The Global Core HR Software Market accounted for USD 6.1 billion in 2016 growing at a CAGR of 8.7% during the forecast period of 2017 to 2024.
Definition of Global Core HR Software Market
The Core HR Software is software which performs all the functions performed by the HR department which includes tasks such as recruitment, employee relations, retention and training. The software stores all the information in a proper database which can extract as and when required.
The growing demand of automation in the HR process, growing cloud deployment among others is boosting the growth of this market where as reluctance to the adoption of core HR software may hinder the growth of this market.
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Years considered for this report:
- Historical Years: 2014-2015
- Base Year: 2016
- Estimated Year: 2017
- Forecast Period: 2017–2024
“Global Core HR Software Market” By Geography, Component (Software, Services),Deployment Type (On-Premises and Cloud), Organization Size (SMEs, Large Enterprises), Vertical (Government, Manufacturing, Energy &Utilities, Consumer Goods &Retail, Healthcare, Transportation &Logistics, Telecom &Information Technology, BFSI)- Industry Trends and Forecast to 2024
Top Market Competitors of Global Core HR Software
- International Business Machine,
- Oracle Corporation,
- Paycom Software,
- SAP SE,
- SumTotal Systems,
- Ultimate Software,
- among others.
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Market Segmentation :
The global core HR software market is segmented on the basis of component into software and services.
The software are further sub segmented into benefits and claims management, payroll and compensation management, learning management, personnel management, pension management, compliance management and succession planning. The services are further sub segmented into integration services, maintenance and support and consulting.
On the basis of deployment type, the global core HR software market is segmented into on-premises and cloud.
By organization size, the global core HR software market is segmented into small &medium enterprises (SMEs), and large enterprises.
By vertical the global core HR software market is segmented into government, manufacturing, energy and utilities, consumer goods and retail, healthcare, transportation and logistics, telecom and information technology and BFSI (Banking, Financial services and Insurance).
On the basis of geography, the global core HR software market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
In 2017, North America is expected to dominate the market.
Major Market Drivers & Restraints:
- Rise In Cloud And Mobile Deployment
- Increase In Automation of HR Processes
- Reluctance To The Adoption of Core HR Software
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