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Human Resource Management Market

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.

 

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.

 

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.

 

Human Resource Management Market By Segments

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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.

 

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.

 

Key Highlights of the 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
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.

 

Human Resource Management Market Report Snapshots

Human Resource Management Market Size

Human Resource Management Market Analysis

Human Resource Management Companies

 

*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    Cornerstone OnDemand, Inc.,
            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    Kronos Incorporated
            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    ADP, LLC (NASDAQ: ADP)
            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    IBM (NYSE: IBM)
            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    Oracle Corp.
            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    Infor Inc.
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    SAP SE
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    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 Cornerstone OnDemand, Inc., Kronos Incorporated, ADP, LLC (NASDAQ: ADP), IBM (NYSE: IBM), Oracle Corp., Infor Inc., SAP SE, 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 Cornerstone OnDemand, Inc., Kronos Incorporated, ADP, LLC (NASDAQ: ADP), IBM (NYSE: IBM), Oracle Corp., Infor Inc., SAP SE, 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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