Market Highlights
The global
Human Resources Management Software Market is expected to exhibit a robust 14 % CAGR over the forecast period from 2018 to 2023 , according to the latest research report from Market Research Future ( MRFR ). The global human resource management software market is analyzed in detail in the report , which presents a detailed outline of the market ’ s historical growth trends and further provides forecasts regarding the market ’ s likely growth trajectory over the forecast period . Leading players in the global human resource management software market are also profiled in the report to provide readers with a clear picture of the market ’ s competitive landscape .
Human resource management software has become a major component of the major corporate sector due to the growing demand for streamlined , centralized management of human resource management materials . The traditional stack of paperwork that represented human resource management jobs has been replaced in the modern world by online databases and artificial intelligence ( AI ), which has made the job of HR executives much easier and more streamlined . The centralized management of HR operations in human resource management software allows ease in cross-department operations , as all relevant data is stored on a single database . The automation of HR activities through human resource management software also eliminates the risk of manual error , thus making HR divisions more efficient and productive .
On the other hand , human resource management software developers are likely to focus exceedingly on the incorporation of robust security tools into the software in the coming years , as human resource management software presents a major security risk due to the large volume of personal employee information contained in the database . This is also likely to be a key factor in the human resource management software market ’ s growth over the forecast period .
The market for human resource management software has been segmented on the basis of deployment , organization size , solution , service , vertical , and region .
By deployment , the market is segmented into on-premise and on-cloud deployment .
By organization size , the human resource management software market is segmented into small & medium enterprises and large enterprises .
By solution , the HR management software market is segmented into workforce management , sourcing and recruitment , applicant tracking system , talent management , and others .
By service , the market is segmented into integration & deployment , support & maintenance , training & consulting .
By vertical , the human resource management software market is segmented into BFSI , IT & Telecom , public sector , manufacturing , retail , healthcare , transportation & logistics , and others .
Regional Analysis :