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Global Healthcare Workforce Management System Market Forecast To 2029: Rising Need To Curtail Healthcare Costs To Drive Growth, Growing Competitiveness Fueling Opportunities
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Dublin, July 19, 2024 (GLOBE NEWSWIRE) -- The "Global Healthcare Workforce Management System Market by Component (Software: Scheduling, Talent Management, Analytics, Service: Optimization, Consulting, Support), Type (Standalone, Integrated), End User (Hospital, Nursing Home) - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global healthcare workforce management systems market is projected to reach USD 2.8 billion by 2029, from USD 1.7 billion in 2024, at a CAGR of 10.1%
The report dives into the global healthcare workforce management systems market, aiming to assess its current size and predict its future growth. It accomplishes this by segmenting the market based on various factors including component, deployment, organization size, end user, and geographical location. By understanding these market segments, the report offers insights into the opportunities available for businesses in this field. Additionally, it analyzes the factors that can influence the market's growth, such as drivers, restraints, and opportunities. It also examines the competitive landscape, providing details on the major players in the market. Lastly, the report forecasts revenue for the market segments across four major regions.
Factors such as growing need to curtail healthcare costs through effective management of healthcare workforce and increasing adoption of cloud-based healthcare workforce management solutions are driving the market growth. However, data security concerns to inhibit the growth of the healthcare workforce management systems market may hamper the growth of this market to a definite extent.
In 2024, North America is expected to hold the largest share of the healthcare workforce management systems market followed by Europe. However, Asia Pacific is deemed to register the highest growth rate from 2024-2027. The high growth of this regional segment is credited due to the fast growth of healthcare infrastructure, specifically in emerging economies, coupled with increasing investments in digital healthcare technologies, and a growing emphasis on patient-centric care models.
Services are expected to grow at the highest CAGR from 2024-2029.
Based on components, healthcare workforce management systems market is divided into software and services. The services segment is stated to hold the highest growth rate during the forecast period, factors such services play a vital role in the healthcare workforce management market by providing implementation, support, optimization/consulting, and training services for healthcare organizations. Services help organizations build successful customer relationships by continuously supporting them throughout their business tenure.
Support and maintenance services segment to dominate the healthcare workforce management systems market from 2024-2029.
The services market is segmented as support and maintenance services, optimization/consulting services, implementation services, and education and training services. Support & maintenance services accounted for the largest share of the healthcare workforce management services market in 2024. The healthcare organizations need to comply with various workforce related regulations, which forces them to update the existing workforce management systems in compliance with the changed regulations. This in turn drives the market for support and maintenance services.
Reasons to Buy the Report:
- Market Penetration: extensive information on healthcare workforce management systems offered by the top 25 players in the healthcare workforce management systems market. The report analyses the healthcare workforce management systems market by component, deployment, organization size, end user, and region.
- Analysis of key drivers (growing need to curtail healthcare costs through effective management of healthcare workforce, increasing need to manage regulatory compliance through effective utilization of workforce management systems, and increasing adoption of cloud-based healthcare workforce management solutions), restrains (data security concerns to inhibit the growth of the healthcare workforce management systems, and higher costs of deployment workforce management systems), opportunities (increasing demand of healthcare professionals across the world, and growing competitiveness to drive workforce optimization in the healthcare industry), and challenges (integration concerns hindering the market) are contributing the growth of the healthcare workforce management systems market.
- Market Development: Comprehensive information about economic emerging markets. The report analyses the markets for various healthcare workforce management systems across key geographic regions.
- Product Development/Innovation: Detailed insights on upcoming trends, research & development activities, and new product/service launches in the healthcare workforce management systems market.
- Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the healthcare workforce management systems market.
- Company profiling: In-depth assessment of company profiling and their market ranking and strategies of the leading players in the healthcare workforce management systems market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 386 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $1.7 Billion |
| Forecasted Market Value (USD) by 2029 | $2.8 Billion |
| Compound Annual Growth Rate | 10.1% |
| Regions Covered | Global |
Premium Insights
- Rising Need to Curtail Healthcare Costs to Drive Market Growth
- Services Segment to Register Highest CAGR During Forecast Period
- Asia-Pacific Market to Grow at Highest CAGR During Forecast Period
- India to Witness Highest Growth Rate in Healthcare Workforce Management Systems Market During Forecast Period
- Emerging Economies to Register Higher Growth Rates During Forecast Period
Market Dynamics
Drivers
- Rising Need to Curtail Healthcare Costs Through Effective Management of Healthcare Workforce
- Increasing Adoption of Cloud-based Healthcare Workforce Management Solutions
- Growing Demand for Workforce Optimization and Mobile Applications
- Growing Need to Manage Regulatory Compliance Through Effective Utilization of Workforce Management Systems
Restraints
- Privacy & Data Security Concerns
- High Cost of Deployment
Opportunities
- Increasing Demand for Healthcare Professionals
- Growing Competitiveness
Challenges
- Integration Concerns
- Trends/Disruptions Impacting Customers' Businesses
Industry Trends
- Technology Integration
- AI-Powered Predictive Analytics
- Mobile Workforce Management
- Remote Work Solutions
- Focus on Staff Well-Being and Burnout Prevention
- Customizable Reporting and Analytics
Technology Analysis
- Key Technologies
- Mobile Apps
- Cloud Computing
- Predictive Analytics
- Complementary Technologies
- Artificial Intelligence
- Machine Learning
- Adjacent Technologies
- Internet of Things
Company Profiles
- Automatic Data Processing, Inc.
- Ukg Inc.
- Infor
- Oracle Corporation
- SAP SE
- Workday, Inc.
- Atoss Software AG
- Workforce Software, LLC
- Paycor Hcm, Inc.
- Dayforce, Inc.
- Zoho Corporation Pvt. Ltd.
- Rippling People Center Inc.
- Connecteam
- Cornerstone
- Strata Decision Technology
- Symplr
- Bamboohr LLC
- Hireology
- Deputy
- Paylocity Holding Corporation
- Shiftboard, Inc.
- Humanforce Holdings Pty Ltd.
- T3 Workforce
- Legion Technologies, Inc.
- Quinyx Ab
For more information about this report visit https://www.researchandmarkets.com/r/6uw75n
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First published on Fri, Jul 19, 2024
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