Human Resource Management Market Growth & Trends:
The global human resource management market size is expected to reach USD 56.15 billion by 2030, registering a CAGR of 12.8% from 2022 to 2030, according to a new report by Grand View Research, Inc. Digitalization in human resource management (HRM) technologies and software such as analytics, mobile, and cloud-based technologies are expected to drive the growth of the market. Future trends are the shift towards full-time remote work post-COVID-19 and the goal-oriented model's incorporation into workforce operations. Companies have also learned that developing corporate culture among employees can help them achieve their collective goals.
The HRM functions have developed rapidly in the COVID-19 pandemic because of the shift towards automation; the companies have started using software such as automated onboarding and remote recruiting and are embraced towards making the HR process virtual. For instance, Cegid Talentsoft has designed Cegid Talensoft Talent Acquisition software, which helps companies source better candidates and simplify the recruitment process. The software saves time and enriches the recruitment process for the candidates. A hybrid workplace model and automated workforce optimization with the help of cloud-based HR tools have gained importance across all industries. Its verticals in the COVID-19 pandemic are expected to emerge as a preferred option post-pandemic era.
Automated workforce optimization has also gained popularity across all industries. Verticals are predicted to emerge as the preferred option in the COVID-19 pandemic even in the post-pandemic. AI-based workforce optimization enables AI to generate employee schedules, estimate demand changes, and match workers to workloads. Artificial intelligence, the gig economy, diversity, productivity skills, and cloud-based HR technology are expected to drive post-pandemic HR management. HRM solution providers are focusing on enhancing their software solutions in order with the customers changing requirements and leveraging the advances in technology. Companies are also investing in R&D activities to develop HRM solutions that are simple to implement and understand and can potentially improve work efficiency. Key market players, such as SAP SE and Oracle Corp., have started offering their products on the cloud to eliminate the need for frequent system upgrades.
Human Resource Management Market Report Highlights:
- The need to solve the difficulty of identifying the right personnel is likely to fuel the expansion of the talent management software industry in the coming years. The segment is predicted to increase at a CAGR of more than 14% in the years ahead.
- The post-COVID impacts are expected to positively impact because some establishments have been given the option of working remotely with their workforces even after the pandemic is over. Such developments are expected to upsurge the distribution of HRM software, thus driving the segment growth over the estimated period.
- Advancements in modern technologies such as cloud-based HR technology, the Internet of Things (IoT), artificial intelligence (AI), and the constant deployment of these technologies in HR analytics are likely to fuel market demand over the forecasted period.
- HR analytics and its incorporation with HRM solutions to make informed decisions are vital in propelling the HRM industry.
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market Segmentation & Scope
- 1.2 Market Definitions
- 1.3 Information Procurement
- 1.3.1 Purchased Database
- 1.3.2 Gvr's Internal Database
- 1.3.3 Secondary Sources & Third-Party Perspective
- 1.3.4 Primary Research
- 1.4 Information Analysis
- 1.4.1 Data Analysis Models
- 1.5 Market Formulation and Data Visualization
- 1.6 Data Validation and Publishing
Chapter 2 Executive Summary
- 2.1 HRM Market - Industry Snapshot & Key Buying Criteria, 2018 - 2030
Chapter 3 Market Variables, Trends & Scope
- 3.1 Market Size and Growth Prospects
- 3.2 HRM - Value Chain Analysis
- 3.3 Market Dynamics
- 3.3.1 Impact Of Covid-19 On Hrm Market
- 3.3.2 Market Driver Analysis
- 3.3.2.1 Strong emphasis on HR process automation
- 3.3.2.2 Continued integration of big data analytics and mobile technology in HRM systems
- 3.3.3 Market Restraint Analysis
- 3.3.3.1 Reluctance toward adoption of new HRM solution
- 3.4 Penetration & Growth Prospect Mapping
- 3.5 Company Market Share Analysis, 2021
- 3.6 Business Environmental Analysis Tools
- 3.6.1 Porter's Five Forces Analysis
- 3.6.2 Pest Analysis
- 3.7 HRM Market - Evolution Analysis
Chapter 4 Human Resource Management Market Component Outlook
- 4.1 Market Size Estimates & Forecasts and Trend Analysis, 2018 - 2030 (USD Million)
- 4.2 HRM Market: Component Movement Analysis, 2021 & 2030
- 4.2.1 Software
- 4.2.2 Service
Chapter 5 Human Resource Management Market Software Outlook
- 5.1 Market Size Estimates & Forecasts and Trend Analysis, 2018 - 2030 (USD Million)
- 5.2 HRM Market: Software Movement Analysis, 2021 & 2030
- 5.2.1 Core Hr
- 5.2.2 Employee Collaboration And Engagement
- 5.2.3 Recruiting
- 5.2.4 Talent Management
- 5.2.5 Workforce Planning & Analytics
- 5.2.6 Others
Chapter 6 Human Resource Management Market Service Outlook
- 6.1 Market Size Estimates & Forecasts and Trend Analysis, 2018 - 2030 (USD Million)
- 6.2 HRM Market: Service Movement Analysis, 2021 & 2030
- 6.2.1 Integration & Deployment
- 6.2.2 Support & Maintenance
- 6.2.3 Training & Consulting
Chapter 7 Human Resource Management Market Deployment Outlook
- 7.1 Market Size Estimates & Forecasts and Trend Analysis, 2018 - 2030 (USD Million)
- 7.2 HRM Market: Deployment Movement Analysis, 2021 & 2030
- 7.2.1 Hosted
- 7.2.2 On-Premise
Chapter 8 Human Resource Management Market Enterprise Size Outlook
- 8.1 Market Size Estimates & Forecasts and Trend Analysis, 2018 - 2030 (USD Million)
- 8.2 HRM Market: Enterprise Size Movement Analysis, 2021 & 2030
- 8.2.1 Large Enterprise
- 8.2.2 Small & Medium Enterprise (Smes)
Chapter 9 Human Resource Management Market End-Use Outlook
- 9.1 Market Size Estimates & Forecasts and Trend Analysis, 2018 - 2030 (USD Million)
- 9.2 HRM Market: End-Use Movement Analysis, 2021 & 2030
- 9.2.1 Academia
- 9.2.2 Bfsi
- 9.2.3 Government
- 9.2.4 Healthcare
- 9.2.5 It & Telecom
- 9.2.6 Manufacturing
- 9.2.7 Retail
- 9.2.8 Others
Chapter 10 Regional Market Outlook
- 10.1 Market Size Estimates & Forecasts and Trend Analysis, 2018 - 2030 (USD Million)
- 10.2 HRM Market: Regional Movement Analysis, 2021 & 2030
- 10.3 North America
- 10.3.1 U.S.
- 10.3.2 Canada
- 10.4 Europe
- 10.4.1 France
- 10.4.2 Germany
- 10.4.3 U.K.
- 10.5 Asia Pacific
- 10.5.1 Australia
- 10.5.2 China
- 10.5.3 India
- 10.5.4 Japan
- 10.5.5 Singapore
- 10.5.6 Thailand
- 10.5.7 Hong Kong
- 10.6 Latin America
- 10.6.1 Brazil
- 10.6.2 Mexico
- 10.7 Middle East & Africa (MEA)
Chapter 11 Competitive Landscape
- 11.1 Accenture
- 11.1.1 Company Overview
- 11.1.2 Financial Overview
- 11.1.3 Product Benchmarking
- 11.1.4 Recent Developments
- 11.2 Adp, Inc.
- 11.2.1 Company Overview
- 11.2.2 Financial Overview
- 11.2.3 Product Benchmarking
- 11.2.4 Recent Developments
- 11.3 Cezanne Hr Limited
- 11.3.1 Company Overview
- 11.3.2 Product Benchmarking
- 11.3.3 Recent Developments
- 11.4 Ceridian Hcm, Inc.
- 11.4.1 Company Overview
- 11.4.2 Financial Overview
- 11.4.3 Product Benchmarking
- 11.4.4 Recent Developments
- 11.5 International Business Machines Corporation (Ibm)
- 11.5.1 Company Overview
- 11.5.2 Financial Overview
- 11.5.3 Product Benchmarking
- 11.5.4 Recent Developments
- 11.6 Kronos Incorporated
- 11.6.1 Company Overview
- 11.6.2 Product Benchmarking
- 11.6.3 Recent Developments
- 11.7 Mercer Llc
- 11.7.1 Company Overview
- 11.7.2 Product Benchmarking
- 11.7.3 Recent Developments
- 11.8 Oracle Corporation
- 11.8.1 Company Overview
- 11.8.2 Product Benchmarking
- 11.8.3 Recent Developments
- 11.9 Pwc
- 11.9.1 Company Overview
- 11.9.2 Financial Overview
- 11.9.3 Product Benchmarking
- 11.9.4 Recent Developments
- 11.10 Sap Se
- 11.10.1 Company Overview
- 11.10.2 Financial Overview
- 11.10.3 Product Benchmarking
- 11.10.4 Recent Developments
- 11.11 Cegid
- 11.11.1 Company Overview
- 11.11.2 Financial Overview
- 11.11.3 Product Benchmarking
- 11.11.4 Recent Developments
- 11.12 Ukg Inc.
- 11.12.1 Company Overview
- 11.12.2 Product Benchmarking
- 11.12.3 Recent Developments
- 11.13 Workday, Inc.
- 11.13.1 Company Overview
- 11.13.2 Product Benchmarking
- 11.13.3 Recent Developments