The back office workforce management market size is projected to reach US$ 9.14 billion by 2031 from US$ 3.99 billion in 2023. The market is expected to register a CAGR of 10.9% during 2023–2031. Cloud-based platforms and automation are likely to remain a key trend in the market.
The back office workforce management market is driven by the need for workforce optimization, increasing cloud deployment, and higher compliance with different regulatory mandates. More importantly, the pandemic has significantly impacted this market by rapidly accelerating the adoption of remote and flexible work arrangements and greatly increasing demand for solutions that allow remote work. Major market participants and the adoption of transparent, justified means of employee monitoring systems act as major growth drivers. Improved standards of workforce management with the integration of new technologies such as IoT and AI are also pumping up the market.
Back Office Workforce Management refers to the administration and coordination of internal business operations not directly associated with customers. It encompasses huge functionalities such as accounting, inventory management, supply-chain management, human resources, logistics, and IT services, among many more. The back office plays an essential role in supporting the front office team's objectives and goals by handling activities pertaining to administration, record maintenance, data management, and so forth. It may further involve effective management of resources, technology, and services to ensure proper flow of the organization's internal processes. The back office is important for workload optimization, customer and employee satisfaction, and, finally, driving improvements in operations.
Companies are increasingly looking towards application-based solutions to manage the back-office workforce with the aim of creating intelligent work environments. Being apprehensive about absorbing the benefits of mobility will cost tons in the long run due to the inefficiency that may result. In this regard, a mobile application can be used to provide a single platform at the center of creating a consistent experience across the connected employee base. Location monitoring enables enterprises to deliver relevant content and real-time notifications across the workforce for the creation of timely and pertinent experiences that ensure efficiency, productivity, and employee engagement. Mobile applications make it easier to log official days of work and all other details manually into the data system. It acts like one place through which all the digital touchpoints involved in the management of a workforce can be seamlessly integrated. Consolidation of work-related assets into one app, on the other hand, enables an enterprise to manage the smooth working of employees inside or outside the workplace and also communicate and collaborate with the management teams and coworkers. The growing level of recognition regarding the advantages of mobile app-based solutions for workforce management creates opportunities for players in the back office workforce management market.
One of the major trends that the market is likely to witness is the incorporation of robotic process automation into back office workforce management solutions. RPA is defined as a mechanism that proposes to acquire a bigger number of operational duties by robots, which in turn increases efficiency, productivity, and employee engagement. The new wave of demand for automation of workforce responsibilities is an excellent opportunity for the players involved in this industry. It can be used to gear up its capabilities in catering to new businesses that look toward optimizing operational processes and employee performance.
Key segments that contributed to the derivation of the back office workforce management market analysis are solution and end-use industry.
The geographic scope of the back office workforce management market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
In North America, the US stands out as a crucial market, with a substantial number of Fortune 500 companies headquartered in the country, driving the demand for back office workforce management solutions. The adoption of cloud-based workforce management solutions is on the rise in response to the increasing prevalence of remote work arrangements, enabling organizations to effectively monitor the working hours and productivity of employees operating from diverse locations.
The regional trends and factors influencing the Back Office Workforce Management Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Back Office Workforce Management Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 3.99 Billion |
| Market Size by 2031 | US$ 9.14 Billion |
| Global CAGR (2023 - 2031) | 10.9% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Solution
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Back Office Workforce Management Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Back Office Workforce Management Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The back office workforce management market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the back office workforce management market are listed below:
(Source: Inter Zapier Inc., Company Website, March 2024)
The “Back Office Workforce Management Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The market is projected to record a CAGR of 10.9% during 2023–2031.
The market is expected to reach a value of US$ 9.14 billion by 2031.
NICE Ltd., Open Text Corporation, Oracle Corporation, Genesys, Alvaria, Inc., Verint Systems, Inc., ActiveOps PLC, Calabrio Inc., Intradiem, and Team Software are key players in the market.
Cloud-based platforms and automation is a key trend in the market.
Increasing demand for mobile workforce management apps is driving the market.