human management resource market usd expected outlook

Human Resource Management Market Worth $38.17 Billion By 2027February 2020 | Report Format: Electronic (PDF)## Human Resource Management Market Growth & TrendsThe global human resource management market size is anticipated to reach USD38.17 billion by 2027, registering a CAGR of 11.7% from 2020 to 2027,according to a new report by Grand View Research, Inc. Increasing need formanaging the widespread workforce coupled with growing demand for replacinglegacy systems with improved human capital management platforms is anticipatedto fuel the growth. Human resource management (HRM) solution providers focuson developing software/solutions that can easily integrate with mobile apps,thereby enabling employees and employers to access information pertaining totime and attendance, leaves, and performance status from their personaldevices.Technological proliferation in the field of big data analytics, machinelearning (ML), artificial intelligence (AI), and Internet of Things (IoT) isexpected to positively impact the growth of the HRM market. Various solutionproviders are developing innovative solutions that integrate upcomingtechnologies into HR systems for enhanced organizational performance. Thetechnology proliferation and improved features increase the transparencyacross the organizations and provide flexibility to access data anytime andanywhere across the globe.The increased adoption of cloud deployment across all industries is expectedto accelerate the demand for HRM solutions over the forecast period. The useof cloud technology enables various Small and Medium Enterprises (SMEs) toadopt modern HRM solutions at reasonable prices without the need for constantupgrades or replacements of systems. In today’s improving workforceconditions, companies are enabling more technology investments that can assistin recruitment, management, and enhancement of human resources.* * *Request a free sample copy or view report summary: Human Resource ManagementMarket Report* * *## Human Resource Management Market Report Highlights * The talent management software segment is anticipated to expand at a significant CAGR over the forecast period, owing to features such as attracting, recruiting, and retaining the human assets of their organization * Post the implementation of HRM software, organizations require support and maintenance services from their vendors. This is expected to increase the demand for the support and maintenance services * The demand for hosted deployment segment is expected to witness growth over the forecast period, owing to the ease of integration with other systems, ease of use, and reduced costs * The large enterprises segment dominated the market in 2019 and is expected to maintain its dominance during the forecast period, as these enterprises are increasingly adopting automation solutions for managing a large workforce * The retail segment is expected to expand at the highest CAGR from 2020 to 2027. The rapid growth of the retail industry has resulted in the large-scale hiring as well as employee retention at all levels of the industry by ensuring better job roles, career paths, and benefits. In an attempt to streamline these functions, a large number of organizations operating in the retail industry opt for HRM solutions * Asia Pacific is anticipated to expand at a significant CAGR during the forecast period, owing to the rapid industrialization and digitization initiatives taken by the governments in the region * The key players in the human resource management 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; PricewaterhouseCoopers (PwC); SAP SE; Talentsoftl Ultimate Software; and Workday, Inc.## Human Resource Management Market SegmentationGrand View Research has segmented the global human resource management marketbased on software, service, deployment, enterprise size, end use, and region:Human Resource Management Software Outlook (Revenue, USD Million, 2016 – 2027)Human Resource Management Service Outlook (Revenue, USD Million, 2016 – 2027) * Integration & Deployment * Support & Maintenance * Training & ConsultingHuman Resource Management Deployment Outlook (Revenue, USD Million, 2016 -2027)Human Resource Management Enterprise Outlook (Revenue, USD Million, 2016 -2027)Human Resource Management End Use Outlook (Revenue, USD Million, 2016 – 2027) * Academia * BFSI * Government * Healthcare * IT & Telecom * Manufacturing * Retail * OthersHuman Resource Management Regional Outlook (Revenue, USD Million, 2016 – 2027) * North America * Europe * Asia Pacific * Australia * China * Hong Kong * India * Japan * Singapore * Thailand * Latin America * Middle East & Africa