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Report Overview

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 10.50% between 2024 and 2032.

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Human Resource Management Market

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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.

Human Resource Management Market By Segments

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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. The human resource management market can be divided on the basis of segments like component, deployment model, and industry verticles.

Market Breakup by Component

  • Core HR
  • Recruiting
  • Workforce Management
  • Compensation and Payroll
  • Services
  • Professional Service
  • Others (Learning, Appliany Tracking & Onboaring)

Market Breakup by Deployment Model

  • Cloud
  • On-Premises

Market Breakup by Industry Verticals

  • Banking Financial Services and Insurance (BFSI)
  • Retail
  • IT and Telecommunication
  • Healthcare
  • Hospitality
  • Government
  • Manufacturing
  • Others (Education, Transportation, Energy and Utilities and Media and Entertainment)

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

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.

Human Resource Management Market By Region

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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:

  • Cornerstone OnDemand, Inc.,
  • Kronos Incorporated
  • ADP, LLC (NASDAQ: ADP) 
  • IBM (NYSE: IBM)
  • Oracle Corp.
  • Infor Inc.
  • SAP SE
  • 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.

Human Resource Management Market Report Snapshots

Human Resource Management Market Size

Human Resource Management Market Analysis

Human Resource Management Companies

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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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 10.50% 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 Cornerstone OnDemand, Inc., Kronos Incorporated, ADP, LLC (NASDAQ: ADP), IBM (NYSE: IBM), Oracle Corp., Infor Inc., SAP SE, Others.

Report Summary

Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.

Key Highlights of the Report

Please note that the figures mentioned in the description serve as estimates and may vary from the actual figures presented in the final report.

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 and Telecommunication
  • Healthcare
  • Hospitality
  • Government
  • Manufacturing
  • Others (Education, Transportation, Energy and Utilities and Media and Entertainment) 
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Cornerstone OnDemand, Inc.,
  • Kronos Incorporated
  • ADP, LLC (NASDAQ: ADP) 
  • IBM (NYSE: IBM)
  • Oracle Corp.
  • Infor Inc.
  • SAP SE
  • Others
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Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.
 

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63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63 287899028, +63 967 048 3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124