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Core HR Software Market- Analysis, Size, Business Growth, Trends & Future Scenario Along with Top Key Players
Increase in adoption of digitization and growing need to automate HR department for efficient human resource management among various industry verticals are the major factors that drive the growth of the global core HR software market. Rise in adoption of advance data management systems with integrated payroll management, workforce management, talent and recruitment management functionalities among organizations has observed significant growth over the past decade. This is also expected to propel adoption of software with diverse functionality, especially core HR software as a service platform, which in turn, is expected to boost global core HR software market growth. However, high complexities associated with legacy system integration is a major factor that restricts the global market. Furthermore, rise in adoption of core HR software by SME's is an opportunistic factor of the global core HR software market.Key industry players such as - Automatic Data Processing, LLC, Ceridian HCM, Inc., Corehr, Employwise, Inc., International Business Machines Corporation, Oracle Corporation, Paychex, Inc., Paycom Software, Inc., SAP SE, and Sumtotal Systems, LLC (A Skillsoft Company).
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The core HR software market is segmented into component, type, deployment, enterprise size, industry vertical, and region. By component, it is bifurcated into software and services. In terms of type, it is classified into succession planning, pension management, learning management, personnel management, compliance management, benefits & claims management, and payroll & compensation management. By deployment, it is categorized into cloud and on-premises. On the basis of enterprise size, the core HR software market is classified into large enterprises and small & medium sized enterprises (SMEs). In terms of industry vertical, it is classified into government, manufacturing, energy & utilities, consumer goods & retail, healthcare & life sciences, transportation & logistics, telecommunications & information technology, Banking, Financial Services, & Insurance (BFSI), and Others. Region-wise, the global core market size is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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The global market is analyzed on the basis of end-user industry, application, type, and region. By region, the market is assessed across North America (Canada, Mexico, and the United States), Europe France, Italy, Germany, Spain, the United Kingdom, and rest of Europe), Asia-Pacific (Australia, Japan, South Korea, China, India, and rest of Asia-Pacific), and LAMEA (Africa, the Middle East, and Latin America).
Key drivers that are propelling the growth of the market included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.
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Latest news and industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures and collaborations, product launches, market expansions etc. are included in the report.
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Lastly, this report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.
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