Workforce Management Software Market size was valued at USD 10.19 billion in 2024 and is set to reach USD 22.21 billion by the end of 2037, registering around 6.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of workforce management software is assessed at USD 10.7 billion.
The rising adoption of cutting-edge technologies such as cloud computing, and artificial intelligence (AI), in several businesses, processes, services, and industry verticals is positively impacting the demand for workflow management software.
The continuous need to modernize corporate processes by most of the end-use industries is leading to the rapid advancements of technology infrastructure and the improvement of data capabilities. There is growing adoption of innovation plans by businesses to adopt a digital-first approach for enabling smooth end-to-end interactions. This is predicted to bring in numerous market growth opportunities in the upcoming years.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
6.3% |
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Base Year Market Size (2024) |
USD 10.19 billion |
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Forecast Year Market Size (2037) |
USD 22.21 billion |
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Regional Scope |
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Deployment (On-Premise, Cloud)
The cloud segment in the workforce management software market is estimated to garner a share of 65% by the end of 2037. The growth is backed by the rapid adoption of cloud-based data storage systems worldwide by various business enterprises to store and access a large amount of data at a given point in time and on any device. For instance, it was observed that the total amount of data stored in the cloud globally is anticipated to reach 50% by 2025, up from about 25% of data stored in the cloud in the year 2015. The rise in the segment is accredited to the advantages of a cloud-based workflow management software that includes quick implementation, low cost of infrastructure, and anytime anywhere access.
Component (Software, Services)
The software segment in the workforce management software market is expected to augment with a growth rate of 70% by 2037. With the rising adoption of automation software programs for various business processes, the involvement of software is anticipated to brew up in overall workflow management. As of 2023, around 75% of companies are using marketing automation software. The workflow management software is significantly in demand by small and medium businesses with a low to medium complexity level of operations as it helps companies define and manage business activities and task sequences.
Our in-depth analysis of the global workforce management software market includes the following segments:
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Component |
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Deployment |
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End User Industry |
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North American Market Forecast
The workforce management software market in North America is projected to be the largest with a share of about 32% by 2037. The presence of a strong information technology (IT) infrastructure in the region and the rising adoption of ERP, CRM, and cloud services with growing automation across various industries of the United States, Canada, and others are anticipated to boost the regional market growth. As per recent research, it was found that over 50% of US companies are planning to increase automation investments after Covid-19.
APAC Market Statistics
The Asia Pacific workforce management software market is slated to register a share of about 27% by the end of 2037. The growth of the regional market can be attributed majorly to the growing digital transformation in emerging economies such as China as well as the increasing adoption of automation in various business processes across diverse sectors in the region.
Author Credits: Abhishek Verma
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