Global HR Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global HR Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

HR software naturally saves labor time for managers and HR staff through automation, but it also assists with HR processes that allow for better planning, budget management, and decision making. HR software makes it possible to see, for example, how many employees are needed at certain times of year based on historical data so that recruitment resources can be allocated and mobilized accordingly. There is a myriad of other ways that a company may benefit from relying on software rather than faulty and disorganized paper records.

Market Overview:

The latest research study on the global HR Software market finds that the global HR Software market reached a value of USD 22670.87 million in 2022. It’s expected that the market will achieve USD 42287.84 million by 2028, exhibiting a CAGR of 10.95% during the forecast period.

Region Overview:

In global comparison, a significant portion of the revenue was generated in North America (32.07% in 2022).

Company Overview:

Automatic Data Processing, Inc. is one of the major players operating in the HR Software market, holding a share of 7.16% in 2023.

Automatic Data Processing, Inc.

Automatic Data Processing, Inc. provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

The Ultimate Software Group, Inc.

The Ultimate Software Group, Inc. provides cloud-based human capital management solutions to enterprise companies, mid-market companies, and companies in the strategic market in the United States, Canada, Europe, the Asia Pacific, and internationally. Its UltiPro software solution delivers the functionality businesses need to manage the employee life cycle from recruitment to retirement.

Segmentation Overview:

Among different product types, Human Capital Management (HCM) segment is anticipated to contribute the largest market share in 2028.

Application Overview:

The market's largest segment by application is the segment Performance management/BI, with a market share of 25.05% in 2022.

Key Companies in the global HR Software market covered in Chapter 3:

Cornerstone OnDemand Inc
Taleo Corporation (Oracle)
Paycom Software, Inc
Ultimate Software Group,Inc
Halogen Software Inc.
Accenture Plc
Ceridian HCM Inc.
Workday, Inc
Kronos Incorporated
SumTotal Systems Inc.
ADP
Kenexa Corporation (IBM)
SuccessFactors (SAP)

In Chapter 4 and Chapter 14.2, on the basis of types, the HR Software market from 2018 to 2029 is primarily split into:

Human Resources Information Systems (HRIS)
Human Resources Management Systems (HRMS)
Human Capital Management (HCM)
Applicant Tracking Systems (ATS)
Payroll Software
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the HR Software market from 2018 to 2029 covers:

Recruiting
Training
Performance management/BI
Leadership/succession management
Core-HR
On Boarding
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)