Market Overview:
The global human resource management market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for human resource management solutions from various industries, such as academia, BFSI, government, healthcare, IT & telecom, manufacturing and retail sectors. Additionally, the growing trend of cloud-based HRM solutions is also contributing significantly to the growth of this market. However, lack of awareness about HRM solutions among small and medium enterprises (SMEs) is restraining the growth of this market to some extent. On the basis of type, integration & deployment segment accounted for majority share in 2017 and it is projected to maintain its dominance throughout the forecast period. This can be attributed due high adoption rateofintegration& deployment type HRM solution by various organizations across different industry verticals owingto its ability toreduce administrative overheadsand improve operational efficiency . On th e basis o f application ,academia sector held major share in 2017 an d it i s projec ted t o maintainits lead dueto increasin g demand for hr solut ionsfrom educational institutes tounderstand employee engagementand retention strategies .
Product Definition:
Human Resource Management (HRM) is the process of managing people in an organization. It includes activities such as recruiting employees, orientating them, training them, assigning them to jobs, appraising their work performance, and deciding on how much they should be paid. HRM is important because it helps ensure that an organization has the right number of employees with the right skills to meet its goals.
Integration & Deployment:
Integration and deployment are the two faces of the same coin. They both help in improving efficiency and effectiveness of software applications. In recent times, there has been a significant rise in demand for cloud-based solutions which have further led to an increase in demand for integration services as they provide seamless connectivity between various systems deployed at client’s end.
Support & Maintenance:
Support & maintenance is a service that helps organizations to reduce the cost of IT support and maintenance. It comprises of three phases such as planning, executing, and monitoring services which are used in human resource management market. The HRM software includes various modules such as time & attendance tracking, recruiting tools, employee relationship management among others which need continuous updates from IT department for smooth functioning.
Application Insights:
The application segment is segregated into seven broad categories, namely academia, banking, financial services, and insurance (BFSI), government, IT & telecom., manufacturing. retail and others. The BFSI sector accounted for the largest market share in 2017 owing to the presence of a large number of companies offering human resource management solutions to various organizations within this industry.
The growing need for skilled manpower in the technology-oriented industries coupled with an increase in employee engagement has been driving demand within this segment over the past few years. Furthermore, increasing penetration of mobile technologies along with remote working is expected to further drive demand from 2018 to 2030 as these practices have become common place throughout various industries worldwide since past few years.
Regional Analysis:
The market in North America is expected to grow at a significant rate over the forecast period. The presence of major players, such as Oracle Corporation; PeopleSoft Inc.; and Microsoft Corporation; has led to an increased adoption of human resource management solutions in the region. Moreover, increasing demand for cloud-based HRMS from small & medium enterprises (SMEs) is anticipated to drive regional growth over the forecast period.
Asia Pacific is estimated to be one of the fastest-growing regions during the forecast years owing to factors such as growing population and rapid technological advancements across various industries that require effective employee relations, particularly BFSI, healthcare & life sciences, manufacturing & automotive sectors. Furthermore, rising awareness regarding benefits associated with people management practices are also driving regional growth over time horizon considered for this study – 2018 - 2030 — 2018).
Growth Factors:
- Increasing demand for skilled workforce: The global human resource management market is expected to grow at a CAGR of around 7% during the forecast period. This growth can be attributed to the increasing demand for skilled workforce across industries.
- Proliferation of digital technologies: The advent of digital technologies has led to the emergence of new HR practices, such as social recruiting and big data analytics, which are helping organizations manage their human resources more effectively.
- Growing emphasis on employee retention: Organizations are increasingly emphasizing on employee retention as it helps them reduce costs associated with recruitment and training processes. This is driving the growth of the global human resource management market.
- Rising number of mergers and acquisitions: The number of mergers and acquisitions (M&As) is increasing globally, which is resulting in an increased demand for HR professionals who can manage these transitions effectively. This is propelling the growth of the global human resource management market . 5
Scope Of The Report
Report Attributes
Report Details
Report Title
Human Resource Management Market Research Report
By Type
Integration & Deployment, Support & Maintenance, Training & Consulting
By Application
Academia, BFSI, Government, Healthcare, IT & Telecom, Manufacturing, Retail, Others
By Companies
ADP, Workday, Oracle, Kronos, Ultimate Software, SAP
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
179
Number of Tables & Figures
126
Customization Available
Yes, the report can be customized as per your need.
Global Human Resource Management Market Report Segments:
The global Human Resource Management market is segmented on the basis of:
Types
Integration & Deployment, Support & Maintenance, Training & Consulting
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
Academia, BFSI, Government, Healthcare, IT & Telecom, Manufacturing, Retail, 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:
- ADP
- Workday
- Oracle
- Kronos
- Ultimate Software
- SAP
Highlights of The Human Resource Management 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:
- Integration & Deployment
- Support & Maintenance
- Training & Consulting
- By Application:
- Academia
- BFSI
- Government
- Healthcare
- IT & Telecom
- Manufacturing
- Retail
- 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 Human Resource Management 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.
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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?
Human resource management is the process of planning, organizing, and directing the people resources of an organization. It includes identifying the needs of employees and developing strategies to meet those needs; setting goals and objectives for employee performance; providing training and development opportunities; managing employee relations; monitoring employee performance.
Some of the key players operating in the human resource management market are ADP, Workday, Oracle, Kronos, Ultimate Software, SAP.
The human resource management 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 Human Resource Management 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 Human Resource Management Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Human Resource Management 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 Human Resource Management 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 Human Resource Management Market Size & Forecast, 2018-2028
4.5.1 Human Resource Management Market Size and Y-o-Y Growth
4.5.2 Human Resource Management Market Absolute $ Opportunity
Chapter 5 Global Human Resource Management 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 Human Resource Management Market Size Forecast by Type
5.2.1 Integration & Deployment
5.2.2 Support & Maintenance
5.2.3 Training & Consulting
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Human Resource Management 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 Human Resource Management Market Size Forecast by Applications
6.2.1 Academia
6.2.2 BFSI
6.2.3 Government
6.2.4 Healthcare
6.2.5 IT & Telecom
6.2.6 Manufacturing
6.2.7 Retail
6.2.8 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Human Resource Management 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 Human Resource Management 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 Human Resource Management Analysis and Forecast
9.1 Introduction
9.2 North America Human Resource Management 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 Human Resource Management Market Size Forecast by Type
9.6.1 Integration & Deployment
9.6.2 Support & Maintenance
9.6.3 Training & Consulting
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 Human Resource Management Market Size Forecast by Applications
9.10.1 Academia
9.10.2 BFSI
9.10.3 Government
9.10.4 Healthcare
9.10.5 IT & Telecom
9.10.6 Manufacturing
9.10.7 Retail
9.10.8 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 Human Resource Management Analysis and Forecast
10.1 Introduction
10.2 Europe Human Resource Management 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 Human Resource Management Market Size Forecast by Type
10.6.1 Integration & Deployment
10.6.2 Support & Maintenance
10.6.3 Training & Consulting
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 Human Resource Management Market Size Forecast by Applications
10.10.1 Academia
10.10.2 BFSI
10.10.3 Government
10.10.4 Healthcare
10.10.5 IT & Telecom
10.10.6 Manufacturing
10.10.7 Retail
10.10.8 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 Human Resource Management Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Human Resource Management 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 Human Resource Management Market Size Forecast by Type
11.6.1 Integration & Deployment
11.6.2 Support & Maintenance
11.6.3 Training & Consulting
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 Human Resource Management Market Size Forecast by Applications
11.10.1 Academia
11.10.2 BFSI
11.10.3 Government
11.10.4 Healthcare
11.10.5 IT & Telecom
11.10.6 Manufacturing
11.10.7 Retail
11.10.8 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 Human Resource Management Analysis and Forecast
12.1 Introduction
12.2 Latin America Human Resource Management 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 Human Resource Management Market Size Forecast by Type
12.6.1 Integration & Deployment
12.6.2 Support & Maintenance
12.6.3 Training & Consulting
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 Human Resource Management Market Size Forecast by Applications
12.10.1 Academia
12.10.2 BFSI
12.10.3 Government
12.10.4 Healthcare
12.10.5 IT & Telecom
12.10.6 Manufacturing
12.10.7 Retail
12.10.8 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) Human Resource Management Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Human Resource Management 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) Human Resource Management Market Size Forecast by Type
13.6.1 Integration & Deployment
13.6.2 Support & Maintenance
13.6.3 Training & Consulting
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) Human Resource Management Market Size Forecast by Applications
13.10.1 Academia
13.10.2 BFSI
13.10.3 Government
13.10.4 Healthcare
13.10.5 IT & Telecom
13.10.6 Manufacturing
13.10.7 Retail
13.10.8 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 Human Resource Management Market: Competitive Dashboard
14.2 Global Human Resource Management Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ADP
14.3.2 Workday
14.3.3 Oracle
14.3.4 Kronos
14.3.5 Ultimate Software
14.3.6 SAP
