Published Date: 18-Aug-2021
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According to a new report Global Human Resource Management Market, published by KBV research, The Global Human Resource Management Market size is expected to reach $39.5 billion by 2027, rising at a market growth of 11.8% CAGR during the forecast period.
By component, the software segment acquired the highest revenue share in the market in 2020. It is due to the huge demand for core HR & talent management software from companies across various verticals for the retention of employees. The core HR and talent management software can also assist in improving the workflows & consequently boosting the productivity of the organization. In addition, core HR systems can especially help companies in decreasing the burden of performing traditional HR activities and help managers in taking strategic decisions.
The demand for hosted deployment is anticipated to spur substantially during the forecast period. Hosted or cloud deployment enables companies to easily access information from any location. It also removes the periodic software upgrades requirements. In addition, hosted solutions provide convenience and advantages like swift integration, less operational manpower need, and minimum maintenance. Various HRM solution providers like IBM Corp., Oracle Corp., SAP SE, and ADP LLC, have begun with providing their solutions on the cloud.
Region-wise, North America emerged as the leading region with the highest market share in 2020. It is owing to the presence of various HRM solution providers. Companies in the U.S. are especially aiming at improving labor efficiency and boosting productivity by implementing HRM solutions for payroll management, attendance & time tracking, and talent management, among other operations. This region is the early adopter of various new technologies and has deployed cloud-native technologies rapidly.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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
By Deployment Type
By Enterprise Size
By End User
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