Workforce Management (WFM) Software Market
Workforce Management (WFM) Software Market Size, Share & Trends Analysis Report by Type (Workforce Scheduling and Workforce Analytics, Time and Attendance Management, Performance and Goal Management, Absence and Leave Management, and Others), by Deployment Mode (On-Premise and Cloud), by Enterprise Size (Large Enterprises, and Small and Medium Enterprises (SMEs)), and by End-User (BFSI, Consumer Goods and Retail, Automotive, Energy and Utilities, Healthcare and Life Sciences, Manufacturing, and Others) Forecast Period (2024-2031)
WFM software market is anticipated to grow at a CAGR of 11.7 % during the forecast period (2024-2031). The market’s growth is attributed to the growing demand for omnichannel workforce management solutions across the globe. This indicates that Flow can manage workforces across several channels, ensuring a consistent and integrated approach to workforce management. This is essential in the current economic climate when organizations frequently communicate with customers across several channels, including online, mobile, and in-person. For instance, in September 2022, Intellicus Technologies launched Flow, an omnichannel Workforce Management Solution that arms traditional BPMs with AutoML, AI, and Cloud technologies for forecasting, planning, and optimizing workforces.
Segmental Outlook
The global WFM software market is segmented on the type, deployment mode, enterprise size, and end-user. Based on the type, the market is sub-segmented into workforce scheduling and workforce analytics, time and attendance management, performance and goal management, absence and leave management, and others (fatigue management, task management, and remote workforce management). Based on the deployment mode, the market is sub-segmented into on-premise and cloud. Based on the enterprise size, the market is sub-segmented into large enterprises and small and medium enterprises. Furthermore, based on end-user, the market is sub-segmented into BFSI
consumer goods and retail, automotive, energy and utilities, healthcare and life sciences, manufacturing, and others (transportation and logistics, education, travel and hospitality, and media and entertainment). The BFSI subcategory is expected to capture a significant portion of the market share within the end-user segment. The growth can be attributed to the growing demand for labor scheduling and budgeting solutions, particularly among the millennial population.
The Cloud Sub-Segment is Anticipated to Hold a Considerable Share of the global Workforce Management (WFM) Software Market
Among the motor types, the direct current (DC) motor sub-segment is expected to hold a considerable share of the global WFM software market. The segmental growth is attributed to the growing demand for cloud-based solutions. The global trend toward cloud-based solutions is a significant factor. Cloud systems provide flexibility, scalability, and accessibility, allowing enterprises to adapt to changing business needs and facilitate remote work. For instance, in January 2023, TCN, Inc., launched a new Workforce Engagement Suite for its advanced, cloud-based contact center platform, TCN operator. The new preserve combines workforce management (WFM) and workforce optimization (WFO) to optimize call center operations, reduce non-productive agent hours, and improve customer experience across all channels.
Regional Outlook
The global WFM software market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, Europe is anticipated to hold a prominent share of the market across the globe, owing to the increased demand for labor automation to enhance compliance.
Global Workforce Management (WFM) Software Market Growth, by Region 2024-2031
The Asia-Pacific Region is Expected to Grow at a Significant CAGR in the global Workforce Management (WFM) Software Market
Among all regions, the Asia-Pacific region is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to the increasing demand for specialized promotion efforts in China across the region. The emphasis on a special promotion effort demonstrates a planned and proactive strategy for promoting businesses during specific periods, such as the back-to-work season. Discounted pricing, additional features, or specialized assistance are all possible promotional initiatives. For instance, in May 2020, Infor launched a special promotion effort in China to help enterprises be operationally adaptable and ease the "back-to-work" phase as companies progressively reopen. The preconfigured Infor workforce management (WFM) solution simplifies staff management with intelligent scheduling, allowing companies to strategically reconnect their businesses.
Market Players Outlook
The major companies serving the global WFM software market include IBM Corp., Mitrefinch Ltd, Sage Group plc, UKG Inc., WorkForce Software, LLC., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in March 2023, UJET and Google Cloud partnered and launched the workforce management suite ‘UJET WFM’. The UJET WFM offers forecasting, scheduling, and real-time monitoring to help contact center operators work effectively. The contact center solutions are accessible through both UJET and Google Cloud Contact Center AI Platform.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global WFM software market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies. Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. ActiveOps plc
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. ADP, Inc
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. ATOSS
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global Workforce Management (WFM) Software Market by Type
4.1.1. Workforce Scheduling and Workforce Analytics
4.1.2. Time and Attendance Management
4.1.3. Performance and Goal Management
4.1.4. Absence and Leave Management
4.1.5. Others (Fatigue Management, Task Management, and Remote Workforce Management)
4.2. Global Workforce Management (WFM) Software Market by Deployment Mode
4.2.1. On-Premise
4.2.2. Cloud
4.3. Global Workforce Management (WFM) Software Market by Enterprise Size
4.3.1. Large Enterprises
4.3.2. Small and Medium Enterprises (SMEs)
4.4. Global Workforce Management (WFM) Software Market by End-User
4.4.1. BFSI
4.4.2. Consumer Goods and Retail
4.4.3. Automotive
4.4.4. Energy and Utilities
4.4.5. Healthcare and Life Sciences
4.4.6. Manufacturing
4.4.7. Others (Transportation and Logistics, Education, Travel and Hospitality, and Media and Entertainment)
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Advanced Computer Software Group Ltd.
6.2. Blue Yonder, Inc.
6.3. IBM Corp.
6.4. Infor
6.5. Mitrefinch Ltd
6.6. NICE Ltd.
6.7. Oracle
6.8. Roubler Australia Pty Ltd
6.9. Sage Group plc
6.10. SAP SE
6.11. ServiceMax, Inc.
6.12. SISQUAL Workforce Management, Lda.
6.13. tamigo ApS
6.14. UKG Inc.
6.15. Workday Inc.
6.16. WorkForce Software, LLC.
6.17. Zebra Technologies Corp.
1. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
2. GLOBAL WORKFORCE SCHEDULING AND WORKFORCE ANALYTICS IN WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
3. GLOBAL TIME AND ATTENDANCE MANAGEMENT IN WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
4. GLOBAL PERFORMANCE AND GOAL MANAGEMENT IN WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
5. GLOBAL ABSENCE AND LEAVE MANAGEMENT IN WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
6. GLOBAL OTHERS IN WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
7. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2023-2031 ($ MILLION)
8. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE BASED ON-PREMISE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
9. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE BASED ON-CLOUD MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
10. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY ENTERPRISE SIZE, 2023-2031 ($ MILLION)
11. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE BY LARGE ENTERPRISES MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
12. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE BY SMALL AND MEDIUM ENTERPRISES MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
13. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY END-USER, 2023-2031 ($ MILLION)
14. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE FOR BFSI MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
15. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE FOR CONSUMER GOODS AND RETAIL MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
16. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE FOR AUTOMOTIVE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
17. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE FOR ENERGY AND UTILITIES MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
18. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE FOR HEALTHCARE AND LIFE SCIENCES MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
19. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE FOR MANUFACTURING MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
20. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE FOR OTHERS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
21. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
22. NORTH AMERICAN WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
23. NORTH AMERICAN WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
24. NORTH AMERICAN WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2023-2031 ($ MILLION)
25. NORTH AMERICAN WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY ENTERPRISE SIZE, 2023-2031 ($ MILLION)
26. NORTH AMERICAN WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY END-USER, 2023-2031 ($ MILLION)
27. EUROPEAN WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
28. EUROPEAN WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
29. EUROPEAN WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2023-2031 ($ MILLION)
30. EUROPEAN WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY ENTERPRISE SIZE, 2023-2031 ($ MILLION)
31. EUROPEAN WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY END-USER, 2023-2031 ($ MILLION)
32. ASIA-PACIFIC WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
33. ASIA-PACIFIC WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
34. ASIA-PACIFIC WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2023-2031 ($ MILLION)
35. ASIA-PACIFIC WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY ENTERPRISE SIZE, 2023-2031 ($ MILLION)
36. ASIA-PACIFIC WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY END-USER, 2023-2031 ($ MILLION)
37. REST OF THE WORLD WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
38. REST OF THE WORLD WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
39. REST OF THE WORLD WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2023-2031 ($ MILLION)
40. REST OF THE WORLD WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY ENTERPRISE SIZE, 2023-2031 ($ MILLION)
41. REST OF THE WORLD WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET RESEARCH AND ANALYSIS BY END-USER, 2023-2031 ($ MILLION)
1. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET SHARE BY TYPE, 2023 VS 2031 (%)
2. GLOBAL WORKFORCE SCHEDULING AND WORKFORCE ANALYTICS IN WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET SHARE BY REGION, 2023 VS 2031 (%)
3. GLOBAL TIME AND ATTENDANCE MANAGEMENT IN WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET SHARE BY REGION, 2023 VS 2031 (%)
4. GLOBAL PERFORMANCE AND GOAL MANAGEMENT IN WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET SHARE BY REGION, 2023 VS 2031 (%)
5. GLOBAL ABSENCE AND LEAVE MANAGEMENT IN WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET SHARE BY REGION, 2023 VS 2031 (%)
6. GLOBAL OTHERS IN WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET SHARE BY REGION, 2023 VS 2031 (%)
7. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET SHARE BY DEPLOYMENT MODE, 2023 VS 2031 (%)
8. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE BASED ON-PREMISE MARKET SHARE BY REGION, 2023 VS 2031 (%)
9. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE BASED ON CLOUD MARKET SHARE BY REGION, 2023 VS 2031 (%)
10. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET SHARE BY ENTERPRISE SIZE, 2023 VS 2031 (%)
11. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE BY LARGE ENTERPRISES MARKET SHARE BY REGION, 2023 VS 2031 (%)
12. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE BY SMALL AND MEDIUM ENTERPRISES MARKET SHARE BY REGION, 2023 VS 2031 (%)
13. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET SHARE BY END-USER, 2023 VS 2031 (%)
14. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE FOR BFSI MARKET SHARE BY REGION, 2023 VS 2031 (%)
15. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE FOR CONSUMER GOODS AND RETAIL MARKET SHARE BY REGION, 2023 VS 2031 (%)
16. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE FOR AUTOMOTIVE MARKET SHARE BY REGION, 2023 VS 2031 (%)
17. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE FOR ENERGY AND UTILITIES MARKET SHARE BY REGION, 2023 VS 2031 (%)
18. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE FOR HEALTHCARE AND LIFE SCIENCES MARKET SHARE BY REGION, 2023 VS 2031 (%)
19. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE FOR MANUFACTURING MARKET SHARE BY REGION, 2023 VS 2031 (%)
20. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE FOR OTHERS MARKET SHARE BY REGION, 2023 VS 2031 (%)
21. GLOBAL WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET SHARE BY REGION, 2023 VS 2031 (%)
22. US WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET SIZE, 2023-2031 ($ MILLION)
23. CANADA WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET SIZE, 2023-2031 ($ MILLION)
24. UK WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET SIZE, 2023-2031 ($ MILLION)
25. FRANCE WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET SIZE, 2023-2031 ($ MILLION)
26. GERMANY WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET SIZE, 2023-2031 ($ MILLION)
27. ITALY WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET SIZE, 2023-2031 ($ MILLION)
28. SPAIN WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET SIZE, 2023-2031 ($ MILLION)
29. REST OF EUROPE WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET SIZE, 2023-2031 ($ MILLION)
30. INDIA WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET SIZE, 2023-2031 ($ MILLION)
31. CHINA WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET SIZE, 2023-2031 ($ MILLION)
32. JAPAN WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET SIZE, 2023-2031 ($ MILLION)
33. SOUTH KOREA WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET SIZE, 2023-2031 ($ MILLION)
34. REST OF ASIA-PACIFIC WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET SIZE, 2023-2031 ($ MILLION)
35. REST OF THE WORLD WORKFORCE MANAGEMENT (WFM) SOFTWARE MARKET SIZE, 2023-2031 ($ MILLION)
