Workforce Management Software Market Size - By Software Type (Workforce Scheduling and Optimization, Time and Attendance Management, Employee Performance Management, Workforce Analytics), Deployment model (On-premises, Cloud), End-user & Forecast, 2024 - 2032
Published Date: March - 2025 | Publisher: MIR | No of Pages: 240 | Industry: Media and IT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationWorkforce Management Software Market Size
Workforce Management Software Market value was USD 8.8 billion in 2023 and anticipated to progress at more than 8.5% CAGR from 2024-2032. The growth in the market is fueled by an increase in remote work solutions. The COVID-19 pandemic quickened the introduction of remote and flexible work plans. A total of 98% of participants in a survey done by Buffer in 2023 indicated a need to continue working remotely, even if just as part of the career. The number reveals a slight increase from 97% in 2022.
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Besides, an equal 98% would now advise others to work remotely, up from the 97% that was seen in 2022. In general, 91% of respondents indicate that they have had a satisfactory and positive experience with remote work. WFM software and tools became essential for the management of remote workers and ensuring they stay productive. Since remote work continues to be a major component of the job environment, even as the pandemic subsides, the need for WFM solutions will keep holding steady in the coming years, fortifying the workforce management market outlook.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Workforce Management Software Market Size in 2023 | USD 8.8 Billion |
| Forecast Period | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR | 8.5% |
| 2032 Value Projection | USD 18.2 Billion |
| Historical Data for | 2018 - 2023 |
| No. of Pages | 250 |
| Tables, Charts & Figures | 281 |
| Segments covered | Software type, Deployment model, and End-user |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
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Greater focus on workforce optimization is likely to propel the WFM software market until 2032. Organizations are placing a lot of focus on optimizing their workforce to enhance productivity, minimize labor expenses, and deliver better customer service. WFM solutions enable companies to allocate resources more effectively, schedule workers, and manage workloads more efficiently, thus creating a greater demand for these solutions.
For example, in January 2023, Accenture and UKG, a leading provider of HR, payroll, and workforce management solutions, partnered to help Ardent Health Services improve workforce visibility and flexibility across its large network of 30 hospitals and 200 care facilities. Ardent is also making a transformation in its workforce operations, ranging from clocking to scheduling, to enable frontline workers with more flexible scheduling choices that improve work-life balance. At the same time, their biggest priority is providing excellent healthcare services.
But the process of implementing a WFM system is not always easy and quick. It usually involves integration with current HR and payroll systems, as well as employee training on how to utilize the new technology. The difficulty of integrating these systems and having them work together harmoniously can be a hindrance for some organizations, particularly smaller ones with fewer IT resources. Fear of disruption during the implementation process can also hold back WFM adoption.
COVID-19 Impact
The COVID-19 pandemic had a profound impact on the workforce management (WFM) software market. It accelerated the adoption of remote work, leading to increased demand for WFM tools that could effectively manage distributed teams. WFM solutions became essential for ensuring employee productivity, safety, and compliance with evolving labor regulations. The pandemic highlighted the importance of agile scheduling and workforce optimization, making WFM technology a critical component for organizations adapting to the new work landscape.
Workforce Management Software Market Trends
The integration of artificial intelligence (AI) and predictive analytics in WFM systems is expected to become more prevalent and will facilitate industry expansion over 2023-2032. These technologies can help organizations forecast staffing needs with greater accuracy, optimize employee scheduling, and identify trends in employee performance. By leveraging AI and analytics, WFM tools can become more proactive and data-driven. Quoting an instance, in March 2023, UJET, Inc., a forward-thinking contact center platform, unveiled UJET WFM in collaboration with Google Cloud.
This workforce management suite, seamlessly integrated into the Google Cloud Contact Center AI Platform, introduces innovative business intelligence solutions for the contact center sector. UJET WFM delivers precise forecasting, scheduling, and real-time adherence monitoring to enhance the performance and satisfaction of remote contact center agents, ultimately elevating the overall customer experience. The improving technological landscape, in line with the increased acceptance of remote and hybrid work models, will drive the demand for WFM solutions to manage hybrid workforces effectively.
Workforce Management Software Market Analysis
Learn more about the key segments shaping this market
Based on software type, the time and attendance management segment accounted for 25% of the market share in 2023, led by the need for greater efficiency and productivity in today's workplaces. Businesses are increasingly recognizing the importance of accurate time tracking to control labor costs, ensure compliance with labor laws, and improve resource allocation.
Additionally, the rise of remote and flexible work arrangements necessitates robust time and attendance management tools to monitor and manage remote employees effectively. With a growing emphasis on workforce optimization, organizations seek these solutions to enhance operational effectiveness and streamline payroll processes, contributing to the overall demand.
Learn more about the key segments shaping this market
Based on deployment model, the cloud segment held around 35% of the workforce management software market share in 2023. The demand for cloud-based workforce management solutions is fueled by the scalability and accessibility of cloud technology, making them ideal for businesses of all sizes. It allows organizations to efficiently manage their workforce from anywhere, accommodating the growing trend of remote and distributed workforces. Cloud solutions also offer cost savings by reducing the need for on-premises infrastructure and maintenance. Moreover, the flexibility and real-time data access provided by cloud-based systems enable agile decision-making, enhancing operational efficiency and workforce productivity, further driving their adoption.
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North America workforce management software market recorded 30% of the revenue share in 2023, due to the region's advanced technological infrastructure and early adoption of digital solutions. With a robust economy, North American businesses are increasingly prioritizing workforce optimization to stay competitive. The COVID-19 pandemic accelerated the demand for remote work solutions, boosting WFM adoption. For instance, Salesforce implemented WFM tools to manage remote agents effectively during the pandemic. Moreover, stringent labor regulations in North America, such as overtime laws, make WFM systems essential for compliance, further fueling industry growth.
Workforce Management Software Market Share
Oracle Corporation and SAP SE dominate the workforce management (WFM) software industry. These companies are focusing on innovative developments in AI and cloud technologies, forging strategic partnerships, diversifying service portfolios, and strengthening data security measures. Such measures help address the ever-changing needs of their clientele while simultaneously ensuring compliance with evolving regulatory requirements.
Workforce Management Software Market Companies
Major companies operating in the workforce management (WFM) software industry are
- Oracle Corporation
- SAP SE
- ADP, Inc.
- Workday Inc.
- Microsoft Corporation
- IBM Corporation
- UKG Inc.
Workforce Management Software Industry News
- In September 2023, Oracle Corp., a prominent database software company, announced its expanded presence in the healthcare sector by integrating additional workforce management features into its Oracle Fusion Cloud Human Capital Management offering. These newly introduced tools empower healthcare providers to navigate the ever-evolving labor landscape within the industry. They facilitate more effective workforce organization to align with patient needs while also improving staff retention and recruitment efforts.
The workforce management (WFM) software market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments
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Market, By Software Type
- Workforce Scheduling and Optimization
- Time and Attendance Management
- Employee Performance Management
- Workforce Analytics
- Others
Market, By Deployment Model
- On-premises
- Cloud
Market, By End-user
- Retail
- Healthcare
- Manufacturing
- BFSI
- IT and Telecom
- Others
The above information has been provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Southeast Asia
- ANZ
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- UAE
- Saudi Arabia
- South Africa
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