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Workforce Management Software Market to Grow by USD 3.08 Billion (2024-2028), Driven by Regulatory Compliance, AI-Powered Report Highlights Market Trends – Technavio

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  NEW YORK, Nov. 12, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global workforce management software market size is estimated to grow by USD 3.08 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  7.66%  during the forecast period. Regulatory compliance associated with workforce management is driving market growth, with a trend towards rising adoption of digital HR technology. However, high implementation and maintenance cost of WFM software  poses a challenge.Key market players include 7shifts, ActiveOps PLC, Advanced Computer Software Group Ltd., ATOSS Software AG, Automatic Data Processing Inc., Bamboo HR LLC, International Business Machines Corp., Koch Industries Inc., NICE Ltd., Oracle Corp., Panasonic Holdings Corp., Paycor Inc., PTC Inc., Rippling People Center Inc., Sage Group Plc, SAP SE, UKG Inc., Verint Systems Inc., Workday Inc., Zoho Corp. Pvt. Ltd., and Ceridian HCM Holding Inc..

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Workforce Management Software Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 7.66%

Market growth 2024-2028

USD 3077.64 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

7.46

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 38%

Key countries

US, Canada, China, UK, and Germany

Key companies profiled

7shifts, ActiveOps PLC, Advanced Computer Software Group Ltd., ATOSS Software AG, Automatic Data Processing Inc., Bamboo HR LLC, International Business Machines Corp., Koch Industries Inc., NICE Ltd., Oracle Corp., Panasonic Holdings Corp., Paycor Inc., PTC Inc., Rippling People Center Inc., Sage Group Plc, SAP SE, UKG Inc., Verint Systems Inc., Workday Inc., Zoho Corp. Pvt. Ltd., and Ceridian HCM Holding Inc.

Market Driver

The Workforce Management Software market is witnessing significant growth due to the increasing trend of remote work and the need for efficient Employee Management, Labor Management, and HR Management in various industries. Healthcare, Construction, Packaging, Aerospace, and Manufacturing sectors are major end-users. Cloud computing, including private cloud, is driving the market with its benefits of process transparency and scalability. Key features include workforce prediction, scheduling, task management, rewards, and time and attendance. Vendors offer employee scheduling software, labor analytics, forecasting, and scheduling optimization. Big data, budgeting, and workforce scheduling are essential for workforce optimization. Remote workforces, including contact centers, back offices, and field service providers, require workforce management solutions for productivity and compliance with labor laws. AI and Machine Learning are integral for data analyzing and predictive analytics. The market is expected to grow further with the adoption of digital solutions, mobile applications, and hybrid workforces. 

Organizations are shifting their focus towards enhancing the employee experience by digitalizing HR processes and systems. This trend is driven by the increasing use of mobiles as a preferred channel for work by employees. Mobile applications, social media, analytics, and cloud technologies are key digital HR technologies playing a pivotal role in this transformation. By integrating these technologies, organizations can provide a single platform for managing HR functions, improving communication, and enhancing employee engagement. Digital HR technology enables the creation of mobile apps for various HR disciplines, leveraging video, social, and mobile technologies to enrich the employee experience. It also offers advanced analytics capabilities to gain insights into workforce performance and trends, enabling data-driven decision-making. Overall, digital HR technology is a game-changer for organizations, enabling them to streamline HR processes, improve employee engagement, and stay competitive in today’s digital world. 

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 Market Challenges

The Workforce Management Software market is experiencing significant growth due to the increasing need for efficient employee and labor management in various industries. Remote work and healthcare sectors face unique challenges in managing their workforces, requiring advanced software solutions for scheduling, task management, and time tracking. Businesses in industries such as construction, packaging, aerospace, and manufacturing require labor management software for optimizing workforce prediction, scheduling, and resource allocation. Cloud computing plays a crucial role in workforce management, with both public and private cloud solutions offering process transparency, scalability, and accessibility. HR management, employee scheduling, time and attendance, and labor analytics are key features of these software solutions. Workforce optimization, including predictive analytics and budgeting, is essential for businesses to stay competitive. AI and machine learning technologies are being adopted to improve productivity, customer service, and employee training. Compliance with labor laws and regulations is also a critical consideration. Vendors offering workforce management software must provide solutions that cater to hybrid workforces, including remote employees, in-store employees, field service providers, and contact centers. Big data and real-time analytics enable businesses to make informed decisions about workforce scheduling, forecasting, and budgeting. Overall, workforce management software is essential for businesses to effectively manage their workforces, ensuring productivity, compliance, and employee satisfaction.The workforce management software market faces a significant challenge due to the high cost of deployment. This expense consists of the software licensing fee, system design and customization costs, implementation costs, employee training expenses, and ongoing maintenance fees. Following the software purchase, organizations must hire IT personnel for proper implementation. Post-implementation, continuous upgrades are necessary to remain competitive. Consequently, the high implementation and maintenance costs may impede the expansion of the global workforce management software market during the forecast period.

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Segment Overview 

This workforce management software market report extensively covers market segmentation by  

End-user 1.1 IT and telecom1.2 BFSI1.3 Healthcare1.4 Manufacturing1.5 Consumer goods and retail and othersDeployment 2.1 Cloud based2.2 On-premisesGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 IT and telecom-  Cloud-based workforce management software allows employees to access the system from anywhere with an internet connection, enabling remote workforce management, time tracking, scheduling, and communication. The cloud- segment is projected to expand rapidly due to its ability to collect, store, and provide global information from a single access point. This information can be updated in real-time and is accessible anytime, anywhere. Cloud-based applications ensure reliability, offer enterprise visibility, and accommodate unique HR requirements worldwide. Deployment is faster compared to on-premises solutions, and updates and new features can be seamlessly rolled out by providers. These benefits have fueled the growing demand for cloud-based workforce management software, particularly in dynamic and remote work environments. This trend is expected to continue driving the growth of the global workforce management software market during the forecast period.

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Research Analysis

The Workforce Management Software market is a dynamic and evolving industry that caters to businesses seeking to optimize their workforce and streamline operations. This software is essential for managing remote teams, healthcare organizations, and various industries such as retail, hospitality, and field services. Employee management, labor management, and staff management are key functionalities, enabling businesses to schedule, track time, and manage tasks effectively. Workforce prediction, forecasting, and scheduling optimization use big data and AI for productivity gains. Mobile applications allow for real-time access to in-store employees and field service providers. Compliance with labor laws is ensured through integrated features. Additionally, employee training, labor analytics, and customer service are enhanced with business intelligence solutions, contact center platforms, and predictive analytics. Hybrid workforces require flexible solutions that cater to IT resources and various work environments.

Market Research Overview

The Workforce Management Software market is a dynamic and evolving industry that caters to businesses seeking to optimize their workforce in various sectors. This software enables effective Employee management, Labor management, and HR management through features like Remote work support, Scheduling, Task management, and Time and Attendance tracking. The market spans across industries such as Healthcare, Construction, Packaging, Aerospace, and Manufacturing, among others. Cloud computing, including Private cloud, plays a significant role in the market’s growth, ensuring Process transparency, scalability, and Accessibility. Workforce prediction, Forecasting, and Scheduling Optimization are crucial components, utilizing Big Data, AI, and Machine Learning for improved efficiency. Remote workforces, including Contact centers, Back offices, and Field service providers, are increasingly adopting these digital solutions for productivity enhancement. The market also caters to in-store employees, IT resources, and Hybrid workforces, addressing the need for Workforce optimization. Employment-to-population ratio, Budgeting, and Resource allocation are essential aspects of Workforce Management, with the market offering advanced Labor analytics and Fatigue management tools. The market is subject to various Labor laws and regulations, making compliance a priority for Workforce Management vendors. Mobile applications and Business Intelligence solutions are transforming the industry, providing real-time insights and enhancing workforce management capabilities. The market continues to evolve, incorporating Predictive analytics, AI, and Rewards systems to boost productivity and customer service.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userIT And TelecomBFSIHealthcareManufacturingConsumer Goods And Retail And OthersDeploymentCloud BasedOn-premisesGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Cineverse Podcast Network Expands with Midnight Pulp and RetroCrush Audio Series, and New True Crime Show Creepy Places

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New Shows Join Top-10 Podcast Network as it Celebrates Record Growth Driven by Popular Horror Lineup Under the BloodyFM Sub-brand

LOS ANGELES, Nov. 25, 2024 /PRNewswire/ — Cineverse Podcast Network, the audio division of next-gen entertainment studio Cineverse (Nasdaq: CNVS), has today announced a major expansion that goes well beyond its horror roots. Now home to popular entertainment, true crime and horror podcasts, the Cineverse Podcast Network is well-positioned to build upon its recent success.

In fact, Cineverse has grown its podcast revenue 98% during the fiscal quarter that ended Sept. 30 year over year and 60% from the previous quarter. The Cineverse Podcast Network also recorded 15 million downloads and listens in October, setting a new monthly record.

Among the drivers of this growth is Creepy Places: A True Crime Podcast, which recently launched via a partnership between Cineverse’s fan-first horror brand Bloody Disgusting and host Jon Grilz. The popular show at the intersection of true crime and historical hauntings has attracted 1.3 million monthly downloads since premiering in September and joins other additions to Cineverse’s growing podcast portfolio:

The iconic horror brand Dead Meat brings its dedicated fan base and over 200 episodes to Cineverse with the recently signed Dead Meat Podcast, hosted by Chelsea Rebecca and James A. Janisse, creators of the Dead Meat YouTube channel with over 6.6 million subscribers.Extending Cineverse’s popular action/cult movie streaming brand of the same name, Midnight Pulp will premiere in 2025. Hosted by Diana Prince, who plays “Darcy the Mail Girl” on Shudder’s top series The Last Drive-in with Joe Bob Briggs, each episode of the podcast will explore an entry from the streaming video channel, with Prince taking questions from listeners on everything from relationship advice to movie recommendations.Following a soft launch earlier this year, RetroCrush is Cineverse’s first official podcast created for anime fans. Hosts Malcolm Crawford, C2 and “it’s Eman” – three well-known anime fans – explore the hidden gems and popular shows featured on Cineverse’s RetroCrush streaming channel in weekly episodes.

“From partnering with talent and IP that come with pre-existing fan bases, to leveraging our owned-and-operated brands like Bloody Disgusting, Midnight Pulp and RetroCrush – all part of the company through strategic acquisitions from the past few years – we have quietly built one of the industry’s top podcast networks,” said Cineverse President and Chief Strategy Officer Erick Opeka. “Creators and partners – including advertisers, platforms and studios – are seeing this success and now coming to us to explore opportunities to work together in audio, and we are well-positioned to grow even further in the new year.”

These new podcasts follow other recently released shows on the Cineverse Podcast Network:

Mayfair Watchers Society: The chart-topping fiction podcast returned in May with Season 2, featuring 24 episodes every other week. Created in partnership with Trevor Henderson, the author of Scarewaves and prominent horror artist, the series brings Henderson’s creatures to life and features a full cast, original music and immersive sound design.Nightmare Soup: The horror fiction anthology podcast also premiered earlier this year, taking listeners back to their favorite horror stories from childhood. Inspired by iconic books like Scary Stories to Tell in the Dark and Goosebumps, the 10-episode series airs every other Sunday.

Now home to more than 50 shows and ranking among the top 10 podcast networks by audience, the Cineverse Podcast Network has set the stage for significant ad sales growth over the next few quarters.

ABOUT CINEVERSE

On a mission to uplift storytellers and entertain fans with the power of technology, Cineverse  (NASDAQ: CNVS) distributes over 71,000 premium films, series, and podcasts. Engaging over 150 million unique monthly users, Cineverse delivers more than one billion minutes of curated content each month – connecting fans with stories that resonate.

With properties like the box office sensation Terrifier 3, iconic horror destination Bloody Disgusting, the Bob Ross Channel, women’s entertainment channel Dove, and a leading podcast network, Cineverse is the first stop for audiences seeking authentic and experiential content. From a vibrant range of content and fandom channels, to next-gen advertising offerings and streaming solutions, Cineverse is setting the stage for a new era of entertainment.

Press Contacts:

For Media
The Lippin Group for Cineverse, cineverse@lippingroup.com

For Investors
Julie Milstead, investorrelations@cineverse.com

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SOURCE Cineverse Corp.

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Neighborly Appoints Stacy Lynn Bourgeois as Chief Marketing Officer

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WACO, Texas, Nov. 25, 2024 /PRNewswire/ —  Neighborly®, the world’s largest home services company, today announced the appointment of Stacy Lynn Bourgeois as its new Chief Marketing Officer (CMO), effective December 2. She will serve as a member of Neighborly’s corporate leadership team and report directly to CEO Mike Davis.

Stacy Lynn brings a wide array of experience in business and brand strategy, organizational leadership, customer insight, data analytics, and marketing technology,” said Davis. “Her expertise and innovative approach to marketing will be instrumental in helping us better connect with our customers, differentiating our brands, making Neighborly and our service brands ridiculously easy to do business with while navigating an increasingly competitive landscape.”

The fanatical focus on the end consumer also serves Neighborly’s core mission of driving same-store sales growth with its franchise business owners. Bourgeois’ mixed background in both franchising and non-franchised business makes her uniquely qualified to deliver for both our customers, end-consumers, and franchise business owners.

Bourgeois is a strategic marketer who has driven double-digit growth while compiling a breadth of experiences. Throughout her career, she has launched new physical and digital products as well as a new restaurant concept at Yum! brands, stood up several new teams such as performance marketing and data science, implemented a new marketing technology stack, and led Pizza Hut through an agency review and countless creative campaigns.

She joins Neighborly from Amazon, where she broadened her scope from marketing to business more holistically in roles such as Global Head of Product, Quality & Operations for Amazon Renewed or U.S. Head of Musical Instruments. In her time with Amazon, she’s enhanced the discoverability of preowned products, increased conversion rates, simplified customer experience, improved operations, and owned a multibillion-dollar P&L. Even in general management-focused roles, she’s anchored on driving growth through the customer – such as offering free lessons with an instrument purchase on Amazon.

I am thrilled to be joining the incredible team at Neighborly and support our franchise owners,” said Bourgeois. “Customers invite Neighborly and our brands into their homes, which is deeply personal and requires tremendous trust. My goal is to earn this trust by listening to and innovating for customers in a way that builds lasting relationships with our amazing brands.”

Bourgeois will be based in Irving, Texas.

About Neighborly®

Neighborly® is the world’s largest home services company with more than 30 brands and 5,500 franchises collectively serving 14 million+ customers by repairing, maintaining, and enhancing their homes and businesses. Through Neighborly.com and the Neighborly mobile app, we connect consumers to local service providers that meet rigorous franchisor standards across 19 service categories. More information about Neighborly, and its franchise concepts, is available at Neighborlybrands.com. To learn about franchising opportunities with Neighborly, click here.

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SOURCE Neighborly

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EHA Highlights Commitment to Innovation and Collaboration at ASH Annual Meeting

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THE HAGUE, Netherlands, Nov. 25, 2024 /PRNewswire/ — The European Hematology Association (EHA) will showcase its dedication to advancing research and fostering collaboration at the 66th American Society of Hematology (ASH) Annual Meeting and Exposition from December 7-10, 2024, in San Diego, California, USA.

The partnership between EHA and ASH is testament to both organizations’ commitment to progress and improving patient care. The EHA-ASH Joint Symposium, scheduled for Sunday, December 8 from 12:30-13:30 (PDT), will focus on myelodysplastic syndromes, showcasing expert insights from Amy DeZern of Johns Hopkins University and Matteo Della Porta of Humanitas Cancer Center. EHA President Antonio Almeida remarked, “The collaboration between EHA and ASH holds immense significance for the global medical community. Both organizations serve as pivotal platforms for advancing the understanding, research, education, and treatment of blood disorders. […] By combining our strengths, together, we can enhance research, education, advocacy, and patient care, generating significant benefits that resonate across nations and communities.” This joint session is another milestone in a fruitful collaboration that continues to shape the future of hematology.

In 2024, EHA reached unprecedented levels of engagement, connecting more professionals than ever. Membership surged by 25%, bringing EHA’s community to over 8,300 members, and the EHA2024 Congress attracted a record-breaking 17,900 delegates. This growth reflects EHA’s commitment to a member-focused approach, empowering professionals to exchange knowledge, collaborate on research, and share best practices on a global scale.

HemaSphere, EHA’s peer-reviewed journal, has recently achieved a significant milestone with a 2023 Impact Factor of 11.9, ranking it seventh among hematology journals globally. This development is a testament to the high-quality, cutting-edge research that HemaSphere publishes and its value to the hematology community.

With a vision for “Borderless Hematology,” EHA will continue to drive global connectivity, innovation, and excellence.

ASH delegates are invited to learn about EHA at booth #300.

About EHA

The European Hematology Association (EHA) is a membership organization serving a community of over 8,000 medical professionals, researchers, and scientists with an active interest in hematology. EHA is the largest Europe-based organization connecting hematologists worldwide and supports career development and research, harmonizes hematology education, and advocates for hematologists and hematology.

Website: www.ehaweb.org

“Towards prevention, cure, and quality of life for all patients with blood disorders”.

Logo – https://mma.prnewswire.com/media/2461261/4811631/European_Hematology_Association_Logo.jpg 

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SOURCE European Hematology Association (EHA)

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