Report : Asia Pacific Back-office workforce management Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Solution (Robotic Automation Process, Performance Management, Back Office Optimization, Process Analytics, and Others) and End User Industry (IT and Telecom, BFSI, Transportation, Retail and E-Commerce, Government, and Others)
At 12.5% CAGR, the Asia Pacific Back-Office Workforce Management Market is speculated to be worth US$ 1,698.44 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific back-office workforce management market was valued at US$ 839.13 million in 2022 and is expected to reach US$ 1,698.44 million by 2028, registering an annual growth rate of 12.5% from 2022 to 2028. Escalation in demand for cloud-based platforms for workforce management and essential for automation in workforce tasks.
Back-office functions require many personnel in many businesses and government organizations. Businesses are planning to reduce manual efforts required in back-office operations by automating these operations. Organizations seek to transform their back-office management practices by improving visibility and transparency, cutting down operational costs, enhancing customer/constituent experience, and increasing engagement. Workforce management platforms allow them to appoint resources with appropriate skill sets to meet the anticipated staffing requirements; moreover, these platforms help them predict the back-office staffing requirements. Back-office departments may need to undertake various types of tasks simultaneously, and all these tasks call for distinct expertise. Workforce management solutions help monitor the volume of incoming and outgoing work, including backlogged and deferred tasks, as most back-offices lack the automation capabilities necessary to simplify these tasks. The back-office workforce management solutions monitor the performance of employees through desktop analytics, which involves recording their desktop activities, monitoring job allocation and management, and keeping a log of manual check-ins and check-outs. Although the degree of automation may vary with the job type, all back-office workforce management tools can gather the vast amount of data needed to execute their job. For example, BambooHR, a back-office workforce management solution provider that majorly caters to medium-sized organizations, provides a solution with a comprehensive set of functions such as time and attendance monitoring, and recruitment automation. Thus, the need for automation in back-office workforce management fuels the market growth during the forecast period. This is expected to drive the market during the forecast period.
On the contrary, concealment and safety concerns associated with cloud-based solutions hurdles the growth of Asia Pacific back-office workforce management market.
- Based on solution, the Asia Pacific back-office workforce management market is categorized into robotic automation process, performance management, back-office optimization, process analytics, and others. The robotic automation process segment held 33.0% market share in 2022, amassing US$ 276.86 million. It is projected to garner US$ 585.39 million by 2028 to expand at 13.3% CAGR during 2022–2028.
- Based on end user, the Asia Pacific back-office workforce management market is categorized into IT and telecom, BFSI, transportation, retail and E-commerce, government, and others. The IT and telecom segment held 35.8% market share in 2022, amassing US$ 300.24 million. It is projected to garner US$ 652.36 million by 2028 to expand at 13.8% CAGR during 2022–2028.
- Based on country, the Asia Pacific back-office workforce management market has been categorized into the China, Japan, India, Australia, South Korea, and Rest of Asia Pacific. Our regional analysis states that China captured 31.6% market share in 2022. It was assessed at US$ 265.17 million in 2022 and is likely to hit US$ 550.30 million by 2028, exhibiting a CAGR of 12.9% during the forecast period.
Key players dominating the Asia Pacific back-office workforce management market are NICE Ltd.; Open Text Corporation; Verint Systems, Inc.; ActiveOps PLC; Alvaria, Inc.; Calabrio Inc.; Oracle Corporation; Genesys; Intradiem; and Team Software among others.
In Jun 2021, Calabrio Extends Cloud Workforce Engagement Management Capabilities in Southeast Asia.
- In May 2022, TriHealth Selects Oracle Fusion Cloud HCM to Centralize HR Processes.
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