According to Market Research Future (MRFR), the global Core HR software market is expected to grow at USD 11 billion with a CAGR of 9% from 2017 to 2023 (forecast period). The report identifies the strengths, opportunities, threats, and future business risks and offers an informative overview of the global market environment with the results of COVID-19.
Core HR software is used to manage employee information that can be easily accessed via a centralized HR database. The HR database generally consists of employee’s personal information, benefits enrolment, and income tax withholding. Core HR software includes employee self-portal, which enables them to edit and view their personal details, which can also be used for lack of tracking of employees.
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The industry giants in the core HR software market are Automatic Data Processing (U.S.), Ceridian HCM, Inc. (U.S.), CoreHR (Ireland), Employwise (India), IBM Corporation (U.S.), Oracle Corporation (U.S.), Paychex, Inc. (U.S.), Paycom Software, Inc. (U.S.), Sap SE (Germany), and Workday, Inc. (U.S.) among others.
The global core HR software market has been segmented on the basis of component, deployment, and vertical.
By component, the global core HR software market has been segmented into software and service. The software segment is further divided into benefits and claim management, payroll and compensation management, personnel management, learning management, pension management, compliance management, and others. The service segment is further divided into integration services, maintenance and support, and consulting services.
By deployment, the global core HR software market has been segmented into the cloud and on-premise.
By vertical, the global core HR software market has been segmented into BFSI, healthcare, transportation, manufacturing, retail, and government. Core HR software is gaining significant traction owing to increasing adoption by all these verticals.
The regional analysis of the global core HR software market is being studied for regions such as Asia Pacific, North America, Europe, and the Rest of the World.
It has been reported that North America is expected to have the largest market share, while Asia Pacific is projected to rise at the fastest pace during the forecast period. The significant growth in North America's core HR software market is due to technological advances and rapid growth in the use of HR software in that region.
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Table of Contents:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
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