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PUBLISHER: Grand View Research | PRODUCT CODE: 1301247
PUBLISHER: Grand View Research | PRODUCT CODE: 1301247
Human Resource Management Market Size, Share & Trends Analysis Report By Component, By Software, By Service, By Deployment, By Enterprise Size, By End-use, By Region, And Segment Forecasts, 2023 - 2030
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Human Resource Management Market Growth & Trends
The global human resource management market size is expected to reach USD 56.15 billion by 2030, expanding at a CAGR of 12.7% from 2023 to 2030, according to a new report by Grand View Research, Inc. The trend of digitization in Human Resource Management (HRM) for increased efficiency and integration of technologies for analytics, mobile application, and cloud-based deployment is expected to drive the growth of the market. The trend of full-time remote work post pandemic is anticipated to drive the market demand. Moreover, as enterprises are expanding, it is anticipated that they will use HRM for efficient tracking and monitoring of human resources to reduce loss of time on idleness and increase productivity.
Furthermore, most of the buyers of HRM solutions include small & medium enterprises opting for HRM solutions due to the trend of switching from conventional HR activities to software based to aid in strategic decision-making processes. The popularity of HRM solutions is growing as organizations are emphasizing on talent acquisition and workforce planning to address the challenges associated with retaining human capital. Subsequently, large enterprises are exploring for a single solution for all their HR functionalities to integrate all departments and have a centralized control and monitoring function. For instance, in March 2023, Workday, Inc. announced its partnership with EZCORP, a U.S. based key supplier of pawn transactions having operations across the U.S., Canada, and Latin America. In this partnership, EZCORP aims to Automate its financial processes using the Workday Financial Management tool, use the Workday Adaptive Planning solution to make informed and data-driven decisions and leverage the Workday Human Capital Management tool to enhance employee experience.
Additionally, advances in the field of AI, ML, and predictive analytics have resulted in the integration of HRM solutions with analytics. Startups are developing mobile applications and collaboration software that can provide employers and employees the flexibility required to access the information on the go. On the other hand, the use of predictive analytics is expected to increase demand for HRM software as it helps in deriving inferences regarding continuous employee progress through various charts and infographics.
Human Resource Management Market Report Highlights
- Based on component, the software segment accounted for the largest market share of around 70% in 2022 due to growing trend of digitization and analytical based HRM software
- Based on deployment, the on-premise segment accounted for the largest market share of more than 55% in 2022 as a result of the greater control and privacy over enterprise data
- Based on enterprise size, the small and medium enterprise segment is expected to expand at the highest CAGR over the forecast period to improve employee retention and increase workforce efficiency
- Based on geography, North America recorded the highest market share of around 35% in 2022 due to the trend of cloud-based technology in the region and demand for HRM solutions to address payroll, attendance, talent management, and other queries
Product Code: GVR-2-68038-295-2
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market Segmentation & Scope
- 1.2 Market Definitions
- 1.3 Information Procurement
- 1.3.1 Information Analysis
- 1.3.2 Market Formulation & Data Visualization
- 1.3.3 Data Validation & Publishing
- 1.4 Research Scope And Assumptions
- 1.4.1 List To Data Sources
Chapter 2 Executive Summary
- 2.1 HRM Market Snapshot
- 2.2 HRM - Segment Snapshot (1/2)
- 2.3 HRM - Segment Snapshot (2/2)
- 2.4 HRM - Competitive Landscape Snapshot
Chapter 3 HRM Market - Industry Outlook
- 3.1 Market Lineage Outlook
- 3.2 Value Chain Analysis
- 3.3 Market Dynamics
- 3.3.1 Market Driver Analysis
- 3.3.1.1 Strong Emphasis On Hr Process Automation
- 3.3.1.2 Continued Integration Of Big Data Analytics And Mobile Technology In HRM Systems
- 3.3.2 Market Restraint Analysis
- 3.3.2.1 Reluctance Toward Adoption Of New HRM Solution
- 3.3.3 Market Opportunity
- 3.3.4 Market Challenge
- 3.3.5 Covid-19 Impact Analysis
- 3.3.1 Market Driver Analysis
- 3.4 Industry Analysis Tools
- 3.4.1 Porter's Analysis
- 3.4.2 Macroeconomic Analysis
Chapter 4 HRM Market: Component Estimates & Trend Analysis
- 4.1 Component Movement Analysis & Market Share, 2022 & 2030
- 4.2 HRM Market Estimates & Forecast, By Component (USD Million)
- 4.2.1 Software
- 4.2.2 Service
Chapter 5 HRM Market: Software Estimates & Trend Analysis
- 5.1 Software Movement Analysis & Market Share, 2022 & 2030
- 5.2 HRM Market Estimates & Forecast, By Software (USD Million)
- 5.2.1 Core Hr
- 5.2.2 Employee Collaboration And Engagement
- 5.2.3 Recruiting
- 5.2.4 Talent Management
- 5.2.5 Workforce Planning & Analytics
- 5.2.6 Others
Chapter 6 HRM Market: Deployment Estimates & Trend Analysis
- 6.1 Deployment Movement Analysis & Market Share, 2022 & 2030
- 6.2 HRM Market Estimates & Forecast, By Deployment (USD Million)
- 6.2.1 Hosted
- 6.2.2 On-Premise
Chapter 7 HRM Market: Enterprise Size Estimates & Trend Analysis
- 7.1 Enterpise Size Movement Analysis & Market Share, 2022 & 2030
- 7.2 HRM Market Estimates & Forecast, By Enterprise Size (USD Million)
- 7.2.1 Large Enterprise
- 7.2.2 Small & Medium Enterprise
Chapter 8 HRM Market: Service Estimates & Trend Analysis
- 8.1 Service Movement Analysis & Market Share, 2022 & 2030
- 8.2 HRM Market Estimates & Forecast, By Service (USD Million)
- 8.2.1 Integration & Deployment
- 8.2.2 Support & Maintenance
- 8.2.3 Training & Consulting
Chapter 9 HRM Market: End Use Estimates & Trend Analysis
- 9.1 End Use Movement Analysis & Market Share, 2022 & 2030
- 9.2 HRM Market Estimates & Forecast, By End Use (USD Million)
- 9.2.1 Academia
- 9.2.2 BFSI
- 9.2.3 Government
- 9.2.4 Healthcare
- 9.2.5 IT & telecom
- 9.2.6 Manufacturing
- 9.2.7 Retail
- 9.2.8 Others
Chapter 10 Regional Estimates & Trend Analysis
- 10.1 HRM Market: Regional Outlook
- 10.2 North America
- 10.2.1 North America HRM Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 10.2.2 U.S.
- 10.2.2.1 U.S. HRM Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 10.2.3 Canada
- 10.2.3.1 Canada HRM Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 10.3 Europe
- 10.3.1 Europe HRM Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 10.3.2 Germany
- 10.3.2.1 Germany HRM Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 10.3.3 Uk
- 10.3.3.1 Uk HRM Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 10.3.4 France
- 10.3.4.1 France HRM Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 10.4 Asia Pacific
- 10.4.1 Asia Pacific HRM Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 10.4.2 China 10.4.2.1 China HRM Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 10.4.3 India
- 10.4.3.1 India HRM Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 10.4.4 Japan
- 10.4.4.1 Japan HRM Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 10.4.5 Hong Kong
- 10.4.5.1 Hong Kong HRM Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 10.4.6 Australia
- 10.4.6.1 Australia HRM Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 10.4.7 Singapore
- 10.4.7.1 Singapore HRM Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 10.4.8 Thailand
- 10.4.8.1 Thailand HRM Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 10.5 Latin America
- 10.5.1 Latin America HRM Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 10.5.2 Brazil
- 10.5.2.1 Brazil HRM Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 10.5.3 Mexico
- 10.5.3.1 Mexico HRM Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 10.6 Middle East And Africa
- 10.6.1 Middle East And Africa HRM Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 10.6.3 South Africa
- 10.6.2.1 South Africa HRM Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 10.6.2 Saudi Arabia
- 10.6.3.1 Saudi Arabia HRM Market Estimates & Forecasts, 2018 - 2030 (USD Million)
Chapter 11 HRM Market - Competitive Landscape
- 11.1 Key Market Participants
- 11.1.1 Accenture plc
- 11.1.2 ADP, Inc.
- 11.1.3 Cezanne Hr Limited
- 11.1.4 Ceridian HCM
- 11.1.5 International Business Machines (IBM) Corporation
- 11.1.6 Kronos Incorporated
- 11.1.7 Mercer LLC
- 11.1.8 Oracle Corporation
- 11.1.9 PricewaterhouseCoopers International Limited
- 11.1.10 SAP SE
- 11.1.11 CEGID GROUP
- 11.1.12 UKG, Inc.
- 11.1.13 Workday, Inc.
- 11.2 Recent Developments & Impact Analysis
- 11.3 Company Categorization
- 11.4 Participant's Overview
- 11.5 Financial Performance
- 11.6 Product Benchmarking
- 11.7 Company Market Share Analysis, 2022
- 11.8 Company Heat Map Analysis
- 11.9 Strategy Mapping
- 11.9.1 Expansion
- 11.9.2 Collaborations
- 11.9.3 New Product Launches
- 11.9.4 Mergers &
Product Code: GVR-2-68038-295-2
List of Tables
- Table 1 HRM market - Key market driver impact
- Table 2 Key market restraint/challenges impact
- Table 3 Global HRM Market Revenue Estimates and Forecast, By Component, 2018 - 2030 (USD Million)
- Table 4 Global HRM Market Revenue Estimates and Forecast, By Software, 2018 - 2030 (USD Million)
- Table 5 Global HRM Market Revenue Estimates and Forecast, By Service, 2018 - 2030 (USD Million)
- Table 6 Global HRM Market Revenue Estimates and Forecast, By Deployment, 2018 - 2030 (USD Million)
- Table 7 Global HRM Market Revenue Estimates and Forecast, By Enterprise Size, 2018 - 2030 (USD Million)
- Table 8 Global HRM Market Revenue Estimates and Forecast, By End Use, 2018 - 2030 (USD Million)
- Table 9 Recent Developments & Impact Analysis, By Key Market Participants
- Table 10 Company Market Share, 2022
- Table 11 Company Heat Map Analysis
- Table 12 Key Companies undergoing expansions
- Table 13 Key Companies undergoing collaborations.
- Table 14 Key Companies launching new products
List of Figures
- Fig. 1 HRM Market Segmentation
- Fig. 2 Information Procurement
- Fig. 3 Data Analysis Models
- Fig. 4 Market Formulation and Validation
- Fig. 5 Data Validating & Publishing
- Fig. 6 Market Snapshot
- Fig. 7 Segment Snapshot (1/2)
- Fig. 8 Segment Snapshot (2/2)
- Fig. 9 Competitive Landscape Snapshot
- Fig. 10 Industry Value Chain Analysis
- Fig. 11 Market dynamics
- Fig. 12 HRM market: PORTER's Analysis
- Fig. 13 HRM market: PESTEL Analysis
- Fig. 14 HRM Market, by Component: Key Takeaways
- Fig. 15 HRM Market, by Component: Market Share, 2022 & 2030
- Fig. 16 Software market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 17 Services market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 18 HRM Market, by Software: Key Takeaways
- Fig. 19 HRM Market, by Software: Market Share, 2022 & 2030
- Fig. 20 Core HR market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 21 Employee collaboration & engagement market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 22 Recruiting market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 23 Talent management market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 24 Workforce planning & analytics market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 25 Others market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 26 HRM Market, by Service: Key Takeaways
- Fig. 27 HRM Market, by Service: Market Share, 2022 & 2030
- Fig. 28 Integration & deployment market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 29 Support & maintenance market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 30 Training & consulting market estimates & forecasts, 2017 - 2030 (USD Million)
- Fig. 31 HRM Market, by Deployment: Key Takeaways
- Fig. 32 HRM Market, by Deployment: Market Share, 2022 & 2030
- Fig. 33 Hosted market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 34 On-premise market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 35 HRM Market, by Enterprise Size: Key Takeaways
- Fig. 36 HRM Market, by Enterprise Size: Market Share, 2022 & 2030
- Fig. 37 Large enterprise market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 38 Small & medium enterprise market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 39 HRM Market, by End Use: Key Takeaways
- Fig. 40 HRM Market, by End Use: Market Share, 2022 & 2030
- Fig. 41 Academia market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 42 BFSI market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 43 Government market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 44 Healthcare market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 45 IT & telecom market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 46 Manufacturing market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 47 Retail market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 48 Others market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 49 HRM Market Revenue By Region, 2022 & 2030 (USD Million)
- Fig. 50 Regional marketplace: Key takeaways (1/2)
- Fig. 51 North America HRM market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 52 U.S. HRM market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 53 Canada HRM market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 54 Europe HRM market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 55 Germany HRM market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 56 UK HRM market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 57 France HRM market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 58 Asia Pacific HRM market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 59 China HRM market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 60 India HRM market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 61 Japan HRM market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 62 Hong Kong HRM market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 63 Australia HRM market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 64 Singapore HRM market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 65 Thailand HRM market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 66 Latin America HRM market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 67 Brazil HRM market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 68 Mexico HRM market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 69 MEA HRM market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 70 Saudi Arabia HRM market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 71 South Africa HRM market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 72 Company Market Share Analysis, 2022
- Fig. 73 Strategic framework
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