17.12. Czech Republic
17.12.1. Market Share Analysis, 2023
17.12.1.1. By Component
17.12.1.2. By Deployment Type
17.12.1.3. By Organization Size
17.12.1.4. By Vertical
17.13. Romania
17.13.1. Market Share Analysis, 2023
17.13.1.1. By Component
17.13.1.2. By Deployment Type
17.13.1.3. By Organization Size
17.13.1.4. By Vertical
17.14. India
17.14.1. Market Share Analysis, 2023
17.14.1.1. By Component
17.14.1.2. By Deployment Type
17.14.1.3. By Organization Size
17.14.1.4. By Vertical
17.15. Bangladesh
17.15.1. Market Share Analysis, 2023
17.15.1.1. By Component
17.15.1.2. By Deployment Type
17.15.1.3. By Organization Size
17.15.1.4. By Vertical
17.16. Australia
17.16.1. Market Share Analysis, 2023
17.16.1.1. By Component
17.16.1.2. By Deployment Type
17.16.1.3. By Organization Size
17.16.1.4. By Vertical
17.17. New Zealand
17.17.1. Market Share Analysis, 2023
17.17.1.1. By Component
17.17.1.2. By Deployment Type
17.17.1.3. By Organization Size
17.17.1.4. By Vertical
17.18. China
17.18.1. Market Share Analysis, 2023
17.18.1.1. By Component
17.18.1.2. By Deployment Type
17.18.1.3. By Organization Size
17.18.1.4. By Vertical
17.19. Japan
17.19.1. Market Share Analysis, 2023
17.19.1.1. By Component
17.19.1.2. By Deployment Type
17.19.1.3. By Organization Size
17.19.1.4. By Vertical
17.20. South Korea
17.20.1. Market Share Analysis, 2023
17.20.1.1. By Component
17.20.1.2. By Deployment Type
17.20.1.3. By Organization Size
17.20.1.4. By Vertical
17.21. GCC Countries
17.21.1. Market Share Analysis, 2023
17.21.1.1. By Component
17.21.1.2. By Deployment Type
17.21.1.3. By Organization Size
17.21.1.4. By Vertical
17.22. South Africa
17.22.1. Market Share Analysis, 2023
17.22.1.1. By Component
17.22.1.2. By Deployment Type
17.22.1.3. By Organization Size
17.22.1.4. By Vertical
17.23. Israel
17.23.1. Market Share Analysis, 2023
17.23.1.1. By Component
17.23.1.2. By Deployment Type
17.23.1.3. By Organization Size
17.23.1.4. By Vertical
18. Market Structure Analysis
18.1. Competition Dashboard
18.2. Competition Benchmarking
18.3. Market Share Analysis of Top Players
18.3.1. By Regional
18.3.2. By Component
18.3.3. By Deployment Type
18.3.4. By Organization Size
18.3.5. By Vertical
19. Competition Analysis
19.1. Competition Deep Dive
19.1.1. Oracle
19.1.1.1. Overview
19.1.1.2. Product Portfolio
19.1.1.3. Profitability by Market Segments
19.1.1.4. Sales Footprint
19.1.1.5. Strategy Overview
19.1.1.5.1. Marketing Strategy
19.1.2. Kronos
19.1.2.1. Overview
19.1.2.2. Product Portfolio
19.1.2.3. Profitability by Market Segments
19.1.2.4. Sales Footprint
19.1.2.5. Strategy Overview
19.1.2.5.1. Marketing Strategy
19.1.3. ADP
19.1.3.1. Overview
19.1.3.2. Product Portfolio
19.1.3.3. Profitability by Market Segments
19.1.3.4. Sales Footprint
19.1.3.5. Strategy Overview
19.1.3.5.1. Marketing Strategy
19.1.4. SAP
19.1.4.1. Overview
19.1.4.2. Product Portfolio
19.1.4.3. Profitability by Market Segments
19.1.4.4. Sales Footprint
19.1.4.5. Strategy Overview
19.1.4.5.1. Marketing Strategy
19.1.5. Ultimate Software
19.1.5.1. Overview
19.1.5.2. Product Portfolio
19.1.5.3. Profitability by Market Segments
19.1.5.4. Sales Footprint
19.1.5.5. Strategy Overview
19.1.5.5.1. Marketing Strategy
19.1.6. WorkForce Software
19.1.6.1. Overview
19.1.6.2. Product Portfolio
19.1.6.3. Profitability by Market Segments
19.1.6.4. Sales Footprint
19.1.6.5. Strategy Overview
19.1.6.5.1. Marketing Strategy
19.1.7. IBM
19.1.7.1. Overview
19.1.7.2. Product Portfolio
19.1.7.3. Profitability by Market Segments
19.1.7.4. Sales Footprint
19.1.7.5. Strategy Overview
19.1.7.5.1. Marketing Strategy
19.1.8. Workday
19.1.8.1. Overview
19.1.8.2. Product Portfolio
19.1.8.3. Profitability by Market Segments
19.1.8.4. Sales Footprint
19.1.8.5. Strategy Overview
19.1.8.5.1. Marketing Strategy
19.1.9. Ceridian
19.1.9.1. Overview
19.1.9.2. Product Portfolio
19.1.9.3. Profitability by Market Segments
19.1.9.4. Sales Footprint
19.1.9.5. Strategy Overview
19.1.9.5.1. Marketing Strategy
19.1.10. Verint
19.1.10.1. Overview
19.1.10.2. Product Portfolio
19.1.10.3. Profitability by Market Segments
19.1.10.4. Sales Footprint
19.1.10.5. Strategy Overview
19.1.10.5.1. Marketing Strategy
20. Assumptions & Acronyms Used
21. Research Methodology
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