The Latin America, Middle East and Africa Contingent Workforce Management Market would witness market growth of 12.9% CAGR during the forecast period (2022-2028).
Contingent workforce management includes creating and executing rules and regulations, providing tools and system access, assigning workers, enrolling contingent workers in any compliance or development training that their role would require, and managing the temporary workforce. Regular employees also gain from this since the flexible structure of the contingent workforce shields them from these types of changes, so they don't have to be paid off when the company demands change. Companies that use contingent labor can quickly fill open positions. These factors would accelerate the expansion of the contingent workforce management market.
Many businesses need to track the performance information of their contract employees, and those that do frequently collect the information outside their standard HR system and personnel database. This implies that they are losing data on many of their employees. Although full-time employees with a permanent contract are often more critical, this is only sometimes the case. For instance, a business recently acquired a sizable new client. They require a project team and manager with certain abilities and competence for their first project. They decide on a contingent project manager since hiring one or more full-time workers takes too long. The contingent worker not only finishes the job effectively but also passes down some of the skills lacking in the workforce to the present staff.
The UAE boasts a robust healthcare infrastructure as one of the Middle East's most economically advanced and diverse marketplaces. Building a world-class healthcare infrastructure is a key goal for the UAE government. Consequently, the industry has grown tremendously over the past few years. The UAE was recognized as one of the top international countries and the highest in the Arab world. The UAE's healthcare industry has grown to accommodate its population's changing requirements and its aspiration to establish itself as a regional center for medical tourism. The growing healthcare and pharmaceutical industry is expected to create more job opportunities, which will increase the utilization of contingent workforce management and drive market growth.
The Brazil market dominated the LAMEA Contingent Workforce Management Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $6,276.3 Billion by 2028. The Argentina market is experiencing a CAGR of 13.5% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 12.6% during (2022 - 2028).
Based on Type, the market is segmented into Flexible Staffing and Permanent Staffing. Based on Industry, the market is segmented into Healthcare, Retail Trade, Manufacturing & Automotive, BFSI, Government & Public Sector, Telecom & IT, Business/Professional Service, Pharma/biotech/medical equipment, Real Estate & Rental Leasing, Transportation & Logistics and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Contingent Workforce Management Market is Predict to reach $325.7 Billion by 2028, at a CAGR of 10.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include SAP SE, Coupa Software, Inc., Ramco Systems Limited, Avature Limited, Beeline (New Mount Capital), The Bowen Group, CXC Global, Zeel Solutions Ltd., and Magnit (EQT AB).
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