The global demand for Human Resource Management Market is presumed to reach the market size of nearly USD 68.75 MN by 2030 from USD 22.6 MN in 2022 with a CAGR of 14.92% under the study period 2023 - 2030.
Human Resource Management assists in effectively managing the people of an organization so that they can help the business to achieve a competitive advantage. It maximizes employee performance along with dealing with the management functions like planning, organizing, directing, and controlling. Areas of HRM include job analysis & design, recruitment, training and development, performance management, etc.
Market Dynamics
Automation & digitization of HR operations to create an efficient approach will increase the demand for the human resource management market. Modern technologies (predictive analytics, machine learning, and artificial intelligence) simplify the incorporation of human resource management solutions with analytics. The development of cloud-based HRM software enabled human resource departments to move workers' work schedules to the cloud as the employees worked remotely. These are the main drivers of market growth for HCM. Increasing demand for a unified HR suite and streamlined HR operations are the major driving factors for the market. Cloud-based HCM usage is expanding due to features such as limitless storage capacity, decreased cost and maintenance charges, and easy access through web & mobile from any location is boosting the HCM market significantly.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of human resource management. The growth and trends of human resource management industry provide a holistic approach to this study.
Market Segmentation
This section of the human resource management market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Component
By Software
- Core HR
- Employee Collaboration & Engagement
- Recruiting
- Talent Management
- Workforce Planning & Analytics
- Others
By Service
- Integration & Deployment
- Support & Maintenance
- Training & Consulting
By Deployment
By Enterprise Size
- Large Enterprise
- Small & Medium Enterprise (SME)
By End-Use
- Academia
- BFSI
- Government
- Healthcare
- IT & Telecom
- Manufacturing
- Retail
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Human Resource Management market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Human Resource Management Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the human resource management market include Accenture; ADP, Inc.; Cezanne HR Limited; Ceridian HCM, Inc.; International Business Machines Corporation (IBM); Kronos Incorporated; Mercer LLC; Oracle; PwC; SAP SE; Cegid; UKG Inc.; Workday, Inc. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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