Human Resource Management Software Market Size, Share & Market Forecast 2025

2015 – 2025 GLOBAL HUMAN RESOURCE MANAGEMENT SOFTWARE MARKET FORECAST & OPPORTUNITIES www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING

Scope of Report Product of Interest (POI): Human Resource Management Software

Human resource management system is a blend of systems and processes which integrates core and strategic functions into one comprehensive solution.

Organizations prefer human resource management software or HRMS as it simplifies crucial human resource department’s functions such as storing employee data, managing payrolls, recruitment processes, keeping track of attendance records, among others.

Market Segmentation

Global Human Resource Management Software MARKET

VERTICAL COMPONENT

• BFSI

• Software

• IT & Telecom

• Service

• Retail

Year Range Review Period

2015 – 2018

• Healthcare

DEPLOYMENT MODE • On Cloud • On Premise

• Manufacturing • Others

2019

REGION

Estimated Year

•

North America

•

Europe

• SME

•

Asia-Pacific

• Large Enterprise

•

South America

•

Middle East & Africa

ENTERPRISE SIZE

Base Year

2020 Forecast Period

2021 – 2025

2

Table of Contents S. No.

Contents

1.

Product Overview

2.

Research Methodology

3.

Executive Summary

4.

Voice of Customer

5.

Global Human Resource Management Software Market Outlook 5.1.

Market Size & Forecast 5.1.1.

5.2.

By Value

Market Share & Forecast

5.2.1.

By Component (Software, Services)

By Software (Core HR, Recruitment, Talent Management, Workforce Planning & Analytics, Others)

By Service (Training & Consulting, Support & Maintenance, Integration & Implementation, Others)

5.2.1.1.

5.2.1.2.

5.3.

6.

Page No.

5.2.2.

By Deployment Mode (On-Cloud and On-premise)

5.2.3.

By Enterprise Size (SME, Large Enterprise)

5.2.4.

By Vertical (BFSI, IT & Telecom, Retail, Healthcare, Manufacturing, Others)

5.2.5.

By Company (2019)

5.2.6.

By Region

Product Market Map

Asia-Pacific Human Resource Management Software Market Outlook 6.1.

Market Size & Forecast 6.1.1.

6.2.

By Value

Market Share & Forecast

3

Table of Contents S. No.

Contents

6.3.

6.2.1.

By Component

6.2.2.

By Deployment Mode

6.2.3.

By Vertical

6.2.4

By Country

Page No.

Asia-Pacific: Country Analysis 6.3.1.

China Human Resource Management Software Market Outlook 6.3.1.1.

Market Size & Forecast 6.3.1.1.1.

6.3.1.2.

6.3.2.

Market Share & Forecast 6.3.1.2.1.

By Component

6.3.1.2.2.

By Deployment Mode

6.3.1.2.3

By Vertical

India Human Resource Management Software Market Outlook 6.3.2.1.

Market Size & Forecast 6.3.2.1.1.

6.3.2.2.

6.3.3.

By Value

By Value

Market Share & Forecast 6.3.2.2.1.

By Component

6.3.2.2.2.

By Deployment Mode

6.3.2.2.3

By Vertical

Japan Human Resource Management Software Market Outlook 6.3.3.1.

Market Size & Forecast 6.3.3.1.1.

6.3.3.2.

By Value

Market Share & Forecast 6.3.3.2.1.

By Component

4

Table of Contents S. No.

Contents

6.3.4.

6.3.3.2.2.

By Deployment Mode

6.3.3.2.3

By Vertical

South Korea Human Resource Management Software Market Outlook 6.3.4.1.

Market Size & Forecast 6.3.4.1.1.

6.3.4.2.

6.3.5.

By Value

Market Share & Forecast 6.3.4.2.1.

By Component

6.3.4.2.2.

By Deployment Mode

6.3.4.2.3

By Vertical

Australia Human Resource Management Software Market Outlook

6.3.5.1.

Market Size & Forecast 6.3.5.1.1.

6.3.5.2.

6.3..

Page No.

By Value

Market Share & Forecast 6.3.5.2.1.

By Component

6.3.5.2.2.

By Deployment Mode

6.3.5.2.3

By Vertical

Rest Of Asia Pacific Human Resource Management Software Market Outlook 6.3.1.

Market Size & Forecast 6.3.6.1.1.

6.3.5.2.

By Value

Market Share & Forecast 6.3.6.2.1.

By Component

6.3.6.2.2.

By Deployment Mode

6.3.6.2.3

By Vertical

5

Table of Contents S. No. 7.

Contents

Page No.

Europe Human Resource Management Software Market Outlook 7.1.

Market Size & Forecast 7.1.1.

7.2.

7.3.

By Value

Market Share & Forecast 7.2.1.

By Component

7.2.2.

By Deployment Mode

7.2.3.

By Vertical

7.2.4

By Country

Europe: Country Analysis 7.3.1.

France Human Resource Management Software Market Outlook 7.3.1.1.

Market Size & Forecast 7.3.1.1.1.

7.3.1.2.

7.3.2.

By Value

Market Share & Forecast 7.3.1.2.1.

By Component

7.3.1.2.2.

By Deployment Mode

7.3.1.2.3

By Vertical

Germany Human Resource Management Software Market Outlook 7.3.2.1.

Market Size & Forecast 7.3.2.1.1.

7.3.2.2.

By Value

Market Share & Forecast 7.3.2.2.1.

By Component

7.3.2.2.2.

By Deployment Mode

7.3.2.2.3

By Vertical

6

Table of Contents S. No.

Contents 7.3.3.

United Kingdom Human Resource Management Software Market Outlook 7.3.3.1.

Market Size & Forecast 7.3.3.1.1.

7.3.3.2.

7.3.4.

By Value

Market Share & Forecast 7.3.3.2.1.

By Component

7.3.3.2.2.

By Deployment Mode

7.3.3.2.3

By Vertical

Italy Human Resource Management Software Market Outlook 7.3.4.1.

Market Size & Forecast 7.3.4.1.1.

7.3.4.2.

7.3.5.

Page No.

By Value

Market Share & Forecast 7.3.4.2.1.

By Component

7.3.4.2.2.

By Deployment Mode

7.3.4.2.3

By Vertical

Russia Human Resource Management Software Market Outlook 7.3.5.1

Market Size & Forecast

7.3.5.1.1.

7.3.5.2.

By Value

Market Share & Forecast 7.3.5.2.1.

By Component

7.3.5.2.2.

By Deployment Mode

7.3.5.2.3

By Vertical

7

Table of Contents S. No.

Contents 7.6.3.

Rest Of Europe Human Resource Management Software Market Outlook 7.3.1.6

Market Size & Forecast

7.3.6.1.1.

7.3.6.2.

8.

Page No.

By Value

Market Share & Forecast 7.3.6.2.1.

By Component

7.3.6.2.2.

By Deployment Mode

7.3.6.2.3

By Vertical

North America Human Resource Management Software Market Outlook 8.1.

Market Size & Forecast 8.1.1.

8.2.

8.3.

By Value

Market Share & Forecast 8.2.1.

By Component

8.2.2.

By Deployment Mode

8.2.3.

By Vertical

8.2.4

By Country

North America: Country Analysis 8.3.1.

United States Resource Software Market Outlook 8.3.1.1.

Market Size & Forecast 8.3.1.1.1.

8.3.1.2.

By Value

Market Share & Forecast

8.3.1.2.1.

By Component

8.3.1.2.2.

By Deployment Mode

8.3.1.2.3

By Vertical

8

Table of Contents S. No.

Contents 8.3.2.

Mexico Human Resource Management Software Market Outlook

8.3.2.1.

Market Size & Forecast 8.3.2.1.1.

8.3.2.2.

8.3.3.

By Value

Market Share & Forecast 8.3.2.2.1.

By Component

8.3.2.2.2.

By Deployment Mode

8.3.2.2.3

By Vertical

Canada Human Resource Management Software Market Outlook 8.3.3.1.

Market Size & Forecast 8.3.3.1.1.

8.3.3.2.

9.

Page No.

By Value

Market Share & Forecast 8.3.3.2.1.

By Component

8.3.3.2.2.

By Deployment Mode

8.3.3.2.3

By Vertical

South America Human Resource Management Software Market Outlook

9.1.

Market Size & Forecast 9.1.1.

9.2.

By Value

Market Share & Forecast 9.2.1.

By Component

9.2.2.

By Deployment Mode

9.2.3.

By Vertical

9.2.4.

By Country

9

Table of Contents S. No.

Contents 9.3.

Page No.

South America: Country Analysis 9.3.1.

Brazil States Resource Software Market Outlook 9.3.1.1.

Market Size & Forecast 9.3.1.1.1.

9.3.1.2.

9.3.2.

Market Share & Forecast 9.3.1.2.1.

By Component

9.3.1.2.2.

By Deployment Mode

9.3.1.2.3

By Vertical

Argentina Human Resource Management Software Market Outlook 9.3.2.1.

Market Size & Forecast 9.3.2.1.1.

9.3.2.2.

9.3.3.

By Value

By Value

Market Share & Forecast

9.3.2.2.1.

By Component

9.3.2.2.2.

By Deployment Mode

9.3.2.2.3

By Vertical

Colombia Human Resource Management Software Market Outlook 9.3.3.1.

Market Size & Forecast 9.3.3.1.1.

9.3.3.2.

By Value

Market Share & Forecast 9.3.3.2.1.

By Component

9.3.3.2.2.

By Deployment Mode

9.3.3.2.3

By Vertical

10

Table of Contents S. No.

Contents

9.3.4.

Rest Of South America Human Resource Management Software Market Outlook 9.3.4.1.

Market Size & Forecast 9.3.4.1.1.

9.3.4.2.

10.

Page No.

By Value

Market Share & Forecast 9.3.4.2.1.

By Component

9.3.4.2.2.

By Deployment Mode

9.3.4.2.3

By Vertical

Middle East & Africa Human Resource Management Software Market Outlook 10.1.

Market Size & Forecast 10.1.1.

10.2.

10.3.

By Value

Market Share & Forecast 10.2.1.

By Component

10.2.2.

By Deployment Mode

10.2.3.

By Vertical

10.2.4

By Country

MEA: Country Analysis 10.3.1.

South Africa Resource Software Market Outlook 10.3.1.1.

Market Size & Forecast 10.3.1.1.1.

10.3.1.2.

By Value

Market Share & Forecast 10.3.1.2.1.

By Component

10.3.1.2.2.

By Deployment Mode

10.3.1.2.3

By Vertical

11

Table of Contents S. No.

Contents

Page No.

10.3.2. Saudi Arabia Human Resource Management Software Market Outlook 10.3.2.1.

Market Size & Forecast 10.3.2.1.1.

10.3.3.2.

By Value

Market Share & Forecast 10.3.3.2.1.

By Component

10.3.3.2.2.

By Deployment Mode

10.3.3.2.3

By Vertical

10.3.3. UAE Human Resource Management Software Market Outlook 10.3.3.1.

Market Size & Forecast 10.3.3.1.1.

10.3.3.2.

By Value

Market Share & Forecast 10.3.3.2.1.

By Component

10.3.3.2.2.

By Deployment Mode

10.3.3.2.3

By Vertical Rest Of Middle East & Africa Human Resource Management Software Market 10.3.4.

Outlook

10.3.4.1.

Market Size & Forecast 10.3.4.1.1.

10.3.4.2.

By Value

Market Share & Forecast 10.3.4.2.1.

By Component

10.3.4.2.2.

By Deployment Mode

10.3.4.2.3

By Vertical

12

Table of Contents S. No.

11.

Contents

Page No.

Market Dynamics 11.1.

Drivers

11.2.

Challenges

12.

Market Trends & Developments

13.

Competitive Landscape 13.1. Automatic Data Processing (ADP), Inc. 13.2 IBM Corp 13.3 Accenture PLC 13.4

Kronos Inc

13.5

Oracle Corp

13.6

SAP SE

13.7

Workday Inc

13.8

Ultimate Software Group, Inc

13.9

Corestone On Demand

13.10 Others 14.

Strategic Recommendation

15.

About Us & Disclaimer

13

RESEARCH METHODOLOGY

Research Methodology

Market Profiling

In-depth secondary research was conducted to determine top players in the Global Human Resource Management Software market, overall market size and segmental market size.

Formulating Questionnaire

In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide.

Developing List of Respondents

Data Collection

Data Validation

Data obtained as a result of primary and secondary research was validated through rigorous triangulation.

TechSci conducted interviews with industry experts and industry players for data collection and verification.

List of industry players and industry specialists was developed.

Primary Research

Data Collection

Data Filter & Analysis

Research & Intelligence

Actionable Insights

Business Solution

LinkedIn TechSci Internal Database

✓ Recent Developments ✓ Market Changing Aspects/Dynamics ✓ Government Policies ✓ Final Conclusion

✓ Identifying Key Opinion Leaders ✓ Questionnaire Design ✓ In-depth Interviews

Primary Research ✓ ✓

Desk Research

Secondary Research ✓ ✓ ✓ ✓ ✓ ✓ ✓

Company Websites Company Annual Reports White Paper Study Financial Reports Investor Presentations Regulatory Body Associations, etc.

Data Analysis

The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about the Global Human Resource Management Software market.

Company Analysis ✓ Market Participants ✓ Key Strengths

Paid Sources

✓ ✓

Factiva Hoovers

15

Research Methodology Baseline Methodology

Our dedicated team of industry experts has monitored and analyzed various aspects of the global human resource management software market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as advancements in IT,

introduction of predictive analytics in HR process, increasing adoption of cloud among SMEs. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in the global human resource management software market.

Methodology Followed for Calculation of Market Size:

•

Market Size By Value: Market size, in terms of value, for the year 2018 was calculated based on information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as human resource management companies, channel partners, market influencers & end users, industry experts, and other industry participants.

•

The team interviewed more than 15 – 20 companies, 45 – 50 channel partners, 80 – 100 end users, and 15 – 20 Industry experts and other value chain stakeholders in the global human resource management software market to obtain the overall market size for 2014-2018, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data during 2014-2018.

16

Research Methodology •

Respondents were asked about the current and future market growth rates, market shares by component, by deployment mode, by enterprise size. by vertical, by each region. Removing the outlier responses, the geometric mean of growth estimates and supplier wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders.

Methodology Followed for Calculation of Market Shares: Market shares by component, by deployment mode, by enterprise size. by vertical, by region and by company were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various technologies of transformer core. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers.

Methodology Followed for Forecasting: •

TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in SPSS/Tableau Software.

•

Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To global human resource management software market, TechSci Research used various forecast techniques such as: ✓

Moving Average

✓

Time Series Analysis

✓

Regression Analysis

✓

Econometric and Judgmental Analysis

17

Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. It should be noted that the figures compiled are only for the organized market including market share data.

Partial List of Companies Interviewed

Key Secondary Sources

▪ Automatic Data Processing (ADP), Inc

▪ World Bank

▪ IBM Corp.

▪ TechSci Research Proprietary Database & Knowledge

▪ Accenture PLC

Repository

▪ Kronos Inc

▪ Company Annual Reports

▪ Oracle Corp.

▪ Industry Magazines

▪ SAP SE

▪ Industry Reports

▪ Workday Inc

▪ News Dailies

▪ Ultimate Software Group, Inc

▪ Credible Paid Databases

▪ Cezanne HR Ltd. ▪ Corestone On Demand

18

Industry Brief According to TechSci Research report, “Global Human Resource Management Software Market By Component, By Deployment Mode, By Enterprise Size, By Vertical, By Region, Competition, Forecast & Opportunities, 2025”, the global human resource management software market is expected to grow at a formidable CAGR of around 9% during 2020 - 2025 on account of increasing adoption of cloud-native technologies. However, security issues, especially data security and access to sensitive information, can hamper the growth of market during forecast period. Another challenge lies in selecting the right software for the organization according to the needs.

The global human resource management software market is segmented based on component, deployment mode, enterprise size, vertical, region and company. Based on component, the market can be bifurcated into software (core HR, recruitment, talent management, workforce planning & analytics, others) and service (training & consulting, support & maintenance, integration & implementation, others). The Talent Management software segment is expected to dominate the market owing to the continuous demand and adoption of advanced technologies. Based on deployment mode, the market can be divided into On-cloud and onpremises. The On-Cloud deployment mode is expected to grow at a rapid pace during the forecast years. The On-Cloud deployment mode accounted for highest market share of over 70% in 2019 owing to its ease of integration with other systems, ease of use, reduced costs, among others. Based on organization size, the market can be segmented into SMEs and large enterprise. The smallmedium enterprise segment is expected to dominate the market attributable to the growing focus of the organizations on increasing productivity and efficiency of employees with HRM solutions. Increase in the adoption of human resources software across small enterprises is creating lucrative opportunities for the growth of this market.

Automatic Data Processing (ADP), Inc., IBM Corp., Kronos Inc., Accenture, Oracle Corp., SAP SE, Workday Inc., Ultimate Software Group, Inc., Cezanne HR Ltd., CorestoneOnDemand, and others are some of the leading players operating in global human resource management software market. SAP SE is the major player of this market with highest market share in 2019. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share. For instance, in October 2019, Cezanne HR signed a new product partnership with Curo which provides SaaS based solution for compensation planning. This partnership will deliver combined HR and compensation management capabilities to the clients.

“Asia-Pacific is expected to witness significant growth in the global human resource management software market during the forecast period, owing to the rapid industrialization and digitization initiatives taken by the different governments in the region. Additionally, presence of various major emerging economies, such as China, India, and South Korea is further expected to drive the regional HR management software market growth in the region over the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

19

Sample Data - Snapshot Global Human Resource Management Software Market Size, By Value (USD Million), 2015-2025F

5.00

7.00

6.00

8.00

CAGR By Value

2015

XX%

9.00

10.00

2019

2020E

11.00

12.00

14.00

13.00

CAGR By Value

2025F

YY%

By Value (USD Million)

15.00

Europe Human Resource Management Software Market Share, By Component, By Value, 2015-2025F Software

Service

50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50%

2025F 2024F 2023F 2022F 2021F 2020E 2019 2018 2017 2016 2015

50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50%

Germany Human Resource Management Software Market Share, By Vertical, By Value, 2015-2025F BFSI 2025F 2024F 2023F 2022F 2021F 2020E 2019 2018 2017 2016 2015

20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20%

IT & Telecom

20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20%

Retail

Healthcare

20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20%

20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20%

Manufacturing

20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20%

Others

20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20%

20

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About Us & Disclaimer

TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting

models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.

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Disclaimer The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and firsthand.

However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.