Core HR Software Market Perceives A Fabulous Growth Prospects; Unleashed Market Insights Till 2023

Core HR software is used by corporate organizations to manage employee information which can be accessed easily via a centralized HR database. Market Research Future (MRFR) has published and released a research report about the global core HR software market that anticipates progress for this market with 9% CAGR (Compound Annual Growth Rate) during the forecast period between 2017 and 2023. In terms of cash, the market has been anticipated to rise to US $ 11 bn by the end of forecast period.

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Observing the market structure, this report assays the future growth potential of the market. It observes the strategies of the key players in the market and follows the competitive developments like joint ventures, new product developments, mergers and acquisitions, research and the developments (R & D) in the market. The most important factor leading to the growth of the core HR software market is rapid growth in the cloud and mobile deployment.

Other important factors aiding growth include increasing automation in the field of HR and rising demand for the automated HR processes by small and medium enterprises who have a tight budget.

The global core HR software market has been segmented on the basis of the component, deployment, vertical, and lastly region. The components have been further segmented into software and services. Softwares have been sub-segmented into benefits & claim management, compliance management, learning management, payroll & compensation management, pension management, personnel management, and others. Services have been further segmented into consulting services, integration services, and maintenance & support. Deployment based-segmentation of this market covers cloud deployment and on-premise deployment.

Cloud deployment is defined as a specific type of cloud environment being distinguished primarily on the basis of ownership, size, and access. Cloud softwares are on the cloud, accessed via a browser. On-Premise deployment is a scenario where the softwares are installed locally in the computers kept in the premise of office. On the basis of vertical, the market has been segmented into Banking, Financial Services and Insurance (BFSI), government, healthcare, Information Technology (IT) & telecommunication, retail, and others.

Key Players

The key players in the global core HR software market include Automatic Data Processing (USA), Ceridian HCM, Inc. (the USA), CoreHR (Ireland), Employwise (India), IBM Corporation (USA), Oracle Corporation (USA), Paychex, Inc. (the USA), Paycom Software, Inc. (the USA), Sap SE (Germany), and Workday, Inc. (USA).

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Latest Industry News

HR software startup Factorial, based in Barcelona, has received a EUR2.8 mn funding from Creandum, Point Nine Capital, and K Fund. The company is planning to use the capital injection to expand from Spain to other European markets. 2 OCT 2018
Arcoro, human capital management ("HCM") solutions provider for high consequence industries, has acquired InfinityHR, an innovative leader in Human Capital Management. 1 OCT 2018

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This release was published on openPR.