SaaS-Based Human Resource (HRM) Market to Expand on the Back of Growing Demand for SaaS-based HRM Systems and Services from various End-Use Industries and Rising Awareness About the Benefits of Web-Based Services with USD 20.3 Billion By 2023

Research Nester has released its report titled “Global SaaS Based Human Resource (HRM) Market: Global Demand Analysis & Opportunity Outlook 2016-2023” thatdelivers detailed overview of the global SaaS-based human resource (HRM) market in terms of market segmentation by deployment, application, end user and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

The global SaaS-based human resource (HRM) market is anticipated to grow at a CAGR of around 10.2% over the forecast period (2016-2023), owing to increasing levels of complexities and growing addition of new business processes by organizations across the world. Moreover, strong focus laid by increasing number of market players on business diversification, product portfolio enlargement and workforce acquisition, in order to compete in the market is anticipated to drive the growth of the market over the forecast period.

The growth of the global SaaS-based human resource (HRM) market is driven by various factors such as the increase in demand for SaaS-based HRM from various end-use industries in the next few years, increasing levels of complexities in handling business processes and growing addition of new business processes by organizations across the world. SaaS-based HRM, being a flexible and cost-effective business model consumes lesser time and gets rid of any issues related to updation in HRM software. Moreover, the increase in awareness about the benefits of web-based services among the organizations, including its ability to engage in optimization of business resources and easily diversify onto various sectors is driving the growth of the market. Further, e-recruiting and learning management of workforce through web-based services is growing steadily and is increasing the demand for SaaS-based HRM systems in the market. All these factors are anticipated to drive the growth of the market over the forecast period.

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However, the growth of the global SaaS-based human resource (HRM) market is subject to certain limitations such as high costs of SaaS-based HRM services, slower adoption of SaaS-based HRM systems in medium and small enterprises and high costs of services being offered by key international players. Further, the inadequate levels of awareness on the benefits of SaaS-based HRM and web-based services in underdeveloped nations is anticipated to restrain the growth of the market over the forecast period.

The global SaaS-based human resource (HRM) market consists of three segments which are segmented by deployment, application and by end user. The end-user segment is anticipated to grow at a considerable rate over the forecast period, owing to growing demands for SaaS based HRM systems from end-user industries such as healthcare, manufacturing, education and other end user industries.

This report also provides the existing competitive scenario of some of the key players of the global SaaS-based human resource (HRM) market which includes company profiling of Oracle Corporation (NYSE: ORCL), SAP SE, Ascentis, Halogen Software, Inc. (HGN), Ultimate Software Group, Inc., Workday, Inc. (NASDAQ: WDAY), Ceridian HCM Holding, Inc. (CDAY) and IBM (NYSE: IBM).

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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global SaaS-based human resource (HRM) market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

About More Details: https://www.researchnester.com/reports/saas-based-human-resource-hrm-market-global-demand-growth-analysis-opportunity-outlook-2023/234

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Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.

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