Market Overview:
The global SaaS-based HRM market is expected to grow at a CAGR of 16.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for cloud-based HRM solutions among small and medium enterprises (SMEs) and large enterprises across different regions. Additionally, the growing need for integrated HRM solutions that can manage various aspects of employee management is also contributing to the growth of this market. The SaaS-based HRM market by type is segmented into SMEs and large enterprises. The SMEs segment is expected to grow at a higher CAGR during the forecast period, owing to the growing demand for cloud-based HRM solutions among small businesses due to their lower costs and easy deployment options. In terms of application, banking, financial services and insurance (BFSI) sector accounted for majority share in 2017; however, healthcare sector is projected grow at highest CAGR over next few years owing rising awareness about benefits offered by these systems in terms of compliance with government regulations such as HIPAA in U.S., GDPR in Europe etc., increasing focus on employee productivity & retention rates along with reduced administrative overheads .
Product Definition:
SaaS-based human resources management (HRM) is a type of software as a service (SaaS) application that enables businesses to manage employee information and processes online. SaaS HRM solutions offer a number of advantages over traditional, on-premises HRM software, including lower costs, easier implementation and updates, and improved collaboration among employees. SaaS HRM systems are also often more user-friendly than traditional HRM applications, making them attractive to small businesses that may not have the resources to implement or maintain an in-house HR system.
Small and Medium Enterprise:
Small and medium enterprise (SME) is a category of organization that comprises less than 1000 employees. It is also known as micro business or nano business. These organizations have certain advantages over large enterprises such as low capital requirement, lesser number of stakeholders, and easy entry into the market. However, these SMEs are not always aware about the available cloud solutions or services which can help them in reducing their operational costs significantly by moving some applications to cloud platform.
Large Enterprise:
Large enterprise is a term used to define an organization with more than 1000 employees. It has been observed that large enterprises are increasingly adopting cloud-based solutions for their day-to-day operations. This trend has also been witnessed in the Human Capital Management (HCM) space, which includes human resource management as well.
Application Insights:
The banking, financial services and insurance segment dominated the global SaaS based HRM market in 2017. The segment is expected to retain its dominance over the forecast period owing to factors such as increasing penetration of cloud computing services among banks and rising demand for online human resources management solutions among various BFSI enterprises. Furthermore, growing awareness about reducing costs coupled with a need for streamlining operations is anticipated to drive the adoption of SaaS based human capital management applications in this sector over the forecast period.
The healthcare segment accounted for a significant share in 2017 due to factors such as an increase in usage of electronic medical records (EMR) that require constant monitoring by healthcare providers and managers across different departments within hospitals or clinics. In addition, an increase in number of cyberattacks targeting EHRs has increased concerns regarding data security which further drives demand for saas hrm software within this industry vertical.
Regional Analysis:
North America dominated the global market in 2017. The growth of the region can be attributed to several factors such as increasing penetration of cloud based solutions, high internet usage, and growing adoption of mobile devices. Furthermore, presence of a large number of small and medium sized enterprises (SMEs) is expected to drive regional growth over the forecast period.
Asia Pacific is anticipated to witness significant growth over the next eight years owing to increasing government initiatives for improving employee engagement levels and reducing costs associated with recruitment activities in developing economies including India, China, Singapore etc. Additionally, an increase in spending on infrastructure development has led to increased demand for skilled labor across various industries thereby driving saas HRM platform adoption rates in this region. ‘The future belongs not only to those who are strong but also those who are swift.
Growth Factors:
- Increased demand for cloud-based HRM solutions due to the growing trend of moving business processes to the cloud.
- The need for organizations to reduce costs and improve efficiency, which can be achieved through the implementation of SaaS-based HRM solutions.
- The continued growth of mobile devices and BYOD policies, which is driving demand for HRM solutions that are accessible via mobile devices.
- The increasing focus on workforce analytics and big data, which is resulting in greater demand for SaaS-based HRM solutions that provide sophisticated analytical capabilities.
- The rising popularity of social media, which is creating new opportunities for companies to use social media platforms as a means of recruiting employees and engaging with employees
Scope Of The Report
Report Attributes
Report Details
Report Title
SaaS Based HRM Market Research Report
By Type
Small and Medium Enterprise, Large Enterprise
By Application
Banking, Financial Services and Insurance (BFSI), Healthcare, IT and Telecom, Manufacturing, Others
By Companies
ADP, LLC, IBM Corporation, Oracle (Taleo Corporation), Persis GmbH, Perbit Software GmbH, Jobvite Inc., SAP (SuccessFactor, Inc.), Rexx systems GmbH, SD Worx, The Sage Group plc
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
243
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global SaaS Based HRM Market Report Segments:
The global SaaS Based HRM market is segmented on the basis of:
Types
Small and Medium Enterprise, Large Enterprise
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
Banking, Financial Services and Insurance (BFSI), Healthcare, IT and Telecom, Manufacturing, 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, LLC
- IBM Corporation
- Oracle (Taleo Corporation)
- Persis GmbH
- Perbit Software GmbH
- Jobvite Inc.
- SAP (SuccessFactor, Inc.)
- Rexx systems GmbH
- SD Worx
- The Sage Group plc
Highlights of The SaaS Based HRM 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:
- Small and Medium Enterprise
- Large Enterprise
- By Application:
- Banking, Financial Services and Insurance (BFSI)
- Healthcare
- IT and Telecom
- Manufacturing
- 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 SaaS Based HRM 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?
SaaS Based HRM is a cloud-based human resources management solution that helps organizations manage employee data and performance. It includes features such as employee tracking, payroll processing, and communication tools.
Some of the major players in the saas based hrm market are ADP, LLC, IBM Corporation, Oracle (Taleo Corporation), Persis GmbH, Perbit Software GmbH, Jobvite Inc., SAP (SuccessFactor, Inc.), Rexx systems GmbH, SD Worx, The Sage Group plc.
The saas based hrm market is expected to grow at a compound annual growth rate of 16.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 SaaS Based HRM 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 SaaS Based HRM Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 SaaS Based HRM 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 SaaS Based HRM 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 SaaS Based HRM Market Size & Forecast, 2018-2028
4.5.1 SaaS Based HRM Market Size and Y-o-Y Growth
4.5.2 SaaS Based HRM Market Absolute $ Opportunity
Chapter 5 Global SaaS Based HRM 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 SaaS Based HRM Market Size Forecast by Type
5.2.1 Small and Medium Enterprise
5.2.2 Large Enterprise
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global SaaS Based HRM 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 SaaS Based HRM Market Size Forecast by Applications
6.2.1 Banking
6.2.2 Financial Services and Insurance (BFSI)
6.2.3 Healthcare
6.2.4 IT and Telecom
6.2.5 Manufacturing
6.2.6 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global SaaS Based HRM 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 SaaS Based HRM 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 SaaS Based HRM Analysis and Forecast
9.1 Introduction
9.2 North America SaaS Based HRM 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 SaaS Based HRM Market Size Forecast by Type
9.6.1 Small and Medium Enterprise
9.6.2 Large Enterprise
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 SaaS Based HRM Market Size Forecast by Applications
9.10.1 Banking
9.10.2 Financial Services and Insurance (BFSI)
9.10.3 Healthcare
9.10.4 IT and Telecom
9.10.5 Manufacturing
9.10.6 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 SaaS Based HRM Analysis and Forecast
10.1 Introduction
10.2 Europe SaaS Based HRM 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 SaaS Based HRM Market Size Forecast by Type
10.6.1 Small and Medium Enterprise
10.6.2 Large Enterprise
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 SaaS Based HRM Market Size Forecast by Applications
10.10.1 Banking
10.10.2 Financial Services and Insurance (BFSI)
10.10.3 Healthcare
10.10.4 IT and Telecom
10.10.5 Manufacturing
10.10.6 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 SaaS Based HRM Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific SaaS Based HRM 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 SaaS Based HRM Market Size Forecast by Type
11.6.1 Small and Medium Enterprise
11.6.2 Large Enterprise
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 SaaS Based HRM Market Size Forecast by Applications
11.10.1 Banking
11.10.2 Financial Services and Insurance (BFSI)
11.10.3 Healthcare
11.10.4 IT and Telecom
11.10.5 Manufacturing
11.10.6 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 SaaS Based HRM Analysis and Forecast
12.1 Introduction
12.2 Latin America SaaS Based HRM 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 SaaS Based HRM Market Size Forecast by Type
12.6.1 Small and Medium Enterprise
12.6.2 Large Enterprise
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 SaaS Based HRM Market Size Forecast by Applications
12.10.1 Banking
12.10.2 Financial Services and Insurance (BFSI)
12.10.3 Healthcare
12.10.4 IT and Telecom
12.10.5 Manufacturing
12.10.6 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) SaaS Based HRM Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) SaaS Based HRM 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) SaaS Based HRM Market Size Forecast by Type
13.6.1 Small and Medium Enterprise
13.6.2 Large Enterprise
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) SaaS Based HRM Market Size Forecast by Applications
13.10.1 Banking
13.10.2 Financial Services and Insurance (BFSI)
13.10.3 Healthcare
13.10.4 IT and Telecom
13.10.5 Manufacturing
13.10.6 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 SaaS Based HRM Market: Competitive Dashboard
14.2 Global SaaS Based HRM Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ADP, LLC
14.3.2 IBM Corporation
14.3.3 Oracle (Taleo Corporation)
14.3.4 Persis GmbH
14.3.5 Perbit Software GmbH
14.3.6 Jobvite Inc.
14.3.7 SAP (SuccessFactor, Inc.)
14.3.8 Rexx systems GmbH
14.3.9 SD Worx
14.3.10 The Sage Group plc
