San Francisco, California, June 22, 2017 : Increased automation in human resources (HR) processes and the rise of the cloud and mobile deployment are two of the primary factors that will pave a prosperous future for the global core HR software market, as per the findings of a recent report by TMR Research. The report detects that the adoption rate of core HR software as escalated among the small- and medium-sized enterprises (SMEs) in the recent past, a pattern that is expected to continue during the forecast period of the report, which is 2017 to 2025.
The report, titled “Core HR Software Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” has been prepared to serve as a credible business tool for the stakeholders of the core HR software market, such as small- and medium-sized enterprises, commercial users, and industrial companies. The report presents detailed assessment of all major factors that may influence the demand for core HR software in the near future, and provides projections pertaining to the state of the market in 2025. To represent a thorough analysis of the competitive landscape, the report contains profiles of a number of companies operating in the global core HR software market, studying their products as well as recent strategic decisions.
The TMR report highlights that the global market for core HR software has reinvented itself in the recent past with the ubiquity of smart phones and development of mobile apps. Now, highly analytical software are available to gauge the issues inside an organization. These software are particularly helpful in handling a team-centric management required by a large sized organization.
Based on component, the global core HR software market can be segmented into software and services. While software-wise, the market can be classified into benefits and claims management, payroll and compensation management, pension management, compliance management, and succession planning, whereas on the basis of services, the market can be bifurcated into integration services, maintenance and support, and consulting. On the basis of vertical, the market for core HR software can be categorized into government, manufacturing, energy and utilities, consumer goods and retail, healthcare, transportation and logistics, telecom and information technology (IT), banking, financial services, and insurance (BFSI), and others.
Geographically, the North America remains the most profitable region in the core HR software market, gaining most of the demand from the U.S. wherein adoption of new technology is high and added emphasis is now given to cloud platform. Several emerging players as well as startups with niche ideas in the region are offering customized, differentiated, and flexible products to meet the demand of HR professionals.
Some of the leading companies in the global core HR software market are International Business Machine (IBM) Corporation, ADP, CoreHR, Ceridian HCM, Inc. EmployWise, Oracle Corporation, Paycom Software, Inc., Paychex, Inc. SAP SE, Workday, Inc., and SumTotal Systems, LLC.