(PharmaNewsWire.Com, August 05, 2018 ) The global healthcare workforce management systems market is estimated to be worth $761.8million by the end of 2014 and is expected to reach at $1,453.8 million by 2019, at a CAGR of 13.8% during the forecast period of 2014 to 2019. This market is mainly driven by the increasing need to curtail the rising healthcare costs and the technological advancements. Moreover, increasing demand of the healthcare professionals is also expected to contribute to the growth of the market. However, the market growth will be restrained, to an extent, due to factors such as high costs of software upgradation and maintenance and data privacy. <||>rnhttps://www.marketsandmarkets.com/Market-Reports/healthcare-workforce-management-systems-market-92262366.html
The global healthcare workforce management systems market is segmented based on solution, mode of delivery, end user, and geography. Based on solution, the workforce management market is classified into software and services market. The software market is divided into standalone software and integrated software. Standalone solution is further divided into time and attendance, scheduling, talent management, HR and payroll, analytics, and others. The workforce management services market covers the implementation, support, optimization, and education/training services. In addition, based on end user, the market is divided into hospital, nursing homes, assisted living, and long term care centers, and other healthcare institutions. Furthermore, based on the mode of delivery, the market is classified into on-premises, web-based, and cloud-based. The market is further divided into four major geographies, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW). These regions are further analyzed at the country level. The research report discusses the key market drivers, restraints, and opportunities of the global market and its submarkets. In 2014, the time and attendance software segment commands the largest share of the global workforce management systems market. The large share of the time and attendance can be attributed to its wide use in healthcare workforce management. The time and attendance software will continue to dominate this market by 2019, growing at a moderate CAGR during the forecast period. Furthermore, rising demand for healthcare professionals and implementation of stringent regulations are also expected to drive the growth of the market.
North America accounts for the largest share to the global healthcare workforce management systems market, followed by Europe, Asia-Pacific, and RoW. The APAC region is expected to grow at the highest CAGR during the forecast period, largely driven by the rapid growth in the healthcare industry.
Scope of the Report Healthcare organizations employ diverse individuals and are generally open 24 hours a day. Managing workforce in healthcare is a complex task which includes proper scheduling of workforce and track their time and attendance, to maintain workflow and deliver quality care to the patients. Healthcare organizations with workforce management solutions have resulted in improving their operational efficiencies and deliver performance levels that are incomparable in the industry. With multiple benefits in the form of enabling greater cost control, improving workforce productivity and efficiency, and bridging the gap between planning and execution of the workforce, while being better equipped to handle compliance risks, the global healthcare workforce management systems market is posed to grow at a double digit CAGR during the forecast period of 2014 to 2019.
The major players in the healthcare workforce management systems market include IBM Corporation (U.S.), Infor, Inc. (U.S.), Oracle Corporation (U.S.), Kronos, Inc. (U.S.), SAP AG (Germany), McKesson Corporation (U.S.), and Automatic Data Processing, Inc. (U.S.). Healthcare Workforce Management Systems Market, by Type Fo Software (2014 – 2019)
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