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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