Global Core HR Software Market, By Component (Software, Services), Deployment Type (On-Premises, Cloud), Organization Size (Small and Middle Enterprises, Large Enterprises), Verticals (Government, Manufacturing, Energy and Utilities, Consumer Goods and Retail, Healthcare, Transportation and Logistics, Telecom and Information Technology (IT), Banking, Financial Services, and Insurance (BFSI)), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
The core HR software market is expected to witness market growth at a rate of 9.10% in the forecast period of 2021 to 2028. Data Bridge Market Research report on core HR software market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The increasing cloud and mobile deployment globally is escalating the growth of core HR software market.
Human resource software assists in the basic functioning of HR department by capturing the data of the employee in a centralized database. The databases collect information related to personnel birth, place, address and other personal details. The software helps in keeps the track of job title and description, tax holdings and salary, sick and vacation days and documentations of training and other information. It offers the common platform to managers and employee via portal where they can update each detail and avoid delay in data upgradation.
The rise in the adoption of digitization and increasing rate of automation of HR processes act as the major factors driving the growth of core HR software market. The growing need to automate HR department for efficient human resource management among various industry verticals and increasing usage of advance data management systems with integrated workforce management, payroll management and talent and recruitment management facilities among organizations accelerate the core HR software market growth. The increasing popularity of core HR software as a service platform and growing utilization in various industry verticals such as healthcare, transportation and logistics, government, manufacturing, energy and utilities, banking, financial services, and insurance (BFSI), media and entertainment, hospitality, education, telecom and Information Technology (IT) and consumer goods and retail further influence the core HR software market. Additionally, rise in cloud and mobile deployment, rapid digitization, expansion of end user industries, surge in investment and acceptance of advanced technologies positively affect the core HR software market. Furthermore, organizations inclination toward HR analytics and increasing use of core HR by SMEs extend profitable opportunities to the core HR software market players in the forecast period of 2021 to 2028.
On the other hand, reluctance to the adoption of core HR software and limited awareness of new technologies and capabilities in core HR software are the factors expected to obstruct the core HR software market growth. The regional difference in labor laws is projected to challenge the core HR software market in the forecast period of 2021-2028.
This core HR software market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on core HR software market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Core HR Software Market Scope and Market Size
The core HR software market is segmented on the basis of component, deployment type, organization size and verticals. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, the core HR software market is segmented into software and services. On the basis of software, the core HR software market is segmented into benefits and claims management, payroll and compensation management, personnel management, learning management, pension management, compliance management and succession planning. On the basis of service, the core HR software market is segmented into integration services, maintenance and support and consulting.
- On the basis of deployment type, the core HR software market is segmented into on-premises and cloud.
- On the basis of organization size, the core HR software market is segmented into small and middle enterprises and large enterprises.
- On the basis of verticals, the core HR software market is segmented into government, manufacturing, energy and utilities, consumer goods and retail, healthcare, transportation and logistics, telecom and information technology (IT) and banking, financial services and insurance (BFSI).
Global Core HR Software Market Country Level Analysis
The core HR software market is analyzed and market size, volume information is provided by country, component, deployment type, organization size and verticals as referenced above.
The countries covered in the global core HR software market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the core HR software market due to the increasing focus on optimizing human resource operations. Asia-Pacific is expected to witness significant growth during the forecast period of 2021 to 2028 because of the expansion of small and medium enterprise and rising interest on cloud-based business solutions in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Core HR Software Market Share Analysis
The core HR software market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to core HR software market.
The major players covered in the core HR software market report are Oracle, Paycom, SAP SE, SumTotal Systems, LLC, Ultimate Software, Workday, Inc., EmployWise, CoreHR Limited, Ceridian HCM, Inc., ADP, LLC, Peopleworks, Ramco Systems, Emportant, TrustRadius, Cezanne HR Limited, Paychex Inc., Ascentis Corporation, Kronos Incorporated, Vibe HCM, Inc, TriNet Group, Inc among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Core HR Software Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.