The report presents a comprehensive overview of industry trends, growth share and the competitive landscape in 200 pages.
“Human Resource Technology Market” report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Human Resource Technology Market by region.
Global Human Resource (HR) Technology Market is valued at approximately USD 22.90 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.5% over the forecast period 2022-2029.
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Human resource (HR) technology plays a very vital role in the human resource industry by improving almost every aspect of employment within the enterprise. Human resources technologies assist in talent sourcing, onboarding, talent management, payrolls, performance, and workforce management, and so on. The increasing integration of Robot Process Automation (RPA), the rising trend of digitalization, coupled with the growing working population and complicated data management methods are some key factors that are stipulating the market demand around the world.
The rising adoption of artificial intelligence and machine learning in human resource (HR) technology software facilitates organizations to optimize their recruitment process. For instance, in June 2021, Active Payroll announced that the company entered into a partnership agreement with Cornerstone OnDemand, Inc., which aims on incorporate Cornerstone’s comprehensive suite of these resource services. Likewise, in March 2022, HeyJobs declared that the company raised USD 47 million in funding with the objective of accelerating the integration of AI technology in talent acquisition solutions and strengthening its business across Germany. Thus, these factors are fueling the market demand in the anticipated years. Furthermore, rising technological advancements, as well as the increasing number of strategic initiatives by key market players are presenting various growth prospects to the market over the forecasting years. However, rising concern for threat to data privacy and some limitations are associated with data integration stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Human Resource (HR) Technology Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the rise in employment opportunities across the U.S. and Canada and the presence of leading market players. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as growing investment in technological developments, high employment in SMEs, as well as the increasing mobility of workforces in the regional market.
Major market players included in this report are:
- SAP SE
- Oracle Corporation
- Automatic Data Processing (ADP), Inc.
- Cornerstone OnDemand, Inc.
- Ceridian HCM Holding Inc.
- Workday, Inc.
- Infor, Inc.
- Cegid Group
- Hi bob Inc.
- The Access Group
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Recent Developments in the Market:
In March 2022, The Access Group announced the acquisition of FastTrack- a cloud-based recruitment platform, which helps in staffing enterprises to modernize and develop. This FastTrack’s integrated software helps in the management of billing, payroll, and maintenance of timesheets, which supports Access Recruitment’s suite of software.
In November 2021, Oracle unveiled the introduction of its new platform for Oracle Fusion Cloud Human Capital Management (HCM) for presenting a better tailored, intuitive, and streamlined employee experience. This initiative helps the company to offer employees a one-stop-shop to navigate all areas of their jobs and complete challenging tasks.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Type:
Talent Management
Workforce Management
Recruitment
Payroll Management
Performance Management
Others
By Deployment:
Cloud
On-premise
By Enterprise Size:
SMEs
Large Enterprises
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By End-User:
BFSI
IT and Telecommunication
Government
Manufacturing
Retail
Healthcare
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
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Report Include:
- Market Behavior/ Level of Risk and Opportunity
- End Industry Behavior/ Opportunity Assessment
- Expected Industry Recovery Timeline
Key Market Features in Global Market:The report assessed key market features, including revenue, capacity, price, capacity utilization rate, production rate, gross, production, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. The study also offers a thorough analysis of the most important market factors and their most recent developments, as well as pertinent market segments and sub-segments.
In this report, the following important queries are addressed:
- What is the Global market’s sales value, production value, consumption value, import, and export (including North America, Europe, Asia-Pacific, South America, Middle East, and Africa)?
- Who are the major manufacturers in this sector on a global scale? How are their capacity, production, sales, pricing, cost, gross, and revenue operating?
- What are the vendors’ market prospects and risks in the international industry?
- Which product types, end users, or applications might be looking for additional growth prospects? What is each type’s and application’s market share?
- What specific strategies and limitations are keeping the market in check?
- What is the various marketing, sales, and distribution channels in the international market?
- What are the upstream raw materials, as well as the manufacturing machinery?
- What are the Market opportunities, market risk, and market overview of this industry?
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