Global Healthcare Workforce Management System Market Forecast to 2029: Rising Need to Curtail Healthcare Costs to Drive Growth, Growing Competitiveness Fueling Opportunities (2024)

Research and Markets

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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 (1)

Global Healthcare Workforce Management System Market

Global Healthcare Workforce Management System Market Forecast to 2029: Rising Need to Curtail Healthcare Costs to Drive Growth, Growing Competitiveness Fueling Opportunities (2)

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.

Global Healthcare Workforce Management System Market Forecast to 2029: Rising Need to Curtail Healthcare Costs to Drive Growth, Growing Competitiveness Fueling Opportunities (3)

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

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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Global Healthcare Workforce Management System Market Forecast to 2029: Rising Need to Curtail Healthcare Costs to Drive Growth, Growing Competitiveness Fueling Opportunities (2024)

FAQs

What is the future of healthcare workforce? ›

Health workers are healthcare's most valuable asset, yet the sector's most precious resource faces a number of challenges. Pre-COVID-19, the World Health Organization (WHO) estimated a shortfall of 18 million health workers by 2030, mostly in low- and lower-middle income jurisdictions.

How big is the work management market? ›

The global workforce management market size was USD 9.42 billion in 2023, calculated at USD 10.53 billion in 2024 and is expected to reach around USD 31.44 billion by 2034, expanding at a CAGR of 11.56% from 2024 to 2034.

What will healthcare be like in 2030? ›

By 2030, a consumer-centric healthcare system will be an imperative. Here's how to get there. The healthcare industry is facing major demographic changes that will dramatically impact which services are needed and how they are delivered.

What are the projections for healthcare workforce shortage? ›

A study by consulting firm Mercer projected that the U.S. would face significant healthcare worker shortages in the coming decade. By 2025, the firm forecasts a shortage of more than 400,000 home health aides and 29,400 nurse practitioners. There will also be shortages in other healthcare professions.

How big is the global BMS market? ›

According to the latest research, the global Battery Management System (BMS) market size was valued at USD 10819.95 million in 2022 and is expected to expand at a CAGR of 6.68% during the forecast period, reaching USD 15948.81 million by 2028.

What is the WFM market? ›

The workforce management market provides various solutions to simplify the work of the employees in organizations and provide them time to focus on more significant business aspects.

How big is the global workplace training market? ›

Corporate Training Market Insights

Global Corporate Training Market size was valued at USD 151.75 billion in 2019 and is poised to grow from USD 163.58 billion in 2023 to USD 487.3 billion by 2031, growing at a CAGR of 8% in the forecast period (2024-2031).

What are the forces of future change in healthcare? ›

The strongest of these forces can be grouped into three broad categories: (1) changing health care needs, (2) technological advances (including information and biomedical technologies), and (3) continued cost pressures.

What is the outlook for the healthcare workforce? ›

The U.S. Chamber of Commerce anticipates an increased demand for healthcare and pharmaceutical workers, expecting over 3.3 million new jobs in the next 7 years. The BLS expects the sector will create about 45% of all projected job gains from 2022 to 2032.

What does the future hold for healthcare? ›

Ten trends for the next decade are evident: 1) more patients, 2) more technology, 3) more information, 4) the patient as the ultimate consumer, 5) development of a different delivery model, 6) innovation driven by competition, 7) increasing costs, 8) increasing numbers of uninsured, 9) less pay for providers, and 10) ...

What is the projected health workforce for 2030? ›

WHO estimates a projected shortfall of 10 million health workers by 2030, mostly in low- and lower-middle income countries. However, countries at all levels of socioeconomic development face, to varying degrees, difficulties in the education, employment, deployment, retention, and performance of their workforce.

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