Core HR Software Market Size - By Component (Software, Service), Deployment Model (Cloud, On-premises), Organization Size (SMEs, Large Enterprises), End Use, Growth Potential, Reginal Analysis & Global Forecast, 2023

Description

List of Tables

Core HR Software Market size is estimated to expand at over 6.5% from 2023 to 2032 driven by the ongoing advancements for enabling seamless integration with other HR technologies. With numerous organizations prioritizing holistic approaches for facilitating human resource management, the interoperability of core HR software with performance management, payroll and learning management systems is gaining prominence.

Several industry participants are focusing on the development of innovative software and services as businesses are seeking unified solutions to offer end-to-end HR functionalities to meet the evolving needs of modern workforce management, augmenting the industry outlook. For instance, in September 2023, Remote launched a Global HR Platform for organizations with employees in various countries for allowing them to hire remote workers while managing payments and compliance.

The core HR software industry is segmented into components, deployment model, organization size, end-use, and region.

Based on component, the core HR software market size from the services segment is projected to gain significant traction from 2023-2032. The growing focus of businesses on seeking comprehensive solutions for managing their workforce, is spurring the higher need for service offerings, such as implementation, training, and support. Additionally, the growing investments led by organizations on enhancing HR processes and employee experiences will also add to the segment growth.

Core HR software industry size from the IT and telecom end-use segment is expected to witness momentum between 2023 and 2032. Core HR software offers streamlined personnel management, talent acquisition, and performance tracking for addressing the specific needs in the IT & telecom space. With the dynamic workforce and the higher obligation for agile HR processes, IT and telecom companies are further adopting core HR software solutions and services for efficient human capital management.

Regionally, the Asia Pacific core HR software industry is set to record 9.8% CAGR through 2032 due to the dynamic economic landscape and digital transformation initiatives. Several businesses across the region are also prioritizing efficient human resource management, in turn, contributing to the rising demand for core HR software solutions. To that end, the lucrative growth opportunities open to market players will fuel the regional industry growth. For instance, in September 2023, the Ceridian Partner Network, which includes KEDA and Enable Consulting, expanded into Asia to assist organizations in the region in driving HR transformation by delivering full-suite human capital management (HCM) capabilities to provide customers more choices, scales, and premium service to meet their human capital needs.

Product Code: 6729

Chapter 1 Methodology & Scope

1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Core HR software market 360 degree synopsis, 2018 - 2032
2.2 Business trends
- 2.2.1 Total Addressable Market (TAM), 2023-2032
2.3 Regional trends
2.4 Component trends
2.5 Deployment model trends
2.6 Organization size trends
2.7 End-use trends

Chapter 3 Core HR Software Industry Insights

3.1 Impact of COVID-19
3.2 Impact of the Russia-Ukraine war
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
- 3.8.1 Partnership/Collaboration
- 3.8.2 Merger/Acquisition
- 3.8.3 Investment
- 3.8.4 Product launch & innovation
3.9 Regulatory landscape
3.10 Impact forces
- 3.10.1 Growth drivers
  - 3.10.1.1 Rising digital transformation initiatives
  - 3.10.1.2 Rise of remote work accelerated by the COVID-19 pandemic
  - 3.10.1.3 Increasingly complex labor laws and data privacy regulations
  - 3.10.1.4 Growing talent management and employee development
- 3.10.2 Industry pitfalls & challenges
  - 3.10.2.1 Data security and privacy risks
  - 3.10.2.2 Integration challenges
3.11 Growth potential analysis
3.12 Porter's analysis
3.13 PESTEL analysis

Chapter 4 Competitive Landscape, 2022

4.1 Introduction
4.2 Company market share, 2022
4.3 Competitive analysis of major market players, 2022
- 4.3.1 Workday
- 4.3.2 SAP
- 4.3.3 ADP
- 4.3.4 UKG
- 4.3.5 Oracle
- 4.3.6 IBM
- 4.3.7 Paycom
4.4 Competitive positioning matrix, 2022
4.5 Strategic outlook matrix, 2022

Chapter 5 Core HR Software Market Estimates & Forecast, By Component (Revenue)

5.1 Key trends, by component
5.2 Software
- 5.2.1 Employee information management
- 5.2.2 Payroll management
- 5.2.3 Attendance and leave management
- 5.2.4 Employee Self-Service (ESS)
- 5.2.5 Others
5.3 Service

Chapter 6 Core HR Software Market Estimates & Forecast, By Deployment Model (Revenue)

6.1 Key trends, by deployment model
6.2 Cloud
6.3 On-premises

Chapter 7 Core HR Software Market Estimates & Forecast, By Organization Size (Revenue)

7.1 Key trends, by organization size
7.2 SMEs
7.3 Large enterprises

Chapter 8 Core HR Software Market Estimates & Forecast, By End-use (Revenue)

8.1 Key trends, by end-use
8.2 BFSI
8.3 Healthcare & life sciences
8.4 Retail & e-commerce
8.5 Manufacturing
8.6 Telecom & IT
8.7 Government & public sector
8.8 Media & entertainment
8.9 Others

Chapter 9 Core HR Software Market Estimates & Forecast, By Region (Revenue)

9.1 Key trends, by region
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
9.3 Europe
- 9.3.1 Germany
- 9.3.2 UK
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Spain
- 9.3.6 Nordics
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 Australia
- 9.4.5 Singapore
- 9.4.6 Indonesia
9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Argentina
9.6 MEA
- 9.6.1 UAE
- 9.6.2 South Africa
- 9.6.3 Saudi Arabia

Chapter 10 Company Profiles

10.1 ADP
10.2 Ceridian
10.3 Cornerstone OnDemand
10.4 HIBOB
10.5 IBM
10.6 Oracle
10.7 Paycom
10.8 Paylocity
10.9 Personio
10.10 SAP
10.11 Sprout
10.12 UKG
10.13 Visma
10.14 Workday
10.15 Zoho