The global human resource management market size is projected to attain USD 30.0 billion by
2025, according to a new report by Grand View Research, Inc., exhibiting a
10.4% CAGR during the forecast period. Increasing need for managing widespread
workforce and growing demand for replacing legacy systems with improved human
capital management platforms are anticipated to fuel market growth.
Technological proliferation in the field of
big data analytics, machine learning, artificial intelligence (AI), and
Internet of Things (IoT) is expected to positively impact the market for Human
Resource Management (HRM). Various solution providers are developing innovative
solutions that integrate upcoming technologies into HR systems for enhanced
organizational performance.
HRM solution providers are focusing on
developing software/solutions that easily integrate with mobile apps, thereby
enabling employees and employers to access information pertaining to time and
attendance, leaves, and performance status from their personal devices.These
features increase transparency across organizational departments and provide
flexibility to managers to access data anytime and anywhere across the globe.
Increased cloud deployment across all
industries is expected to accelerate the demand for HRM solutions over the
forecast period. Use of cloud technology enables various Small & Medium
Enterprises (SMEs) to adopt modern HRM solutions at reasonable prices without
the need to constantly upgrade or replace systems.
Full research report on human resource management market analysis: https://www.grandviewresearch.com/industry-analysis/human-resource-management-hrm-market
Further key findings from the report suggest:
·
The global human resource management market
is expected to register a CAGR of 10.4% over the forecast period, owing to
significant demand for automation of HR processes and need to streamline
business processes
·
Core HR software is projected to expand at
a CAGR of 9.4% from 2017 to 2025, owing to extensive application in managing
employees across the globe
·
The talent management software segment is
anticipated to grow at the fastest pace and register a CAGR of 13.0% over the
forecast period, owing to features such as attracting, recruiting, and
retaining human assets in an organization
·
Post the implementation of HRM software,
organizations require support and maintenance services from vendors. This is
expected to increase the demand for support and maintenance services, enabling
it to register a 13.7% CAGR over the forecast period
·
Demand for hosted deployment is expected to
increase over the forecast period owing to easy integration with other systems,
ease of use, and reduced costs. The segment is anticipated to reach USD 13.8
billion by 2025
·
Demand in Asia Pacific is anticipated to
grow at a significant rate and the market will reach a value of USD 6.5 billion
by 2025, owing to rapid industrialization and digitization initiatives taken by
various governments
·
Major players operating in the HRM market
include SAP SE; ADP, LLC; IBM Corporation; Oracle Corporation; Workday, Inc.;
and Ultimate Software.
View more reports of this category by Grand View Research
at: https://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented the human
resource management market based on software, service, deployment, enterprise
size, end use, and region:
Human Resource Management Software Outlook (Revenue, USD
Million, 2014 - 2025)
·
Core HR
·
Employee Collaboration & Engagement
·
Recruiting
·
Talent Management
·
Workforce Planning & Analytics
·
Others
Human Resource Management Service Outlook (Revenue, USD
Million, 2014 - 2025)
·
Integration & Deployment
·
Support & Maintenance
·
Training & Consulting
Human Resource Management Deployment Outlook (Revenue,
USD Million, 2014 - 2025)
·
Hosted
·
On-premise
Human Resource Management Enterprise Outlook (Revenue,
USD Million, 2014 - 2025)
·
Large Enterprise
·
Small & Medium Enterprise
Human Resource Management End-use Outlook (Revenue, USD
Million, 2014 - 2025)
·
Academia
·
BFSI
·
Government
·
Healthcare
·
IT & Telecom
·
Manufacturing
·
Retail
·
Others
Human Resource Management Regional Outlook (Revenue, USD
Million, 2014 - 2025)
·
North America
o U.S.
o Canada
·
Europe
o Germany
o U.K.
·
Asia Pacific
o Australia
o China
o India
o Japan
·
Latin America
o Brazil
·
Middle East & Africa
Access press release by Grand View
Research: https://www.grandviewresearch.com/press-release/global-human-resource-management-hrm-market
About Grand View Research
Grand View
Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.