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Global Core HR Software Strategic Business Report 2023: Rising Demand for HR Technology Across Various Industry Verticals Bodes Well for Market Growth

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Global Market for Core HR Software

Global Market for Core HR Software
Global Market for Core HR Software

Dublin, May 11, 2023 (GLOBE NEWSWIRE) -- The "Core HR Software - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Core HR Software estimated at US$7.3 Billion in the year 2022, is projected to reach a revised size of US$19 Billion by 2030, growing at a CAGR of 12.7% over the analysis period 2022-2030.

Software, one of the segments analyzed in the report, is projected to record 11.9% CAGR and reach US$12 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Services segment is readjusted to a revised 14.2% CAGR for the next 8-year period.

The U.S. Market is Estimated at $2.1 Billion, While China is Forecast to Grow at 11.8% CAGR

The Core HR Software market in the U.S. is estimated at US$2.1 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$3.2 Billion by the year 2030 trailing a CAGR of 11.8% over the analysis period 2022 to 2030.

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Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.7% and 10.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 9% CAGR.

Select Competitors (Total 11 Featured) -

  • Automatic Data Processing, Inc. (ADP)

  • Ceridian HCM, Inc.

  • CoreHR Limited

  • Employwise Inc.

  • IBM Corporation

  • Oracle Corporation

  • Paychex, Inc.

  • Paycom

  • SAP SE

  • Sumtotal Systems, LLC

  • Ultimate Software Group, Inc.

  • Workday, Inc.

Key Attributes:

Report Attribute

Details

No. of Pages

179

Forecast Period

2022 - 2030

Estimated Market Value (USD) in 2022

$7.3 Billion

Forecasted Market Value (USD) by 2030

$19 Billion

Compound Annual Growth Rate

12.7%

Regions Covered

Global

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights

  • Core HR Software - Global Key Competitors Percentage Market Share in 2022 (E)

  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

  • As a Centralized Repository for Workforce Data, Core HR Software is Vital to Seamless Human Resource Management

  • Automation of HR Processes Paves the Way for Wider Adoption

  • Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Rising Demand for HR Technology across Various Industry Verticals Bodes Well for Market Growth

  • Steady Pace of Investments in the Space Driven by Organizations Moving Towards Digitization: Total Investment (In US$ Billion) in HR Tech for the Years 2015, 2016, 2017 & 2018

  • Inherent Benefits of Core HR Software Spurs Adoption

  • Select Popular Core HR Software Solutions

  • Integration of Employee Self-Service Options Bolsters Market Prospects

  • Rapid Adoption of Cloud-Based Based HR Management Systems Amplifies Demand for Core HR Solutions

  • Small and Medium-sized Enterprises Increase Investments in HR Software to Improve Cost Optimization

  • Growing Use of HR Analytics for Effective Decision Making Open up New Possibilities

  • Increasing Interest in Data-Driven Insights to Track Workforce Performance and Talent Management Drives up Demand: Global HR Analytics Market (In US$ Billion) for the Years 2019, 2021, 2023 & 2025

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/g22iz0

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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