Report : Europe 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 10.0% CAGR, the Europe Back-Office Workforce Management Market is speculated to be worth US$ 1,913.27 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe back-office workforce management market was valued at US$ 1,077.79 million in 2022 and is expected to reach US$ 1,913.27 million by 2028, registering an annual growth rate of 10.0% from 2022 to 2028. Increase in demand for cloud-based platforms for workforce management and requirement for automation in workforce tasks.
Artificial intelligence (AI) has proven to be significant in workforce management tasks as it assists companies in maximizing performance, costs, and employee satisfaction. Organizations with huge employee strength—reflecting enormous opportunities across different business segments and countries—may find it challenging to understand relevant and necessary skills and cross-check the eligibility criteria with the skills of job candidates. Employers can use AI in workforce management to examine the skill sets of their current employees and to match them with the required skillsets defined by managers by considering their abilities, prior work experience, and preferred career choices. AI can also be utilized in performance evaluation, which is another area of workforce management. AI-integrated solutions are also capable of managing huge data, and having reliable data at their disposal, they can produce reviews based on objective data rather than subjective human assessments, thereby enabling managers to evaluate employee performance fairly, without leading to any bias. For instance, Kloud9, a key player in the market, provides Kloud9 Intelligent Workforce management talent studio, capable of performing analytics, forecasting, and capacity planning with the help of AI capabilities. Thus, the integration of AI with workforce management solutions is likely to introduce new trends in the back-office workforce management market in the coming years. This is expected to drive the market during the forecast period.
On the contrary, confidentiality and safety concerns associated with cloud-based solutions hurdles the growth of Europe back-office workforce management market.
- Based on solution, the Europe 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 31.4% market share in 2022, amassing US$ 338.40 million. It is projected to garner US$ 629.77 million by 2028 to expand at 10.9% CAGR during 2022–2028.
- Based on end user, the Europe 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 31.0% market share in 2022, amassing US$ 334.40 million. It is projected to garner US$ 650.88 million by 2028 to expand at 11.7% CAGR during 2022–2028.
- Based on country, the Europe back-office workforce management market has been categorized into the Germany, UK, France, Italy, Russia, and Rest of Europe. Our regional analysis states that UK captured 30.5% market share in 2022. It was assessed at US$ 329.01 million in 2022 and is likely to hit US$ 630.23 million by 2028, exhibiting a CAGR of 11.4% during the forecast period.
Key players dominating the Europe 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 May 2022, ActiveOps Announces New Enhancements in ControliQ Workforce Management Software for Better Productivity for Businesses.
- In May 2022, Transport for NSW Selects Alvaria Workforce Engagement Management Suite for Back-Office and Agent Improvement Tools and Mobile Schedule Management.
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