Global Human Resource Software
Market Report
2024
Human Resource Software market size is USD 16258.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 10.00% from 2024 to 2031.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Human Resource Software market size is USD 16258.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 10.00% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Human Resource Software Market Sales Revenue 2024 | $ 16258.2 Million |
Global Human Resource Software Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 10% |
North America Human Resource Software Sales Revenue 2024 | $ 6503.28 Million |
North America Human Resource Software Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 8.2% |
Europe Human Resource Software Sales Revenue 2024 | $ 4877.46 Million |
Europe Human Resource Software Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 8.5% |
Asia Pacific Human Resource Software Sales Revenue 2024 | $ 3739.39 Million |
Asia Pacific Human Resource Software Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 12% |
South America Human Resource Software Sales Revenue 2024 | $ 812.91 Million |
South America Human Resource Software Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 9.4% |
Middle East and Africa Human Resource Software Sales Revenue 2024 | $ 325.16 Million |
Middle East and Africa Human Resource Software Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 9.7% |
Market Split by Type |
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Market Split by Application |
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Market Split by Deployment Mode |
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Market Split by Organization Size |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of Human Resource Software industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Human Resource Software Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The Human Resource Software marketplace encompasses more than a few software solutions designed to streamline and optimize HR procedures inside agencies. These solutions generally include modules for handling tasks such as payroll, benefits administration, recruitment, overall performance management, education, and worker engagement. HR software program pursues the centralization of records, automating habitual duties, and offering insights to guide strategic choice-making. It offers advantages along with advanced efficiency, compliance with rules, improved worker experience, and higher usage of human capital. The marketplace is characterized by a number of vendors presenting both on-premises and cloud-based answers tailored to exclusive business sizes and industries. As corporations prioritize staff management efficiency and digital transformation, the HR software program market keeps evolving and becoming bigger.
Businesses are increasingly prioritizing workforce management performance to enhance productiveness. HR software plays a pivotal role by automating various responsibilities like payroll, blessings administration, and performance control. This automation liberates HR experts from mundane activities, permitting them to concentrate on strategic tasks. By streamlining approaches and lowering manual workload, HR software now not only boosts performance but also enhances general organizational performance. As agencies attempt to stay aggressive in a dynamic marketplace, investing in such technology becomes imperative to optimize aid usage and power sustainable growth.
The adoption of cloud-primarily based HR solutions is surging because of their scalability, affordability, and consumer-pleasant nature. These answers obviate the necessity for agencies to put money into costly hardware and software infrastructure, presenting flexibility and accessibility from any area with a web connection. Moreover, cloud-based HR structures make certain seamless updates and protection, decreasing the load on internal IT groups. This accessibility fosters collaboration among far-off teams and enables green staff management. As groups more and more embody far-flung work and international collaboration, cloud-based HR solutions emerge as fundamental gear for reinforcing agility and streamlining operations, for that reason, riding productiveness and competitive benefit in the current enterprise landscape.
Implementation fees for HR software programs can pose an enormous financial hurdle, in particular for huge companies. Expenses related to software licenses, customization, and integration with existing structures can accumulate hastily, probably straining budgets. Moreover, the desire for vast training and exchange control escalates prices. While the preliminary funding may appear daunting, it's essential to recall the long-term blessings in phrases of performance gains and stepped-forward personnel control. To mitigate the effect of excessive implementation charges, corporations may also explore alternatives such as phased deployment, leveraging cloud-based total solutions with subscription models, or negotiating pricing with companies. Ultimately, strategic making plans and thorough price-gain analysis are crucial to ensure that the funding in HR software aligns with organizational objectives and yields sustainable returns.
The Human Resource Software market experienced first-rate impacts from the COVID-19 pandemic. With the unexpected shift to faraway paintings and the want for superior workforce control equipment, demand for HR software surged. Companies sought answers to facilitate faraway collaboration, tune worker productiveness, and manipulate employee well-being amid unprecedented challenges. Additionally, the pandemic elevated the adoption of cloud-based total HR software programs, as corporations prioritized flexibility and scalability to adapt to swiftly converting situations. However, economic uncertainty led a few corporations to put off or cut back HR software program investments, especially in industries closely affected by the pandemic. Overall, the crisis underscored the significance of robust HR technology infrastructure in navigating disruptions and ensuring enterprise continuity in the face of extraordinarily demanding situations.
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The competitive landscape of the Human Resource Software market is characterized by a diverse range of players competing to gain market share through product innovation, strategic partnerships, and aggressive marketing efforts. Key players in the market include established electronics manufacturers, specialized Human Resource Software companies, and emerging start-ups aiming to disrupt the market with innovative solutions
In June 2022, Workday, Inc. stated that Mohegan had chosen Workday Human Capital Management (HCM) and Workday Financial Management to help it grow globally. With over 10,000 people worldwide, Mohegan is a master developer and operator of premium entertainment resorts. The organization's growth is accelerating as it extends into new markets such as the United States, Canada, and South Korea. Mohegan will use Workday to manage, optimize, and automate business processes, improve planning and reporting to support global expansion, and provide engaging employee experiences by eliminating manual data entry and automating finance and HR functions.
(Source: https://newsroom.workday.com/2022-06-30-News-Brief-Mohegan-Selects-Workday-to-Support-Global-Growth/)
In March 2022, UKG Inc. has announced the acquisition of Ascentis Corporation. Ascentis Corporation offers full-service HR and workforce management solutions, growing from 860 to 4,800 customers over the last five years. As part of the transaction, numerous Ascentis personnel from the United States and Montevideo, Uruguay joined UKG. The acquisition increases UKG's market strength by adding tenured industry expertise. UKG currently employs around 14,000 individuals worldwide.
(Source:https://www.ukg.com/about-us/newsroom/ukg-acquires-ascentis-corporation.)
Top Companies Market Share in Human Resource Software Industry: (In no particular order of Rank)
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According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. North America is witnessing giant growth within the Human Resource Software marketplace. Factors using this expansion encompass the vicinity's huge and diverse commercial enterprise panorama, growing adoption of virtual HR solutions, and the want for a green body of workers' control gear. With a robust emphasis on innovation and era adoption, North American businesses are using the evolution and expansion of the HR software program marketplace in the vicinity.
Europe stands out as the fastest-growing region in the Human Resource Software market due to several compelling reasons. Europe is experiencing an amazing boom in the Human Resource Software market. This enlargement is fueled by using elements along with the vicinity's stringent regulatory environment, increasing recognition of employee well-being and engagement, and growing adoption of cloud-primarily based HR answers. As European groups are seeking to enhance personnel control efficiency and compliance, the demand for modern HR software program solutions keeps increasing, using marketplace growth throughout the continent
The current report Scope analyzes Human Resource Software Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
According to Cognitive Market Research, the global Human Resource Software market size was estimated at USD 16258.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 6503.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031. North America leads the Human Resource Software marketplace with its strong economy and tech-savvy enterprise landscape. Cloud-primarily based HR solutions are especially thriving, driven by using the region's emphasis on innovation and scalability. Large businesses, in particular, are investing heavily in complete HR software program to streamline operations and make certain compliance. With a focus on enhancing personnel productivity and efficiency, North American groups are riding the evolution of HR era. As companies preserve to prioritize virtual transformation and far off work, the Human Resource Software marketplace in North America is poised for sustained increase and innovation.
According to Cognitive Market Research, the global Human Resource Software market size was estimated at USD 16258.2 Million out of which Europe held the market of more than 30% of the global revenue with a market size of USD 4877.46 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.5% from 2024 to 2031. Europe's Human Resource Software market is experiencing terrific increase amidst a landscape characterised by means of stringent regulatory requirements and a focal point on employee nicely-being. Payroll and Compensation Management answers are specifically thriving, as organizations are seeking to automate tactics and make certain compliance. With an emphasis on efficiency and transparency, European corporations are increasingly adopting HR software program to optimize group of workers control. As the vicinity continues to prioritize digitalization and skills retention, the Human Resource Software market in Europe is poised for in addition expansion and innovation to satisfy evolving wishes.
According to Cognitive Market Research, the global Human Resource Software market size was estimated at USD 16258.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 3739.39 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.0% from 2024 to 2031. In Asia Pacific, the Human Resource Software market is witnessing speedy increase driven by the region's dynamic business landscape and increasing adoption of technology. Talent Acquisition and Recruitment answers are in particular flourishing as organizations searching for green approaches to attract and preserve pinnacle talent in competitive markets. With a focal point on scalability and localization to deal with diverse cultures and regulatory frameworks, HR software providers are catering to the unique needs of the location. As agencies throughout Asia Pacific try for virtual transformation and talent optimization, the Human Resource Software marketplace is poised for persisted expansion and innovation.
According to Cognitive Market Research, the global Human Resource Software market size was estimated at USD 16258.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 812.91 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.4% from 2024 to 2031. In Latin America, the Human Resource Software market is gaining momentum amid the vicinity's developing emphasis on digitalization and expertise control. Performance Management solutions are especially thriving as businesses are seeking for gear to enhance worker productivity and engagement. With a focal point on addressing specific regulatory requirements and cultural nuances, HR software program carriers are customizing solutions to satisfy the numerous wishes of Latin American groups. As businesses inside the place increasingly more recognize the significance of powerful team of workers control, the Human Resource Software market in Latin America is poised for large increase and innovation to aid their evolving desires.
According to Cognitive Market Research, the global Human Resource Software market size was estimated at USD 16258.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 325.16 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.7% from 2024 to 2031. In the Middle East and Africa, the Human Resource Software market is on the upward push, driven by means of the location's burgeoning economy and increasing adoption of generation. Talent Management answers are especially thriving as groups are searching for to optimize recruitment, improvement, and retention techniques. With a focus on addressing cultural diversity and compliance with local policies, HR software carriers are tailoring solutions to satisfy the particular wishes of businesses within the area. As businesses inside the Middle East and Africa prioritize talent optimization and digital transformation, the Human Resource Software market is poised for huge growth and innovation to assist their goals.
Global Human Resource Software Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Human Resource Software Industry growth. Human Resource Software market has been segmented with the help of its Type, Application Deployment Mode, and others. Human Resource Software market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, Benefits and Claims Management stands out as the dominating category. The Benefits and Claims Management quarter is rising as a key driving force for the boom in the human resource software marketplace. With a focal point on optimizing employee blessings administration and streamlining claims tactics, this phase gives answers to beautify efficiency, lessen prices, and improve worker pride. As organizations prioritize complete benefits applications and compliance, the demand for specialised software in this location is step by step growing.
Payroll and Compensation Management emerges as the fastest-growing category in the Human Resource Software market. The Payroll and Compensation Management quarter is a sizable catalyst for a boom within the Human Resource Software marketplace. With a focus on automating payroll tactics, managing compensation structures, and ensuring regulatory compliance, this phase offers answers to enhance accuracy, performance, and transparency in payroll management. As groups prioritize effective reimbursement management and payroll accuracy, the demand for specialized software programs in this area continues to expand rapidly.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Human Resource Software Industry. Request a Free Sample PDF!
According to Cognitive Market Research, the dominating category is Government. Government agencies are experiencing an increasing riding increase within the human resource software market. With a focus on improving workforce management performance, enhancing transparency, and making sure compliance with rules, global governments are investing in HR software answers. This technology streamlines procedures along with recruitment, payroll, and overall performance control, enabling government entities to serve employees and residents while optimizing aid allocation and budget control.
The fastest-growing category in the Human Resource Software market is Manufacturing. The manufacturing zone is experiencing an extensive boom inside the Human Resource Software marketplace. Manufacturers are leveraging HR software program answers to streamline personnel control procedures, decorate operational efficiency, and ensure compliance with industry rules. With a focus on optimizing the body of workers' productivity and resource utilization, producers are increasingly investing in HR software programs to cope with demanding situations such as skills acquisition, training, and performance management in an aggressive marketplace landscape.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Human Resource Software market report 2024 Edition by contacting our team.
According to Cognitive Market Research, the dominating category is Cloud-based. The cloud-based totally Human Resource Software (HR) marketplace is witnessing a fast increase due to its scalability, accessibility, and value-effectiveness. Organizations are increasingly more adopting cloud-based totally HR answers to streamline operations, enhance collaboration, and adapt to faraway work environments. With the power to get access to information from anywhere with an internet connection, a cloud-primarily based HR software program provides more suitable agility and efficiency, driving its increase in the HR technology marketplace.
The fastest-growing category in the Human Resource Software market is On-Premises. While cloud-based totally answers dominate, there is nevertheless a boom in the on-premises Human Resource Software market. Certain industries, like healthcare and finance, prioritize records security and compliance, making them opt for on-premises answers. Additionally, some businesses with hooked-up IT infrastructures or precise regulatory requirements opt for on-premises HR software programs. This segment continues to grow as corporations are searching for tailor-made answers to satisfy their unique wishes.
According to Cognitive Market Research, the dominating category is Small and Medium Enterprise. The Small and Medium Enterprise (SME) phase is a substantial driving force behind the boom in the human resource software market. SMEs are increasingly adopting HR software to streamline operations, enhance worker control, and stay competitive in the market. With the supply of scalable and low-priced answers tailor-made to their desires, SMEs are leveraging HR software programs to optimize the body of workers' productiveness, force increase, and improve standard organizational performance.
The fastest-growing category in the Human Resource Software market is Large Enterprise. Large corporations are fueling growth inside the human resource software market by investing in complete solutions to manipulate their complicated personnel needs. These corporations are trying to find strong HR software programs to streamline approaches, enhance worker engagement, and ensure compliance with policies. With a focal point on scalability, integration, and analytics competencies, HR software companies are catering to the evolving demands of massive organizations, riding marketplace expansion in this phase.
Research associate at Cognitive Market Research
Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.
As a research analyst, Swasti brings a unique blend of analytical prowess and strategic thinking to the table. With an expertise in market research analysis, She is adept at dissecting complex problems, extracting meaningful insights, and translating them into actionable recommendations. Her passion lies in leveraging data-driven approaches to guide decision-making and drive organizational success.
I played a central role in market research endeavors and competitive analysis. I have a demonstrated ability to leverage diverse data sources, employing advanced analytics tools to discern patterns and trends. My collaborative approach facilitated effective communication of insights, fostering a culture of data-driven decision-making within the organization. I am committed to continuous professional development, actively seeking opportunities for skill enhancement through workshops, industry conferences, and staying abreast of emerging trends in research methodologies.
Disclaimer:
Type | Benefits and Claims Management, Payroll and Compensation Management, Personnel Management, Learning Management, Pension Management, Compliance Management, Succession Planning |
Application | Government, Manufacturing, Energy and Utilities, Consumer Goods and Retail, Healthcare, Transportation and Logistics, Others |
Deployment Mode | On-Premises, Cloud-based, Web-based |
Organization Size | Small and Medium Enterprise, Large Enterprise |
List of Competitors | Halogen Software Inc., Ultimate Software Group Inc, SumTotal Systems Inc, ADP, Accenture Plc, Workday Inc, SuccessFactors (SAP), Cornerstone OnDemand Inc, Paycom Software Inc, Kronos Incorporated, Kenexa Corporation (IBM), Taleo Corporation (Oracle), Ceridian HCM Inc. |
This chapter will help you gain GLOBAL Market Analysis of Human Resource Software. Further deep in this chapter, you will be able to review Global Human Resource Software Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Human Resource Software Market Trends North America Human Resource Software Technological Road Map North America Human Resource Software Market Drivers North America Human Resource Software Market Restraints North America Human Resource Software Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
You can purchase only the Executive Summary North America Market (2019 vs 2024 vs 2031)
Chapter 3 Europe Market Analysis
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Chapter 4 Asia-Pacific Market Analysis
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Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by Deployment Mode Analysis 2019 -2031
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Chapter 13 Market Split by Organization Size Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Human Resource Software market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Benefits and Claims Management have a significant impact on Human Resource Software market? |
What are the key factors affecting the Benefits and Claims Management and Payroll and Compensation Management of Human Resource Software Market? |
What is the CAGR/Growth Rate of Government during the forecast period? |
By type, which segment accounted for largest share of the global Human Resource Software Market? |
Which region is expected to dominate the global Human Resource Software Market within the forecast period? |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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