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.
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
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