Core HR Software Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2024

Report Code: ZMR-3334 | Report Format : | Status : Upcoming |

Abstract

Global Core HR Software Market: Overview

Core human resource software allows the user to process information regarding any employee in the organization. It comprises personal information like employee name, birth dates, employee address, and social security numbers. Core HR software operates in constant coordination with to be implied government or organizational rules. Furthermore, it is featured with benefits like dental and vision, health, employee portal, organizational structures, self-service, and payroll. All the relevant information is gathered by the software such as a number of employees, job titles of the employees and their salaries are important for effective human resource management. It is often referred to as human resource management systems for managing back-end administrative human resource tasks and few elements that are essential to the regular business operation.

Global Core HR Software Market: Growth Factors

Increasing demand for cloud technology and mobile deployment are major factors driving the growth of the global core HR software market. Moreover, the market is driven by the increasing demand for automation in human resource process during the forecast period. However, reluctance to the adoption of human resource software is one of the major factors hindering the growth of the market during the forecast period. Rising inclination toward human resource analytics is expected to be one of the significant opportunities in the market. Furthermore, rising acceptance of core HR software in small and medium scale enterprise is another opportunity in the global market. Some of the challenges faced by the market players are lack of awareness of new technologies, capabilities in core HR software, and regional difference in labor laws.

Global Core HR Software Market: Segmentation

The global core HR software market is segmented on the basis of deployment, component, software, organization size, service, application, and region. Based on deployment, the market is segregated into cloud and on-premises. In terms of component, the market is segmented into software and services. In terms of organization size, the market is segmented into large enterprises and small and medium size enterprise. On the basis of software type, the market is further bifurcated into learning management, payroll and compensation management, compliance management, pension management, succession planning, benefits and claims management, and personnel management. Moreover, based on service the market is fragmented into maintenance and support, integrating services, and consulting services. The application segment of the market is further segmented into energy and utilities, government, manufacturing, consumer goods and retail, transportation and logistics, telecom and information technology, financial services, healthcare, banking, and insurance among others.

Global Core HR Software Market: Regional Analysis

North America holds the largest share in the regional segment of the global core HR software market due to the adoption of cloud platforms, smart-phones, and newer technologies. In North America, new entrants are successively acquiring a remarkable share in the market by offering flexible, customized, and differentiated products. The Asia Pacific is expected to the growth of the market over the forecast period due digitalization and adoption of new technologies.

Global Core HR Software Market: Competitive Players

Some of the important key players in the global core HR software market are International Business Machine (IBM) Corporation, Automatic Data Processing (ADP), Ceridian HCM, Inc., CoreHR, EmployWise, Oracle Corporation, Paycom Software, Inc., Paychex, Inc., SAP SE, Ultimate Software, SumTotal Systems, LLC, and Workday, Inc., among others.

Global Core HR Software Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • The UK
    • France
    • Germany
  • The Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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