North America Human Resource Management Market By Component (Software and Services), By Deployment Type (On-premise and Hosted), By Enterprise Size (Large Enterprises and Small & Medium Enterprises), By End User (IT & Telecom, BFSI, Retail, Healthcare, Manufacturing, Government & Public Sector and Others), By Country, Growth Potential, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027
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Market Report Description
The North America Human Resource Management Market would witness market growth of 10.1% CAGR during the forecast period (2021-2027).
The management of all the issues regarding the human assets of an organization is termed as human resource management. The HR department carries out various functions like recruitment, compensation, organization development, safety, wellness, performance management, benefits, communication, policy administration, employee motivation, and training.
HRM is shifting from conventional administration, personnel, and transactional roles that are rapidly being outsourced. Nowadays, it is expected that the HRM function would add value to the strategic usage of all the employees and also facilitate the employee programs that are recommended and implemented to positively impact the company.
The HRM department of any organization helps in keeping employers and companies safe from any kind of lawsuits and workplace chaos. These HR employees must do a balancing act to better serve every stakeholder of an organization including executives, customers, managers, employees, owners, and stockholders.
The high adoption rate of this region is one of the major driving factors for any new technology like HRM solutions in this region. Companies in this region are increasingly investing in the implementation of various advanced solutions. There are many nations like the US that are witnessing a surge in the demand for advanced HRM solutions for better human resource management.
The shifting focus of the organizations across this region on deploying HRM solutions for payroll management, talent management, and attendance & time tracking, among other operations, would bolster the regional growth of the human resource management market. Moreover, the presence of key HRM solution providers is anticipated to propel regional growth.
The US market dominated the North America Human Resource Management Workforce Planning & Analytics Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $938.3 million by 2027. The Canada market is experiencing a CAGR of 12.5% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 11.5% during (2021 - 2027).
Based on Component, the market is segmented into Software and Services. Software market is bifurcated across Core HR, Recruiting, Workforce Planning & Analytics, Talent Management, Employee Collaboration & Engagement and Others. Based on Deployment Type, the market is segmented into On-premise and Hosted. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into IT & Telecom, BFSI, Retail, Healthcare, Manufacturing, Government & Public Sector and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Accenture PLC, ADP, Inc., Ceridian HCM Holding, Inc., IBM Corporation, Oracle Corporation, Workday, Inc., Marsh McLennan Companies, Inc. (Mercer LLC), Talentsoft (Cegid), UKG, Inc., and SAP SE
Scope of the Study
Market Segments Covered in the Report:
- Core HR
- Workforce Planning & Analytics
- Talent Management
- Employee Collaboration & Engagement
By Deployment Type
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises
By End User
- IT & Telecom
- Government & Public Sector
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Accenture PLC
- ADP, Inc.
- Ceridian HCM Holding, Inc.
- IBM Corporation
- Oracle Corporation
- Workday, Inc.
- Marsh McLennan Companies, Inc. (Mercer LLC)
- Talentsoft (Cegid)
- UKG, Inc.
- SAP SE
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