“Increasing competition and globalization has revolutionized the traditional form of workforce management to Human Resource Information System (HRIS), HR analytics and cloud solutions. One of the primary reasons behind the adoption of IT-based workforce management solutions is the requirement for optimal utilization of resources and organizational assets. These solutions help organizations bring transparency into HR operations and processes and hence improve their decision making abilities by understanding the role of human capital in the organization. There are several players with a wide range of offerings present in the workforce management market. Cloud solution and mobile applications penetration in the market are the major factors driving the workforce management market.
Major industry verticals with high technological growth are BFSI, manufacturing, healthcare, and retail. Increasing globalization and mobility has significantly increased the demand for workforce management solutions for better scheduling, engaging, and satisfying workforce. The adoption in these verticals is very high as organizations want to retain better employees and manage their business cost with better HR processes to keep their employee satisfaction high. New databases technologies enable real-time cross functional data sharing abilities for transparency in the HR processes.
This market research report analyzes key opportunities in the market space and provides critical market data in terms of revenue opportunity and regional adoption trends. The report also highlights major drivers, challenges, and current and future expected market trends in the IT-based workforce management market space.
There are various assumptions that have been taken into consideration for the market sizing and forecasting exercise. A few of the global assumptions include political, social, technological, and economic factors. The dollar fluctuations are expected to not seriously affect the forecast in the emerging regions.
The report will help the market leaders or new entrants in this market in the following ways:
1. This report segments the market into various sub-segments, covering this market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and the sub-segments. The market numbers are further split across different end users and regions.
2. This report will help in the better understanding of the competitors and gain more insights to better oneâs position in the market. There is a separate section on competitive landscape, which includes competitor ecosystem, mergers and acquisitions, partnerships, and agreements. Besides, there are company profiles of ten players in this market. In this section, market internals are provided to help them stay ahead in the competition.
3. The report also helps in understanding the overall growth of the market. It provides information on key market drivers, restraints, challenges, and opportunities.
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