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

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

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 AttributeDetails
No. of Pages179
Forecast Period2022 - 2030
Estimated Market Value (USD) in 2022$7.3 Billion
Forecasted Market Value (USD) by 2030$19 Billion
Compound Annual Growth Rate12.7%
Regions CoveredGlobal

Key Topics Covered:




  • 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



  • 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




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Global Market for Core HR Software

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