The report on the global Human Resources Management Software Market covers historical market trends, current market dynamics, market valuation by segmentation as well as region, country-level analysis for every segment, key player’s market share analysis, competitive landscape and supply chain analysis.
Market Research Future (MRFR)’s new study reveals that the global human resources management (HRM) software market is poised to strike a CAGR of 14% during the forecast period 2018 to 2023. The valuation of the market is expected to reach USD 11 Bn by the end of 2023. The demand for an enhanced system for the efficient management of workforce coupled with the need for minimum paperwork is expected to drive the growth of the global market.
Deployment of HRM software offers scalability of employee performance remotely by creating a database of HR workflow. This has catalyzed the demand generation for the software across different industry verticals. It is also effective in identifying operational trends in the organization and improving efficiency. A revenue analysis of the market highlights a surge in demand for the technology, owing to its advantages, through the assessment period. It is anticipated to augment the human resources management (HRM) software market in the forthcoming years.
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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.
In October 2018, NEOGOV, a technology company with a focus on human resources software, has acquired Canada-based High Line Corp., a veteran human resource software company.
In October 2018, The Iloilo Provincial Government, Philippines, has received an enhanced Human Resources Information System (HRIS) facility from the Land Bank of the Philippines (LBP) as a donation.
In November 2018, SAP SE, a European multinational software corporation, is set to acquire Utah based startup, Qualtrics, for USD 8 Bn cash deal.
In November 2018, IBM, an American multinational information technology company, has partnered with Kronos, a developer of workforce management software. The partnership is aimed at leveraging AI for the development of human resource software.
By region, the global human resources management (HRM) software market has been segmented into North America, Asia Pacific, Europe, and the rest of the world. North America is expected to hold the pole position in the global market through the forecast period. The region is a pioneer in technological advancements and is likely to benefit from the early adoption of technologies such as automation and cloud-based services. The swift proliferation of the human resources management (HRM) software market in the region is attributable to the high investments in cloud technology.
Asia Pacific is a promising market for HRM software. The factors that are contributing towards the growth of the human resources management (HRM) software market in the region are growing adoption of cloud-based services, governments’ initiatives supporting digitization, the presence of fast-developing economies, etc.
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By deployment, the human resources management (HRM) software market has been market has been segmented into on-premise and on-cloud deployment.
By organization size, the global human resources management (HRM) software market is segmented into small & medium enterprises and large enterprises
By solution, the human resources management (HRM) software market has been segmented into workforce management, applicant tracking system, sourcing and recruitment, talent management, and others.
By service, the global human resources management (HRM) software market is segmented into integration & deployment, support & maintenance, training & consulting.
By vertical, the human resources management (HRM) software market has been segmented into BFSI, public sector, IT & Telecom, manufacturing, healthcare, retail, transportation & logistics, and others.
- 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
TABLE OF CONTENTS
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
- Company Profiles
13.1 Workday, Inc. (U.S.)
13.1.1 Company Overview
13.1.2 Product/Business Segment Overview
13.1.3 Financial Updates
13.1.4 Key Developments
13.2 SAP SE (Germany)
13.2.1 Company Overview
13.2.2 Product/Business Segment Overview
13.2.3 Financial Updates
13.2.4 Key Developments
13.3 Kronos, Inc. (U.S.)
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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