Persistence Market Research
Labor Management System Market: A Snapshot
Labor management system market is in its nascent stages of development. It is expected to witness significant growth during the near future, thanks to rising awareness about benefits to end-users. Labor management system market players aim at offering all-in-one solutions which includes human resource management, field service management, data collection, performance and training management, budgeting, recruiting, scheduling, forecasting, and analytics. The systems are becoming increasingly appealing in distribution, manufacturing, retail, and transportation. These systems are also referred to as ERP, HRM, and workforce management systems.
Trends in the labor management system market are pointing towards inclusion of more field service management. Field service management requires a complete transparency and cumbersome planning in order to meet the needs of employees within a set budget.
Many companies often require their employees to regularly visit and consult clients, which directly affects the bottom-line. Hence, there is a growing demand for transparent cloud-based solutions. Additionally, smartphone connected devices are expected to create new opportunities in the labor management system market.
Key players in the labor management system market offer three types of systems. These include hosted solutions, wherein the service provider hosts the equipment, data center, and other hardware to simply rent out a service. Other popular form of labor management system is cloud-based. This is becoming increasingly popular due to cost-efficiency and additional connectivity. Large companies opt for on-premise labor management system due to their additional security and reliability.
In early 80s and 90s, issues like supply chain management were extremely popular for addressing core entrepreneurial challenges. Labor management system market is giving rise to many solutions rooted in core practices of businesses worldwide.
Labor management system are used to reduce labor costs while decreasing employee turnover by rewarding efficiency, quality and safety. Moreover, labor management system is a software application that takes employee activity data and reports productivity levels on a group of employees, or individual employees.
Labor Management System market: Drivers and Challenges
The major growth drivers of the Labor Management System market include mobile access and increasing demand cloud-based enterprise applications. In addition, Use of Labor Management System in various industry verticals shall drive the growth of Labor Management System market. Advancements in industrial IT infrastructure across the globe has led to growth of the Labor Management System across the globe.
However, the major challenge faced by the labor management systems providers are high deployment cost incurred. This impede the companies to adopt a labor management system. Lack of awareness of the benefits and operational effectiveness of the technologically advanced systems may have negative impact on the labor management system market. Uncertainty about the deployment of these systems because of the high initial investment needed may hamper the growth of the labor management system market across the globe.
Labor Management System market: Segmentation
Global Labor Management System Market can be segmented as:
Labor Management System market Segmentation on the basis of By Deployment:
Todays, business have lot of choices when it comes to data storage. These choices include On-premise deployment and cloud based deployment.
Labor Management System market Segmentation on the basis of By Enterprise type:
On the basis of enterprise type Labor Management System market is segmented into large enterprise and small and medium enterprise. Labor Management System are adopted in these enterprises.
Labor Management System market Segmentation on the basis of Industry:
Labor Management System market can be segmented on the basis of industry, means areas where Labor Management System are used. Industry includes BFSI, Manufacturing, healthcare, Utilities and others.
Labor Management System market: Competition Landscape
Labor Management System market: Key contracts
Key Contracts in Labor Management System market are as:
Labor Management System market: Key Players
Some of the major players in Global Labor Management System Market are TZA, Highjump, Infor, Kronus, Manhattan assoc., Red prairie, SAP, Epay, Velarium and Honeywell Intelligrated
Labor Management System market: Regional Overview
North America is holding the largest market share for Labor Management System market due to technological advancements in enterprise applications, rising adaptation of cloud-based labor management systems and low cost in initial implementation. Due to high adaptation in various industry verticals in Asia Pacific will hold maximum market share for Labor Management System in near future. Europe is fastest growing market for Labor Management System due to increase in adaptation of advanced labor management systems in small and medium enterprises. Sturdy economic progress, driving the growth of Labor Management System market in MEA region. The Demand for Labor Management System market has risen dramatically over the past 2 years globally.
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
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