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North America Core HR Software Market Size, Share, Trends: By Component: Software, Services; By Type: Learning Management, Payroll and Compensation Management, Personnel Management, Pension Management, Others; By Deployment; By Enterprise Size; By End User; Regional Analysis; Competitive Landscape; 2024-2032
North America Core HR Software Market Outlook
The North America core HR software market size reached nearly USD 3.47 billion in 2023. The market is projected to grow at a CAGR of 7.1% between 2024 and 2032, reaching almost USD 6.46 billion by 2032.
Key Takeaways:
- Increasing cybersecurity risks posed by the emergence of remote work culture are expected to affect the market favourably.
- Core HR software can help organisations in recruiting a diverse and inclusive workforce.
- The integration of blockchain into core HR software is expected to emerge as one of the key market trends.
The increasing demand for human resources technology is positively influencing the North America core HR software market growth. This is because advanced software enables HR professionals to optimise their core functions and streamline time-consuming tasks. This provides organisations with an opportunity to improve their recruitment practices and develop new strategies for employee engagement and retention.
Organisations can also focus on minimising employee fatigue by integrating change management policies with HR technology platforms, thereby improving employee experience and management practices. This is expected to accelerate the North America core HR software market expansion in the forecast period.
Technological advancements are facilitating rapid changes in core HR software applications. With the integration of artificial intelligence and machine learning algorithms into the software, employee turnover has been significantly reduced by providing personalised strategies for individual learning and development to employees.
Workforce planning has become a relatively easier exercise with the help of data analytics tools, which is prompting an increase in the adoption of core HR software across the region. Over the forecast period, the increasing demand for technically qualified candidates in domains such as IT and finance is expected to drive the North America core HR software market development.
Employee well-being is taking centre stage in many human resource management policies. In the USA, nearly 88% of companies are expected to offer online resources for mental health support to their employees in 2024. This is expected to further boost the demand for innovative software solutions for human resource management practices in the coming years.
Market Segmentation
North America Core HR Software Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Component
- Software
- Services
Market Breakup by Type
- Learning Management
- Payroll and Compensation Management
- Personnel Management
- Pension Management
- Compliance Management
- Benefits and Claims Management
- Others
Market Breakup by Deployment
- Cloud
- On-Premises
Market Breakup by Enterprise Size
- Small and Medium-Size Enterprise
- Large Enterprise
Market Breakup by End User
- BFSI
- IT and Telecom
- Manufacturing
- Government
- Healthcare
- Energy and Utilities
- Consumer Goods and Retail
- Others
Market Breakup by Country
- United States of America
- Canada
The key North America core HR software market players are Ceridian HCM Holding, Inc., Oracle Corp., SAP SE., Automatic Data Processing, Inc., UKG Inc., Paychex Holdings, LLC., Paylocity Corporation, ZenPayroll, Inc., (Gusto), Workday Inc., and Zoho Corporation Pvt. Ltd., among others.
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:
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| Breakup by Component |
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| Breakup by Type |
|
| Breakup by Deployment |
|
| Breakup by Enterprise Size |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*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 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Core HR Software Market Overview
8.1 Key Industry Highlights
8.2 Global Core HR Software Historical Market (2018-2023)
8.3 Global Core HR Software Market Forecast (2024-2032)
8.4 Global Core HR Software Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 North America Core HR Software Market Overview
9.1 Key Industry Highlights
9.2 North America Core HR Software Historical Market (2018-2023)
9.3 North America Core HR Software Market Forecast (2024-2032)
10 North America Core HR Software Market by Component
10.1 Software
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Services
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 North America Core HR Software Market by Type
11.1 Learning Management
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Payroll and Compensation Management
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Personnel Management
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Pension Management
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Compliance Management
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Benefits and Claims Management
11.6.1 Historical Trend (2018-2023)
11.6.2 Forecast Trend (2024-2032)
11.7 Others
12 North America Core HR Software Market by Deployment
12.1 Cloud
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 On-Premises
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 North America Core HR Software Market by Enterprise Size
13.1 Small and Medium-Size Enterprise
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Large Enterprise
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
14 North America Core HR Software Market by End User
14.1 BFSI
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 IT and Telecom
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
14.3 Manufacturing
14.3.1 Historical Trend (2018-2023)
14.3.2 Forecast Trend (2024-2032)
14.4 Government
14.4.1 Historical Trend (2018-2023)
14.4.2 Forecast Trend (2024-2032)
14.5 Healthcare
14.5.1 Historical Trend (2018-2023)
14.5.2 Forecast Trend (2024-2032)
14.6 Energy and Utilities
14.6.1 Historical Trend (2018-2023)
14.6.2 Forecast Trend (2024-2032)
14.7 Consumer Goods and Retail
14.7.1 Historical Trend (2018-2023)
14.7.2 Forecast Trend (2024-2032)
14.8 Energy and Utilities
14.8.1 Historical Trend (2018-2023)
14.8.2 Forecast Trend (2024-2032)
14.9 Others
15 North America Core HR Software Market by Country
15.1 United States of America
15.1.1 Historical Trend (2018-2023)
15.1.2 Forecast Trend (2024-2032)
15.2 Canada
15.2.1 Historical Trend (2018-2023)
15.2.2 Forecast Trend (2024-2032)
16 Market Dynamics
16.1 SWOT Analysis
16.1.1 Strengths
16.1.2 Weaknesses
16.1.3 Opportunities
16.1.4 Threats
16.2 Porter’s Five Forces Analysis
16.2.1 Supplier’s Power
16.2.2 Buyer’s Power
16.2.3 Threat of New Entrants
16.2.4 Degree of Rivalry
16.2.5 Threat of Substitutes
16.3 Key Indicators of Demand
16.4 Key Indicators of Price
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Ceridian HCM Holding, Inc.
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Oracle Corp.
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 SAP SE.
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Automatic Data Processing, Inc.
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 UKG Inc.
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Paychex Holdings, LLC.
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 Paylocity Corporation
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 ZenPayroll, Inc., (Gusto)
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 Workday Inc.
17.2.9.1 Company Overview
17.2.9.2 Product Portfolio
17.2.9.3 Demographic Reach and Achievements
17.2.9.4 Certifications
17.2.10 Zoho Corporation Pvt. Ltd.
17.2.10.1 Company Overview
17.2.10.2 Product Portfolio
17.2.10.3 Demographic Reach and Achievements
17.2.10.4 Certifications
17.2.11 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Core HR Software Market: Key Industry Highlights, 2018 and 2032
2. North America Core HR Software Market: Key Industry Highlights, 2018 and 2032
3. North America Core HR Software Historical Market: Breakup by Component (USD Million), 2018-2023
4. North America Core HR Software Market Forecast: Breakup by Component (USD Million), 2024-2032
5. North America Core HR Software Historical Market: Breakup by Type (USD Million), 2018-2023
6. North America Core HR Software Market Forecast: Breakup by Type (USD Million), 2024-2032
7. North America Core HR Software Historical Market: Breakup by Deployment (USD Million), 2018-2023
8. North America Core HR Software Market Forecast: Breakup by Deployment (USD Million), 2024-2032
9. North America Core HR Software Historical Market: Breakup by Enterprise Size (USD Million), 2018-2023
10. North America Core HR Software Market Forecast: Breakup by Enterprise Size (USD Million), 2024-2032
11. North America Core HR Software Historical Market: Breakup by End User (USD Million), 2018-2023
12. North America Core HR Software Market Forecast: Breakup by End User (USD Million), 2024-2032
13. North America Core HR Software Historical Market: Breakup by Country (USD Million), 2018-2023
14. North America Core HR Software Market Forecast: Breakup by Country (USD Million), 2024-2032
15. North America Core HR Software Market Structure
Key Questions Answered in the Report
The market was valued at nearly USD 3.47 billion in 2023.
The market is projected to grow at a CAGR of 7.1% between 2024 and 2032.
The market is assessed to witness a healthy growth in the forecast period to reach around USD 6.46 billion in 2032.
The different enterprise sizes in the market include small and medium-size enterprises and large enterprises.
The major end users of core HR software include BFSI, IT and telecom, manufacturing, government, healthcare, energy and utilities, and consumer goods and retail, among others.
The different deployments considered in the market report are cloud and on-premises.
The major countries in the market include the United States of America and Canada.
The key market players are Ceridian HCM Holding, Inc., Oracle Corp., SAP SE., Automatic Data Processing, Inc., UKG Inc., Paychex Holdings, LLC., Paylocity Corporation, ZenPayroll, Inc., (Gusto), Workday Inc., and Zoho Corporation Pvt. Ltd., among others.
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