Human Resource Management Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021-2026

 

Overview

Human Resource Management Market is forecast to reach $31.4 billion by 2025, after growing at a CAGR of 13.07% during 2020-2025. Owing to the advantages of using the HRM software in the organization including automation of manual HR activities, and analyzing the operational trends in the organization is accelerating the Human Resource Management market during the forecast period 2020-2025.

Key Takeaways

North America dominates the Human Resource Management market owing to adoption of new technologies including automation, cloud-based services and so on.

Large Enterprises hold the major market share as of 2018 and are analyzed to grow at a significant rate during the forecast period 2020-2025, attributed to the increased focus on efficiency and productivity through the solutions.

Increased demand for automation of systems in sourcing candidates as per job profile from IT & Telecom, retail and healthcare industries is analyzed to boost the market during the forecast period 2020-2025.

Deployment Model- Segment Analysis

On-premise deployment model is analyzed to hold a major share in 2018. The major market share is majorly attributed to the advantages of on premise deployment model including security, high customization and so on. In the high regulatory industries on premise deployment is employed as it provides more security when compared to cloud model as it does not necessarily use internet. However the shift of organizations to cloud model large data management is contributing to the significant growth rate of the on-cloud deployment model.

End User- Segment Analysis

IT and Telecom industry held major market share in 2018 and is further estimated to grow at a CAGR of 14.06%. HR solutions have revolutionized the IT and telecom industry by providing the organization with human resources information system,  automating payroll, employee recruiitment and management, reward management, human resource planning, performance management, workforce planning and analytics thereby helping in the improvement of productivity of organization. Further the use of software as a service is analyzed to elevate the market growth rate. Therefore the increasing developments such as investments, startups and so on for the deployment of human resource management software in the organizations owing to the advantages including productivity, efficiency are boosting the adoption rate of HRM across various industries such as healthcare, retail and so on.

Geography - Segment Analysis

North America dominated the HRM Software market with a market share of 36.4%, followed by APAC and Europe. The major market share is majorly due to the increased adoption of cloud technologies, automation and so on. Moreover the well-established economies of this region is also contributing to the major market share owing to the increased developments for the cloud model deployment. APAC is analyzed to grow at highest CAGR during the forecast period 2020-2025. The major factor contributing to the highest growth rate are the emerging economies such as China, India, South Korea and so on. Moreover the increasing government initiatives towards digitalization and adoption of cloud technologies are further elevating the growth of the Human Resource Management Market.

Location: United States

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