Workforce management in Europe refers to the strategic planning, organization, and optimization of a company's human resources to meet business objectives within the European job market and regulatory context. It involves various functions, such as workforce scheduling, time and attendance tracking, workforce analytics, and labor compliance. European workforce management considers labor laws, cultural diversity, and language differences across the continent. The European workforce faces unique challenges, including a diverse workforce, varying labor regulations by country, and a mobile workforce due to the Schengen Agreement.
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Data Bridge Market Research analyses that the Europe Workforce Management Market is expected to grow at a CAGR of 10.4% in the forecast period of 2023 to 2030 and is expected to reach USD 2,652,883.65 thousand by 2030 from USD 12,02,169.25 thousand in 2022. In the hypercompetitive market, businesses strive to enhance profits and expand. To achieve this, there's a critical need to reduce human resource expenses, as it significantly impacts profitability. Enterprises focus on cost compression to boost their bottom line and remain competitive in today's challenging business landscape.
Key Findings of the Study
Growing adoption of cloud-based solutions is expected to drive the market's growth rate
The rising popularity of cloud-based workforce management solutions is attributed to their inherent benefits. These solutions offer scalability, allowing organizations to adapt their workforce management capabilities to changing requirements easily. They provide flexibility by enabling remote accessibility and management across multiple locations. Cloud solutions ensure real-time data synchronization, automatic updates, and robust data security, ensuring efficient and secure workforce-related information management.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Thousand, Volumes in Units, Pricing in USD
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Segments Covered
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Offering (Solutions and Services), Organization Size (Large Enterprise and Small and Medium Enterprises), Operating Systems (Windows, Android, iOS, LINUX, and Others), Deployment Model (Cloud and On-Premises), End-User (Banking, Financial Services and Insurance, Automotive, Telecom and IT, Manufacturing, Healthcare, Defense and Government, Transportation and Logistics, Consumer Goods and Retail, Energy and Utilities Solutions, and Others)
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Countries Covered
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Germany, U.K., France, Italy, Spain, Russia, Netherlands, Switzerland, Belgium, Turkey, Hungary, Austria, Luxemburg, and Rest of Europe
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Market Players Covered
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UKG Inc. (U.S.), Reflexis Systems Inc. (U.S.), SAP (Germany), Verint Systems Inc. (U.S.), ADP (U.S.), ATOSS Software AG (Germany), NICE (U.S.), Workday Inc. (U.S.), Visier Inc. (Canada), Ceridian HCM Inc. (U.S.), Paylocity (U.S.), Paycom Payroll LLC (U.S.), SumTotal Systems LLC (U.S.), Infor (U.S.), Cegid Meta4 (Spain), Ramco Systems (India), Replicon (U.S.), IBM (U.S.), INFORM Software (Germany), InVision AG (Germany), and Oracle (U.S.) among others
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Segment Analysis:
The Europe workforce management market is segmented based on offering, organization size, operating systems, deployment model, and end-user.
- On the basis of offering, the Europe workforce management market is segmented into solutions and services.
- On the basis of deployment model, the Europe workforce management market is segmented into on-premises and cloud.
- On the basis of organization size, the Europe workforce management market is segmented into large enterprise and small and medium enterprises.
- On the basis of operating systems, the Europe workforce management market is segmented into windows, android, iOS, linux, and others.
- On the basis of end-user, the Europe workforce management market is segmented into banking, financial services and insurance, automotive, telecom and IT, manufacturing, healthcare, defense and government, transportation and logistics, consumer goods and retail, energy and utilities solutions, and others.
Major Players
Data Bridge Market Research recognizes the following companies as the major Europe Workforce management market players in Europe Workforce management market are Paylocity (U.S.), Paycom Payroll LLC (U.S.), SumTotal Systems LLC (U.S.), Infor (U.S.), Cegid Meta4 (Spain), Ramco Systems (India), Replicon (U.S.), IBM (U.S.), INFORM Software (Germany), InVision AG (Germany), and Oracle (U.S.).
Market Developments
- In May 2022, IBM Corporation and EY joined forces to tackle workforce challenges. Their collaboration led to the creation of the Talent Center of Excellence (COE), focused on developing innovative AI and hybrid cloud solutions. This collaboration aimed to revolutionize payroll services by leveraging cutting-edge technologies. By combining IBM's expertise in AI and cloud computing with EY's industry knowledge, the alliance aimed to provide advanced solutions for payroll transformation services, addressing crucial workforce needs.
- In 2022, Center Parcs U.K. & Ireland selected Dayforce, offered by Ceridian HCM Inc., to enhance its workforce management. This strategic move aims to improve employee engagement, ensure regulatory compliance, and ultimately strengthen its market presence across the company's six locations in the U.K. and Ireland. Dayforce is expected to empower Center Parcs to efficiently manage its workforce, align with regulations, and maintain its competitive edge in the leisure and hospitality industry.
- In 2021, Visier, Inc. introduced Alpine Visier, a groundbreaking Platform as a Service (PaaS) offering. This innovative development has empowered the company to expand its customer offerings significantly. Alpine Visier provides a robust solution that attracts new clients and accelerates revenue growth. By leveraging this PaaS, Visier, Inc. has enhanced its competitiveness and ability to meet the evolving needs of its customer base in the dynamic business landscape.
- In 2020, Kronos and Ultimate Software merged to establish a premier cloud workforce management provider catering to diverse industries. This strategic union resulted in a global presence with offices worldwide and dual headquarters in Lowell, Massachusetts, and Weston, Florida. By combining their strengths, the merged entity aspired to offer comprehensive solutions for workforce management, encompassing a broad spectrum of businesses and industries.
Regional Analysis
Geographically, the countries covered in the Europe workforce management market report are Germany, U.K., France, Italy, Spain, Russia, Netherlands, Switzerland, Belgium, Turkey, Hungary, Austria, Luxemburg, and Rest of Europe.
As per Data Bridge Market Research analysis:
Germany is estimated to be the fastest-growing region in Europe workforce management market for the forecast period 2023-2030
Germany is the European workforce management market due to its reputation for a highly skilled and educated workforce. Many German workers possess expertise in crucial areas such as engineering and IT, essential for advancing workforce management solutions. This strong talent pool positions Germany as a key player in driving innovation and growth in workforce management across the European region.
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