Market Overview:
The global HR software market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for cloud-based HR software and the growing trend of BYOD (Bring Your Own Device). The benefits and claims management segment is expected to grow at a CAGR of 11.5% during the forecast period, while payroll and compensation management is expected to grow at a CAGR of 10.7%. Personnel management is also one of the fastest-growing segments in this market, with a CAGR of 11%. Regionally, North America dominates the global HR software market, followed by Europe and Asia Pacific. However, Asia Pacific is projected to be the fastest-growing region duringthe forecast period owingto th e rising adoptionof hrsoftwareby smal land medium-sized enterprises (SMEs) in this region .
Product Definition:
Human Resources software is a category of software that helps businesses manage human resources tasks, such as payroll, benefits administration, and employee tracking. Many HR software programs also offer features that help managers track employee performance and create reports on HR metrics.
The importance of HR Software cannot be overstated. It can help organizations automate many important HR tasks, freeing up valuable time for managers to focus on more strategic initiatives. Additionally, well-designed HR software can provide insights into key metrics such as workforce productivity and turnover rates.
Benefits and Claims Management:
Benefits and claims management, also known as B2B or employee benefits management is a software application that helps an organization to manage their employee benefit programs such as health, disability, life insurance and retirement plans. Benefits & claims management solutions are used by organizations to streamline their processes related to the administration of various benefit programs. The solution helps in improving the overall efficiency of the organization by reducing manual processing time and providing accurate information while delivering high-quality services to its customers.
Payroll and Compensation Management:
Payroll and compensation management is the part of human resource (HR) department which includes managing employee salary, benefits, time & attendance record, bonus payment information and other related data. Payroll software helps to calculate total pay for each employee every month based on their work schedule and also helps to generate reports as per the requirement of management.
Application Insights:
The manufacturing sector accounted for the largest revenue share of over 30% in 2017. The global demand for robust and easy to use human capital management software has been rising in the manufacturing sector owing to its core functions such as labor cost savings, time & attendance, employee relations and performance management. The segment is expected to register a significant growth rate over the forecast period.
The transportation and logistics industry is anticipated to emerge as one of the prominent application segments during the forecast period owing to its core functions such as supply chain management, asset/vehicle tracking, customer information system integration among others which are increasingly being adopted by organizations across various industries worldwide.
Regional Analysis:
The market in Asia Pacific is expected to grow at the highest rate over the forecast period. The growth can be attributed to various factors such as increasing penetration of digitalHR software, growing awareness about employee benefits and rising regulatory requirements for maintaining employee records. Furthermore, a large number of multinational companies are expanding their operations in this region due to low labor costs and easy availability of skilled workforce. These factors are expected to drive demand for HR software solutions over the next eight years.
Growth Factors:
- Increased demand for cloud-based HR software due to its scalability and affordability.
- Proliferation of mobile devices and apps that can help employees access HR information on the go.
- Growing trend of BYOD (Bring Your Own Device) in organizations, which is driving the demand for HR software that can be accessed from different devices/platforms.
- Emergence of social media platforms and big data analytics, which are helping organizations identify employee engagement and retention issues early on, thus driving the demand for HR software with features such as social networking and big data analysis capabilities respectively. 5 Emerging countries such as India and China are expected to witness high growth rates in the HR Software market due to their large population base and growing economy
Scope Of The Report
Report Attributes
Report Details
Report Title
HR Software Market Research Report
By Type
Benefits and Claims Management, Payroll and Compensation Management, Personnel Management, Learning Management, Pension Management, Compliance Management, Succession Planning
By Application
Government, Manufacturing, Energy and Utilities, Consumer Goods and Retail, Healthcare, Transportation and Logistics, Others
By Companies
Automatic Data Processing, Ceridian HCM, Corehr, Employwise, International Business Machines, Oracle, Paychex, Paycom Software, SAP, Sumtotal Systems, Ultimate Software Group, Workday
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
169
Number of Tables & Figures
119
Customization Available
Yes, the report can be customized as per your need.
Global HR Software Market Report Segments:
The global HR Software market is segmented on the basis of:
Types
Benefits and Claims Management, Payroll and Compensation Management, Personnel Management, Learning Management, Pension Management, Compliance Management, Succession Planning
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Government, Manufacturing, Energy and Utilities, Consumer Goods and Retail, Healthcare, Transportation and Logistics, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Automatic Data Processing
- Ceridian HCM
- Corehr
- Employwise
- International Business Machines
- Oracle
- Paychex
- Paycom Software
- SAP
- Sumtotal Systems
- Ultimate Software Group
- Workday
Highlights of The HR Software Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Benefits and Claims Management
- Payroll and Compensation Management
- Personnel Management
- Learning Management
- Pension Management
- Compliance Management
- Succession Planning
- By Application:
- Government
- Manufacturing
- Energy and Utilities
- Consumer Goods and Retail
- Healthcare
- Transportation and Logistics
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the HR Software Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
HR software is a computer application used to manage human resources. It can include features such as employee tracking, payroll, and benefits administration.
Some of the major companies in the hr software market are Automatic Data Processing, Ceridian HCM, Corehr, Employwise, International Business Machines, Oracle, Paychex, Paycom Software, SAP, Sumtotal Systems, Ultimate Software Group, Workday.
The hr software market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 HR Software Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 HR Software Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 HR Software Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the HR Software Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global HR Software Market Size & Forecast, 2018-2028
4.5.1 HR Software Market Size and Y-o-Y Growth
4.5.2 HR Software Market Absolute $ Opportunity
Chapter 5 Global HR Software Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 HR Software Market Size Forecast by Type
5.2.1 Benefits and Claims Management
5.2.2 Payroll and Compensation Management
5.2.3 Personnel Management
5.2.4 Learning Management
5.2.5 Pension Management
5.2.6 Compliance Management
5.2.7 Succession Planning
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global HR Software Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 HR Software Market Size Forecast by Applications
6.2.1 Government
6.2.2 Manufacturing
6.2.3 Energy and Utilities
6.2.4 Consumer Goods and Retail
6.2.5 Healthcare
6.2.6 Transportation and Logistics
6.2.7 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global HR Software Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 HR Software Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America HR Software Analysis and Forecast
9.1 Introduction
9.2 North America HR Software Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America HR Software Market Size Forecast by Type
9.6.1 Benefits and Claims Management
9.6.2 Payroll and Compensation Management
9.6.3 Personnel Management
9.6.4 Learning Management
9.6.5 Pension Management
9.6.6 Compliance Management
9.6.7 Succession Planning
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America HR Software Market Size Forecast by Applications
9.10.1 Government
9.10.2 Manufacturing
9.10.3 Energy and Utilities
9.10.4 Consumer Goods and Retail
9.10.5 Healthcare
9.10.6 Transportation and Logistics
9.10.7 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe HR Software Analysis and Forecast
10.1 Introduction
10.2 Europe HR Software Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe HR Software Market Size Forecast by Type
10.6.1 Benefits and Claims Management
10.6.2 Payroll and Compensation Management
10.6.3 Personnel Management
10.6.4 Learning Management
10.6.5 Pension Management
10.6.6 Compliance Management
10.6.7 Succession Planning
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe HR Software Market Size Forecast by Applications
10.10.1 Government
10.10.2 Manufacturing
10.10.3 Energy and Utilities
10.10.4 Consumer Goods and Retail
10.10.5 Healthcare
10.10.6 Transportation and Logistics
10.10.7 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific HR Software Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific HR Software Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific HR Software Market Size Forecast by Type
11.6.1 Benefits and Claims Management
11.6.2 Payroll and Compensation Management
11.6.3 Personnel Management
11.6.4 Learning Management
11.6.5 Pension Management
11.6.6 Compliance Management
11.6.7 Succession Planning
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific HR Software Market Size Forecast by Applications
11.10.1 Government
11.10.2 Manufacturing
11.10.3 Energy and Utilities
11.10.4 Consumer Goods and Retail
11.10.5 Healthcare
11.10.6 Transportation and Logistics
11.10.7 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America HR Software Analysis and Forecast
12.1 Introduction
12.2 Latin America HR Software Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America HR Software Market Size Forecast by Type
12.6.1 Benefits and Claims Management
12.6.2 Payroll and Compensation Management
12.6.3 Personnel Management
12.6.4 Learning Management
12.6.5 Pension Management
12.6.6 Compliance Management
12.6.7 Succession Planning
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America HR Software Market Size Forecast by Applications
12.10.1 Government
12.10.2 Manufacturing
12.10.3 Energy and Utilities
12.10.4 Consumer Goods and Retail
12.10.5 Healthcare
12.10.6 Transportation and Logistics
12.10.7 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) HR Software Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) HR Software Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) HR Software Market Size Forecast by Type
13.6.1 Benefits and Claims Management
13.6.2 Payroll and Compensation Management
13.6.3 Personnel Management
13.6.4 Learning Management
13.6.5 Pension Management
13.6.6 Compliance Management
13.6.7 Succession Planning
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) HR Software Market Size Forecast by Applications
13.10.1 Government
13.10.2 Manufacturing
13.10.3 Energy and Utilities
13.10.4 Consumer Goods and Retail
13.10.5 Healthcare
13.10.6 Transportation and Logistics
13.10.7 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 HR Software Market: Competitive Dashboard
14.2 Global HR Software Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Automatic Data Processing
14.3.2 Ceridian HCM
14.3.3 Corehr
14.3.4 Employwise
14.3.5 International Business Machines
14.3.6 Oracle
14.3.7 Paychex
14.3.8 Paycom Software
14.3.9 SAP
14.3.10 Sumtotal Systems
14.3.11 Ultimate Software Group
14.3.12 Workday
