Healthcare Workforce Management System Market Trends, Share, Demand and Future Outlook
Healthcare Workforce Management System Market Growth, Size, Trends Analysis-By Solution, By Mode of Delivery, By End-Use - Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Dec-2024 | Report ID: HLCA24103 | Pages: 1 - 261 | Formats*: |
| Category : Healthcare | |||
Healthcare Workforce Management System Market Introduction and Overview
According to SPER Market Research, the Global Healthcare Workforce Management System Market is estimated to reach USD 6.69 billion by 2033 with a CAGR of 13.41%.
The report includes an in-depth analysis of the Global Healthcare Workforce Management System Market, including market size and trends, product mix, Applications, and supplier analysis. Healthcare workforce management systems are specialist software solutions developed specifically for the healthcare industry to improve worker efficiency and effectiveness. These systems are designed for major hospitals and healthcare facilities, and they include features that streamline workforce management such as scheduling, leave management, payroll processing, and handling emergencies and shift changes.
- A cutting-edge workforce management program created especially for rural hospitals was introduced in November 2023 by Intelliworx, a company that specializes in workflow and process automation software. It is expected that this creative approach would help smaller healthcare institutions cut down on their employment expenses, simplify the hiring procedure, and improve the experience for both hospitals and prospective employees. Rural hospitals will be able to offer patients higher-quality healthcare services more quickly thanks to this new software, which will help them fill unfilled posts.
- Workday, Inc., a cloud-based enterprise management solution provider, announced a strategic agreement with Alight, Inc. in April 2023 to provide HR and payroll professionals with a worldwide, streamlined, and integrated payroll solution. The agreement will combine Alight Worklife, an innovative workforce technology platform, with Workday Human Capital Management to establish a single digital platform. This unified solution seeks to give organizations with a streamlined and consistent experience for managing their multinational workforce, allowing HR and payroll professionals to effectively address the issues of managing a global healthcare staff.
- ShiftMed, a hospital staffing service provider, revealed in February 2023 that it had raised USD 200 million from healthcare investors Panoramic Ventures to extend its healthcare workforce management system solutions throughout the region.
Market Opportunities and Challenges
Opportunities:
Growing Need for Efficient Human Resource Administration
The market for healthcare workforce management systems is expected to expand due to the use of cutting-edge human resource management techniques that make use of contemporary technologies. Across healthcare facilities, enterprise workforce management software streamlines hiring procedures, documentation, and performance evaluation. With the growing use of cloud-based solutions, these efficiencies create the foundation for future industry growth. Additionally, this trend is fueled by the growth of reasonably priced mobile technologies as well as the need for economical technical solutions among small and mid-sized businesses.
Challenges: Implementing and maintaining workforce management software may be expensive and complex, especially for smaller healthcare businesses with limited IT resources and budgets. The initial investment in software licensing, implementation fees, training, and ongoing support services might be prohibitively expensive for some firms, causing hesitation or delays in adoption. Integration Difficulties: To guarantee data interoperability and workflow continuity, healthcare workforce management software must smoothly interface with current systems, including payroll systems, electronic health records (EHRs), and human resources (HR) platforms. Nevertheless, disparities in data formats, system designs, and vendor compatibility problems can make it difficult to achieve seamless integration, which can result in data silos and interoperability problems.
Market Competitive Landscape
The healthcare workforce management system sector is highly competitive, with huge multinational corporations as well as small and medium-sized businesses battling for market share. The development and deployment of fresh advanced devices based on various technologies is an important market strategy. Key market players are IBM Corporation, Infor, Inc, Cornerstone OnDemand, Inc, Strata Decision Technology, LLC, QGenda, LLC, Symplr, Oracle Corporation, Kronos, Inc, McKesson Corporation, OSP Labs.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Solution, By Mode of Delivery, By End-Use. |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe. |
| Companies Covered | IBM Corporation, Infor, Inc, Cornerstone OnDemand, Inc, Strata Decision Technology, LLC, QGenda, LLC, Symplr, Oracle Corporation, Kronos, Inc, McKesson Corporation, OSP Labs. |
COVID-19 Impact on Global Healthcare Workforce Management System Market
The COVID-19 pandemic has had a significant impact on the hospital workforce management software market, driving up the adoption of digital solutions to support remote work, assure infection control compliance, and manage staffing problems in healthcare settings. Key effects of the pandemic on the market include:
Staffing Flexibility: During the pandemic, healthcare companies experienced extraordinary staffing issues as patient demand increased, staff shortages occurred, and quarantines were implemented. Workforce management software enabled firms to respond to changing staffing requirements, redeploy workers, and maintain enough staffing levels in vital areas while adhering to social distancing and quarantine regulations.
By Solution Insights
Based on the solution, the software segment dominated the market in 2023 and is predicted to grow the fastest over the forecast period. This section is separated into two categories: standalone and integrated software. In terms of standalone software, the time and attendance management segment had the highest revenue share in 2023. This sector is an important component of workforce management software since it assists healthcare firms in effectively managing their staff by tracking and monitoring employee attendance and schedules. The usage of time and attendance management solutions is predicted to skyrocket as the healthcare industry's demand for cost efficiency and productivity increases.
Key Target Audience:
- Healthcare Providers
- Healthcare Administrators
- Healthcare Professionals
- Technology Providers
- Government and Regulatory Agencies
- Consulting and Outsourcing Firms
- Educational and Training Institutions
- Investors and Financial Stakeholders
- Patients and Patient Advocacy Groups
- Research and Academic Organizations
Our in-depth analysis of the Healthcare Workforce Management System Market includes the following segments:
| By Solution: | |
| By Mode of Delivery: | |
| By End-Use: |
Key Topics Covered in the Report:
- Global Healthcare Workforce Management System Market Size (FY’2024-FY’2033)
- Overview of Global Healthcare Workforce Management System Market
- Segmentation of Global Healthcare Workforce Management System Market By Solution (Software, Services)
- Segmentation of Global Healthcare Workforce Management System Market By Mode Of Delivery (Web & Cloud-based, On-premise)
- Segmentation of Global Healthcare Workforce Management System Market By End-Use (Hospitals, Long-Term Care Centers, Nursing Homes Centers, Assisted Living Centers, Other Healthcare Institutions)
- Statistical Snap of Global Healthcare Workforce Management System Market
- Expansion Analysis of Global Healthcare Workforce Management System Market
- Problems and Obstacles in Global Healthcare Workforce Management System Market
- Competitive Landscape in the Global Healthcare Workforce Management System Market
- Impact of COVID-19 and Demonetization on Global Healthcare Workforce Management System Market
- Details on Current Investment in Global Healthcare Workforce Management System Market
- Competitive Analysis of Global Healthcare Workforce Management System Market
- Prominent Players in the Global Healthcare Workforce Management System Market
- SWOT Analysis of Global Healthcare Workforce Management System Market
- Global Healthcare Workforce Management System Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPERs internal database2.1.4. Premium insight from KOLs
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Healthcare Workforce Management System Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Healthcare Workforce Management System Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Healthcare Workforce Management System Market
7. Global Healthcare Workforce Management System Market, By Solution (USD Million) 2020-2033
7.1. Global Healthcare Workforce Management System Market Size, Share and Forecast, By Solution, 2020-20267.2. Global Healthcare Workforce Management System Market Size, Share and Forecast, By Solution, 2027-20337.3. Software
7.3.1. Standalone Software7.3.2. Integrated Software
7.4. Services
8. Global Healthcare Workforce Management System Market, By Mode of Delivery (USD Million) 2020-2033
8.1. Global Healthcare Workforce Management System Market Size, Share and Forecast, By Mode of Delivery, 2020-20268.2. Global Healthcare Workforce Management System Market Size, Share and Forecast, By Mode of Delivery, 2027-20338.3. Web & Cloud-based8.4. On-premise
9. Global Healthcare Workforce Management System Market, By End-Use (USD Million) 2020-2033
9.1. Global Healthcare Workforce Management System Market Size, Share and Forecast, By End-Use, 2020-20269.2. Global Healthcare Workforce Management System Market Size, Share and Forecast, By End-Use, 2027-20339.3. Advanced Packaging9.4. LED9.5. MEMs9.6. Power Devices
10. Global Healthcare Workforce Management System Market Forecast, 2020-2033 (USD Million)
10.1. Global Healthcare Workforce Management System Market Size and Market Share
11. Global Healthcare Workforce Management System Market, By Region, 2020-2033 (USD Million)
11.1. Global Healthcare Workforce Management System Market Size and Market Share By Region (2020-2026)11.2. Global Healthcare Workforce Management System Market Size and Market Share By Region (2027-2033)11.3. Asia-Pacific
11.3.1. Australia11.3.2. China11.3.3. India11.3.4. Japan11.3.5. South Korea11.3.6. Rest of Asia-Pacific
11.4. Europe
11.4.1. France11.4.2. Germany11.4.3. Italy11.4.4. Spain11.4.5. United Kingdom11.4.6. Rest of Europe
11.5. Middle East and Africa
11.5.1. Kingdom of Saudi Arabia11.5.2. United Arab Emirates11.5.3. Qatar11.5.4. South Africa11.5.5. Egypt11.5.6. Morocco11.5.7. Nigeria11.5.8. Rest of Middle-East and Africa
11.6. North America
11.6.1. Canada11.6.2. Mexico11.6.3. United States
11.7. Latin America
11.7.1. Argentina11.7.2. Brazil11.7.3. Rest of Latin America
12. Company Profile
12.1. IBM Corporation
12.1.1. Company details12.1.2. Financial outlook12.1.3. Product summary12.1.4. Recent developments
12.2. Infor, Inc
12.2.1. Company details12.2.2. Financial outlook12.2.3. Product summary12.2.4. Recent developments
12.3. Cornerstone OnDemand, Inc
12.3.1. Company details12.3.2. Financial outlook12.3.3. Product summary12.3.4. Recent developments
12.4. Strata Decision Technology, LLC
12.4.1. Company details12.4.2. Financial outlook12.4.3. Product summary12.4.4. Recent developments
12.5. QGenda, LLC
12.5.1. Company details12.5.2. Financial outlook12.5.3. Product summary12.5.4. Recent developments
12.6. Symplr
12.6.1. Company details12.6.2. Financial outlook12.6.3. Product summary12.6.4. Recent developments
12.7. Oracle Corporation
12.7.1. Company details12.7.2. Financial outlook12.7.3. Product summary12.7.4. Recent developments
12.8. Kronos, Inc
12.8.1. Company details12.8.2. Financial outlook12.8.3. Product summary12.8.4. Recent developments
12.9. McKesson Corporation
12.9.1. Company details12.9.2. Financial outlook12.9.3. Product summary12.9.4. Recent developments
12.10. OSP Labs
12.10.1. Company details12.10.2. Financial outlook12.10.3. Product summary12.10.4. Recent developments
12.11. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Healthcare Workforce Management System Market is projected to reach USD 6.69 billion by 2033, growing at a CAGR of 13.41% during the forecast period.
Healthcare Workforce Management System Market grew in Market size from 2024. The Market is expected to reach USD 6.69 billion by 2033, at a CAGR of 13.41% during the forecast period.
Healthcare Workforce Management System Market CAGR of 13.41% during the forecast period.
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Healthcare Workforce Management System Market size is USD 6.69 billion from 2024 to 2033.
Healthcare Workforce Management System Market is covered By Solution, By Mode of Delivery, By End-Use.
The North America is anticipated to have the highest Market share in the Healthcare Workforce Management System Market.
The key players in the Market include Companies Covered IBM Corporation, Infor, Inc, Cornerstone OnDemand, Inc, Strata Decision Technology, LLC, QGenda, LLC, Symplr, Oracle Corporation, Kronos, Inc, McKesson Corporation, OSP Labs.
Healthcare workforce management systems are specialist software solutions developed specifically for the healthcare industry to improve worker efficiency and effectiveness.
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