Artificial Intelligence
Workforce Management (WFM) Market Size USD 6.16 Billion in 2019 and Estimated to Reach USD 18.82 Billion by 2026 at a CAGR of 18.75% | Vertical-based Retail Segment to Have Lions Share in the WFM Software Market
Pune, Feb. 15, 2021 (GLOBE NEWSWIRE) — Market Analysis With the increasing competition in the business environment, organizations worldwide are rapidly implementing WFM software solutions into their systems. Resultantly, the WFM software market is garnering significant traction worldwide. According to Market Research Future analysis, the global workforce management market was valued at USD 6,164.36 million in 2019 and has been estimated to reach USD 18.828.9 million by 2026 at a CAGR of 18.75% during the forecast period, 2020–2026..
There are huge benefits of implementing workforce management software into business systems, such as ensuring the health & safety of the employees, workforce planning & optimization, managing new ways of working, attracting & retaining employees by giving them more control, and forecasting & planning for the future.
Workforce management software helps optimizing workforce requirements, providing proper insight into employee costs and productivity, which then allows organizations to plan and optimize workforce deployment while maintaining the required levels of productivity.
A good workforce management software system also provides an efficient way to record remote employees’ working hours, track flexi balances, time in lieu, and manage planned/unplanned absences. WFM also helps employees manage their onsite/ remote working hours through a fully automated system or even on a mobile-based app through clocking or hour-based email timesheets. Get Free Sample PDF Brochure: COVID-19 Impact on the Global Workforce Management Market In the wake of the Covid-19 disruption, many organizations identified the need to improve employee time, attendance, and scheduling processes, ensuring the right people with the right skills are in the right place at the right time. Resultantly, WFM software implementation increased rapidly in all sizes or organizations. With the help of WFM, employers could proactively manage their workforce’s time, attendance, schedules, and skills and cope with the current unpredictable environment.
COVID-19 Impact Analysis on Workforce Management Market: Market Segmentation The organization size segment is sub-segmented into large enterprises and small & medium enterprises (SMEs). Of these, the large enterprise segment spearheads the market share. The vertical segment is sub-segmented into defense, government, healthcare, retail, manufacturing, energy & utility, IT & telecommunication, BFSI, and others. Among these, the retail Segment is to have the lion’s share in the market.
Browse In-depth Market Research Report (123 pages) on WFM Software Market: Regional Analysis The North American workforce management market’s growth attributes to the increasing adoption of WFM solutions & services and the early adoption of advanced technologies such as cloud computing, machine learning, and artificial intelligence. Besides, the strong presence of leading workforce management vendors, alongside the rising demand for improved transparency in employer-employee relationships and operational efficiency, drives the market growth.
Europe acquires the second position in the global workforce management market. The market growth is mainly driven by the rising use of security workforce management software and the vast adoption of digital workplace solutions by midsize businesses. Additionally, the rising demand for data-driven decision-making and the growing adoption of a cloud-based deployment model in the region contribute to the growth of the regional market. The Asia Pacific region has emerged as a profitable market for workforce management solutions globally. The region demonstrates immense revenue growth opportunities as more and more enterprises are looking to automate their workforce management process. The proliferation of cloud technology, alongside the increasing strategic partnerships and investments by players operating in the region, influences the market growth.
Ask Your Queries: Competitive Landscape For instance, recently, on Jan. 11, 2021, Valsoft Corporation Inc. (the US), a leader in the acquisition & development of vertical market software businesses, announced the buyout (acquisition) of Softbrick, an industry leader in workforce management software solutions. Softbrick, with its stronghold in staff management solutions, makes an excellent addition to Aspire Software, a division of Valsoft.
Notable Players in The Global Workforce Management (WFM) Market Are: Browse Adjacent Markets: Software Market Research Reports & Consulting.
Industry Trends: Moreover, the rising demand for solutions to gain enhanced control over employees and increasing investments by enterprises in deploying modern time tracking tools to increase employee productivity escalates the workforce management software market growth. Besides, the proliferation of mobile devices in the working culture is encouraging businesses to invest in cloud-based WFM solutions infrastructure, allowing employees to log in and access information anytime and anywhere.
Browse Related Reports Global Mobile Workforce Management Market, by Deployment (Cloud, On-Premise), by End-User (BFSI, Communication, Logistics, Manufacturing, Procurement), by Tools (IOS, Android, MySQL)
Global Field Service Management Market Research Report Information By Component (Solutions, Services), Deployment (Cloud, On-Premise), Organization Size (Small & Medium enterprise, Large enterprise), and By Vertical (Manufacturing) About Market Research Future:
Workforce Management or WFM software offers a set of integrated processes that enable organizations to optimize their employees’ productivity by effectively forecasting labor requirements and creating & managing staff schedules to accomplish a certain task on a day-to-day and hour-to-hour basis.
https://www.marketresearchfuture.com/sample_request/2388
COVID 19 pandemic has positively impacted the workforce management market, fostering digitization and automation across the manufacturing sectors globally. The lockdown and physical distancing mandates imposed to control the COVID 19 spread forced many organizations to let their employees work from home. WFH or remote work location mandates shown how important it is to have an online system to manage employees in real-time and with accurate information.
https://www.marketresearchfuture.com/report/covid-19-impact-workforce-management-market
The workforce management market is segmented into vertical, organization size, deployment, component, and region. The component segment is sub-segmented into solutions and services. Of these, the solution segment accounts for the largest component segment, leading the market growth. The deployment segment is sub-segmented into on-premise and on-cloud. Of these, the cloud-based segment dominates the market.
https://www.marketresearchfuture.com/reports/workforce-management-market-2388
By region, the market is bifurcated into the Americas (US, Canada, Mexico, Rest-of-North America) and South America, Europe (the UK, Germany, France, Italy, and Rest-of-Europe), Asia Pacific (China, Japan, India, South Korea, and Rest-of-the-APAC), and Rest-of-the-World. Among these, North America holds the major share in the market, followed by Europe and the Asia Pacific region respectively.
https://www.marketresearchfuture.com/enquiry/2388
The workforce management market witnesses significant product launches and implementations of several strategic approaches, such as expansion, collaboration, mergers & acquisitions, and product launches. Mature industry players are making strategic investments in research and development activities and fostering their expansion plans.
Workforce management software solutions are being implemented across small and medium-sized enterprises to better manage their business operations while enhancing collaboration, productivity and simplifying related work requirements. In addition to the increasing number of enterprises adopting these solutions, the market growth also attributes to the rising adoption of employee monitoring solutions across the BFSI, IT & telecom, and retail industries.
Global Workforce Analytics Market, By Type (Solutions, Services), By Deployment (On Premise, on cloud) By Organization Size (Large, SME’s) and By Industry (Banking, Insurance Government, Retail, Logistics, Healthcare, Manufacturing).
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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Artificial Intelligence
Clarivate Announces Conversion Date and Conversion Rate for Series A Mandatory Convertible Preferred Shares
LONDON, May 30, 2024 /PRNewswire/ — Clarivate Plc (NYSE: CLVT; CLVT PR A) (“Clarivate”), a leading global provider of transformative intelligence, announced today that its 5.25% Series A Mandatory Convertible Preferred Shares (the “Preferred Shares”), will automatically and mandatorily convert into ordinary shares of Clarivate on June 3, 2024 (the “Conversion Date”). The mandatory conversion rate for each Preferred Share will be 3.8462 ordinary shares of Clarivate. Cash will be paid in lieu of fractional ordinary shares.
As previously announced on May 1, 2024, holders of record at the close of business on May 15, 2024 will separately receive a final quarterly cash dividend of $1.3125 per Preferred Share on June 3, 2024.
Cautionary Note Regarding Forward-Looking Statements
This communication contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These statements, which express management’s current views concerning future business, events, trends, contingencies, financial performance, or financial condition, appear at various places in this communication and may use words like “aim,” “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “goal,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “see,” “seek,” “should,” “strategy,” “strive,” “target,” “will,” and “would” and similar expressions, and variations or negatives of these words. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on management’s current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. These forward-looking statements involve a number of risks and uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include those factors discussed under the caption “Risk Factors” in our annual report on Form 10-K, along with our other filings with the U.S. Securities and Exchange Commission (“SEC”). However, those factors should not be considered to be a complete statement of all potential risks and uncertainties. Additional risks and uncertainties not known to us or that we currently deem immaterial may also adversely affect our business operations. Forward-looking statements are based only on information currently available to our management and speak only as of the date of this communication. We do not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, except as otherwise required by securities and other applicable laws. Please consult our public filings with the SEC or on our website at www.clarivate.com.
About Clarivate
Clarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com.
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Artificial Intelligence
SOPHiA GENETICS Launches Global Consortium, SOPHiA UNITY, to Accelerate Cancer Research, Drug Development, and Data-Driven Patient Care
New collective intelligence network to enable the most advanced research in oncology in support of precision medicine
BOSTON and ROLLE, Switzerland, May 30, 2024 /PRNewswire/ — SOPHiA GENETICS (Nasdaq: SOPH), a cloud-native healthcare technology company and a global leader in data-driven medicine, today announced SOPHiA UNITY, a new data-driven consortium designed to accelerate cancer research globally. SOPHiA UNITY aims to bring together leading healthcare institutions to progress a shared goal of furthering cancer research, advancing drug development and supporting data-driven patient care.
To advance the adoption of precision oncology, it is crucial to have access to large-scale data from a wide range of modalities (such as imaging, genomics, pathology and clinical notes), and diverse set of patient profiles. Currently, no single institution globally collects the necessary volume and diversity of information to propel the healthcare field forward. SOPHiA GENETICS has launched SOPHiA UNITY to answer that need and meet the demand for high-quality, diverse data at scale, aiming to drive a new era of precision oncology research.
The collective intelligence network will advance research initiatives using SOPHiA CarePath™, the multimodal module on the SOPHiA DDM™ Platform, to aggregate and analyze complex real-world data. This data will be harmonized and curated using SOPHiA GENETICS’ advanced AI-based technology and proprietary algorithms. Through SOPHiA GENETICS’ unique platform and CarePath™ offering, SOPHiA UNITY members will have access to meaningful, data-driven insights that will support decision-making and expedite oncology research.
“At SOPHiA GENETICS, we have mastered the challenge of harmonizing and connecting genomic data and have the capabilities to do the same with other modalities through our CarePath™ module,” said Jurgi Camblong, PhD., Co-founder and CEO of SOPHiA GENETICS. “SOPHiA UNITY will usher in the next era of precision medicine innovation by bringing together best-in-class institutions that are committed to the advancement of oncology research and the use of data-driven medicine. We are extremely optimistic about the insights this collective intelligence network will generate to further our shared goal.”
SOPHiA GENETICS announced that the first member to join SOPHiA UNITY is Memorial Sloan Kettering Cancer Center, a top cancer treatment and research institution and world leader in patient care, research, and educational programs. Additional members will be announced in the coming months.
“I am looking forward to participating in the new data-driven consortium and partnering with other institutions to draw deeper insights from our collective data,” said Mrinal Gounder, M.D., Sarcoma Oncologist & Early Drug Development Specialist and Physician Ambassador to India and Asia, Memorial Sloan Kettering Cancer Center.
Leading academic cancer centers who are looking to connect with like-minded researchers globally are eligible to join the SOPHiA UNITY collective intelligence network and gather insights that can be implemented locally. For more information, visit SOPHiAGENETICS.COM, or connect on LinkedIn.
About SOPHiA GENETICSSOPHiA GENETICS (Nasdaq: SOPH) is a cloud-native healthcare technology company on a mission to expand access to data-driven medicine by using AI to deliver world-class care to patients with cancer and rare disorders across the globe. It is the creator of the SOPHiA DDM™ Platform, which analyzes complex genomic and multimodal data and generates real-time, actionable insights for a broad global network of hospital, laboratory, and biopharma institutions. For more information, visit SOPHiAGENETICS.COM and connect with us on LinkedIn.
SOPHiA GENETICS products are for Research Use Only and not for use in diagnostic procedures unless specified otherwise. The information in this press release is about products that may or may not be available in different countries and, if applicable, may or may not have received approval or market clearance by a governmental regulatory body for different indications for use. Please contact [email protected] to obtain the appropriate product information for your country of residence.
SOPHiA GENETICS Forward-Looking Statements: This press release contains statements that constitute forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, business strategy, products, and technology, as well as plans and objectives of management for future operations, are forward-looking statements. Forward-looking statements are based on our management’s beliefs and assumptions and on information currently available to our management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including those described in our filings with the U.S. Securities and Exchange Commission. No assurance can be given that such future results will be achieved. Such forward-looking statements contained in this press release speak only as of the date hereof. We expressly disclaim any obligation or undertaking to update these forward-looking statements contained in this press release to reflect any change in our expectations or any change in events, conditions, or circumstances on which such statements are based, unless required to do so by applicable law. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.
Memorial Sloan Kettering (MSK) has institutional financial interests related to SOPHiA GENETICS.
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Artificial Intelligence
Global Energy Prize 2024 shortlist announced
MONTEVIDEO, Uruguay, May 30, 2024 /PRNewswire/ — The shortlist of the Global Energy Prize 2024 includes 15 scientists from twelve countries and territories: Belarus, China, Hong Kong (China), Japan, the Republic of Cyprus, Russia, Saudi Arabia, Singapore, Switzerland, the United Kingdom and the United States.
“The wide geography of shortlisted applications underlines the international status of the Prize, which is a recognized benchmark for research and development in the field of energy. Due to the wide variety and depth of topics presented, the International Committee will have the opportunity to select the best of the best,” said Rae Kwon Chung, Nobel laureate, Chairman of the International Committee of the Global Energy Prize.
The laureates of the Global Energy Prize 2024 will be chosen during a closed meeting of the International Award Committee to be held in July.
The shortlist of the Global Energy Prize 2024 includes:
Conventional Energy
1. Zi-Qiang Zhu, UKHead of the Electrical Machines and Drives Research Group, University of Sheffield
2. Fei Duan, SingaporeAssociate Professor, School of Mechanical and Aerospace Engineering, Nanyang Technological University
3. Leonard Vasiliev, BelarusHead of the Porous Media Laboratory, A.V. Lykov Heat&Mass Transfer Institute of the National Academy of Sciences of Belarus
4. Abdulaziz Al-Qasim, Saudi ArabiaHead of Upstream Hydrogen Technology and Sustainability, Saudi Aramco
5. Alexander Mikhalevich, BelarusDirector, Institute of Energy Problems of the National Academy of Sciences of Belarus
Non-Conventional Energy
1. Héctor D. Abruña, USAEmile Chamot Professor of Chemistry, Cornell University
2. Issa Batarseh, USAPegasus Professor, Director of the Florida Power Electronics Center, University of Central Florida
3. Soteris Kalogirou, Republic of CyprusProfessor, Cyprus University of Technology
4. Jinyue Jerry Yan, Hong Kong (China)Chair Professor of Energy and Buildings, Hong Kong Polytechnic University
5. Hongxing Yang, Hong Kong (China)Professor, Hong Kong Polytechnic University
New Ways of Energy Application
1. Amit Goyal, USAFounding Director, RENEW Institute, State University of New York at Buffalo
2. Mohammad Nazeeruddin, SwitzerlandProfessor Emeritus, Swiss Federal Institute of Technology Lausanne
3. Minggao Ouyang, ChinaProfessor, Tsinghua University
4. Garri Popov, RussiaProfessor, Director, Research Institute of Applied Mechanics and Electrodynamics, Moscow Aviation Institute
5. Kouki Matsuse, JapanEmeritus Professor, Meiji University
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