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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Human Resource Management Market Outlook
In 2023, the global human resource management market stood at a value of USD 25.53 billion and is expected to grow at a CAGR of 10.5% between 2024 and 2032.
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Global organizations are focusing on establishing a digital workplace that allows high productivity, provides flexibility, mobility, and utilizes modern communication instruments. This change of business processes from legacy to digital systems is driving the market growth for human resource management as it plays a major role in centralizing human resource information across an organization's divisions, enabling simple data access.
Market Segmentation
Human resource management is a practical approach to manage people effectively in a company or an organization to assist in their business and achieve a competitive advantage. It is intended to optimize the output of employees serving the strategic goals of an employer.
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The human resource management market can be divided on the basis of segments like component, deployment model, and industry verticles.
The industry can be broadly categorised on the basis of its industry verticles into:
- Banking Financial Services and Insurance (BFSI)
- Retail
- IT and Telecommunication
- Healthcare
- Hospitality
- Government
- Manufacturing
- Others (Education, Transportation, Energy and Utilities and Media and Entertainment)
The industry can be divided on the basis of its component into core HR, recruiting, workforce management, compensation and payroll, services, and professional service, among others. The industry can be segmented based on its deployment models into CLOUD and on-premises.
The EMR report looks into the regionals markets of human resource management like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
Market Analysis
Advances in IT and the introduction of predictive analytics in HR procedures are anticipated to increase the development of human resource management market. The evolution of multiple human resource management (HRM) has allowed practitioners to carry out traditional HR operations over a short period of time and then concentrate on attracting the correct pool of applicants, maintaining human capital, aligning organisational policies with individual objectives, and managing their human resources in a way that results in organisational development.
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Competitive Landscape
The report gives a detailed analysis of the following key players in the global human resource management market, looking into their capacities, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Cornerstone OnDemand, Inc.,
- Kronos Incorporated
- ADP, LLC (NASDAQ: ADP)
- IBM (NYSE: IBM)
- Oracle Corp.
- Infor Inc.
- SAP SE
- Others
The EMR report provides an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter's five forces.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Deployment Model |
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| Breakup by Industry Verticals |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Human Resource Management Market Report Snapshots
Human Resource Management Market Size
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global human resource management market reached a value of USD 25.53 billion in 2023.
The market is projected to grow at a CAGR of 10.5% in the forecast period of 2024 and 2032.
The major drivers of the market include the changing business processes from legacy to digital systems, continued digitisation, increasing popularity of HRM solutions, and investments by government.
Advances in IT and the introduction of predictive analytics in HR procedures are the key trends propelling the market forward.
The major regions of the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The major components in the market are core HR, recruiting, workforce management, compensation and payroll, services, and professional service, among others (learning, applicant tracking and onboarding).
The different deployment models in the industry are cloud and on-premises.
The significant market verticals include banking financial services and insurance (BFSI), retail, IT and telecommunication, healthcare, hospitality, government, and manufacturing, among others (education, transportation, energy and utilities, media and entertainment).
The key players in the market are Cornerstone OnDemand, Inc., Kronos Incorporated, ADP, LLC (NASDAQ: ADP), IBM (NYSE: IBM), Oracle Corp., Infor Inc., SAP SE, Others.
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