Market Highlights:
The human resource management is a fundamental system of every industry. Activities such as recruitment, workforce management, and administration under the human resource management require extensive paper-work. This increase the chance of human error. Human resource management software centralizes all human resource related activities. As an advantage of the same, the digitalization eliminates manual error and increases human resource management efficiency. Thus, contributing to the expected growth of the human resource management software market.
The benefits like analyzing the company’s operational trends, tracking every employee’s activity remotely and automation of manual HR activities concentrated HR database of the human resource management software are augmenting the human resource management software growth.
The centralized HR database of human resource management software offers benefits like analyzing the company’s operational trends, tracking every employee’s activity remotely and automation of manual HR activities. Thus, augmenting human resource management software growth.
The HR department can give equal attention to all the responsibilities within the organization with the cloud-based human resource management software. Integration of human resource management software on cloud-based services exposes the organization to customizable options. Opting specific solutions thereby reduces the costing. The cloud-based services reduce hardware use and lowers the maintenance cost.
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Major Key players
- Workday, Inc. (U.S.),
- SAP SE (Germany),
- Kronos, Inc. (U.S.),
- Oracle Corporation (U.S.),
- Automatic Data Processing, LCC (U.S.),
- Talentsoft (France),
- Ultimate Software Group, Inc. (U.S.),
- Accenture PLC (Ireland),
- Cezanne HR Ltd. (U.K.),
- IBM Corporation (U.S.).
Other players in the market include Ultimate Software (U.S.), PricewaterhouseCoopers (India), NetSuite, Inc. (U.S.), Mercer LLC (U.S.), Ceridian HCM, Inc. (U.S.).
According to MRFR, The Human Resource Management Software Market is expected to reach an approximate market value of USD 11 billion by 2023 growing at a 14% CAGR during the forecast period 2018–2023.
Industry Update
April 2019, JustLogin which is believed to bring in a revolution in the HR solution backed Gold for best human resource management software in Singapore.
Unit4 is a professional software development service company spread across 26 countries. Unit4 Asia Pacific, won Gold for best human resource management system development in Malaysia.
Segmentation:
The segmental analysis of human resource management software market is based on deployment, organization size, solution, service and vertical.
By deployment, the human resource management software market is segmented into on-premise and on-cloud deployment.
By organization size, the human resource management software market is segmented into small and medium enterprises and large enterprises
By solution, the human resource management software market is segmented into workforce management, sourcing and recruitment, applicant tracking system, talent management, and others.
By service, human resource management software market is segmented into integration & deployment, support & maintenance, training & consulting.
By vertical, the market is segmented into BFSI, IT & Telecom, public sector, manufacturing, retail, healthcare, transportation & logistics, and others
By region, the human resource management software market is segmented North America and Asia Pacific and rest of the world (ROW)
Regional Analysis:
North America to lead in the human resource management software market in an analyzed time span of 2017-2023. The early adoption of cloud-based services and rational investments in research and development of more efficient technologies are contributing to the human resource management software market dominance in North America.
Rapid industrialization and digitization initiatives are taken by governments around the world is anticipated to boost a significant growth in human resource management software market in the Asia Pacific. Growing adoption of cloud-based services in the emerging economies like India, China, and South Korea are fueling the human resource management software market at a healthy CAGR in the upcoming years.
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Intended Audience
- HR representatives
- Cloud Service Providers
- Organizations, Firms, Enterprises
- Government Bodies and Departments
- Management Universities
- HR management Solution Providers
- HR management Platform Providers
- Professional Service Providers
- Recruiting Firms
- Chanel Partners
- Third-Party providers
- Market Research and Consulting Firm
LIST OF TABLES
Table1 Global Human Resource Management Software Market: By Country, 2018–2023
Table2 North America Human Resource Management Software Market: By Country, 2018–2023
Table3 Europe Human Resource Management Software Market: By Country, 2018–2023
Table4 Asia Pacific Human Resource Management Software Market: By Country, 2018–2023
Table5 North America Human Resource Management Software Market, By Country
Continued……
LIST OF FIGURES
FIGURE 1 Global Human Resource Management Software market segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis of Human Resource Management Software Market
FIGURE 4 Value Chain of Human Resource Management Software Market
Continued……
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