Global Workforce Management Market to Reach $10.8 Billion by 2027
Amid the COVID-19 crisis, the global market for Workforce Management estimated at US$5.9 Billion in the year 2020, is projected to reach a revised size of US$10.8 Billion by 2027, growing at aCAGR of 9.1% over the period 2020-2027. Cloud, one of the segments analyzed in the report, is projected to record 10.3% CAGR and reach US$5.4 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the On-premises segment is readjusted to a revised 8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.7 Billion, While China is Forecast to Grow at 8.4% CAGR
The Workforce Management market in the U.S. is estimated at US$1.7 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.9 Billion by the year 2027 trailing a CAGR of 8.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.5% and 7.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 7.2% CAGR.We bring years of research experience to this 6th edition of our report. The 191-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others,
- ADP LLC
- IBM Corporation
- Kronos, Inc.
- Oracle Corporation
- SAP SE
- Workday, Inc.
- WorkForce Software