Core HR Software Market Accretes To USD 11 Bn By 2023 at 9% CAGR through 2023

Market Research Future published a research report on “Global Core HR Software Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Core HR Software Market, By Component (Software, Service), Deployment (Cloud, On-Premise), Vertical (BFSI, Healthcare, Manufacturing, Transportation, IT & Telecommunication, Retail and Government) - Forecast 2023


Intended Audience

• Technology investors
• Research/Consultancy firms
• Commercial users
• Enterprise users
• Industrial users

Market Synopsis of Core HR Software Market:

Market Scenario:

Core HR software is used to manage employee information which can be easily accessible through a centralized HR database. The HR database typically comprises of employee personal information, benefits enrolment and income tax withholding. Core HR software includes employee self-portal which allows them to edit and access their personal details and it can also be used for absence tracking of employees.

Rapid growth in the cloud and mobile deployment is one major factor leading to the growth of core HR software market. Another factor is the increasing automation in the field of HR driving the market share. This had led small and medium enterprises to automate the HR processes by rapidly adopting core HR software.

The core HR software market has been segmented on the basis of component, deployment and vertical. The vertical segment is further bifurcated in to BFSI, healthcare, transportation, manufacturing, retail and government. Core HR software is gaining major traction owing to increasing adoption by all these verticals.

The global Core HR Software market is expected to grow at approx. USD 11 Billion by 2023, at 9% of CAGR between 2017 and 2023.

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Segments:

Core HR software market can be segmented on the basis of following:

By Component

- Software
• Benefits and Claim Management
• Payroll and Compensation Management
• Personnel Management
• Learning Management
• Pension Management
• Compliance Management
• Others

- Service
• Integration Services
• Maintenance and Support
• Consulting Services

By Deployment
• Cloud
• On-Premise

By Vertical
• BFSI
• Healthcare
• IT & Telecommunication
• Retail
• Government
• Others

Regional Analysis:

The regional analysis of core HR software market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in core HR software market in North America attributes to the technical advancements and rapid growth of use of HR software in that region.

Key Players:

The prominent players in core HR software market are – Automatic Data Processing (U.S.), Ceridian HCM, Inc. (U.S.), CoreHR (Ireland), Employwise (India), IBM Corporation (U.S.), Oracle Corporation (U.S.), Paychex, Inc. (U.S.), Paycom Software, Inc. (U.S.), Sap SE (Germany), and Workday, Inc. (U.S.) among others.

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Market Research Analysis:

The global Core HR Software market, by geography, has been segmented into North America, Europe, Asia Pacific and Others. In the global core HR software market, Asia Pacific is anticipated to witness relatively faster adoption and hence the growth rate as compared with other regions. Within Asia Pacific, merchandising and in-store analytics and marketing analytics is projected to contribute the faster share growth of revenue backed by growth in e-commerce and digital marketing in countries such as Japan, China and India.

BRIEF TOC:
1. EXECUTIVE SUMMARY
2. RESEARCH METHODOLOGY
3. MARKET DYNAMICS
4. GLOBAL MARKET SEGMENTATION
5. REGIONAL MARKET ANALYSIS
6. COMPETITIVE ANALYSIS
7. CONCLUSION
8. LIST OF TABLES
9. LIST OF FIGURES

The report for Global Core HR Software Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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