The latest report by IMARC Group, titled “Workforce Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the global workforce management market growth. The global workforce management market size reached US$ 5.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.8 Billion by 2028, exhibiting a growth rate (CAGR) of 10.5% during 2023-2028.
Workspace-as-a-service (WaaS) represents a desktop virtualization solution utilized by enterprises to provide their employees with access to computer-generated business setup and organization data from remote locations. This service presents a simulated workspace that is identical to the physical office desktop. WaaS can be used with computers, smartphones, and laptops and integrated with bring your own apps (BYOA), bring your own devices (BYOD), and bring your own cloud (BYOC) solutions to minimize the risks of security breaches. It offers various other benefits, such as enhanced work-life balance, simplified file storage, increased employee productivity, a consistent working environment, and reduced operations costs. As a result, WaaS finds widespread applications across small-, medium-, and large-sized enterprises.
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Workforce Management Market Trends and Drivers:
The emerging trend of digitization across several industries, including retail, manufacturing, banking, financial services and insurance (BFSI), healthcare, and education, is among the primary factors driving the workspace-as-a-service (WaaS) market. Besides this, the escalating demand for cost-effecting virtual desktop virtualization and automation solutions is further augmenting the market growth. Moreover, WaaS enables the enterprises to facilitate logins from multiple users onto a virtual server and provide effective resource provisioning, load balancing, and network management capabilities, which is also catalyzing the global market. Apart from this, the extensive research and development (R&D) activities and the expanding information technology (IT) infrastructure are acting as significant growth-inducing factors. Additionally, the integration of connected devices with cloud computing systems and the internet of things (IoT) is also stimulating the market growth. Furthermore, the increasing utilization of digital business channels by various organizations to provide scalable workplace solutions on the personal devices of the employees and enhance the overall operational efficiency is expected to bolster the workspace-as-a-service (WaaS) market in the coming years.
The report has segmented the market into the following categories:
Breakup by Solution:
- Absence Management
- Performance Management
- Workforce Scheduling
- Time and Attendance Management
- Workforce Analytics
Breakup by Service:
- Implementation Services
- Support and Maintenance Services
- Training and Education Services
Breakup by Deployment Type:
Breakup by Organization Size:
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
Breakup by Vertical:
- Government and Defense
- Banking, Financial Services, and Insurance (BFSI)
- Transportation and Logistics
- Telecom and IT
- Consumer Goods and Retail
- Energy and Utilities
Breakup by Region:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Competitors Landscape with Key Players:
- Atoss Software AG
- HotSchedules Inc.
- Huntington Business Systems
- Kronos Inc.
- Oracle Corporation
- Reflexis Systems
- SAP SE
- Ultimate Software Group Inc.
- Verint Systems
- Workday Inc.
- WorkForce Software LLC
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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