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International market research firm Research and Markets has announced the publication of their "Global Workforce Management Software Market in the Retail Industry 2012-2016" report, reports prnewswire.co.uk.
One of the key factors contributing to the Workforce Management (WFM) Software market growth is the increased demand from Small and Medium-sized Enterprises. The global WFM market in the retail industry has also seen the emergence of cloud-based WFM solutions. However, the high cost of implementation could pose a challenge to the growth of this market.
Commenting on the report, an analyst from the team said: “One of the main trends witnessed in the Global Workforce Management Software market in the Retail industry is the cost reduction as a result of high competition. Competition among WFM players worldwide is increasing, which in turn is leading to an increase in price wars. This has forced many vendors to reduce the overall price of the product. Another reason for cost reduction is the availability of numerous local vendors that offer low-cost WFM solutions. This has forced WFM vendors to reduce the price as compared to their competitors with a view to capture the market. Moreover, vendors are decreasing prices to tap SMEs in the market.”
According to the report, one of the main factors driving the market is the increased investment from the retail industry in developing countries, which is due to the increase in the purchasing power of people in non-Western countries, compared to people in other regions. Further, both domestic and international products are being adopted in various developing courtiers.
Further, the report states that one of the main challenges is the limitations in network infrastructure in developing countries. However, due to limited infrastructure facilities, developing countries such as African countries, India, Sri Lanka, Pakistan, and Bangladesh are unable to provide the necessary support for enabling cloud-based and mobile workforce management solutions.
To access the full report, please click here.