openPR Logo
Press release

SAAS-Based HR Market to Reach $631 Billion by 2028 with a 13.9% CAGR Growth Driven By AI and Data Analytics

06-17-2024 07:42 PM CET | Media & Telecommunications

Press release from: The Business Research Company

SAAS Based Human Resource Market Report

SAAS Based Human Resource Market Report

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

SAAS Based Human Resource Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $631.00 billion In 2028 At A CAGR Of 13.9%:

The SAAS based human resource market size has grown rapidly in recent years. It will grow from $329.92 billion in 2023 to $374.54 billion in 2024 at a compound annual growth rate (CAGR) of 13.5%. The growth in the historic period can be attributed to the increasing adoption of cloud computing technologies, the need for streamlined HR processes, the rise in remote work, the rise in focus on employee experience, and cost reduction and operational efficiency

The SAAS based human resource market size is expected to see rapid growth in the next few years. It will grow to $631.00 billion in 2028 at a compound annual growth rate (CAGR) of 13.9%. The growth in the forecast period can be attributed to the global shift towards hybrid work, emphasis on employee well-being, the rise of AI-driven HR technologies, a rise in focus on diversity, equity, and inclusion, and enhanced cybersecurity measures. Major trends in the forecast period include adopting artificial intelligence (AI) in SAAS-based HR solutions, integration with collaboration tools, data analytics capabilities within SAAS-based HR solutions, personalization and customization, and enhanced security and compliance.

Request A Sample Of This Report - https://www.thebusinessresearchcompany.com/sample.aspx?id=15461&type=smp

SAAS Based Human Resource Market Major Segments
The SAAS based human resource market covered in this report is segmented -

1) By Type: Cloud Based, On Premise
2) By Organization: Small And Midsize Enterprises (SMEs), Large Enterprises
3) By Application: Time And Attendance Management, Absence Management, Human Resource (HR) And Payroll, Integrated Solutions
4) By End User: Information Technology (IT) And Telecommunication, Manufacturing, Healthcare, Banking Financial Services And Insurance, Government, Logistics

Key Driver - Leveraging Remote Work Is Driving Growth In The SAAS based Human Resource Market

Increasing adoption of remote work is expected to propel the SAAS-based human resource market going forward. Remote work refers to a work arrangement where employees perform their job duties outside of a traditional office environment, typically from home or another location away from the employer's premises. The surge in remote work is due to changing attitudes towards work-life balance and the necessity for business continuity during global events such as the COVID-19 pandemic. SaaS-based HR solutions are essential for establishing and maintaining a successful remote work culture by providing the necessary tools and infrastructure to support remote employees effectively. For instance, in September 2023, according to the U.S. Bureau of Labor Statistics, a US-based federal agency that collects and disseminates data on the U.S. economy and labor market, the percentage of people who teleworked or worked at home increased from 17.9% in October 2022 to 20.0% in August 2023. Therefore, the increasing adoption of remote work is driving the growth of the SAAS based human resource market.

Customise This Report As Per Your Requirements - https://www.thebusinessresearchcompany.com/Customise?id=15461&type=smp

Prominent Trend - Revolutionizing HR Management Through SAAS-Based Innovations

Major companies operating in the SAAS-based human resource market are focusing on developing innovative technologies, such as HR Payroll Solutions, to maximize their revenues in the market. HR payroll solutions refer to software systems or services designed to streamline and automate payroll processes within human resource management. For instance, in July 2023, Premier Inc., a US-based healthcare solutions company, launched PINC AITM HR Payroll Solutions for the healthcare industry. PINC AI HR Payroll utilizes a software-as-a-service (SaaS) model and offers capabilities for payroll, employee records management, benefits administration, and employee and manager self-service. The solution is specifically tailored to address the complex payroll and HR needs of the healthcare industry, including features to manage multiple job roles per employee with varying pay rates, shift differentials, and overtime rules.

SAAS Based Human Resource Market Players
Major companies operating in the SAAS based human resource market are International Business Machines Corporation, Oracle Corporation, SAP SE, Automatic Data Processing (ADP) Inc., Workday Inc., TriNet Group Inc., Paychex Inc., Kronsos Inc., Paycom Software Inc., Ceridian HCM Inc., Paylocity, Rippling People Center Inc., Freshteam, Justworks Employment Services LLC, iCIMS Inc., cloudPay Inc., BambooHR LLC, The Ultimate Software Group Inc., Ascentis Corporation, ClearCompany Inc., Talentsoft SA, Apprenda Inc., Cezanne HR Ltd., HR Cloud, Halogen Software Inc.

View The Full Report Here - https://www.thebusinessresearchcompany.com/report/saas-based-human-resource-global-market-report

Largest And Fastest Growing Region In The Market
North America was the largest region in the SAAS-based human resource market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the SAAS based human resource market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. SAAS Based Human Resource Market Report Structure
3. SAAS Based Human Resource Market Trends And Strategies
4. SAAS Based Human Resource Market - Macro Economic Scenario
5. SAAS Based Human Resource Market Size And Growth
…..
27. SAAS Based Human Resource Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release SAAS-Based HR Market to Reach $631 Billion by 2028 with a 13.9% CAGR Growth Driven By AI and Data Analytics here

News-ID: 3541947 • Views:

More Releases from The Business Research Company

Social Sciences And Humanities Services Market Expands Rapidly with 12.1% CAGR, Forecasted to Reach $98.61B by 2028 - Driven by Methodological Advancements
Social Sciences And Humanities Services Market Expands Rapidly with 12.1% CAGR, …
The new report published by The Business Research Company, titled "Social Sciences And Humanities Services Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends. As per the report, the social sciences and humanities services market size has grown rapidly in recent years. It
Smart LED Bulbs Market to Reach $34.57B by 2028, Driven by Rapid Adoption of Wi-Fi-Enabled Technology - TBRC Report
Smart LED Bulbs Market to Reach $34.57B by 2028, Driven by Rapid Adoption of Wi- …
The new report published by The Business Research Company, titled "Smart LED Bulbs Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends. As per the report, the smart led bulbs market size has grown exponentially in recent years. It will grow from $13.8
Economic Growth Drives Sign Market Expansion to $170.1B by 2028 at 6.0% CAGR - TBRC Report
Economic Growth Drives Sign Market Expansion to $170.1B by 2028 at 6.0% CAGR - T …
The new report published by The Business Research Company, titled "Sign Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends. As per the report, the sign market size has grown strongly in recent years. It will grow from $126.28 billion in 2023 to
TBRC Report: Securities Brokerage and Stock Exchange Services Market to Reach $2807.24B by 2028 at 7.8% CAGR
TBRC Report: Securities Brokerage and Stock Exchange Services Market to Reach $2 …
The new report published by The Business Research Company, titled "Securities Brokerage And Stock Exchange Services Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends. As per the report, the securities brokerage and stock exchange services market size has grown strongly in recent

All 5 Releases


More Releases for SAAS

Global SaaS Management Platform Market Size, By Types (SaaS Subscription Managem …
The global SaaS Management Platform size is estimated to be USD 1891 million in 2020. The global SaaS Management Platform market size is expected to grow at a CAGR of 16.4% between 2020-2028. The global SaaS Management Platform Market is fueled by various factors, according to a detailed assessment explained in the report. This study shows how important in-depth analysis should be, and how it greatly affects the quality of information
Global SaaS Management Platform Market by Type (SaaS Subscription Management, Sa …
A recent market research report added to repository of Credible Markets is an in-depth analysis of Global SaaS Management Platform Market. On the basis of historic growth analysis and current scenario of Global SaaS Management Platform market place, the report intends to offer actionable insights on Global market growth projections. Authenticated data presented in report is based on findings of extensive primary and secondary research. Insights drawn from
New SaaS CyberCPR Pro version launched
The latest cloud version of the Incident Response platform is now available. Logically Secure has announced the release of the latest addition to its CyberCPR family, CyberCPR Pro. CyberCPR Pro is the SaaS version of the incident response platform and offers a new, affordable and easy way for incident responders to quickly benefit from the incident response and case management features of CyberCPR. "I am immensely proud that, after months of hard
SaaS Based HRM Market: Small and Medium-sized Enterprises Take the Lead in Europ …
Transparency Market Research (TMR) has observed that the competitive landscape in the Europe SaaS based HRM market is mildly fragmented. The leading players, The Sage Group plc, IBM Corporation and ADP, LLC, held a lion’s share of 55 in the Europe market in 2016. The unwavering dominance of these companies is attributable to the best HR information practices. The companies are constantly working on improving their product portfolio to help
NETWAYS introduces new SaaS platform NWS
Nuremberg March 6, 2017 As of March 07, 2017, the NETWAYS Web Services (NWS) will go online with nws.netways.de. A diverse range of open source solutions for various applications are offered. The preconfigured applications are immediately available to the user. Tasks such as updates and operation are managed via the software as a Service (SaaS) access. Interested users can test the open source applications free of charge for 30 days
OrchestratedBEER Introduces SaaS OnDemand
This year's Craft Brewers Conference provided the stage on which OrchestratedBEER launched its newest software offering - Software as a Service (SaaS). SaaS is the latest offering providing everything a growing craft brewery needs to run a business including: -Production -Inventory -Sales & CRM -MRP -Recipe management -Reporting -Supply