Human Resources Management (HRM) Software Market Projected to Hit USD 33.40 Billion at a 12.2% CAGR by 2030- Report by Market Research Future (MRFR)

Market Research Future Insights

According to MRFR analysis, the global Human Resources Management market is expected to register a CAGR of ~12.2% from 2022 to 2030 and hold a value of over USD 33.40 billion by 2030.

Human Resources Management (HRM) software refers to a set of digital tools and applications designed to streamline and automate various HR functions, such as recruitment, payroll, performance management, benefits administration, and employee data management. The HRM software market has experienced significant growth in recent years, owing to the increasing adoption of digital technologies in the HR industry and the need for more efficient and cost-effective HR operations.

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The COVID-19 pandemic has had a significant impact on the HRM software market. With remote work becoming the new norm, many organizations have had to accelerate their digital transformation efforts and adopt cloud based HRM software solutions to support their remote workforce. The pandemic has also led to an increased focus on employee wellbeing, which has resulted in a growing demand for HRM software solutions that can help organizations monitor and support employee mental health and wellbeing.

Global Human Resources Management Market: The Human Resources Management market is driven by the increasing need for efficient HR processes and workforce management in organizations with a healthy CAGR of ~12.2% during the forecast period of 2022 to 2030.

Regional Analysis

The global HRM software market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the largest market for HRM software, owing to the high adoption of digital technologies in the region and the presence of several prominent HRM software vendors.

Europe is also a significant market for HRM software, driven by the increasing need for more efficient HR operations and compliance with GDPR regulations. The Asia Pacific region is expected to witness significant growth in the HRM software market, owing to the increasing adoption of cloud based HRM solutions in emerging economies such as India and China.

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Key Players

Some of the market key players are

• Gusto
• Microsoft
• AP
• Sage
• Talentsoft
• Oracle
• ADP
• Workday
• Kronos
• IBM

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Market Segmentation

The Global Human Resources Management market has been segmented into Vertical, Organization Size, Service and Deployment.

Based on Vertical: BFSI and Healthcare

Based on Organization Size: Large Enterprises, Small and Medium Enterprises

Based on Service: Integration and Deployment

Based on Deployment: On-Cloud and On-Premises

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