Core HR Software Market, By Component (Software, Service), Deployment (Cloud, On-Premise), Vertical (BFSI, Healthcare, Manufacturing, Transportation, IT & Telecommunication, Retail and Government) — Forecast 2023
In this rapidly changing world of technology, core HR software market is projected to show major growth prospects during the forecast period. Core HR software has gained major traction due to the increasing need for automation in managing and handling documents and other business processes.
As compared to other regions, the core HR software market in North America is expected to witness significant growth and dominate the market share during the forecast period. U.S and Canada are anticipated to drive the growth of core HR software market. This is owing to the presence of large number of emerging players and increasing startups in that region. In addition to this, the region also has a well-established economy which had led to rapid adoption of core HR software. Increasing number of smartphone users and adoption of advanced technologies is another reason for the growth of core HR software market.
The Core HR Software market is growing rapidly over 9% of CAGR and is expected to reach at approx. USD 11 billion by the end of forecast period.
Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Core HR Software Market Research Report-Forecast to 2023”.
Core HR Software Market Segmentation
The core HR software market has been segmented on the basis of component, deployment and vertical. The vertical segment is further bifurcated into BFSI, healthcare, transportation, media, IT and telecommunication, manufacturing and government. The government segment is expected to grow at the highest CAGR during the forecast period owing to the considerable workforce that it employs and will require a software to manage all the documents. Pension management and succession planning software’s can be very useful for government processes.
The prominent players in the Core HR Software market are — Automatic Data Processing (U.S.), Ceridian HCM, Inc. (U.S.), CoreHR (Ireland), Employwise (India), IBM Corporation (U.S.), Oracle Corporation (U.S.), Paychex, Inc. (U.S.), Paycom Software, Inc. (U.S.), SAP SE (Germany), Workday, Inc. (U.S.) among others.
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