Asia Pacific Workforce Management Software Market
Asia Pacific Workforce Management Software Market, By Type (Workforce Scheduling & Workforce Analytics, Time & Attendance Management, Performance & Goal Management, Absence & Leave Management, Others); By Deployment Mode (On-premises, Cloud); By End User Industry (BFSI, Consumer Goods & Retail, Automotive, Energy & Utilities, Healthcare, Manufacturing, Others); By Country (China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Vietnam, Rest of APAC), Trend Analysis, Competitive Landscape & Forecast, 2019–2030
- Published Date: February 2024
- Report ID: BWC24135
- Available Format: PDF
- Page: 400
Report Overview
A heightened focus on improving operational efficiency, streamlining workforce processes, and growing adoption of advanced technologies are expected to boost the growth of Asia Pacific Workforce Management Software Market during the forecast period between 2024 and 2030.
Asia Pacific Workforce Management Software Market - Industry Trends & Forecast Report, 2030
The Asia Pacific Workforce Management Software Market size was estimated to be worth USD 1.45 billion in 2023. During the forecast period between 2024 and 2030, the Asia Pacific Workforce Management Software Market size is projected to grow at a CAGR of 9.38%, reaching a value of USD 2.49 billion by 2030. Major growth factors for the Asia Pacific Workforce Management Software Market include growing popularity of remote working culture and increasing integration of advanced technologies, such as cloud computing, artificial intelligence (AI), and machine learning (ML). Furthermore, automation and digitization among companies is anticipated to present lucrative growth opportunities to players in the Asia Pacific Workforce Management Software Market.
Workforce Management Software – Overview
The term "workforce management" describes the procedures and equipment that businesses use to maximize the effectiveness and output of their workforce. Workforce management ensures that all resources are available when and where they are needed to maximize employee productivity. Workforce management includes skills management, scheduling, forecasting, timekeeping, attendance, and intraday management. A workforce management system is a technology that increases worker productivity and streamlines essential HR functions. It primarily achieves these objectives by employing analytics to inform corporate choices and automating labor-intensive administrative procedures.
Asia Pacific Workforce Management Software Market
Growth Drivers
Launch of New Products in Workforce Management Software
With rising integration of advanced technologies, such as AI, machine learning, and IoT, the industry players are launching new products to deal with the changing trends and demand for the organizations. For instance, Infor, an enterprise software company based in the United States, launched Work Force Management solution in China to efficiently manage workforce and business during the COVID-19 pandemic. In another instance, Intellicus Technologies, a data analytics startup based in India, launched omnichannel workforce management solution ‘Flow’ that integrates Business Process Management (BPM), with technologies, including cloud technologies, ML, and AI. Such launches are anticipated to drive the Asia Pacific Workforce Management Software Market during the period in analysis.
Challenges
Lack of Awareness about Workforce Management Software
Although workforce management software is increasingly gaining traction among organizations, its use is highly saturated among large organizations only. The low acceptance of workforce management software acts as a major restraining factor for its global market growth. Small and medium-sized enterprises (SMEs) are reluctant to use workforce management software because of their limited workforce and the software’s high price, which will significantly increase SME’s operation cost. Furthermore, lack of trained professionals in SMEs to handle workforce management software may act as a barrier to market growth over the forecast period.
Impact of Escalating Geopolitical Tensions on Asia Pacific Workforce Management Software Market
The escalating geopolitical tensions are disrupting the growth of Asia Pacific Workforce Management Software. Conflicts and war-like situations directly impact the operations of organizations. For example, Israel is a major supplier of workforce management software, with several industry leaders and startups, including Timing.tech, Ubeya App, and Hibob, providing services to Asia Pacific countries. However, with the escalation of the Israel-Hamas war, these companies faced significant challenges due to a shortage of workers owing to mandatory army reserves. It has adversely affected the availability of Israeli Workforce Management Software and impeded the market expansion in Asia Pacific.
Asia Pacific Workforce Management Software Market
Segmental Coverage
Asia Pacific Workforce Management Software Market – By Type
Based on type, the Asia Pacific Workforce Management Software Market is segmented into workforce scheduling & workforce analytics, time & attendance management, performance & goal management, absence & leave management, and others. The time & attendance management segment accounts for the highest market share. Managing time and attendance of the workforce is essential to the operation of any successful business. It is also crucial for compliance, productivity, payroll accuracy, and workforce management in general, in addition to guaranteeing that workers are present and on time.
Asia Pacific Workforce Management Software Market – By Deployment Mode
Based on deployment mode, the Asia Pacific Workforce Management Software Market is bifurcated into on-premises and cloud segments. The cloud segment holds a larger share in the Asia Pacific Workforce Management Software. There are several benefits to cloud deployment for software development, including dependability, flexibility, and cost-effectiveness. Developers can scale up or down resources as needed, as cloud service providers base their charges on use and demand. Developers benefit from the cloud's common pool of resources when deploying programs and data, as opposed to being restricted to an in-house system.
Asia Pacific Workforce Management Software Market – By End User Industry
Based on the end user industry, the Asia Pacific Workforce Management Software Market is segmented into BFSI, consumer goods & retail, automotive, energy & utilities, healthcare, manufacturing, and others. The healthcare segment accounts for the highest market share, mainly due to a high number of healthcare professionals and frontline workers. The COVID-19 pandemic further proliferated the need for workforce management software, as it helped streamline human resource operations, staff scheduling, attendance, and leaves, which resulted in improved organizational efficiency in hospitals.
Asia Pacific Workforce Management Software Market – By Country
The in-depth research report on the Asia Pacific Workforce Management Software Market covers a number of countries, including China, India, Japan, South Korea, Australia and New Zealand, Indonesia, Malaysia, Singapore, Vietnam, and rest of APAC. China dominates the Asia Pacific Workforce Management Software Market owing to flourishing industry verticals, including manufacturing, automotive, and consumer goods. As a result, companies are adopting advanced technologies and software, including workforce management software, to efficiently manage their employees, which is driving market growth in China. Following China, India and Singapore also cover substantial market growth.
Competitive Landscape
Major players operating in the Asia Pacific Workforce Management Software Market include Oracle, ADP, Inc., Workday, Inc., Kronos Incorporated, IBM Corporation, SAP, and Sage Group plc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
Recent Developments
-
In June 2023 – Hybr1d, a workforce management platform based in Singapore, had raised USD 3.2 million in a pre-seed round with Global Founders Capital, MS&AD, 468 Capital, and 1982 Ventures leading the investment.
Scope of the Report
Attributes |
Details |
Years Considered |
Historical Data – 2019–2023 |
Base Year – 2023 |
|
Estimated Year – 2024 |
|
Forecast Period – 2024–2030 |
|
Facts Covered |
Revenue in USD Billion |
Market Coverage |
China, India, Japan, South Korea, Australia and New Zealand, Indonesia, Malaysia, Singapore, Vietnam, Rest of APAC |
Product/ Service Segmentation |
Type, Deployment Mode, End User Industry, Country |
Key Players |
Oracle, ADP, Inc., Workday, Inc., Kronos Incorporated, IBM Corporation, SAP, Sage Group plc |
By Type
-
Workforce Scheduling & Workforce Analytics
-
Time & Attendance Management
-
Performance & Goal Management
-
Absence & Leave Management
-
Others
By Deployment Mode
-
On-premises
-
Cloud
By End User Industry
-
BFSI
-
Consumer Goods & Retail
-
Automotive
-
Energy & Utilities
-
Healthcare
-
Manufacturing
-
Others
By Country
-
China
-
India
-
Japan
-
South Korea
-
Australia & New Zealand
-
Indonesia
-
Malaysia
-
Singapore
-
Vietnam
-
Rest of APAC
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Executive Summary
- Asia Pacific Workforce Management Software Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Growing Demand for Operational Efficiency and Streamline Workforce Processes
- Rising Use of Advanced Technologies
- Restraints
- Initial Implementation Costs
- Resistance to Change
- Opportunities
- Rising Emphasis on Remote Work
- Growing Small and Medium Enterprises (SMEs)
- Challenges
- Data Security Concerns
- Diverse Regulatory Landscape
- Technological Advancements/Recent Developments
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- Industry Value Chain Analysis
- Asia Pacific Workforce Management Software Market Overview
- Market Product & Forecast, 2019–2030
- By Value (USD Billion)
- Market Share & Forecast
- By Type
- Workforce Scheduling & Workforce Analytics
- Time & Attendance Management
- Performance & Goal Management
- Absence & Leave Management
- Others
- By Deployment Mode
- On-premises
- Cloud
- By End User Industry
- BFSI
- Consumer Goods & Retail
- Automotive
- Energy & Utilities
- Healthcare
- Manufacturing
- Others
- By Country
- China
- India
- Japan
- South Korea
- Australia & New Zealand
- Indonesia
- Malaysia
- Singapore
- Vietnam
- Rest of APAC
- By Type
- Market Product & Forecast, 2019–2030
- Competitive Landscape
- List of Key Players and Their Offerings
- Asia Pacific Workforce Management Software Company Market Share Analysis, 2023
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
- Impact of Escalating Geopolitical Tensions on the Asia Pacific Workforce Management Software Market
- Impact of Covid-19 on Asia Pacific Workforce Management Software Market
- Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- Oracle
- ADP, Inc.
- Workday, Inc.
- Kronos Incorporated
- IBM Corporation
- SAP
- Sage Group plc
- Other Prominent Players
- Key Strategic Recommendations
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Country
- Assumptions & Limitations
- Qualitative Research
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
List of Figures
Figure 1 Asia Pacific Workforce Management Software Segmentation
Figure 2 Asia Pacific Workforce Management Software Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2023
Figure 4 Asia Pacific Workforce Management Software Market Share, By Type, By Value, 2019–2030
Figure 5 Asia Pacific Workforce Management Software Market Share, By Deployment Mode, By Value, 2019–2030
Figure 6 Asia Pacific Workforce Management Software Market Share, By End-user Industry, By Value, 2019–2030
Figure 7 Asia Pacific Workforce Management Software Market Share, By Country, By Value, 2019–2030
List of Tables
Table 1 Asia Pacific Workforce Management Software Market, By Value (USD Billion), 2019–2030
Table 2 Asia Pacific Workforce Management Software Market, By Type, By Value, 2019–2030
Table 3 Asia Pacific Workforce Management Software Market, By Deployment Mode, By Value, 2019–2030
Table 4 Asia Pacific Workforce Management Software Market, By End-user Industry, By Value, 2019–2030
Table 5 Asia Pacific Workforce Management Software Market, By Country, By Value, 2019–2030
Table 6 Oracle Company Overview
Table 7 Oracle Financial Overview
Table 8 ADP, Inc. Company Overview
Table 9 ADP, Inc. Financial Overview
Table 10 Workday, Inc. Company Overview
Table 11 Workday, Inc. Financial Overview
Table 12 Kronos Incorporated Company Overview
Table 13 Kronos Incorporated Financial Overview
Table 14 IBM Corporation Company Overview
Table 15 IBM Corporation Financial Overview
Table 16 SAP Company Overview
Table 17 SAP Financial Overview
Table 18 Sage Group plc Company Overview
Table 19 Sage Group plc Financial Overview
Market Segmentation
To request a free sample copy of this report, please complete the form below.
We value your investment and offer free customization with every report to fulfil your exact research needs.
Frequently Asked Questions (FAQs):
RELATED REPORTS
WHY CHOOSE US
-
24/7 Research Support
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
-
Custom Research Service
Ask the Analyst to customize an exclusive study to serve your research needs
-
Quality & Accuracy
Ask the Analyst to customize an exclusive study to serve your research needs
-
Data Visualization
As the business world is changing dynamically every day. We need to stay pin point in relation to data management and optimum data utilization
-
Information security
We never share your personal and confidential information. Your personal information is safe and secure with us.