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Report Overview
The global human resource management market reached a value of nearly USD 28.21 Billion in 2024. The market is assessed to grow at a CAGR of 10.50% during the forecast period of 2025-2034 to attain a value of around USD 76.56 Billion by 2034. The market is being driven by the growing spending on HR technology, the increasing emphasis on pay transparency, the introduction of predictive analytics in HR procedures, technological advancements, the increasing focus on diversity and equality, and the rising trend of remote and hybrid work.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
- The emphasis on pay transparency is significantly increasing, driven by the growing demand for equality in the workplace and increasing focus on closing wage gaps. Reportedly, 79% of employers and job seekers support pay transparency for job listings. Hence, HR software providers are focusing on developing tools that can support employees manage compensation data, ensure internal pay equity, and maintain compliance with pay transparency laws.
- Various companies are increasing their spending on HR technology amid the growing focus on improving efficiency, automating time-consuming tasks, enhancing employee experience, and streamlining processes. The surging investments in HR technology to revolutionise recruitment through AI-powered platforms and foster data-driven decision-making are further creating lucrative human resource management market opportunities. Moreover, the rising demand for HR tech is expected to increase competition among major providers, leading to the development of customisable and advanced tools.
- With the growing emphasis on DEI among organisations, HR departments are revising their recruitment strategies to prioritise diversity and foster a culture of inclusivity. Key players are launching tools that can offer real-time visibility into the demographic composition of the workforce to HR professionals while simplifying the process of auditing workforce demographics. For instance, in October 2021, Ceipal launched an AI-driven solution to address diversity, equity, and inclusion (DEI) within an organisation’s workforce and across all talent acquisition sources.
Compound Annual Growth Rate
Value in USD Billion
10.5%
2025-2034
Human Resource Management Market Outlook
*this image is indicative*
Global Human Resource Management Market Growth
Advances in IT and the introduction of predictive analytics in HR procedures are anticipated to increase the human resource management market revenue. The evolution of multiple human resource management (HRM) has allowed practitioners to carry out traditional HR operations over a short period 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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The integration of HR software solutions, including Human Capital Management (HCM), Human Resource Information Systems (HRIS), and cloud-based platforms, is driving the human resource management demand growth. With organisations increasingly prioritising employee engagement and work-life balance, the demand for HRM solutions that can track and improve employee satisfaction, retention, and performance is increasing.
HR departments are focusing on Learning and Development (L&D) platforms to improve employee training and growth. With the rising demand for employee learning, the use of AI-driven platforms that deliver customised training based on individual career goals and learning styles is increasing.
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USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Key Trends and Recent Developments
Increasing focus on Diversity, Equity, and Inclusion (DEI); the growing trend of remote and hybrid work; and the rising integration of AI, ML, and blockchain in HR management tools are favouring the human resource management market expansion.
Increasing focus on Diversity, Equity, and Inclusion (DEI)
There is a growing focus on integrating Diversity, Equity, and Inclusion (DEI) practices in HR practices amid the rising demand for equitable and inclusive workplaces. HR technologies that reduce biases in performance evaluations, hiring, and promotions and promote skill-based assessments, blind recruitment, and bias-free decision-making are gaining popularity.
Growing trend of remote and hybrid work
The growing trend of hybrid and remote work is boosting the human resource management market revenue. Remote and hybrid work models require a result-oriented approach, boosting the adoption of performance management systems that track employees’ outcomes, such as project deliverables, KPIs, and goals, among others. Moreover, HR management platforms are evolving to manage flexible schedules, accommodate varying work hours, and track hours worked across different time zones.
Integration of AI and ML in human resource management
AI and ML technologies enable HR departments to streamline the recruitment process by automating resume screening and candidate sourcing. AI and machine learning models can analyse resumes and profiles from various sources, predict a candidate's potential success in a role based on historical data, and eliminate biases in the hiring process.
Surging adoption of blockchain
The growing adoption of blockchain aimed at enhancing security, transparency, and efficiency in HR processes is creating lucrative human resource management market opportunities. Blockchain allows HR departments to securely store and verify the educational credentials of employees, employment history, and professional certifications, among others.
Global Human Resource Management Market Trends
There is a growing demand for HR software that can monitor progress on inclusion goals, track diversity data, and report on pay equity and workplace representation amid the rising focus on diversity and inclusivity. With the surging demand for transparency in DEI efforts, HRM systems are increasingly incorporating features to report and track diversity metrics, such as ethnic diversity, gender representation, promotion rates, and pay equity across various departments.
AI and ML tools are increasingly used in HR management tools to assess employee engagement levels by analysing feedback, interactions, and behaviour. AI-powered HR management tools personalise the employee experience by offering tailored learning opportunities, content, and career development resources based on individual preferences and needs.
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Global Human Resource Management Industry Segmentation
The EMR’s report titled “Global Human Resource Management Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Component
- Core HR
- Recruiting
- Workforce Management
- Compensation and Payroll
- Services
- Professional Service
- Others (Learning, Appliany Tracking & Onboaring)
Market Breakup by Deployment Model
- Cloud
- On-Premises
Market Breakup by Industry Vertical
- Banking Financial Services and Insurance (BFSI)
- Retail
- IT and Telecommunication
- Healthcare
- Hospitality
- Government
- Manufacturing
- Others (Education, Transportation, Energy and Utilities and Media and Entertainment)
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Global Human Resource Management Market Share
As per the human resource management market analysis, cloud-based HRM solutions offer enhanced scalability and typically operate on a subscription or pay-per-use basis, enabling businesses to reduce upfront costs. Cloud-based systems operate on a subscription or pay-per-use basis, making them affordable for small and medium-sized enterprises (SMEs). Meanwhile, on-premise HRM solutions offer employee complete control over their HR data and IT infrastructure, offer higher levels of customisation, and require a one-time license fee. Organisations with an emphasis on compliance and security adopt on-premise HRM solutions.
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Competitive Landscape
Key human resource management market players are integrating machine learning, artificial intelligence, and automation into their platforms to streamline and automate processes such as talent development and employee performance management, among others. Human resource management companies are also shifting to cloud-based solutions to provide flexibility, scalability, and cost-effectiveness.
Cornerstone OnDemand, Inc.
Cornerstone OnDemand, Inc., headquartered in California, United States, and founded in 1999, is an AI-powered workforce agility platform. Through its platform, the company enables organisations to identify skills gaps and development opportunities, provide multimodal learning experiences, and retain and engage top talent to meet the diverse needs of the modern workforce.
Kronos Incorporated
Kronos Incorporated (UKG), established in 1977 and headquartered in Massachusetts, United States, is a global payroll and workforce management and HCM solutions. Boasting 80,000 customers of all sizes, geographic locations, and industries, the company’s payroll and workforce management, HR, and culture cloud solutions aim to drive enhanced workplace experiences.
ADP, LLC
ADP, LLC, headquartered in New Jersey, United States, is a leading provider of cloud-based Human Capital Management solutions and Business Process Outsourcing (BPO) services. The company unites payroll, HR, talent, time, tax, and benefits administration. It serves more than 1.1 million clients in over 140 countries.
Infor Inc.
Infor Inc., headquartered in New York, United States, and established in 2002, is a leader in industry-specific cloud-based enterprise software. Its cutting-edge technology combines machine learning, generative AI, and advanced analytics. Its solutions are employed by over 60,000 organisations across the world.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other key players in the human resource management market include IBM, Oracle Corp., and SAP SE, among others.
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
In 2024, the market reached an approximate value of USD 28.21 Billion.
The market is assessed to grow at a CAGR of 10.50% between 2025 and 2034.
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.
The market is estimated to witness healthy growth in the forecast period of 2025-2034 to reach a value of around USD 76.56 Billion by 2034.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| 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 |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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