Human Resources Management (HRM) Software Market Research Report – Forecast to 2023

Human Resources Management Software Market Research Report, Vertical (BFSI, Healthcare), Organization Size (Large Enterprises, Small and Medium Enterprises), Service (Integration and Deployment), Deployment (On-Cloud, On-Premise) — Global Forecast till 2023

ID: MRFR/ICT/4751-HCR | February 2021 | Region: Global | 100 pages

Market synopsis


Human Resource (HR) management software is one of the most fundamental systems for any organization may it be large, and small or medium business (SMB’s) organizations. The software puts together all the HR activities such as recruitment, workforce management, and administration at a centralized location.


Every organization requires immense paper usage for employee management and HR compliance that are often difficult to manage. The HR management software overcomes this difficulty by converting all the manual paper documents to a digital format. Another advantage associated with this software is a centrally available database of HR workflow through which a manager can monitor, evaluate, and reward respective employees, even remotely. The software increases the efficiency and minimizes the error rate by automating manual HR activities and helps them in analyzing the operational trends within the organization.


With the increasing demand for cloud-based services, organizations can obtain flexible usage of human resource management software. This can help the organization in giving equal focus to all the responsibilities within the organization. The use of cloud-based services result in less hardware usage, which in turn, results in minimum maintenance. Integration of HR management software with cloud services brings in various customization options. Organizations can opt for specific solutions required by them instead of selecting all the services provided by the cloud service provider. Adding to this, scalability options are also a major provision offered by this software, in which, the organization can buy the amount of storage required currently and anytime in future according to the needs, can add or delete the storage options. Cost-benefit is an added advantage of cloud-based services due to shared infrastructure, where the resources are pooled according to the need of the applications. A major restraint that lies with HR management software is security. Extra safety measures should be taken for data security and access to sensitive information. With the cloud-based usage, major challenge lies in selecting the right software for the organization according to the requirement. The software can be expensive for SMB’s as the automation has to be rolled throughout the organization and not only a specific part of the organization.


Key players


The prominent players in the market of human resource (HR) management are, 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.).


Segmentation


The market for human resource management software has been broadly segmented into deployment, organization size, solution, service and vertical.


By deployment, the market is segmented into on-premise and on-cloud deployment.


By organization size, the market is segmented into small and medium enterprises and large enterprises


By solution, the market is segmented into workforce management, sourcing and recruitment, applicant tracking system, talent management, and others.


By service, the 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.


Regional analysis


The human resource (HR) management software is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of human resource (HR) management software market is studied for North America, Europe, Asia Pacific, and the rest of the world.


North America is expected to dominate human resource (HR) management software market during the forecast period owing to early adoption of technologies such as automation, cloud-based services, and well-established economies. North America has always been leading in innovations and technological advancements, which can be attributable to high investments in research and developments in the field of cloud technology. 


Asia Pacific is expected to grow at a significant pace during the forecast period, fuelled by emerging economies like India, China, and South Korea. Due to increasing government initiatives for supporting digitalization and growing adoption of cloud-based services in these countries, the market of human resource (HR) management software in Asia Pacific is expected to grow with the highest CAGR.


Human Resource Management Software Market, USD Billions
Human Resource Management Software Market


Source: MRFR Analysis


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.


 


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 Firms



Frequently Asked Questions (FAQ) :


Oracle Corporation (U.S.), Cezanne HR Ltd. (U.K.),Automatic Data Processing, LCC (U.S.), ), Ultimate Software Group, Inc. (U.S.), Talentsoft (France), Accenture PLC (Ireland) are the noteworthy contenders in the market.

The manufacturing, public sector, retail, transportation, and healthcare are the notable end-user segments of the market.

USD 11 billion in revenue grossing is expected from the global market in the forecast period.

The rest of the world regions, along with Europe, the Asia Pacific, and North America, are covered in the global market.

A 14% CAGR is estimated to be seen in the market during the upcoming period.

TABLE OF CONTENTS

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape

4.1 Porter’s Five Forces Analysis

4.1.1 Threat of New Entrants

4.1.2 Bargaining power of buyers

4.1.3 Threat of substitutes

4.1.4 Rivalry

4.1.5 Bargaining Power of Suppliers

4.2 Value Chain/Supply Chain of Human Resource Management Software Market

5 Market Overview of Human Resource Management Software

5.1 Introduction

5.2 Growth Drivers

5.3 Impact Analysis

5.4 Market Challenges

6 Market Trends

6.1 Introduction

6.2 Growth Trends

6.3 Impact analysis

7. Human Resource Management Software by Deployment

7.1 Introduction

7.2 On-Premise

7.2.1 Market Estimates & Forecast, 2018–2023

7.2.2 Market Estimates & Forecast by Region, 2018–2023

7.3 On-Cloud

7.3.1 Market Estimates & Forecast, 2018–2023

7.3.2 Market Estimates & Forecast by Region, 2018–2023

8. Human Resource Management Software Market by Organization Size

8.1 Introduction

8.2 Small and Medium Enterprises

8.2.1 Market Estimates & Forecast, 2018–2023

8.2.2 Market Estimates & Forecast by Region, 2018–2023

8.3 Large Enterprises

8.3.1 Market Estimates & Forecast, 2018–2023

8.3.2 Market Estimates & Forecast by Region, 2018–2023

9. Human Resource Management Software Market by Solution

9.1 Introduction

9.2 Work Force Management

9.2.1 Market Estimates & Forecast, 2018–2023

9.2.2 Market Estimates & Forecast by Region, 2018–2023

9.3 Sourcing and Recruitment

9.3.1 Market Estimates & Forecast, 2018–2023

9.3.2 Market Estimates & Forecast by Region, 2018–2023

9.4 Applicant Tracking System

9.4.1 Market Estimates & Forecast, 2018–2023

9.4.2 Market Estimates & Forecast by Region, 2018–2023

9.5 Talent Management

9.5.1 Market Estimates & Forecast, 2018–2023

9.5.2 Market Estimates & Forecast by Region, 2018–2023

9.6 Others

9.6.1 Market Estimates & Forecast, 2018–2023

9.6.2 Market Estimates & Forecast by Region, 2018–2023

10. Human Resource Management Software Market by Service

10.1 Introduction

10.2 Integration and Deployment

10.2.1 Market Estimates & Forecast, 2018–2023

10.2.2 Market Estimates & Forecast by Region, 2018–2023

10.3 Support and Maintenance

10.3.1 Market Estimates & Forecast, 2018–2023

10.3.2 Market Estimates & Forecast by Region, 2018–2023

10.4 Training and Consulting

10.4.1 Market Estimates & Forecast, 2018–2023

10.4.2 Market Estimates & Forecast by Region, 2018–2023
11. Human Resource Management Software Market by Verticals

11.1 Introduction

11.2 BFSI

11.2.1 Market Estimates & Forecast, 2018–2023

11.2.2 Market Estimates & Forecast by Region, 2018–2023

11.3 Telecom and IT

11.3.1 Market Estimates & Forecast, 2018–2023

11.3.2 Market Estimates & Forecast by Region, 2018–2023

11.4 Public Sector

11.4.1 Market Estimates & Forecast, 2018–2023

11.4.2 Market Estimates & Forecast by Region, 2018–2023

11.5 Manufacturing

11.5.1 Market Estimates & Forecast, 2018–2023

11.5.2 Market Estimates & Forecast by Region, 2018–2023

11.6 Retail

11.6.1 Market Estimates & Forecast, 2018–2023

11.6.2 Market Estimates & Forecast by Region, 2018–2023

11.7 Healthcare

11.7.1 Market Estimates & Forecast, 2018–2023

11.7.2 Market Estimates & Forecast by Region, 2018–2023

11.8 Transportation and Logistics

11.8.1 Market Estimates & Forecast, 2018–2023

11.8.2 Market Estimates & Forecast by Region, 2018–2023

11.9 Others

11.9.1 Market Estimates & Forecast, 2018–2023

11.9.2 Market Estimates & Forecast by Region, 2018–2023
12. Human Resource Management Software Market by Region

12.1 Introduction

12.2 North America

12.2.1 Market Estimates & Forecast, by Country, 2018–2023

12.2.2 Market Estimates & Forecast by Deployment, 2018–2023

12.2.3 Market Estimates & Forecast by Organization Size, 2018–2023

12.2.4 Market Estimates & Forecast by Solution, 2018–2023

12.2.5 Market Estimates & Forecast by Service, 2018–2023

12.2.6 Market Estimates & Forecast by Vertical, 2018–2023

12.2.7 U.S.

12.2.7.1 Market Estimates & Forecast by Deployment, 2018–2023

12.2.7.2 Market Estimates & Forecast by Organization Size, 2018–2023

12.2.7.3 Market Estimates & Forecast by Solution, 2018–2023

12.2.7.4 Market Estimates & Forecast by Service, 2018–2023

12.2.7.5 Market Estimates & Forecast by Vertical, 2018–2023

12.2.8 Mexico

12.2.8.1 Market Estimates & Forecast by Deployment, 2018–2023

12.2.8.2 Market Estimates & Forecast by Organization Size, 2018–2023

12.2.8.3 Market Estimates & Forecast by Solution, 2018–2023

12.2.8.4 Market Estimates & Forecast by Service, 2018–2023

12.2.8.5 Market Estimates & Forecast by Vertical, 2018–2023

12.2.9 Canada

12.2.9.1 Market Estimates & Forecast by Deployment, 2018–2023

12.2.9.2 Market Estimates & Forecast by Organization Size, 2018–2023

12.2.9.3 Market Estimates & Forecast by Solution, 2018–2023

12.2.9.4 Market Estimates & Forecast by Service, 2018–2023

12.2.9.5 Market Estimates & Forecast by Vertical, 2018–2023

12.3 Europe

12.3.1 Market Estimates & Forecast, by Country 2018–2023

12.3.2 Market Estimates & Forecast by Deployment, 2018–2023

12.3.3 Market Estimates & Forecast by Organization Size, 2018–2023

12.3.4 Market Estimates & Forecast by Solution, 2018–2023

12.3.5 Market Estimates & Forecast by Service, 2018–2023

12.3.6 Market Estimates & Forecast by Vertical, 2018–2023

12.3.7 Germany

12.3.7.1 Market Estimates & Forecast by Deployment, 2018–2023

12.3.7.2 Market Estimates & Forecast by Organization Size, 2018–2023

12.3.7.3 Market Estimates & Forecast by Solution, 2018–2023

12.3.7.4 Market Estimates & Forecast by Service, 2018–2023

12.3.7.5 Market Estimates & Forecast by Vertical, 2018–2023

12.3.8 France

12.3.8.1 Market Estimates & Forecast by Deployment, 2018–2023

12.3.8.2 Market Estimates & Forecast by Organization Size, 2018–2023

12.3.8.3 Market Estimates & Forecast by Solution, 2018–2023

12.3.8.4 Market Estimates & Forecast by Service, 2018–2023

12.3.8.5 Market Estimates & Forecast by Vertical, 2018–2023

12.3.9 U.K

12.3.9.1 Market Estimates & Forecast by Deployment, 2018–2023

12.3.9.2 Market Estimates & Forecast by Organization Size, 2018–2023

12.3.9.3 Market Estimates & Forecast by Solution, 2018–2023

12.3.9.4 Market Estimates & Forecast by Service, 2018–2023

12.3.9.5 Market Estimates & Forecast by Vertical, 2018–2023

12.3.10 Rest of Europe

12.3.10.1 Market Estimates & Forecast by Deployment, 2018–2023

12.3.10.2 Market Estimates & Forecast by Organization Size, 2018–2023

12.3.10.3 Market Estimates & Forecast by Solution, 2018–2023

12.3.10.4 Market Estimates & Forecast by Service, 2018–2023

12.3.10.5 Market Estimates & Forecast by Vertical, 2018–2023

12.4 Asia Pacific

12.4.1 Market Estimates & Forecast, by Country, 2018–2023

12.4.2 Market Estimates & Forecast by Deployment, 2018–2023

12.4.3 Market Estimates & Forecast by Organization Size, 2018–2023

12.4.4 Market Estimates & Forecast by Solution, 2018–2023

12.4.4 Market Estimates & Forecast by Service, 2018–2023

12.4.5 Market Estimates & Forecast by Vertical, 2018–2023

12.4.6 China

12.4.6.1 Market Estimates & Forecast by Deployment, 2018–2023

12.4.6.2 Market Estimates & Forecast by Organization Size, 2018–2023

12.4.6.3 Market Estimates & Forecast by Solution, 2018–2023

12.4.6.4 Market Estimates & Forecast by Service, 2018–2023

12.4.6.5 Market Estimates & Forecast by Vertical, 2018–2023

12.4.7 India

12.4.7.1 Market Estimates & Forecast by Deployment, 2018–2023

12.4.7.2 Market Estimates & Forecast by Organization Size, 2018–2023

12.4.7.3 Market Estimates & Forecast by Solution, 2018–2023

12.4.7.4 Market Estimates & Forecast by Service, 2018–2023

12.4.7.5 Market Estimates & Forecast by Vertical, 2018–2023

12.4.8 Japan

12.4.8.1 Market Estimates & Forecast by Deployment, 2018–2023

12.4.8.2 Market Estimates & Forecast by Organization Size, 2018–2023

12.4.8.3 Market Estimates & Forecast by Solution, 2018–2023

12.4.8.4 Market Estimates & Forecast by Service, 2018–2023

12.4.8.5 Market Estimates & Forecast by Vertical, 2018–2023

12.4.9 Rest of Asia Pacific

12.4.9.1 Market Estimates & Forecast by Deployment, 2018–2023

12.4.9.2 Market Estimates & Forecast by Organization Size, 2018–2023

12.4.9.3 Market Estimates & Forecast by Solution, 2018–2023

12.4.9.4 Market Estimates & Forecast by Service, 2018–2023

12.4.9.5 Market Estimates & Forecast by Vertical, 2018–2023

12.5 Rest of the World

12.5.1 Market Estimates & Forecast, by Country, 2018–2023

12.5.2 Market Estimates & Forecast by Deployment, 2018–2023

12.5.3 Market Estimates & Forecast by Organization Size, 2018–2023

12.5.4 Market Estimates & Forecast by Solution, 2018–2023

12.5.5 Market Estimates & Forecast by Service, 2018–2023

12.5.6 Market Estimates & Forecast by Vertical, 2018–2023

12.5.7 The Middle East & Africa

12.5.7.1 Market Estimates & Forecast by Deployment, 2018–2023

12.5.7.2 Market Estimates & Forecast by Organization Size, 2018–2023

12.5.7.3 Market Estimates & Forecast by Solution, 2018–2023

12.5.7.4 Market Estimates & Forecast by Service, 2018–2023

12.5.7.5 Market Estimates & Forecast by Vertical, 2018–2023

12.5.8 Latin Countries

12.5.8.1 Market Estimates & Forecast by Deployment, 2018–2023

12.5.8.2 Market Estimates & Forecast by Organization Size, 2018–2023

12.5.8.3 Market Estimates & Forecast by Solution, 2018–2023

12.5.8.4 Market Estimates & Forecast by Service, 2018–2023

12.5.8.5 Market Estimates & Forecast by Vertical, 2018–2023

13. 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.)

13.3.1 Company Overview

13.3.2 Product/Business Segment Overview

13.3.3 Financial Updates

13.3.4 Key Developments

13.4 Oracle Corporation (U.S.)

13.4.1 Company Overview

13.4.2 Product/Business Segment Overview

13.4.3 Financial Updates

13.4.4 Key Developments

13.5 Automatic Data Processing, LCC (U.S.)

13.5.1 Company Overview

13.5.2 Product/Business Segment Overview

13.5.3 Financial Updates

13.5.4 Key Developments

13.6 Talentsoft (France)

13.6.1 Company Overview

13.6.2 Product/Business Segment Overview

13.6.3 Financial Updates

13.6.4 Key Developments

13.7 Ultimate Software Group, Inc. (U.S.)

13.7.1 Company Overview

13.7.2 Product/Business Segment Overview

13.7.3 Financial Updates

13.7.4 Key Developments

13.8 Accenture PLC (Ireland)

13.8.1 Company Overview

13.8.2 Product/Business Segment Overview

13.8.3 Financial Updates

13.8.4 Key Developments

13.9 Cezanne HR Ltd. (U.K.)

13.9.1 Company Overview

13.9.2 Product/Business Segment Overview

13.9.3 Financial Updates

13.9.4 Key Developments

13.10 International Business Machines Corporation (U.S.)

13.10.1 Company Overview

13.10.2 Product/Business Segment Overview

13.10.3 Financial Updates

13.10.4 Key Developments

13.11 Ultimate Software (U.S.)

13.11.1 Company Overview

13.11.2 Product/Business Segment Overview

13.11.3 Financial Updates

13.11.4 Key Developments

13.12 PricewaterhouseCoopers (India)

13.12.1 Company Overview

13.12.2 Product/Business Segment Overview

13.12.3 Financial Updates

13.12.4 Key Developments

13.13 NetSuite, Inc. (U.S.)

13.13.1 Company Overview

13.13.2 Product/Business Segment Overview

13.13.3 Financial Updates

13.13.4 Key Developments

13.14 Mercer LLC (U.S.)

13.14.1 Company Overview

13.14.2 Product/Business Segment Overview

13.14.3 Financial Updates

13.14.4 Key Developments

13.15 Ceridian HCM, Inc. (U.S.)

13.15.1 Company Overview

13.15.2 Product/Business Segment Overview

13.15.3 Financial Updates

13.15.4 Key Developments

14 Conclusion


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

Table6 North America Human Resource Management Software Market, By Deployment

Table7 North America Human Resource Management Software Market, By Organization Size

Table8 North America Human Resource Management Software Market, By Solution

Table9 North America Human Resource Management Software Market, By Service

Table10 North America Human Resource Management Software Market, By Vertical

Table11 Europe Human Resource Management Software Market, By Country

Table12 Europe Human Resource Management Software Market, By Deployment

Table13 Europe Human Resource Management Software Market, By Organization Size

Table14 Europe Human Resource Management Software Market, By Solution

Table15 Europe Human Resource Management Software Market, By Service

Table16 Europe Human Resource Management Software Market, By Vertical

Table17 Asia Pacific Human Resource Management Software Market, By Country

Table18 Asia Pacific Human Resource Management Software Market, By Deployment

Table19 Asia Pacific Human Resource Management Software Market, By Organization Size

Table20 Asia Pacific Human Resource Management Software Market, By Solution

Table21 Asia Pacific Human Resource Management Software Market, By Service

Table22 Asia Pacific Human Resource Management Software Market, By Vertical

Table23 The Middle East & Africa Human Resource Management Software Market, By Deployment

Table24 The Middle East & Africa Human Resource Management Software Market, By Organization Size

Table25 The Middle East & Africa Human Resource Management Software Market, By Solution

Table26 The Middle East & Africa Human Resource Management Software Market, By Service

Table27 The Middle East & Africa Human Resource Management Software Market, By Vertical

Table28 Latin America Human Resource Management Software Market, By Deployment

Table29 Latin America Human Resource Management Software Market, By Organization Size

Table30 Latin America Human Resource Management Software Market, By Solution

Table31 Latin America Human Resource Management Software Market, By Service

Table32 Latin America Human Resource Management Software Market, By Vertical

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

FIGURE 5 Share of Human Resource Management Software Market in 2018, by country (in %)

FIGURE 6 Global Human Resource Management Software Market, 2018–2023,

FIGURE 7 Global Human Resource Management Software Market size by Deployment, 2018

FIGURE 8 Share of Global Human Resource Management Software Market by Deployment, 2018 to 2023

FIGURE 9 Global Human Resource Management Software Market size by Organization Size, 2018

FIGURE 10 Share of Human Resource Management Software Market by Organization Size, 2018 to 2023

FIGURE 11 Global Human Resource Management Software Market size by Solution, 2018

FIGURE 12 Share of Global Human Resource Management Software Market by Solution, 2018 to 2023

FIGURE 13 Global Human Resource Management Software Market size by Service, 2018

FIGURE 14 Share of Global Human Resource Management Software Market by Service, 2018 to 2023

FIGURE 15 Global Human Resource Management Software Market Size by Vertical, 2018

FIGURE 16 Share of Global Human Resource Management Software Market Size by Vertical, 2018