Core Human Resource Software Market Dynamics, SWOT Analysis and Forecast to 2030
The global core human resource software market, revenue stood at US$ 6,671.37 Million in the year 2018 and is expected to grow at a CAGR of 8.82% during the forecast period of 2019 - 2027.The primary market participants in the global core human resource software market include ADP,LLC, Ceridian HCM, Inc., Global Groupware Solutions Limited (Employwise), IBM Corporation, Oracle Corporation, Paychex, Inc. , Paycom Software, Inc. , SAP SE, SumTotal Systems, LLC, Ultimate Software Group, Inc. , Workday, Inc. amongst others.
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Core human resource software is designed to administer essential human resource information. The software provides fully integrated payroll, personnel management, onboarding, talent management, and recruitment solutions to the organizations of all sizes to manage employees effectively and boost the productivity. Growing need among enterprises to improve employee experience and enhance operational efficiency is profusely influencing the market growth.
Streamlining of an organization’s human capital management ecosystem and aligning the same with its overall capabilities has emerged as one of the most critical requirement among the organizations. Integration of machine learning, artificial intelligence (AI) and HR chatbot solutions along with core human resource software solutions provides an essential opportunity for the core human resource software market vendors. Lack of acceptance regarding the potentials of core human resource software solutions is curbing the business growth.
Growing adoption of core HR resource software and services among small and medium size entities is expected to offer huge growth prospects for the core human resource software market in forthcoming years. Although large enterprises would retain the dominance in terms of market revenue, small and medium-sized enterprises (SMEs) are expected to grow at the highest CAGR over the forecast period. SMEs are in continuous need for user-friendly and personalized training solutions for their employees, so as to expedite their on-boarding process. Moreover, these entities are also undertaking significant investments towards digital transformation and thus generating increased demand in core human resource software market.
Global Core Human Resource Software Market
- By Component
- Software
- Benefits and Claims
- Payroll and Compensation Management
- Personnel Management
- Learning Management
- Pension Management
- Compliance Management
- Succession Planning
- Others
- Services
- Integration Services
- Maintenance and Support
- Consulting
- By Deployment
- On-Premises
- Cloud
- By Organization Size
- Small and Medium-Sized Enterprises(SMEs)
- Large Enterprise
- By Vertical
- Government
- Manufacturing
- Energy and Utilities
- Consumer Goods and Retail
- Healthcare
- Transportation and Logistics
- Telecom and Information Technology
- Banking, Financial Services and Insurance (BFSI)
- Others
- By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Core Human Resource Software Market research added by Absolute Markets Insights, offers a comprehensive analysis of the growth trends prevailing in the global business arena. This report also provides definitive data regarding the market, size, marketing aspects, and revenue forecast of the industry. In addition, the study explicitly highlights the competitive status of major players in the projection schedule while focusing on their portfolio and regional expansion efforts.
The Global Core Human Resource Software Market Analysis to 2030 is a specialized and in-depth study of the Technology, Media, and Telecommunications industry, with an emphasis especially on the analysis of global market trends. The report aims to provide an overview of the enterprise content delivery networks and enterprise streaming software market with detailed market segmentation by component, type of deployment, industry vertical, and geography. The global market for enterprise content delivery networks and enterprise streaming software is expected to witness high growth during the forecast period.
Financial performance:
The overall turnover of the companies / segments for the years 2021, 2020 and 2019 is provided in the sub-heading “Financial performance” (listed companies) with the analysis and explanation of the increase or decrease. decrease in these due to factors such as mergers and acquisitions, profit or loss of any strategic business unit (SBU) and others.
Strategic initiatives:
Information relating to new product launches, strategic collaboration, mergers and acquisitions, regulatory approval and other company developments in the market is covered in the strategic initiatives section.
Core Human Resource Software Market: Regional analysis includes:
- Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia and Australia)
- Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
- North America (United States, Mexico and Canada.)
- South America (Brazil etc.)
- The Middle East and Africa (GCC countries and Egypt.)
This research provides detailed information on the major factors influencing the Core Human Resource Software market growth on a global and regional level (drivers, restraints, opportunities and challenges), forecast of market size, in terms of value, market share by region and segment; regional market positions; growth opportunities by segment and by country, strengths and weaknesses, brand portfolio; Marketing and distribution strategies; challenges and threats of current competition and prospects; Key Company Profiles, SWOTs and Growth Strategies.
The Core Human Resource Software market research covers a comprehensive analysis of the following data:
• Historical and future growth of the Global Core Human Resource Software market.
• Segmentation of enterprise content delivery network and enterprise streaming software market to highlight the growth prospects and trends impacting these segments.
• Change the consumption behavior of customers in different regions.
• Regional analysis on the basis of market share, growth prospects and key countries.
• Agreements, product launches, acquisitions and R&D projects of various players in the enterprise content delivery networks and enterprise streaming software market.
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