Market Scenario
Core HR software is used to manage employee information that can be easily accessed via a centralized HR database. The HR database generally consists of employee’s personal information, benefits enrolment, and income tax withholding. Core HR software includes employee self-portal, which enables them to edit and view their personal details, which can also be used for lack of tracking of employees.
According to Market Research Future (MRFR), the global Core HR Software Market Research Report is expected to grow at USD 11 billion with a CAGR of 9% from 2017 to 2023 (forecast period). The report identifies the strengths, opportunities, threats, and future business risks and offers an informative overview of the global market environment with the results of COVID-19.
COVID-19 Analysis:
The business impact of SARS-CoV-2 has been felt across diverse sections of the information technology industry, albeit at different levels. Companies in the technology sector that supply services for verticals like travel, retail, hospitality, and entertainment have noted a dramatic decrease in sales, while the firms that provide services related to remote worker solutions have observed the opposite. Core HR Software Market Research Report fate post pandemic has been relatively less grim compared to Education Services (ES) and Professional Services (PS) that are mostly dependent on components that are generally on-site. Novel coronavirus has Core HR Software Market Research Report to open new avenues for those firms that are on the lookout for solutions that are reliable, efficiently managed, scalable, and are subscription-based, to remain more focused on the core business. The Core HR Software Market Research Report is bearing lesser impact of the COVID-19 outbreak compared to most other segments of the tech world.
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Segmentation:
The global core HR software market has been segmented on the basis of component, deployment, and vertical.
By component, the global core HR software market has been segmented into software and service. The software segment is further divided into benefits and claim management, payroll and compensation management, personnel management, learning management, pension management, compliance management, and others. The service segment is further divided into integration services, maintenance and support, and consulting services.
By deployment, the global core HR software market has been segmented into the cloud and on-premises.
By vertical, the global core HR software market has been segmented into BFSI, healthcare, transportation, manufacturing, retail, and government. Core HR software is gaining significant traction owing to increasing adoption by all these verticals.
Competitive Outlook
The industry giants in the core HR software market are Automatic Data Processing (U.S.), Ceridian HCM, Inc. (U.S.), CoreHR (Ireland), Employees (India), IBM Corporation (U.S.), Oracle Corporation (U.S.), Paychex, Inc. (U.S.), Paycom Software, Inc. (U.S.), Sap SE (Germany), and Workday, Inc. (U.S.) among others.
Regional Analysis:
The regional analysis of the global core HR software market is being studied for regions such as Asia Pacific, North America, Europe, and the Rest of the World.
It has been reported that North America is expected to have the largest market share, while Asia Pacific is projected to rise at the fastest pace during the forecast period. The significant growth in North America's core HR software market is due to technological advances and rapid growth in the use of HR software in that region.
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Table of Contents:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
Continued….
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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