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Human Resource Management Market Size Report, 2030

Human Resource Management Market Size, Share & Trends Report

Human Resource Management Market Size, Share & Trends Analysis By Component, By Software, By Service, By Deployment, By Enterprise Size, By End-use, By Region, And Segment Forecasts, 2024 - 2030

Report ID: GVR-2-68038-295-2
Number of Report Pages: 185
Format: PDF, Horizon Databook

Historical Range: 2018 - 2021
Forecast Period: 2023 - 2030
Industry: Technology

Market Size & Trends

The global human resource management (HRM) market size was valued at USD 24.25 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 12.7% from 2023 to 2030. The growing implementation of digitization and automation of human resource processes to develop effective and agile approaches is anticipated to add to the demand of the market over the estimated period. The development can also depend on the efforts enterprises are putting into enticing the right pool of applicants, managing resources efficiently and retaining human capital. Enterprises are integrating these developments as these human resource management solutions have potential to enhance and improve the HR operations, thereby driving the market.

U.S. Human Resource Management Market size and growth rate, 2023 - 2030

Moreover, the improvements in modern technologies, such as predictive analytics, Machine Learning (ML), and Artificial Intelligence (AI) are simplifying the incorporation of HRM solutions with analytics. For instance, HRM software and services are deploying AI-powered chatbots to answer regular employee questions regarding pay structure, leave policy, and more. It is anticipated that these modern technologies will be able to complete routine tasks so that HR personnel can increase productivity. Simultaneously, startups are evolving collaboration software and mobile applications that can provide employees and employers with the ease of accessing essential information on the go. This, in turn, is expected to add to the market growth.

Furthermore, the demand for HRM software and services is expected to grow due to the application of predictive analytics as it is helpful in developing inferences regarding incessant employee progress through numerous charts and infographics. HRM solution providers are concentrating on developing and designing advance software solutions with the shifting requirements of clients. The development of such innovative solutions is expected to result in market growth.

In post-COVID-19 pandemic world, remote working and hybrid work is turning out to be the new norm. Thus, market players are focused on providing HRM solutions that are easy and efficient to install and can possibly support the remote working model by investing in R&D activities. Concurrently, due to the adoption of remote work, key market companies, such as SAP SE, Oracle, UKG Inc., and Workday Inc. are improving their HRM solutions in accordance with the upcoming trends and are also offering products over the cloud as part of the efforts to nullify the need for constant system upgrades. All these aspects are estimated to contribute to market growth.

Remote working practices encourage Small and Medium Enterprises (SMEs) to determine modern HRM solutions so that strategic decisions can be made efficiently. The acceptance of HRM solutions among these establishments is increasing in line with the strong emphasis they are putting on workforce planning and talent acquisition to address the challenges allied with retaining human capital and operational efficiency. Additionally, large companies are seeking a single solution to acknowledge all their HR requirements. Key market players, such as ADP, Inc., have now announced robust HRM solutions to satisfy the requirements of large establishments. Workday Inc. is offering combined real-time HR data with immunization statistics in their COVID-19 vaccine management solution, thus providing establishments with the insights and resources needed to assist in ensuring a safer workplace and a healthy workforce.

Market Concentration & Characteristics

The market growth stage is high, and the pace of the market growth is accelerating. The human resource management market is characterized by a high degree of innovation, owing to the growing integration of advanced technologies like Artificial Intelligence (AI), Machine Learning (ML), and data analytics into HR processes. These innovations streamline recruitment, enhance employee engagement, and optimize talent management.

Human Resource Management Market Concentration & Characteristics

The HRM market is also characterized by a high level of merger and acquisition (M&A) activities by the leading market players. M&A in this industry often aim to enhance technological capabilities, broaden service portfolios, and capture a larger market share.These relations enable organizations to stay competitive in a rapidly evolving HR landscape, where technology, talent management, and employee engagement play pivotal roles.

The Human Resource Management (HRM) market is subject to increasing regulatory scrutiny. HRM solution providers have to follow all federal, state, and local laws that pertain to employment laws. Compliance requirements, such as those related to data protection and labor laws, impact HR processes, necessitating robust systems to ensure adherence. These regulations could have a significant impact on the HRM market, affecting the development and adoption of the technology.

The threat of substitutes in the HRM market is limited. This is attributed to the specialized nature of HR services, which encompass diverse functions such as recruitment, employee engagement, and talent management. Businesses rely heavily on tailored HR solutions to address their unique workforce needs. Moreover, the complexity of HR processes and the need for expertise in navigating employment regulations create barriers for easily substitutable alternatives.

The end-user concentration in the HRM market is diverse, with organizations of varying sizes adopting HR solutions. Small and medium enterprises (SMEs) often seek cost-effective and scalable solutions, while large enterprises may require more complex and customizable HR platforms. Furthermore, industry-specific needs contribute to a wide array of end-users, ranging from healthcare and finance to technology. As businesses increasingly recognize the importance of efficient workforce management, the end-user landscape in the HRM market is expected to evolve in the coming years.

Component Insights

The software segment accounted for a major revenue share in 2022. This growth can be credited to the high demand for talent management and core HR software from companies of various industries for retaining workforces. Talent management and core HR software can also help in improving workflows and subsequently refining the overall organizational productivity. Core HR solutions primarily helps management in making strategic decisions by minimizing the load of performing traditional HR duties. For instance, in February 2023, The Amenity Collective, a lifestyle services and hospitality company, deployed Workday Human Capital Management (HCM), Workday Payroll, Workday Financial Management, and Workday Learning solutions developed by Workday, Inc. to break down data silos and drive efficiencies, revving its business transformation.

Commonly, companies have trusted on manual operations for HR compliance and employee engagement, thereby hampering efficient resource management. However, HRM software solutions can address these problems by digitalizing all the manual operations. Additionally, HRM software solutions are centrally manageable and can be supervised by managers to assess and reward employees, even in a remote working model. HRM software not only enhances productivity by automating manual tasks and diminishes the error rate but also helps in assessing the operational trends within the company.

Software Insights

The core HR segment is anticipated to account for largest market share in 2022 with a revenue. The increased need for automating various HR operations in the department is in control for the major revenue share. Payroll administration, attendance and time management, and HR compliance are the main features of core HR software. Some of the functions that are driving the acceptance of core HR software around the world are flexibility and simple access to data.

The talent management segment is estimated to witness the fastest CAGR from 2023 to 2030. Talent management software helps HR professionals in aligning the talent acquisition and planning activities and making calculated decisions with the company’s goals, thus improving the overall organizational performance. The software also has a number of features that can assist in inviting, hiring, and retaining people that are regarded as valuable additions to the company. The growing use of video platforms and social media platforms for recruiting is also providing growth to the segment.

Service Insights

Based on service, integration and deployment segment accounted for notable revenue share in 2022. The leading revenue share can be credited to the increased need to resolve he technical issues while implementing an HRM system, troubleshooting and updating software intermittently. The majority of businesses opt for deployment and integration services to install software and integrate it with existing systems across several departments. These services allow establishments to access and visualize data, and ultimately use it in the decision-making processes. The rising organizational demand to improve the competence of the existing systems, shifting towards automation and adoption of cloud computing are some of the important aspects that are driving the development of the market.

The support and maintenance segment is estimated to record the fastest CAGR from 2023 to 2030. The continuous advancements in technology are demanding continuous advancements to the HR system that uphold data. Thus, HRM solutions are also required to be updated regularly in line with the developments in technology and companies need strong vendor support for troubleshooting and technical problems. This, in turn, is driving the growth of the segment.

Deployment Insights

Based on deployment, on-premise segment dominated the market in 2022. During the early stages of implementing HR software to substitute manual activities, on-premise solutions were the most practical alternative. On-premise HR solutions were preferred by certain firms since they do not need internet connectivity but yet allow for extensive customization of the system. On-premise solutions also provide data security while helping establishments in fulfilling several regulations.

The demand for hosted deployment is expected to rise considerably over the estimated period. Cloud or hosted deployment allows users to access data from any location effortlessly. It also reduces the need for constant software upgrades. Hosted solutions also offer benefits and convenience, such as low operational manpower requirement, rapid integration, and reduced maintenance. Some HRM solution providers, such as Oracle, SAP SE, ADP, Inc., and IBM, have now started offering their services on the cloud.

Enterprise Size Insights

Large enterprise segment dominated the global human resource management market in 2022. The dominant revenue share can be credited to the aggressive implementation of HRM solutions by some large organizations to manage their enormous databases of employees efficiently. These solutions enable HR personnel to quickly access employee data, decreasing the time spent on manual duties such as performance goal tracking, feedback, and reviews. These technologies assist businesses to handle massive personnel databases and provide secure, real-time access to employee information throughout the globe.

The SME segment is estimated to register the highest CAGR over the forecast period. Several SMEs are adopting HR solutions to decrease the burdens of carrying out administrative tasks and instead focus on administrative growth. SMEs are particularly estimated to implement cloud-based Human Capital Management (HCM) solutions due to the cost benefits offered by cloud-based solutions.

End-use Insights

IT & telecom category, based on end-use segment, achieved the highest revenue share in 2022. End-users of HRM solutions comprise government agencies as well as several other institutions operating in various industries and industry verticals, including Banking, Financial Services, and Insurance (BFSI), education, healthcare, manufacturing, IT & telecom, retail, media & entertainment, and others. The large revenue share can be ascribed to the growing demand for system automation and the requirement to source candidates based on job profiles and organizational structure throughout the IT industry.

Talent recognition, learning, and employee engagement is one of the crucial part for growth of organization. Constant organizational growth is known to make workforce management more difficult. All of these factors point to an increase in demand for human resource management software solutions and services. This demand is expected to arise across a variety of businesses and verticals due to the ongoing trend of digitization.

HRM software and services are in high demand in the retail business due to the increasing need to match internal consumer expectations and overcome obstacles in employee retention processes. The rapid growth of the retail industry has encouraged large-scale recruiting at all levels, as well as the need to retain employees by providing better career routes, perks, and job roles. Many establishments functioning in the retail industry are adopting HRM solutions to modernize these functions.

Regional Insights

North America dominated the market in 2022 with a revenue share of over 34.0%. North America is home to numerous HRM solution providers. Establishments in the U.S. are particularly concentrating on increasing productivity and labor efficiency by deploying HRM solutions for payroll management, attendance & time tracking, and talent management, among other processes. North America has adopted cloud-native technologies excessively and has continuously been an early adopter of modern technologies.

Human Resource Management Market Trends by Region, 2023 - 2030

Asia Pacific is anticipated to witness the fastest CAGR from 2023 to 2030 due to the investments being made by governments and the initiatives being pursued in the region in digitization. Furthermore, the regional market will be driven by the increasing number of automation initiatives being conducted to improve organizational productivity. The presence of a skilled and large work force is also estimated to drive the demand for recruitment and talent management software in the region as enterprises look to hire perfect people that fill empty roles. The unaggressive investments in the deployment of new technologies bode well for the regional market's growth.

Recent Developments

In October 2023, ADP, Inc. announced the launch of specialized ADP Workforce Now software designed for the construction sector. This software ensures precise payroll processing, efficient HR management, and improved recruitment and development of workers within the construction industry.
In October 2023, EY collaborated with IBM to launch EY.ai Workforce, an advanced HR solution facilitating organizations in seamlessly incorporating AI into their key HR business processes. This development signifies a crucial progression in the ongoing partnership between the two companies, representing a significant achievement in leveraging AI to enhance productivity within the HR function.
In October 2023, Oracle introduced generative AI-powered features to enhance Oracle Fusion Cloud Human Capital Management (HCM). Utilizing the Oracle Cloud Infrastructure (OCI) generative AI service, these new capabilities seamlessly integrate into existing HR processes to accelerate business value, boost productivity, elevate both candidate and employee experiences, and streamline overall HR operations.
In September 2023, Accenture and Workday, Inc. announced the expansion of their partnership to empower organizations to transform their finance functions to be more data-driven, agile, and customer-centric.The collaboration aim to create a set of composable, data-centric finance solutions that can be configured and reconfigured to assist clients in the software and technology, retail, and media sectors to better adapt to evolving business needs and enhance their responsiveness in the dynamic market landscape.
In September 2023, Workday, Inc. introduced a range of new features in its Workday Human Capital Management (HCM) software, designed to streamline and enhance the managerial experience. These additions assists managers by providing them with the necessary tools to lead with efficiency and effectiveness, aiming to simplify their responsibilities within the human resources realm.

Key Human Resource Management Companies:

Accenture
ADP, Inc.
Cegid
Ceridian HCM Holding, Inc.
Cezanne HR
IBM
Mercer LLC
Oracle
PwC
SAP SE
UKG, Inc.
Workday, Inc.

Human Resource Management Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 24.25 billion
Revenue forecast in 2030	USD 56.15 billion
Growth rate	CAGR of 12.7% from 2023 to 2030
Actual data	2018 - 2023
Forecast period	2024 - 2030
Quantitative units	Revenue in USD billion and CAGR from 2023 to 2030
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered	Component, Software, Service, Deployment, Enterprise Size, End-use, Region
Regional scope	North America, Europe, Asia Pacific, Latin America, MEA
Country scope	U.S.; Canada; Germany; U.K.; France; Italy; Spain; China; India; Japan; South Korea; Australia; Singapore; Thailand; Hong Kong; Brazil; Mexico; South Africa; Saudi Arabia
Key companies profiled	Accenture; ADP, Inc.; Cezanne HR; Ceridian HCM Holding, Inc.; IBM; Mercer LLC; Oracle; PwC; SAP SE; Cegid; UKG Inc.; Workday, Inc.
Customization scope	Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options

Global Human Resource Management Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global human resource management market report based on component, software, service, deployment, enterprise size, end-use, and region:

Component Outlook (Revenue, USD Billion, 2018 - 2030)
- Software
- Service
Software Outlook (Revenue, USD Billion, 2018 - 2030)
- Core HR
- Employee Collaboration & Engagement
- Recruitment and Applicant Tracking
- Talent Management
- Learning Management
- Workforce Planning & Analytics
- Others
Service Outlook (Revenue, USD Billion, 2018 - 2030)
- Integration & Deployment
- Support & Maintenance
- Training & Consulting
Deployment Outlook (Revenue, USD Billion, 2018 - 2030)
- Hosted
- On-premise
Enterprise Size Outlook (Revenue, USD Billion, 2018 - 2030)
- Large Enterprise
- Small & Medium Enterprise (SME)
End-use Outlook (Revenue, USD Billion, 2018 - 2030)
- Education
- Banking, Financial Services, and Insurance (BFSI)
- Government
- Healthcare
- IT & telecom
- Manufacturing
- Retail
- Others
Regional Outlook (Revenue, USD Billion, 2018 - 2030)
- North America
  - U.S.
  - Canada
- Europe
  - Germany
  - U.K.
  - France
  - Italy
  - Spain
- Asia Pacific
  - China
  - Japan
  - India
  - South Korea
  - Australia
  - Singapore
  - Thailand
  - Hong Kong
- Latin America
  - Brazil
  - Mexico
- Middle East and Africa (MEA)
  - Saudi Arabia
  - South Africa

Frequently Asked Questions About This Report

How big is the human resource management market?

b. The global human resource management market size was estimated at USD 21.69 billion in 2022 and is expected to reach USD 24.25 billion in 2023.

What is the human resource management market growth?

b. The global human resource management market is expected to grow at a compound annual growth rate of 12.7% from 2023 to 2030 to reach USD 56.15 billion by 2030.

Which segment accounted for the largest human resource management market share?

b. North America dominated the human resource management market in 2022 with a revenue share of over 34.5%.

Who are the key companies/players in the human resource management market?

b. Some key players operating in the HRM market include Accenture PLC, Automatic Data Processing (ADP), Inc., Cezanne HR Ltd., Ceridian HCM, Inc., IBM Corporation, Kronos Incorporated, Mercer LLC, NetSuite, Inc., Oracle Corporation, SAP SE, Talentsoft, Ultimate Software, and Workday, Inc.

What are the factors driving the human resource management market?

b. Key factors that are driving the HRM market growth include advancements in the field of Information Technology (IT) coupled with the introduction of predictive analytics in the field of HR processes. Furthermore, it is helping in retaining human capital, aligning organizational strategies with individual goals, and managing human resources in a manner that results in organizational growth.

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Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation and Scope
1.2. Market Definitions
1.3. Research Methodology
1.3.1. Information Procurement
1.3.2. Information or Data Analysis
1.3.3. Market Formulation & Data Visualization
1.3.4. Data Validation & Publishing
1.4. Research Scope and Assumptions
1.4.1. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook (1/3)
2.3. Segment Outlook (2/3)
2.4. Segment Outlook (3/3)
2.5. Competitive Insights
Chapter 3. Human Resource Management Market Variables, Trends, & Scope
3.1. Market Introduction/Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market Drivers 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 Restraints Analysis
3.3.2.1. Reluctance Toward Adoption Of New HRM Solution
3.3.3. Market Opportunity
3.3.4. Market Challenge
3.4. Human Resource Management Market Analysis Tools
3.4.1. Porter’s Analysis
3.4.1.1. Bargaining power of the suppliers
3.4.1.2. Bargaining power of the buyers
3.4.1.3. Threats of substitution
3.4.1.4. Threats from new entrants
3.4.1.5. Competitive rivalry
3.4.2. PESTEL Analysis
3.4.2.1. Political landscape
3.4.2.2. Economic and Social landscape
3.4.2.3. Technological landscape
3.4.2.4. Environmental landscape
3.4.2.5. Legal landscape
3.5. Human Resource Management Market - Covid-19 Impact Analysis
Chapter 4. Human Resource Management Market: Component Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. Human Resource Management Market: Component Movement Analysis, USD Billion, 2023 & 2030
4.3. Software
4.3.1. Software Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
4.4. Service
4.4.1. Service Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 5. Human Resource Management Market: Software Estimates & Trend Analysis
5.1. Segment Dashboard
5.2. Human Resource Management Market: Software Movement Analysis, USD Billion, 2023 & 2030
5.3. Core HR
5.3.1. Core HR Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
5.4. Employee Collaboration & Engagement
5.4.1. Employee Collaboration & Engagement Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
5.5. Recruitment and Applicant Tracking
5.5.1. Recruitment and Applicant Tracking Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
5.6. Talent Management
5.6.1. Talent Management Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
5.7. Learning Management
5.7.1. Learning Management Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
5.8. Workforce Planning & Analytics
5.8.1. Workforce Planning & Analytics Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
5.9. Others
5.9.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 6. Human Resource Management Market: Service Estimates & Trend Analysis
6.1. Segment Dashboard
6.2. Human Resource Management Market: Service Movement Analysis, USD Billion, 2023 & 2030
6.3. Integration & Deployment
6.3.1. Integration & Deployment Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
6.4. Support & Maintenance
6.4.1. Support & Maintenance Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
6.5. Training & Consulting
6.5.1. Training & Consulting Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 7. Human Resource Management Market: Deployment Estimates & Trend Analysis
7.1. Segment Dashboard
7.2. Human Resource Management Market: Deployment Movement Analysis, USD Billion, 2023 & 2030
7.3. Hosted
7.3.1. Hosted Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
7.4. On-premise
7.4.1. On-premise Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 8. Human Resource Management Market: Enterprise Size Estimates & Trend Analysis
8.1. Segment Dashboard
8.2. Human Resource Management Market: Enterprise Size Movement Analysis, USD Billion, 2023 & 2030
8.3. Large Enterprise
8.3.1. Large Enterprise Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
8.4. Small & Medium Enterprise (SME)
8.4.1. Small & Medium Enterprise (SME) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 9. Human Resource Management Market: End-use Estimates & Trend Analysis
9.1. Segment Dashboard
9.2. Human Resource Management Market: End-use Movement Analysis, USD Billion, 2023 & 2030
9.3. Education
9.3.1. Education Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
9.4. Banking, Financial Services, and Insurance (BFSI)
9.4.1. Banking, Financial Services, and Insurance (BFSI) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
9.5. Government
9.5.1. Government Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
9.6. Healthcare
9.6.1. Healthcare Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
9.7. IT & Telecom
9.7.1. IT & Telecom Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
9.8. Manufacturing
9.8.1. Manufacturing Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
9.9. Retail
9.9.1. Retail Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
9.10. Others
9.10.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 10. Human Resource Management Market: Regional Estimates & Trend Analysis
10.1. Human Resource Management Market Share, By Region, 2023 & 2030, USD Billion
10.2. North America
10.2.1. North America Human Resource Management Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
10.2.2. U.S.
10.2.2.1. U.S. Human Resource Management Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
10.2.3. Canada
10.2.3.1. Canada Human Resource Management Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
10.3. Europe
10.3.1. Europe Human Resource Management Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
10.3.2. U.K.
10.3.2.1. U.K. Human Resource Management Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
10.3.3. Germany
10.3.3.1. Germany Human Resource Management Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
10.3.4. France
10.3.4.1. France Human Resource Management Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
10.4. Asia Pacific
10.4.1. Asia Pacific Human Resource Management Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
10.4.2. China
10.4.2.1. China Human Resource Management Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
10.4.3. Japan
10.4.3.1. Japan Human Resource Management Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
10.4.4. India
10.4.4.1. India Human Resource Management Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
10.4.5. Australia
10.4.5.1. Australia Human Resource Management Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
10.4.6. Singapore
10.4.6.1. Singapore Human Resource Management Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
10.4.7. Thailand
10.4.7.1. Thailand Human Resource Management Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
10.4.8. Hong Kong
10.4.8.1. Hong Kong Human Resource Management Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
10.5. Latin America
10.5.1. Latin America Human Resource Management Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
10.5.2. Brazil
10.5.2.1. Brazil Human Resource Management Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
10.5.3. Mexico
10.5.3.1. Mexico Human Resource Management Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
10.6. Middle East and Africa
10.6.1. Middle East and Africa Human Resource Management Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
10.6.2. Saudi Arabia
10.6.2.1. Saudi Arabia Human Resource Management Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
10.6.3. South Africa
10.6.3.1. South Africa Human Resource Management Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 11. Competitive Landscape
11.1. Recent Developments & Impact Analysis by Key Market Participants
11.2. Company Categorization
11.3. Company Market Positioning
11.4. Company Market Share Analysis
11.5. Company Heat Map Analysis
11.6. Strategy Mapping
11.6.1. Expansion
11.6.2. Mergers & Acquisition
11.6.3. Partnerships & Collaborations
11.6.4. New Product Launches
11.6.5. Research And Development
11.7. Company Profiles
11.7.1. Accenture plc
11.7.1.1. Participant’s Overview
11.7.1.2. Financial Performance
11.7.1.3. Product Benchmarking
11.7.1.4. Recent Developments
11.7.2. ADP, Inc.
11.7.2.1. Participant’s Overview
11.7.2.2. Financial Performance
11.7.2.3. Product Benchmarking
11.7.2.4. Recent Developments
11.7.3. Cezanne HR
11.7.3.1. Participant’s Overview
11.7.3.2. Financial Performance
11.7.3.3. Product Benchmarking
11.7.3.4. Recent Developments
11.7.4. Ceridian HCM
11.7.4.1. Participant’s Overview
11.7.4.2. Financial Performance
11.7.4.3. Product Benchmarking
11.7.4.4. Recent Developments
11.7.5. International Business Machines (IBM) Corporation
11.7.5.1. Participant’s Overview
11.7.5.2. Financial Performance
11.7.5.3. Product Benchmarking
11.7.5.4. Recent Developments
11.7.6. Mercer LLC
11.7.6.1. Participant’s Overview
11.7.6.2. Financial Performance
11.7.6.3. Product Benchmarking
11.7.6.4. Recent Developments
11.7.7. Oracle
11.7.7.1. Participant’s Overview
11.7.7.2. Financial Performance
11.7.7.3. Product Benchmarking
11.7.7.4. Recent Developments
11.7.8. PricewaterhouseCoopers International Limited
11.7.8.1. Participant’s Overview
11.7.8.2. Financial Performance
11.7.8.3. Product Benchmarking
11.7.8.4. Recent Developments
11.7.9. SAP SE
11.7.9.1. Participant’s Overview
11.7.9.2. Financial Performance
11.7.9.3. Product Benchmarking
11.7.9.4. Recent Developments
11.7.10. CEGID GROUP
11.7.10.1. Participant’s Overview
11.7.10.2. Financial Performance
11.7.10.3. Product Benchmarking
11.7.10.4. Recent Developments
11.7.11. UKG, Inc.
11.7.11.1. Participant’s Overview
11.7.11.2. Financial Performance
11.7.11.3. Product Benchmarking
11.7.11.4. Recent Developments
11.7.12. Workday, Inc.
11.7.12.1. Participant’s Overview
11.7.12.2. Financial Performance
11.7.12.3. Product Benchmarking
11.7.12.4. Recent Developments

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, 2023
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, 2023 & 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, 2023 & 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 Recruitment and applicant tracking market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 23 Talent management market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 24 Learning Management market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 25 Workforce planning & analytics market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 26 Others market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 27 HRM Market, by Service: Key Takeaways
Fig. 28 HRM Market, by Service: Market Share, 2023 & 2030
Fig. 29 Integration & deployment market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 30 Support & maintenance market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 31 Training & consulting market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 32 HRM Market, by Deployment: Key Takeaways
Fig. 33 HRM Market, by Deployment: Market Share, 2023 & 2030
Fig. 34 Hosted market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 35 On-premise market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 36 HRM Market, by Enterprise Size: Key Takeaways
Fig. 37 HRM Market, by Enterprise Size: Market Share, 2023 & 2030
Fig. 38 Large enterprise market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 39 Small & medium enterprise market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 40 HRM Market, by End Use: Key Takeaways
Fig. 41 HRM Market, by End Use: Market Share, 2023 & 2030
Fig. 42 Education market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 43 Banking, Financial Services, and Insurance (BFSI) market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 44 Government market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 45 Healthcare market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 46 IT & telecom market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 47 Manufacturing market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 48 Retail market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 49 Others market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 50 HRM Market Revenue By Region, 2023 & 2030 (USD Million)
Fig. 51 Regional marketplace: Key takeaways (1/2)
Fig. 52 North America HRM market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 53 U.S. HRM market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 54 Canada HRM market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 55 Europe HRM market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 56 Germany HRM market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 57 UK HRM market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 58 France HRM market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 59 Italy HRM market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 60 Spain HRM market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 61 Asia Pacific HRM market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 62 China HRM market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 63 India HRM market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 64 Japan HRM market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 65 Hong Kong HRM market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 66 Australia HRM market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 67 Singapore HRM market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 68 Thailand HRM market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 69 South Korea HRM market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 70 Latin America HRM market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 71 Brazil HRM market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 72 Mexico HRM market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 73 MEA HRM market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 74 Saudi Arabia HRM market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 75 South Africa HRM market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 76 Company Market Share Analysis, 2023
Fig. 77 Strategic framework

Market Segmentation

Human Resource Management Component Outlook (Revenue, USD Billion, 2018 - 2030)
- Software
- Service
Human Resource Management Software Outlook (Revenue, USD Billion, 2018 - 2030)
- Core HR
- Employee Collaboration and Engagement
- Recruitment and Applicant Tracking
- Talent Management
- Learning Management
- Workforce Planning & Analytics
- Others
Human Resource Management Service Outlook (Revenue, USD Billion, 2018 - 2030)
- Integration & Deployment
- Support & Maintenance
- Training & Consulting
Human Resource Management Deployment Outlook (Revenue, USD Billion, 2018 - 2030)
- Hosted
- On-premise
Human Resource Management Enterprise Size Outlook (Revenue, USD Billion, 2018 - 2030)
- Large Enterprise
- Small & Medium Enterprise (SME)
Human Resource Management End-Use Outlook (Revenue, USD Billion, 2018 - 2030)
- Education
- Banking, Financial Services, And Insurance (BFSI)
- Government
- Healthcare
- IT & Telecom
- Manufacturing
- Retail
- Others
Human Resource Management Regional Outlook (Revenue, USD Billion, 2018 - 2030)
- North America
  - North America Human Resource Management Market, By Component
    - Software
    - Service
  - North America Human Resource Management Market, By Software
    - Core HR
    - Employee Collaboration And Engagement
    - Recruitment And Applicant Tracking
    - Talent Management
    - Learning Management
    - Workforce Planning & Analytics
    - Others
  - North America Human Resource Management Market, By Service
    - Integration & Deployment
    - Support & Maintenance
    - Training & Consulting
  - North America Human Resource Management Market, By Deployment
    - Hosted
    - On-Premise
  - North America Human Resource Management Market, By Enterprise Size
    - Large Enterprise
    - Small & Medium Enterprise (SME)
  - North America Human Resource Management Market, By End-Use
    - Education
    - Banking, Financial Services, And Insurance (BFSI)
    - Government
    - Healthcare
    - IT & Telecom
    - Manufacturing
    - Retail
    - Others
  - U.S.
    - U.S. Human Resource Management Market, By Component
      - Software
      - Service
    - U.S. Human Resource Management Market, By Software
      - Core HR
      - Employee Collaboration And Engagement
      - Recruitment And Applicant Tracking
      - Talent Management
      - Learning Management
      - Workforce Planning & Analytics
      - Others
    - U.S. Human Resource Management Market, By Service
      - Integration & Deployment
      - Support & Maintenance
      - Training & Consulting
    - U.S. Human Resource Management Market, By Deployment
      - Hosted
      - On-Premise
    - U.S. Human Resource Management Market, By Enterprise Size
      - Large Enterprise
      - Small & Medium Enterprise (SME)
    - U.S. Human Resource Management Market, By End-Use
      - Education
      - Banking, Financial Services, And Insurance (BFSI)
      - Government
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Retail
      - Others
  - Canada
    - Canada Human Resource Management Market, By Component
      - Software
      - Service
    - Canada Human Resource Management Market, By Software
      - Core HR
      - Employee Collaboration And Engagement
      - Recruitment And Applicant Tracking
      - Talent Management
      - Learning Management
      - Workforce Planning & Analytics
      - Others
    - Canada Human Resource Management Market, By Service
      - Integration & Deployment
      - Support & Maintenance
      - Training & Consulting
    - Canada Human Resource Management Market, By Deployment
      - Hosted
      - On-Premise
    - Canada Human Resource Management Market, By Enterprise Size
      - Large Enterprise
      - Small & Medium Enterprise (SME)
    - Canada Human Resource Management Market, By End-Use
      - Education
      - Banking, Financial Services, And Insurance (BFSI)
      - Government
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Retail
      - Others
- Europe
  - Europe Human Resource Management Market, By Component
    - Software
    - Service
  - Europe Human Resource Management Market, By Software
    - Core HR
    - Employee Collaboration And Engagement
    - Recruitment And Applicant Tracking
    - Talent Management
    - Learning Management
    - Workforce Planning & Analytics
    - Others
  - Europe Human Resource Management Market, By Service
    - Integration & Deployment
    - Support & Maintenance
    - Training & Consulting
  - Europe Human Resource Management Market, By Deployment
    - Hosted
    - On-Premise
  - Europe Human Resource Management Market, By Enterprise Size
    - Large Enterprise
    - Small & Medium Enterprise (SME)
  - Europe Human Resource Management Market, By End-Use
    - Education
    - Banking, Financial Services, And Insurance (BFSI)
    - Government
    - Healthcare
    - IT & Telecom
    - Manufacturing
    - Retail
    - Others
  - U.K.
    - U.K. Human Resource Management Market, By Component
      - Software
      - Service
    - U.K. Human Resource Management Market, By Software
      - Core HR
      - Employee Collaboration And Engagement
      - Recruitment And Applicant Tracking
      - Talent Management
      - Learning Management
      - Workforce Planning & Analytics
      - Others
    - U.K. Human Resource Management Market, By Service
      - Integration & Deployment
      - Support & Maintenance
      - Training & Consulting
    - U.K. Human Resource Management Market, By Deployment
      - Hosted
      - On-Premise
    - U.K. Human Resource Management Market, By Enterprise Size
      - Large Enterprise
      - Small & Medium Enterprise (SME)
    - U.K. Human Resource Management Market, By End-Use
      - Education
      - Banking, Financial Services, And Insurance (BFSI)
      - Government
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Retail
      - Others
  - Germany
    - Germany Human Resource Management Market, By Component
      - Software
      - Service
    - Germany Human Resource Management Market, By Software
      - Core HR
      - Employee Collaboration And Engagement
      - Recruitment And Applicant Tracking
      - Talent Management
      - Learning Management
      - Workforce Planning & Analytics
      - Others
    - Germany Human Resource Management Market, By Service
      - Integration & Deployment
      - Support & Maintenance
      - Training & Consulting
    - Germany Human Resource Management Market, By Deployment
      - Hosted
      - On-Premise
    - Germany Human Resource Management Market, By Enterprise Size
      - Large Enterprise
      - Small & Medium Enterprise (SME)
    - Germany Human Resource Management Market, By End-Use
      - Education
      - Banking, Financial Services, And Insurance (BFSI)
      - Government
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Retail
      - Others
  - France
    - France Human Resource Management Market, By Component
      - Software
      - Service
    - France Human Resource Management Market, By Software
      - Core HR
      - Employee Collaboration And Engagement
      - Recruitment And Applicant Tracking
      - Talent Management
      - Learning Management
      - Workforce Planning & Analytics
      - Others
    - France Human Resource Management Market, By Service
      - Integration & Deployment
      - Support & Maintenance
      - Training & Consulting
    - France Human Resource Management Market, By Deployment
      - Hosted
      - On-Premise
    - France Human Resource Management Market, By Enterprise Size
      - Large Enterprise
      - Small & Medium Enterprise (SME)
    - France Human Resource Management Market, By End-Use
      - Education
      - Banking, Financial Services, And Insurance (BFSI)
      - Government
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Retail
      - Others
  - Italy
    - Italy Human Resource Management Market, By Component
      - Software
      - Service
    - Italy Human Resource Management Market, By Software
      - Core HR
      - Employee Collaboration And Engagement
      - Recruitment And Applicant Tracking
      - Talent Management
      - Learning Management
      - Workforce Planning & Analytics
      - Others
    - Italy Human Resource Management Market, By Service
      - Integration & Deployment
      - Support & Maintenance
      - Training & Consulting
    - Italy Human Resource Management Market, By Deployment
      - Hosted
      - On-Premise
    - Italy Human Resource Management Market, By Enterprise Size
      - Large Enterprise
      - Small & Medium Enterprise (SME)
    - Italy Human Resource Management Market, By End-Use
      - Education
      - Banking, Financial Services, And Insurance (BFSI)
      - Government
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Retail
      - Others
  - Spain
    - Spain Human Resource Management Market, By Component
      - Software
      - Service
    - Spain Human Resource Management Market, By Software
      - Core HR
      - Employee Collaboration And Engagement
      - Recruitment And Applicant Tracking
      - Talent Management
      - Learning Management
      - Workforce Planning & Analytics
      - Others
    - Spain Human Resource Management Market, By Service
      - Integration & Deployment
      - Support & Maintenance
      - Training & Consulting
    - Spain Human Resource Management Market, By Deployment
      - Hosted
      - On-Premise
    - Spain Human Resource Management Market, By Enterprise Size
      - Large Enterprise
      - Small & Medium Enterprise (SME)
    - Spain Human Resource Management Market, By End-Use
      - Education
      - Banking, Financial Services, And Insurance (BFSI)
      - Government
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Retail
      - Others
- Asia Pacific
  - Asia Pacific Human Resource Management Market, By Component
    - Software
    - Service
  - Asia Pacific Human Resource Management Market, By Software
    - Core HR
    - Employee Collaboration And Engagement
    - Recruitment And Applicant Tracking
    - Talent Management
    - Learning Management
    - Workforce Planning & Analytics
    - Others
  - Asia Pacific Human Resource Management Market, By Service
    - Integration & Deployment
    - Support & Maintenance
    - Training & Consulting
  - Asia Pacific Human Resource Management Market, By Deployment
    - Hosted
    - On-Premise
  - Asia Pacific Human Resource Management Market, By Enterprise Size
    - Large Enterprise
    - Small & Medium Enterprise (SME)
  - Asia Pacific Human Resource Management Market, By End-Use
    - Education
    - Banking, Financial Services, And Insurance (BFSI)
    - Government
    - Healthcare
    - IT & Telecom
    - Manufacturing
    - Retail
    - Others
  - China
    - China Human Resource Management Market, By Component
      - Software
      - Service
    - China Human Resource Management Market, By Software
      - Core HR
      - Employee Collaboration And Engagement
      - Recruitment And Applicant Tracking
      - Talent Management
      - Learning Management
      - Workforce Planning & Analytics
      - Others
    - China Human Resource Management Market, By Service
      - Integration & Deployment
      - Support & Maintenance
      - Training & Consulting
    - China Human Resource Management Market, By Deployment
      - Hosted
      - On-Premise
    - China Human Resource Management Market, By Enterprise Size
      - Large Enterprise
      - Small & Medium Enterprise (SME)
    - China Human Resource Management Market, By End-Use
      - Education
      - Banking, Financial Services, And Insurance (BFSI)
      - Government
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Retail
      - Others
  - India
    - India Human Resource Management Market, By Component
      - Software
      - Service
    - India Human Resource Management Market, By Software
      - Core HR
      - Employee Collaboration And Engagement
      - Recruitment And Applicant Tracking
      - Talent Management
      - Learning Management
      - Workforce Planning & Analytics
      - Others
    - India Human Resource Management Market, By Service
      - Integration & Deployment
      - Support & Maintenance
      - Training & Consulting
    - India Human Resource Management Market, By Deployment
      - Hosted
      - On-Premise
    - India Human Resource Management Market, By Enterprise Size
      - Large Enterprise
      - Small & Medium Enterprise (SME)
    - India Human Resource Management Market, By End-Use
      - Education
      - Banking, Financial Services, And Insurance (BFSI)
      - Government
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Retail
      - Others
  - Japan
    - Japan Human Resource Management Market, By Component
      - Software
      - Service
    - Japan Human Resource Management Market, By Software
      - Core HR
      - Employee Collaboration And Engagement
      - Recruitment And Applicant Tracking
      - Talent Management
      - Learning Management
      - Workforce Planning & Analytics
      - Others
    - Japan Human Resource Management Market, By Service
      - Integration & Deployment
      - Support & Maintenance
      - Training & Consulting
    - Japan Human Resource Management Market, By Deployment
      - Hosted
      - On-Premise
    - Japan Human Resource Management Market, By Enterprise Size
      - Large Enterprise
      - Small & Medium Enterprise (SME)
    - Japan Human Resource Management Market, By End-Use
      - Education
      - Banking, Financial Services, And Insurance (BFSI)
      - Government
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Retail
      - Others
  - Hong Kong
    - Hong Kong Human Resource Management Market, By Component
      - Software
      - Service
    - Hong Kong Human Resource Management Market, By Software
      - Core HR
      - Employee Collaboration And Engagement
      - Recruitment And Applicant Tracking
      - Talent Management
      - Learning Management
      - Workforce Planning & Analytics
      - Others
    - Hong Kong Human Resource Management Market, By Service
      - Integration & Deployment
      - Support & Maintenance
      - Training & Consulting
    - Hong Kong Human Resource Management Market, By Deployment
      - Hosted
      - On-Premise
    - Hong Kong Human Resource Management Market, By Enterprise Size
      - Large Enterprise
      - Small & Medium Enterprise (SME)
    - Hong Kong Human Resource Management Market, By End-Use
      - Education
      - Banking, Financial Services, And Insurance (BFSI)
      - Government
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Retail
      - Others
  - Australia
    - Australia Human Resource Management Market, By Component
      - Software
      - Service
    - Australia Human Resource Management Market, By Software
      - Core HR
      - Employee Collaboration And Engagement
      - Recruitment And Applicant Tracking
      - Talent Management
      - Learning Management
      - Workforce Planning & Analytics
      - Others
    - Australia Human Resource Management Market, By Service
      - Integration & Deployment
      - Support & Maintenance
      - Training & Consulting
    - Australia Human Resource Management Market, By Deployment
      - Hosted
      - On-Premise
    - Australia Human Resource Management Market, By Enterprise Size
      - Large Enterprise
      - Small & Medium Enterprise (SME)
    - Australia Human Resource Management Market, By End-Use
      - Education
      - Banking, Financial Services, And Insurance (BFSI)
      - Government
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Retail
      - Others
  - Singapore
    - Singapore Human Resource Management Market, By Component
      - Software
      - Service
    - Singapore Human Resource Management Market, By Software
      - Core HR
      - Employee Collaboration And Engagement
      - Recruitment And Applicant Tracking
      - Talent Management
      - Learning Management
      - Workforce Planning & Analytics
      - Others
    - Singapore Human Resource Management Market, By Service
      - Integration & Deployment
      - Support & Maintenance
      - Training & Consulting
    - Singapore Human Resource Management Market, By Deployment
      - Hosted
      - On-Premise
    - Singapore Human Resource Management Market, By Enterprise Size
      - Large Enterprise
      - Small & Medium Enterprise (SME)
    - Singapore Human Resource Management Market, By End-Use
      - Education
      - Banking, Financial Services, And Insurance (BFSI)
      - Government
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Retail
      - Others
  - Thailand
    - Thailand Human Resource Management Market, By Component
      - Software
      - Service
    - Thailand Human Resource Management Market, By Software
      - Core HR
      - Employee Collaboration And Engagement
      - Recruitment And Applicant Tracking
      - Talent Management
      - Learning Management
      - Workforce Planning & Analytics
      - Others
    - Thailand Human Resource Management Market, By Service
      - Integration & Deployment
      - Support & Maintenance
      - Training & Consulting
    - Thailand Human Resource Management Market, By Deployment
      - Hosted
      - On-Premise
    - Thailand Human Resource Management Market, By Enterprise Size
      - Large Enterprise
      - Small & Medium Enterprise (SME)
    - Thailand Human Resource Management Market, By End-Use
      - Education
      - Banking, Financial Services, And Insurance (BFSI)
      - Government
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Retail
      - Others
  - South Korea
    - South Korea Human Resource Management Market, By Component
      - Software
      - Service
    - South Korea Human Resource Management Market, By Software
      - Core HR
      - Employee Collaboration And Engagement
      - Recruitment And Applicant Tracking
      - Talent Management
      - Learning Management
      - Workforce Planning & Analytics
      - Others
    - South Korea Human Resource Management Market, By Service
      - Integration & Deployment
      - Support & Maintenance
      - Training & Consulting
    - South Korea Human Resource Management Market, By Deployment
      - Hosted
      - On-Premise
    - South Korea Human Resource Management Market, By Enterprise Size
      - Large Enterprise
      - Small & Medium Enterprise (SME)
    - South Korea Human Resource Management Market, By End-Use
      - Education
      - Banking, Financial Services, And Insurance (BFSI)
      - Government
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Retail
      - Others
- Latin America
  - Latin America Human Resource Management Market, By Component
    - Software
    - Service
  - Latin America Human Resource Management Market, By Software
    - Core HR
    - Employee Collaboration And Engagement
    - Recruitment And Applicant Tracking
    - Talent Management
    - Learning Management
    - Workforce Planning & Analytics
    - Others
  - Latin America Human Resource Management Market, By Service
    - Integration & Deployment
    - Support & Maintenance
    - Training & Consulting
  - Latin America Human Resource Management Market, By Deployment
    - Hosted
    - On-Premise
  - Latin America Human Resource Management Market, By Enterprise Size
    - Large Enterprise
    - Small & Medium Enterprise (SME)
  - Latin America Human Resource Management Market, By End-Use
    - Education
    - Banking, Financial Services, And Insurance (BFSI)
    - Government
    - Healthcare
    - IT & Telecom
    - Manufacturing
    - Retail
    - Others
  - Brazil
    - Brazil Human Resource Management Market, By Component
      - Software
      - Service
    - Brazil Human Resource Management Market, By Software
      - Core HR
      - Employee Collaboration And Engagement
      - Recruitment And Applicant Tracking
      - Talent Management
      - Learning Management
      - Workforce Planning & Analytics
      - Others
    - Brazil Human Resource Management Market, By Service
      - Integration & Deployment
      - Support & Maintenance
      - Training & Consulting
    - Brazil Human Resource Management Market, By Deployment
      - Hosted
      - On-Premise
    - Brazil Human Resource Management Market, By Enterprise Size
      - Large Enterprise
      - Small & Medium Enterprise (SME)
    - Brazil Human Resource Management Market, By End-Use
      - Education
      - Banking, Financial Services, And Insurance (BFSI)
      - Government
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Retail
      - Others
  - Mexico
    - Mexico Human Resource Management Market, By Component
      - Software
      - Service
    - Mexico Human Resource Management Market, By Software
      - Core HR
      - Employee Collaboration And Engagement
      - Recruitment And Applicant Tracking
      - Talent Management
      - Learning Management
      - Workforce Planning & Analytics
      - Others
    - Mexico Human Resource Management Market, By Service
      - Integration & Deployment
      - Support & Maintenance
      - Training & Consulting
    - Mexico Human Resource Management Market, By Deployment
      - Hosted
      - On-Premise
    - Mexico Human Resource Management Market, By Enterprise Size
      - Large Enterprise
      - Small & Medium Enterprise (SME)
    - Mexico Human Resource Management Market, By End-Use
      - Education
      - Banking, Financial Services, And Insurance (BFSI)
      - Government
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Retail
      - Others
- MEA
  - MEA Human Resource Management Market, By Component
    - Software
    - Service
  - MEA Human Resource Management Market, By Software
    - Core HR
    - Employee Collaboration And Engagement
    - Recruitment And Applicant Tracking
    - Talent Management
    - Learning Management
    - Workforce Planning & Analytics
    - Others
  - MEA Human Resource Management Market, By Service
    - Integration & Deployment
    - Support & Maintenance
    - Training & Consulting
  - MEA Human Resource Management Market, By Deployment
    - Hosted
    - On-Premise
  - MEA Human Resource Management Market, By Enterprise Size
    - Large Enterprise
    - Small & Medium Enterprise (SME)
  - MEA Human Resource Management Market, By End-Use
    - Education
    - Banking, Financial Services, And Insurance (BFSI)
    - Government
    - Healthcare
    - IT & Telecom
    - Manufacturing
    - Retail
    - Others
  - Saudi Arabia
    - Saudi Arabia Human Resource Management Market, By Component
      - Software
      - Service
    - Saudi Arabia Human Resource Management Market, By Software
      - Core HR
      - Employee Collaboration And Engagement
      - Recruitment And Applicant Tracking
      - Talent Management
      - Learning Management
      - Workforce Planning & Analytics
      - Others
    - Saudi Arabia Human Resource Management Market, By Service
      - Integration & Deployment
      - Support & Maintenance
      - Training & Consulting
    - Saudi Arabia Human Resource Management Market, By Deployment
      - Hosted
      - On-Premise
    - Saudi Arabia Human Resource Management Market, By Enterprise Size
      - Large Enterprise
      - Small & Medium Enterprise (SME)
    - Saudi Arabia Human Resource Management Market, By End-Use
      - Education
      - Banking, Financial Services, And Insurance (BFSI)
      - Government
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Retail
      - Others
  - South Africa
    - South Africa Human Resource Management Market, By Component
      - Software
      - Service
    - South Africa Human Resource Management Market, By Software
      - Core HR
      - Employee Collaboration And Engagement
      - Recruitment And Applicant Tracking
      - Talent Management
      - Learning Management
      - Workforce Planning & Analytics
      - Others
    - South Africa Human Resource Management Market, By Service
      - Integration & Deployment
      - Support & Maintenance
      - Training & Consulting
    - South Africa Human Resource Management Market, By Deployment
      - Hosted
      - On-Premise
    - South Africa Human Resource Management Market, By Enterprise Size
      - Large Enterprise
      - Small & Medium Enterprise (SME)
    - South Africa Human Resource Management Market, By End-Use
      - Education
      - Banking, Financial Services, And Insurance (BFSI)
      - Government
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Retail
      - Others

Human Resource Management Market Dynamics

Driver: Strong Emphasis On Hr Process Automation

A building emphasis on the automation of HR processes across all sorts of organizations is emerging as one of the crucial drivers driving the demand for HRM systems. Given that HR professionals are equally responsible for making strategic decisions and aligning all the HR functions with the organizational goals, vision, and mission, organizations have started adopting HRM systems that can potentially reduce the time required to perform administrative HR functions, so that the time saved can be utilized in strategic decision-making and analysis.

Organizations are focusing on creating a digital workplace that helps enhance productivity offers flexibility & mobility, and offers modern communication tools. The looming shift of business processes from legacy systems to digital HR is playing a significant role in the centralization of HR data across all the branches of an organization, thereby facilitating easy data access.

The HR functions that are most likely to be automated over the forecast period include talent management, employee engagement & collaboration, recruitment, and training & development. Organizations are particularly looking for HRM solutions that allow managers and employees in the HR department to invest their time in analyzing the data available to them for organizational development.

Driver: CONTINUED INTEGRATION OF BIG DATA ANALYTICS AND MOBILE TECHNOLOGY IN HRM Systems

Rapid advances in the fields of big data analytics and artificial intelligence over the last decade have prompted numerous organizations to implement these technologies in their business processes. Organizations have realized that if they manage to effectively use the large volumes of the available workforce data, they will be able to derive substantial inferences about the organization's overall performance.

Employee retention is emerging as a major challenge for organizations. Talent management, succession planning, and career management are becoming crucial since organizations tend to spend aggressively recruiting, onboarding, training and nurturing their workforce. The use of predictive analytics in talent management is particularly helping organizations make better decisions and maximize capital by retaining human assets. Several organizations, such as SAP SE; ADP, Inc.; Oracle Corporation; IBM Corporation; and Workday, are offering integrated analytics with their HRM solutions, thereby providing a one-stop solution for all their customers. These integrated solutions provide numerical data and offer charts and figures that can help managers in decision-making and eventually save time.

Restraint: Reluctance Toward Adoption of New HRM Solution

Although Several HRM solution providers are providing adequate training and support, effective change management remains a major concern for organizations opting for the latest HRM systems. As technologies continue to advance, employees are particularly finding it challenging to get acquainted with and cope with the latest features of the new systems. Sometimes employees even consider learning the newly-implemented software as an additional task. On the other hand, the transition of the HR processes from conventional back-office management functions to key strategic decision-making has induced a change in the skillsets required by an HR professional. Over the last decade, organizations have been looking for employees who possess domain knowledge and technical knowledge and are equally comfortable in adopting various software and applications in their work. HRM solution providers are trying to ease the situation by offering complete support for the implementation of new systems. They are also providing technical assistance to all employees before, during, and after the implementation of the new systems to ensure a seamless and efficient transition process. Several HRM vendors are conducting training sessions and offering online training modules for their customers. For instance, Oracle Corporation provides online training modules related to every solution provided by the company. These training modules are accompanied by in-depth course material that the end users can access from any location and at any time. The company has also deployed a team of experts to provide technical assistance and guide the end users throughout the online course module.

What Does This Report Include?

This section will provide insights into the contents included in this human resource management market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Human resource management market qualitative analysis

Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
- Company overview
- Financial performance
- Product benchmarking
- Latest strategic developments

Human resource management market quantitative analysis

Market size, estimates, and forecast from 2018 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance

Research Methodology

A three-pronged approach was followed for deducing the human resource management market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for human resource management market to gather the most reliable and current information possible.

We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of human resource management market data depending on the type of information we’re trying to uncover in our research.

Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Human Resource Management Market Categorization:

The human resource management market was categorized into seven segments, namely component (Software, Service), software (Core HR, Employee Collaboration & Engagement, Recruiting, Talent Management, Workforce Planning & Analytics), service (Integration & Deployment, Support & Maintenance, Training & Consulting), deployment (Hosted, On-premise), enterprise size (Large Enterprise, Small & Medium Enterprise (SME)), end-use (Academia, BFSI, Government, Healthcare, IT & telecom, Manufacturing, Retail) and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The human resource management market was segmented into component, software, service, Deployment, enterprise size, end-use and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The human resource management market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into sixteen countries, namely, the U.S.; Canada; France; Germany; the UK.; Australia; China; India; Japan; Singapore; Thailand; Hong Kong; Brazil; Mexico; South Africa; Saudi Arabia.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Human resource management market companies & financials:

The human resource management market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

Accenture: Accenture is an Irish multinational company selling processing and consulting services. The company caters to several industries, including aerospace & defense, automotive, banking, capital markets, communications & media, chemicals, consumer goods, energy, health, industrial equipment, insurance, life sciences, public service, retail, utilities, and software & platforms. In 2020, the company invested USD 871 million in research & development activities in its assets and solutions, to accelerate the adoption of new technologies, such as robotics, 5G, blockchain, and quantum computing. The company holds over 7,900 patents and pending patent applications. As of March 2020, the company transformed its business segment model and changed its reportable segments to North America, Europe, and Growth Markets. Before this change, the reportable business segments were five industry groups, namely Media & Technology, Communications, Health & Public Service, Financial Services, and Products & Resources. In 2020, the North American market held the largest share of its revenue, accounting for 47% share.
ADP, Inc.: ADP is a provider of software and services in the human resource management marketspace. The company develops and provides comprehensive cloud-based Human Capital Management (HCM) solutions to small businesses, mid-sized businesses, large businesses, and multinational businesses across the globe. The company also provides solutions based on analytics and compliance. The solutions offered by the company cater to several HR domains, including payroll services, talent management, HR management, benefits administration, time & attendance, HR Business Process Outsourcing (HR BPO), Professional Employer Organization (PEO), and tax & compliance. The company caters to around 630,000 clients in more than 111 countries across the world. It is a public company listed on NASDAQ as ADP. The company provides HR services across four geographies, namely North America, Latin America, Europe, and the Asia Pacific. The company’s Channel Alliance program allows it to build partnerships with companies and professionals engaged in various types of domains, such as accounting professionals, financial advisory, and private equity.
Cezanne HR Limited: Cezanne is a provider of HR software solutions and services. The company Lefebvre Software acquired Cezanne HR Ltd. in 2013 to expand its presence across Europe. The company offers solutions based on the size of the business/enterprise of the customer. The company provides HR modules for areas such as people management, absence management, performance management, career & succession planning, and time tracking. Additionally, the company provides complementary solutions for recruitment, compensation, and international HRM. The company provides HR software-as-a-service solutions, thereby ensuring cost savings, easy access, reduced time, and no unscheduled downtime for the users. The company has a vast technology partner network, including Amazon Web Services, Microsoft Corporation, ZenDesk, and Live Chat. Additionally, the company collaborates with various HR solution providers to maximize customer satisfaction and add value to its existing product portfolio.
International Business Machines Corporation: The company is engaged in providing hardware, software solutions, and services. The company operates business through segments, namely technology services & cloud platforms, cognitive solutions, systems, global financing, and global business services. The company provides various HR management solutions through technology services & cloud platforms for core HR, performance management, talent management, and employee engagement, among others. The cognitive solutions segment offers products that help clients find actionable insights and make informed decisions for competitive advantage. The segment incorporates Watson, a cognitive computing platform that can learn from interactions with customers and staff, interact in natural language, and process volumes of big data. The platform offers advanced analytics capabilities to enable users to make strategic, fast, and fact-based decisions and drive better business outcomes.
In 2012, IBM Corporation acquired Kenexa, a recruiting and talent management solution provider. The combined strength of IBM and Kenexa provided customers with enhanced workforce management efficiencies and the ability to extract meaningful insights from their business information. The company uses artificial intelligence to deal with the large volumes of data generated by its users, analyze it, and protect it from getting lost or stolen. The company offers various HR analytics software solutions through analytics and cloud platforms for core HR, performance management, talent management, and employee engagement, among others. The company operates its business across 175 countries in the North American, Latin American, European, Middle Eastern & African, and Asia Pacific regions.
Kronos Incorporated: Kronos is an American multinational human capital management and HRM cloud provider. The company offers HRM solutions for logistics, manufacturing, retail, and hospitality industries. In April 2020, Kronos Incorporated and Ultimate Software merged to form Ultimate Kronos Group. The company's technology partners include Cornerstone Learning Suite, Microsoft, Google LLC, Passport, and Beekeeper Digital Workplace Platform. The company’s clientele includes SAB Miller, DHL Supply Chain India, Johnson Controls, Lipari Foods, PVR Cinemas, and Shop Direct.
Mercer LLC: Mercer provides consulting services for the management of healthcare plans, retirement plans, human resources, and investments. The company offers consultation on healthcare programs, retirement services, investments, and talent management to employees in the public sector as well as the private sector. The company’s clientele includes several small & medium enterprises as well as large enterprises operating in various industries and industry verticals, including energy, insurance, healthcare, financial services, education, retail, and technology. Mercer LLC’s consulting services for the HR domain cover talent strategy, talent mobility, executive compensation, HR transformation, workforce rewards, employee communication, and workday services. Mercer LLC operates as a wholly-owned subsidiary of Marsh & McLennan Companies, Inc. The company has more than 23,000 employees based in around 43 countries. The company’s clients include a majority of the Fortune 1000 and FTSE 100 companies along with other small- and medium-sized market organizations. The company provides its services in five geographical regions, namely North America, Latin America, Europe, Asia Pacific, and MEA.
NetSuite, Inc.: The company provides cloud-based solutions for enterprise management and automation of operations. The acquisition of the company by Oracle Corporation in November 2016 resulted in NetSuite, Inc.’s cloud ERP solutions being combined with Oracle Corporation’s enterprise-grade solutions, thereby expanding its offerings. NetSuite, Inc. provides products and services for Customer Relationship Management (CRM), accounting, Enterprise Resource Planning (ERP), inventory management, supply chain management, analytics, and human resource management. The company also provides an end-to-end B2C and B2B e-commerce platform for streamlining organizational operations. NetSuite, Inc. caters to companies operating across diverse industries and industry verticals, including healthcare, IT & telecom, advertising, media & planning, manufacturing, retail, education, energy, and transportation & logistics, among others. Nonprofit organizations also opt for the company’s solutions and services. The company’s clientele includes startups, fast-growing businesses, family-owned businesses, small businesses, mid-size businesses, PE-backed businesses, enterprise businesses, and VC-backed businesses, among others. The company operates in four major geographical regions, namely North America, South America, Europe, and the Asia Pacific. Eventually, the company is helping in running the business of more than 20,000 organizations, customers, and subsidiaries spread across more than 200 countries.
Oracle Corporation: Oracle is an American multinational computer technology corporation that provides products and services for enterprise information technology (IT) environments. These products and services include infrastructure and application offerings for interoperable IT deployment models, such as cloud-based deployments, on-premise deployments, and hybrid deployments. The company operates its business through three reportable segments, namely the Cloud and License business, the Hardware business, and the Services business. The market-focused offerings are provided under the Cloud and License business segment. This segment’s offerings include Oracle Database, Oracle Applications, and Oracle Middleware software offerings, which end-users deploy from the Oracle Cloud or their cloud/ on-premise IT environments. The company operates through multiple subsidiaries across the Americas, EMEA, and the Asia Pacific, such as Oracle International Corporation (U.S.), OCAPAC Distributor Partner UC (Ireland), OCAPAC research Company UC (Ireland), and Oracle Technology Company UC (Ireland), among several others.
PwC: PwC offers business advisory services, such as human resource consulting, strategy management, taxation, accounting, and auditing. The company operates mainly through four business segments, namely tax and legal, advisory, audit and assurance, and technology. PwC’s tax and legal segment helps businesses navigate risks and empowers them to make business decisions without compromising on taxation and legal responsibilities. The advisory segment helps organizations in addressing business problems ranging from strategy to implementation. As such, the segment helps client organizations make new market forays, tackling the challenges generated by organizational changes, pushing innovation within the organization, and addressing other issues. The audit and assurance segment helps investors in assessing whether they can rely on the information being released by the companies. The technology segment supports customers operating in various industries in innovation and implementing change. The company particularly offers solutions in terms of cybersecurity via IT consulting or software development.

Value chain-based sizing & forecasting

Supply Side Estimates

Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
revenue/volume
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis

Human Resource Management Market Report Objectives:

Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Human Resource Management Market Report Assumptions:

The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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