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Global Human Resource Management Market Share, Forecast: By Component: Core HR, Recruiting, Workforce Management, Compensation and Payroll, Services, Professional Service; By Deployment Model: Cloud, On-Premises; By Industry Verticals; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Global Human Resource Management Market Outlook
In 2023, the global human resource management market stood at a value of USD 25.53 billion and is expected to grow at a CAGR of 10.5% between 2024 and 2032.
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Global organizations are focusing on establishing a digital workplace that allows high productivity, provides flexibility, mobility, and utilizes modern communication instruments. This change of business processes from legacy to digital systems is driving the market growth for human resource management as it plays a major role in centralizing human resource information across an organization's divisions, enabling simple data access.
Market Segmentation
Human resource management is a practical approach to manage people effectively in a company or an organization to assist in their business and achieve a competitive advantage. It is intended to optimize the output of employees serving the strategic goals of an employer.
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The human resource management market can be divided on the basis of segments like component, deployment model, and industry verticles.
The industry can be broadly categorised on the basis of its industry verticles into:
- Banking Financial Services and Insurance (BFSI)
- Retail
- IT and Telecommunication
- Healthcare
- Hospitality
- Government
- Manufacturing
- Others (Education, Transportation, Energy and Utilities and Media and Entertainment)
The industry can be divided on the basis of its component into core HR, recruiting, workforce management, compensation and payroll, services, and professional service, among others. The industry can be segmented based on its deployment models into CLOUD and on-premises.
The EMR report looks into the regionals markets of human resource management like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
Market Analysis
Advances in IT and the introduction of predictive analytics in HR procedures are anticipated to increase the development of human resource management market. The evolution of multiple human resource management (HRM) has allowed practitioners to carry out traditional HR operations over a short period of time and then concentrate on attracting the correct pool of applicants, maintaining human capital, aligning organisational policies with individual objectives, and managing their human resources in a way that results in organisational development.
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Competitive Landscape
The report gives a detailed analysis of the following key players in the global human resource management market, looking into their capacities, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- SAP SE (ETR: SAP)
- Infor INC.
- Oracle Corporation (NYSE: ORCL)
- Kronos INC.
- Cornerstone Ondemand, INC. (NASDAQ: CSOD)
- IBM (NYSE: IBM)
- ADP, LLC (NASDAQ: ADP)
- Others
The EMR report provides an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter's five forces.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Component, Deployment Model, Industry Verticals, Region |
| Breakup by Component | Core HR, Recruiting, Workforce Management, Compensation and Payroll, Services, Professional Service, Others (Learning, Appliany Tracking & Onboaring) |
| Breakup by Deployment Model | Cloud, On-Premises |
| Breakup by Industry Verticals | Banking Financial Services and Insurance (BFSI), Retail, IT & Telecommunication, Healthcare, Hospitality, Government, Manufacturing, Others (Education, Transportation, Energy & Utilities and Media & Entertainment) |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | SAP SE (ETR: SAP), INFOR INC., ORACLE CORPORATION (NYSE: ORCL), KRONOS INC., CORNERSTONE ONDEMAND, INC. (NASDAQ: CSOD), IBM (NYSE: IBM), ADP, LLC (NASDAQ: ADP), Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Human Resource Management Market Analysis
8.1 Key Industry Highlights
8.2 Global Human Resource Management Historical Market (2018-2023)
8.3 Global Human Resource Management Market Forecast (2024-2032)
8.4 Global Human Resource Management Market by Component
8.4.1 Core HR
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Recruiting
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Workforce Management
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Compensation and Payroll
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Services
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Professional Service
8.4.6.1 Historical Trend (2018-2023)
8.4.6.2 Forecast Trend (2024-2032)
8.4.7 Others (Learning, Applicant Tracking and Onboarding)
8.5 Global Human Resource Management Market by Deployment Model
8.5.1 Cloud
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 On-Premises
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Human Resource Management Market by Industry Verticals
8.6.1 Banking Financial Services and Insurance (BFSI)
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Retail
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 IT and Telecommunication
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Healthcare
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Hospitality
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
8.6.6 Government
8.6.6.1 Historical Trend (2018-2023)
8.6.6.2 Forecast Trend (2024-2032)
8.6.7 Manufacturing
8.6.7.1 Historical Trend (2018-2023)
8.6.7.2 Forecast Trend (2024-2032)
8.6.8 Others (Education, Transportation, Energy and Utilities and Media and Entertainment)
8.7 Global Human Resource Management Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Human Resource Management Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Human Resource Management Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Human Resource Management Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Human Resource Management Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Human Resource Management Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 SAP SE
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Oracle Corp.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Kronos Incorporated
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Infor Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Cornerstone OnDemand, Inc.,
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Human Resource Management Market: Key Industry Highlights, 2018 and 2032
2. Global Human Resource Management Historical Market: Breakup by Component (USD Million), 2018-2023
3. Global Human Resource Management Market Forecast: Breakup by Component (USD Million), 2024-2032
4. Global Human Resource Management Historical Market: Breakup by Deployment Model (USD Million), 2018-2023
5. Global Human Resource Management Market Forecast: Breakup by Deployment Model (USD Million), 2024-2032
6. Global Human Resource Management Historical Market: Breakup by Industry Verticals (USD Million), 2018-2023
7. Global Human Resource Management Market Forecast: Breakup by Industry Verticals (USD Million), 2024-2032
8. Global Human Resource Management Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Human Resource Management Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Human Resource Management Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Human Resource Management Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Human Resource Management Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Human Resource Management Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Human Resource Management Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Human Resource Management Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Human Resource Management Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Human Resource Management Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Human Resource Management Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Human Resource Management Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Global Human Resource Management Market Structure
Key Questions Answered in the Report
The global human resource management market reached a value of USD 25.53 billion in 2023.
The market is projected to grow at a CAGR of 10.5% in the forecast period of 2024 and 2032.
The major drivers of the market include the changing business processes from legacy to digital systems, continued digitisation, increasing popularity of HRM solutions, and investments by government.
Advances in IT and the introduction of predictive analytics in HR procedures are the key trends propelling the market forward.
The major regions of the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The major components in the market are core HR, recruiting, workforce management, compensation and payroll, services, and professional service, among others (learning, applicant tracking and onboarding).
The different deployment models in the industry are cloud and on-premises.
The significant market verticals include banking financial services and insurance (BFSI), retail, IT and telecommunication, healthcare, hospitality, government, and manufacturing, among others (education, transportation, energy and utilities, media and entertainment).
The key players in the market are SAP SE, Oracle Corp., Kronos Incorporated, Infor Inc., and Cornerstone OnDemand, Inc., among others.
Analyst Review
The global human resource management market attained a value of USD 25.53 billion in 2023 driven by the transformation of business processes from legacy to digital systems. Aided by the continued digitisation and investments by government, the industry is projected to grow at a CAGR of 10.5% in the forecast period of 2024 -2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its component, the industry can be segmented into core HR, recruiting, workforce management, compensation and payroll, services, and professional service, among others (learning, applicant tracking, and onboarding). On the basis of deployment model, the industry can be segmented into cloud and on-premises. Based on its industry verticals, the industry can be segmented into banking financial services and insurance (BFSI), retail, IT and telecommunication, healthcare, hospitality, government, and manufacturing, among others (education, transportation, energy and utilities, media and entertainment). The major regional markets for human resource management are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. The key players in the above market include SAP SE, Oracle Corp., Kronos Incorporated, Infor Inc., and Cornerstone OnDemand, Inc., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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