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 2027
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
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, 2020–2027
7.2.2 Market Estimates & Forecast by Region, 2020–2027
7.3 On-Cloud
7.3.1 Market Estimates & Forecast, 2020–2027
7.3.2 Market Estimates & Forecast by Region, 2020–2027
8. Human Resource Management Software Market by Organization Size
8.1 Introduction
8.2 Small and Medium Enterprises
8.2.1 Market Estimates & Forecast, 2020–2027
8.2.2 Market Estimates & Forecast by Region, 2020–2027
8.3 Large Enterprises
8.3.1 Market Estimates & Forecast, 2020–2027
8.3.2 Market Estimates & Forecast by Region, 2020–2027
9. Human Resource Management Software Market by Solution
9.1 Introduction
9.2 Work Force Management
9.2.1 Market Estimates & Forecast, 2020–2027
9.2.2 Market Estimates & Forecast by Region, 2020–2027
9.3 Sourcing and Recruitment
9.3.1 Market Estimates & Forecast, 2020–2027
9.3.2 Market Estimates & Forecast by Region, 2020–2027
9.4 Applicant Tracking System
9.4.1 Market Estimates & Forecast, 2020–2027
9.4.2 Market Estimates & Forecast by Region, 2020–2027
9.5 Talent Management
9.5.1 Market Estimates & Forecast, 2020–2027
9.5.2 Market Estimates & Forecast by Region, 2020–2027
9.6 Others
9.6.1 Market Estimates & Forecast, 2020–2027
9.6.2 Market Estimates & Forecast by Region, 2020–2027
10. Human Resource Management Software Market by Service
10.1 Introduction
10.2 Integration and Deployment
10.2.1 Market Estimates & Forecast, 2020–2027
10.2.2 Market Estimates & Forecast by Region, 2020–2027
10.3 Support and Maintenance
10.3.1 Market Estimates & Forecast, 2020–2027
10.3.2 Market Estimates & Forecast by Region, 2020–2027
10.4 Training and Consulting
10.4.1 Market Estimates & Forecast, 2020–2027
10.4.2 Market Estimates & Forecast by Region, 2020–2027
11. Human Resource Management Software Market by Verticals
11.1 Introduction
11.2 BFSI
11.2.1 Market Estimates & Forecast, 2020–2027
11.2.2 Market Estimates & Forecast by Region, 2020–2027
11.3 Telecom and IT
11.3.1 Market Estimates & Forecast, 2020–2027
11.3.2 Market Estimates & Forecast by Region, 2020–2027
11.4 Public Sector
11.4.1 Market Estimates & Forecast, 2020–2027
11.4.2 Market Estimates & Forecast by Region, 2020–2027
11.5 Manufacturing
11.5.1 Market Estimates & Forecast, 2020–2027
11.5.2 Market Estimates & Forecast by Region, 2020–2027
11.6 Retail
11.6.1 Market Estimates & Forecast, 2020–2027
11.6.2 Market Estimates & Forecast by Region, 2020–2027
11.7 Healthcare
11.7.1 Market Estimates & Forecast, 2020–2027
11.7.2 Market Estimates & Forecast by Region, 2020–2027
11.8 Transportation and Logistics
11.8.1 Market Estimates & Forecast, 2020–2027
11.8.2 Market Estimates & Forecast by Region, 2020–2027
11.9 Others
11.9.1 Market Estimates & Forecast, 2020–2027
11.9.2 Market Estimates & Forecast by Region, 2020–2027
12. Human Resource Management Software Market by Region
12.1 Introduction
12.2 North America
12.2.1 Market Estimates & Forecast, by Country, 2020–2027
12.2.2 Market Estimates & Forecast by Deployment, 2020–2027
12.2.3 Market Estimates & Forecast by Organization Size, 2020–2027
12.2.4 Market Estimates & Forecast by Solution, 2020–2027
12.2.5 Market Estimates & Forecast by Service, 2020–2027
12.2.6 Market Estimates & Forecast by Vertical, 2020–2027
12.2.7 U.S.
12.2.7.1 Market Estimates & Forecast by Deployment, 2020–2027
12.2.7.2 Market Estimates & Forecast by Organization Size, 2020–2027
12.2.7.3 Market Estimates & Forecast by Solution, 2020–2027
12.2.7.4 Market Estimates & Forecast by Service, 2020–2027
12.2.7.5 Market Estimates & Forecast by Vertical, 2020–2027
12.2.8 Mexico
12.2.8.1 Market Estimates & Forecast by Deployment, 2020–2027
12.2.8.2 Market Estimates & Forecast by Organization Size, 2020–2027
12.2.8.3 Market Estimates & Forecast by Solution, 2020–2027
12.2.8.4 Market Estimates & Forecast by Service, 2020–2027
12.2.8.5 Market Estimates & Forecast by Vertical, 2020–2027
12.2.9 Canada
12.2.9.1 Market Estimates & Forecast by Deployment, 2020–2027
12.2.9.2 Market Estimates & Forecast by Organization Size, 2020–2027
12.2.9.3 Market Estimates & Forecast by Solution, 2020–2027
12.2.9.4 Market Estimates & Forecast by Service, 2020–2027
12.2.9.5 Market Estimates & Forecast by Vertical, 2020–2027
12.3 Europe
12.3.1 Market Estimates & Forecast, by Country 2020–2027
12.3.2 Market Estimates & Forecast by Deployment, 2020–2027
12.3.3 Market Estimates & Forecast by Organization Size, 2020–2027
12.3.4 Market Estimates & Forecast by Solution, 2020–2027
12.3.5 Market Estimates & Forecast by Service, 2020–2027
12.3.6 Market Estimates & Forecast by Vertical, 2020–2027
12.3.7 Germany
12.3.7.1 Market Estimates & Forecast by Deployment, 2020–2027
12.3.7.2 Market Estimates & Forecast by Organization Size, 2020–2027
12.3.7.3 Market Estimates & Forecast by Solution, 2020–2027
12.3.7.4 Market Estimates & Forecast by Service, 2020–2027
12.3.7.5 Market Estimates & Forecast by Vertical, 2020–2027
12.3.8 France
12.3.8.1 Market Estimates & Forecast by Deployment, 2020–2027
12.3.8.2 Market Estimates & Forecast by Organization Size, 2020–2027
12.3.8.3 Market Estimates & Forecast by Solution, 2020–2027
12.3.8.4 Market Estimates & Forecast by Service, 2020–2027
12.3.8.5 Market Estimates & Forecast by Vertical, 2020–2027
12.3.9 U.K
12.3.9.1 Market Estimates & Forecast by Deployment, 2020–2027
12.3.9.2 Market Estimates & Forecast by Organization Size, 2020–2027
12.3.9.3 Market Estimates & Forecast by Solution, 2020–2027
12.3.9.4 Market Estimates & Forecast by Service, 2020–2027
12.3.9.5 Market Estimates & Forecast by Vertical, 2020–2027
12.3.10 Rest of Europe
12.3.10.1 Market Estimates & Forecast by Deployment, 2020–2027
12.3.10.2 Market Estimates & Forecast by Organization Size, 2020–2027
12.3.10.3 Market Estimates & Forecast by Solution, 2020–2027
12.3.10.4 Market Estimates & Forecast by Service, 2020–2027
12.3.10.5 Market Estimates & Forecast by Vertical, 2020–2027
12.4 Asia Pacific
12.4.1 Market Estimates & Forecast, by Country, 2020–2027
12.4.2 Market Estimates & Forecast by Deployment, 2020–2027
12.4.3 Market Estimates & Forecast by Organization Size, 2020–2027
12.4.4 Market Estimates & Forecast by Solution, 2020–2027
12.4.4 Market Estimates & Forecast by Service, 2020–2027
12.4.5 Market Estimates & Forecast by Vertical, 2020–2027
12.4.6 China
12.4.6.1 Market Estimates & Forecast by Deployment, 2020–2027
12.4.6.2 Market Estimates & Forecast by Organization Size, 2020–2027
12.4.6.3 Market Estimates & Forecast by Solution, 2020–2027
12.4.6.4 Market Estimates & Forecast by Service, 2020–2027
12.4.6.5 Market Estimates & Forecast by Vertical, 2020–2027
12.4.7 India
12.4.7.1 Market Estimates & Forecast by Deployment, 2020–2027
12.4.7.2 Market Estimates & Forecast by Organization Size, 2020–2027
12.4.7.3 Market Estimates & Forecast by Solution, 2020–2027
12.4.7.4 Market Estimates & Forecast by Service, 2020–2027
12.4.7.5 Market Estimates & Forecast by Vertical, 2020–2027
12.4.8 Japan
12.4.8.1 Market Estimates & Forecast by Deployment, 2020–2027
12.4.8.2 Market Estimates & Forecast by Organization Size, 2020–2027
12.4.8.3 Market Estimates & Forecast by Solution, 2020–2027
12.4.8.4 Market Estimates & Forecast by Service, 2020–2027
12.4.8.5 Market Estimates & Forecast by Vertical, 2020–2027
12.4.9 Rest of Asia Pacific
12.4.9.1 Market Estimates & Forecast by Deployment, 2020–2027
12.4.9.2 Market Estimates & Forecast by Organization Size, 2020–2027
12.4.9.3 Market Estimates & Forecast by Solution, 2020–2027
12.4.9.4 Market Estimates & Forecast by Service, 2020–2027
12.4.9.5 Market Estimates & Forecast by Vertical, 2020–2027
12.5 Rest of the World
12.5.1 Market Estimates & Forecast, by Country, 2020–2027
12.5.2 Market Estimates & Forecast by Deployment, 2020–2027
12.5.3 Market Estimates & Forecast by Organization Size, 2020–2027
12.5.4 Market Estimates & Forecast by Solution, 2020–2027
12.5.5 Market Estimates & Forecast by Service, 2020–2027
12.5.6 Market Estimates & Forecast by Vertical, 2020–2027
12.5.7 The Middle East & Africa
12.5.7.1 Market Estimates & Forecast by Deployment, 2020–2027
12.5.7.2 Market Estimates & Forecast by Organization Size, 2020–2027
12.5.7.3 Market Estimates & Forecast by Solution, 2020–2027
12.5.7.4 Market Estimates & Forecast by Service, 2020–2027
12.5.7.5 Market Estimates & Forecast by Vertical, 2020–2027
12.5.8 Latin Countries
12.5.8.1 Market Estimates & Forecast by Deployment, 2020–2027
12.5.8.2 Market Estimates & Forecast by Organization Size, 2020–2027
12.5.8.3 Market Estimates & Forecast by Solution, 2020–2027
12.5.8.4 Market Estimates & Forecast by Service, 2020–2027
12.5.8.5 Market Estimates & Forecast by Vertical, 2020–2027
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, 2020–2027
Table2 North America Human Resource Management Software Market: By Country, 2020–2027
Table3 Europe Human Resource Management Software Market: By Country, 2020–2027
Table4 Asia Pacific Human Resource Management Software Market: By Country, 2020–2027
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 2020, by country (in %)
FIGURE 6 Global Human Resource Management Software Market, 2020–2027,
FIGURE 7 Global Human Resource Management Software Market size by Deployment, 2020
FIGURE 8 Share of Global Human Resource Management Software Market by Deployment, 2020 to 2027
FIGURE 9 Global Human Resource Management Software Market size by Organization Size, 2020
FIGURE 10 Share of Human Resource Management Software Market by Organization Size, 2020 to 2027
FIGURE 11 Global Human Resource Management Software Market size by Solution, 2020
FIGURE 12 Share of Global Human Resource Management Software Market by Solution, 2020 to 2027
FIGURE 13 Global Human Resource Management Software Market size by Service, 2020
FIGURE 14 Share of Global Human Resource Management Software Market by Service, 2020 to 2027
FIGURE 15 Global Human Resource Management Software Market Size by Vertical, 2020
FIGURE 16 Share of Global Human Resource Management Software Market Size by Vertical, 2020