Core Human Resource Software Market is anticipated to reach more than US$ 14,198.96 million by 2027, growing at a CAGR of +9% over the forecast period | Ceridian HCM, Inc, Automatic Data Processing (ADP), CoreHR, International Business Machine (IBM) Corporation

Core human resource software encompasses basic processes and information about the employees in an organization. It embraces personal information like birth dates, employee address, and social security numbers. Moreover, it also comprises compliances with government or organizational rules, enrollment in benefits like dental and vision, health, organizational structures, employee portal, self-service and payroll. The information obtained from the core human resource software like number of employees, job titles of the employees and their salaries are important for effective human resource management. For instance, in a workforce planning, a precise head count is required for projecting requirement of labor in coming years. Core human resource software is often referred to as human resource management systems for managing back end administrative human resource tasks and few elements that are essential to the regular business operation.

Major Key vendors for the Core Human Resource Software Market include Ceridian HCM, Inc, Automatic Data Processing (ADP), CoreHR, International Business Machine (IBM) Corporation, EmployWise, Oracle Corporation, Paycom Software, Inc., Paychex, Inc., SAP SE, Ultimate Software, SumTotal Systems, LLC. and Workday, Inc. among others.

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In terms of revenue, global Core Human Resource Software Market was valued at US$ 6,671.37 million in 2018 and is anticipated to reach more than US$ 14,198.96 million by 2027, growing at a CAGR of 8.82% over the forecast period.

Averseness in the adoption of human resource software is one of the major restraining factors in the global core human resource software market during the forecast period. Since there is lack of awareness of capabilities and newer technologies in the core human resource software market, various organizations are hesitating adoption of core human resource software. However, this factor is likely to have lower impact during the forecast period.

The report has been assembled through extensive primary research (through interviews, surveys and observations from experienced analysts) and secondary research (which covers reputable payment sources, trade journals and industry body databases). The report also includes a thorough qualitative and quantitative assessment by analyzing data collected from industry analysts and market participants at key points in the industry's value chain.

A separate analysis of trends prevailing in the main markets, macro- and micro-economic indicators, and regulations and mandates is included in the scope of the study. By doing this, the report estimates the attractiveness of each major segment during the forecast period.

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Core Human Resource Software Market Segmentation:

By Component
  • Software
    • Benefits and Claims
    • Payroll and Compensation Management
    • Personnel Management
    • Learning Management
    • Pension Management
    • Compliance Management
    • Succession Planning
    • Others
  • Services
    • Integration Services
    • Maintenance and Support
    • Consulting
Core Human Resource Software Market By Deployment
  • On-Premises
  • Cloud
By Organization Size
  • Small and Medium-Sized Enterprises(SMEs)
  • Large Enterprise
By Vertical
  • Government
  • Manufacturing
  • Energy and Utilities
  • Consumer Goods and Retail
  • Healthcare
  • Transportation and Logistics
  • Telecom and Information Technology
  • Banking, Financial Services and Insurance (BFSI)
  • Others
Core Human Resource Software Market By Region
  • North America
    • U.S.
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Finland
      • Iceland
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • New Zealand
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
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