Skip to main content

Workforce SaaS Market will Reach $984 Million in 2018

Cloud-based software solutions, biometric terminals and mobile applications are among the key trends in the years to come for managing the workforce in business settings, according to the latest market study by IHS.

These trends increasingly point to a pattern where automated or remote systems are taking over individual and locally situated responses. These market dynamics generate significant growth opportunities for those companies that take advantage and innovate -- they will also displace the ones that fail to act.

The growth prospects are especially positive for cloud-based Software as a Service (SaaS). Revenue for the global SaaS market will rise to $983.9 million in 2018, that's up from $539.0 million in 2013.

"The adoption of SaaS will be driven by the strategic advantages offered to using cloud-based software," said Samuel Grinter, analyst at IHS. "The cloud enables customers to centralize management of workforce solutions over several sites, to outsource the information technology infrastructure required to host the software, and to pay for the solution as an operational expense rather than as a capital investment."

But the shift in technology from SaaS could be potentially disruptive. As customers become long-term subscribers instead of just occasional purchasers, variables like customer care, software features and competitive pricing will become increasingly important for vendors seeking to limit customer churn.

As a result, the prevailing landscape could alter dramatically, and market share among the current players could also enlarge or shrink in unexpected ways. Nonetheless, the increasing adoption of SaaS also means the market for such solutions will ultimately stabilize.

Upside for Biometric Terminals and Mobile Apps

Another key trend that will shape the workforce is the growing use of biometric terminals, replacing card- or PIN-based terminals. Last year, biometric hardware terminals represented over one-third of all hardware terminals sold globally in terms of revenue, with most of the sales taking the form of fingerprint terminals.

Driving the adoption of biometric terminals are the falling prices of the terminals, a need for a higher level of authenticating credentials and the wider adoption of biometrics.

Confidence in biometric technology is growing as consumers see how it is being implemented in new smartphones, reducing fears related to privacy concerns.

Mobile self-service apps also represent a new way of workforce management. A workforce mobile application in a smartphone, for instance, could give employees direct access to their human-resources data, or let them clock in or out remotely.

While the potential for abuse could increase with such technologies, companies could also save money by not needing to purchase as many hardware terminals for employee workforce management.

Popular posts from this blog

Hybrid Work: How to Enhance Employee Productivity

When you hire qualified talent for a key role and trust them to perform, you'll likely achieve the best outcome. Skilled and experienced people will deliver results, regardless of the challenges. That's a key lesson learned from the pandemic experience as most knowledge workers were asked to work from their homes. However, some resist returning to an open-plan office. It's unacceptable. Meanwhile, forward-thinking leaders decided a "return to normal" is undesirable, and in hindsight, everyone should aspire to be more accomodating than before. Therefore, location flexibility is okay. Hybrid Workforce Market Development How will people adapt to these changes? They'll apply the modern IT tools at their disposal. They'll learn new skills and thrive. Nearly 80 percent of employees are now successfully using online collaboration tools for work in 2021 -- that's up from just over half of workers in 2019, according to the latest market study by Gartner. This g

Mobility-as-a-Service Creates Disruptive Travel Options

Building on significant advances in big data, analytics, and the Internet of Things (IoT), more innovative transit service offerings aim to increase public transport ridership and reduce emissions or congestion within metropolitan areas. By providing these services through smartphone apps, the transit services also significantly increase user convenience, providing information on different human mobility offerings -- including public transport, ridesharing, and autonomous vehicles. Mobility-as-a-Service Market Development According to the latest market study by Juniper Research, Mobility-as-a-Service (MaaS) subscribers will generate $53 billion in revenue for MaaS platform providers by 2027 -- that's rising from $5.3 billion in 2021. Let's start with a basic definition. MaaS is the provision of multi-modal end-to-end travel services through single platforms, by which users can determine an optimal route and price. The study identified a monthly subscription model as key to incr

Upside for New 5G Network Transport Infrastructure

The global mobile communication sector is in the midst of a significant network infrastructure upgrade to support the introduction of new high-bandwidth and low-latency broadband service offerings.  Telecom service provider data centers have an important role in fifth-generation (5G) network deployments. Providers undergoing their transition to Stand-Alone (SA) 5G must understand the technical demands of telco data centers and the key enablers of those offerings. According to the latest worldwide market study by ABI Research, the major prerequisites of 5G and the emerging transport solutions would help operators position themselves to successfully capitalize on the new revenue opportunities from delivering differentiated 5G connectivity services. 5G Transport Network Market Development "The rise of the telco data center has a high degree of confluence with the requirements of SA 5G architectures. SA 5G and its increasing reliance on telco data centers can be attributed to the incr