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Workforce Management Software Market Trends

Report ID: GMI7173
Published Date: Jul 2024
Report Format: PDF

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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.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of workforce management software reached USD 8.8 billion in 2023 and is set to expand at 8.5% CAGR from 2024 to 2032, due to the rising demand for remote work solutions worldwide.

The time and attendance management software type segment held over 25% of the market share in 2023, owing to the dire need for greater efficiency and productivity in today's workplaces.

North America market held over 30% of the revenue share in 2023, attributed to the presence of an advanced technological infrastructure and early adoption of digital solutions in the region.

Oracle Corporation, SAP SE, ADP, Inc., Workday Inc., Microsoft Corporation, IBM Corporation, and UKG Inc., are some of the major workforce management software companies worldwide.