Report Overview

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

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

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Asia Pacific Workforce Management Software Market Insights
   1. Industry Value Chain Analysis
      1. DROC Analysis
      2. Growth Drivers
         1. Growing Demand for Operational Efficiency and Streamline Workforce Processes
         2. Rising Use of Advanced Technologies
      3. Restraints
         1. Initial Implementation Costs
         2. Resistance to Change
      4. Opportunities
         1. Rising Emphasis on Remote Work
         2. Growing Small and Medium Enterprises (SMEs)
      5. Challenges
         1. Data Security Concerns
         2. Diverse Regulatory Landscape
   2. Technological Advancements/Recent Developments
   3. Regulatory Framework
   4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Asia Pacific Workforce Management Software Market Overview
   1. Market Product & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Type
         1. Workforce Scheduling & Workforce Analytics  
         2. Time & Attendance Management  
         3. Performance & Goal Management  
         4. Absence & Leave Management  
         5. Others
      2. By Deployment Mode
         1. On-premises  
         2. Cloud
      3. By End User Industry
         1. BFSI  
         2. Consumer Goods & Retail  
         3. Automotive  
         4. Energy & Utilities  
         5. Healthcare  
         6. Manufacturing  
         7. Others
      4. By Country
         1. China
         2. India
         3. Japan
         4. South Korea
         5. Australia & New Zealand
         6. Indonesia
         7. Malaysia
         8. Singapore
         9. Vietnam
         10. Rest of APAC
5. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Asia Pacific Workforce Management Software Company Market Share Analysis, 2023
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
6. Impact of Escalating Geopolitical Tensions on the Asia Pacific Workforce Management Software Market
7. Impact of Covid-19 on Asia Pacific Workforce Management Software Market
8. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
   1. Oracle
   2. ADP, Inc.
   3. Workday, Inc.
   4. Kronos Incorporated
   5. IBM Corporation
   6. SAP
   7. Sage Group plc
   8. Other Prominent Players
9. Key Strategic Recommendations
10. Research Methodology
    1.       Qualitative Research
       1.   Primary & Secondary Research
    2.       Quantitative Research
    3.       Market Breakdown & Data Triangulation
       1.   Secondary Research
       2.   Primary Research
    4.       Breakdown of Primary Research Respondents, By Country
    5.       Assumptions & Limitations

*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