Core HR Software Market by Component (Software and Services), Deployment Type (On-Premises and Cloud), Organization Size (SMEs and Large Enterprises), Vertical, and Region - Global forecast to 2022

  • ID: 4231955
  • Report
  • Region: Global
  • 134 Pages
  • Markets and Markets
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The Core Human Resource (HR) Software Market is Expected to Grow from USD 6.47 Billion in 2017 to USD 9.89 Billion by 2022 at a CAGR of 8.8%

FEATURED COMPANIES

  • Ceridian HCM, Inc.
  • Corehr
  • Employwise, Inc.
  • Oracle Corporation
  • Paychex, Inc.
  • Paycom Software, Inc.
  • MORE

"Increasing in adoption of automation and focus on employee engagement and retention is driving the core Human Resource (HR) software market"

The core HR software market size is expected to grow from USD 6.47 billion in 2017 to USD 9.89 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 8.8%. Rise of the cloud and mobile deployment, and increase in automation in HR processes have led to the adoption of core HR software. Less understanding of technical integration of the software is one of the restraints for the core HR software market.

"The service component is expected to grow at the highest CAGR during the forecast period"

The service component is expected to grow at the highest CAGR during the forecast period, as services help organizations to easily deploy the software on their premises or on cloud. Vendors provide a complete range of services, such as integration services, support and maintenance, and consulting, and provide a single point of contact for all the help and assistance required.

"The large enterprises segment of the core HR software is expected to hold largest market size during the forecast period"

The market size of the core HR software is relatively high in case of the large enterprises, compared with Small and Medium-Sized Enterprises (SMEs). This is due to the affordability and high economies of scale that allow organizations to leverage the benefits of this software. The market is undergoing significant technological transitions, such as collaboration with social media, real-time solutions, and the usage of mobile devices. All these advancements are favorably welcomed and highly adopted by large organizations. Core HR software vendors help big enterprises by providing tools specially catered to them, such as the Unified Desktop, CRM Integration, and interaction analytics, to maintain a healthy communication between a large set of employees. Other than the HR functionality modules, such as recruitment and learning management, the software vendors offer custom-made HR suite in order to meet the needs of customers.

"Asia Pacific (APAC) is expected to have the highest growth rate during the forecast period"

The APAC region is an emerging economy, as it is witnessing dynamic changes in the adoption of new technologies. The APAC region comprises emerging economies, such as China, India, Japan, Singapore, Malaysia, and Australia. It is expected to have a major traction toward core HR software modules due to the rise in demand for organizing its huge workforce. This region is also facing issues, such as aging population and increasing number of multigenerational workforce, which are required to be managed. Therefore, core HR is becoming the hot topic as employee satisfaction and skill upgradation are important for an organization in the long run.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break profile of primary participants is as follows:

  • By Company: Tier 1 - 17%, Tier 2 - 47%, and Tier 3 - 36%
  • By Designation: C-level - 64%, Manager level - 30%, and Others - 6%
  • By Region: North America - 68%, Europe - 12%, APAC - 9%, MEA - 7%, and Latin America - 4%

The core HR software ecosystem comprises major vendors, such as Automatic Data Processing (ADP) (US), Ceridian HCM, Inc. (US), CoreHR (Ireland), EmployWise (India), International Business Machine (IBM) Corporation (US), Oracle Corporation (US), Paychex, Inc. (US), Paycom Software, Inc. (US), SAP SE (Germany), SumTotal Systems, LLC. (A Skillsoft Company) (US), Ultimate Software (US), and Workday, Inc. (US).

Research Coverage

The report includes in-depth competitive analysis of these key players in the core HR software market, with their company profiles, recent developments, and key market strategies. The research report segments the core HR software market by component, software, service, deployment type, organization size, industry vertical, and region.

Reasons to Buy the Report

The core HR software market has been segmented on the basis of components, software, services, deployment types, organization sizes, industry verticals, and regions. The report will help the market leaders/new entrants in this market in the following ways:

1. The report segments the core HR software market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments. The market numbers are further split across different verticals and regions.
2. The report helps the stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders better understand the competitors and gain more insights to better position their businesses. There is a separate section on competitive landscape, including competitor ecosystem, and mergers and acquisitions. Besides, there are company profiles of 12 players offering software in this market. In this section, market internals are provided that can put them ahead of the competitors.

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FEATURED COMPANIES

  • Ceridian HCM, Inc.
  • Corehr
  • Employwise, Inc.
  • Oracle Corporation
  • Paychex, Inc.
  • Paycom Software, Inc.
  • MORE
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Key Industry Insights
2.1.2.2 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.4 Vendor Dive Matrix
2.4.1 Vendor Dive Matrix: Weightage Criteria
2.4.2 Quadrant Description
2.5 Assumptions
2.6 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Core HR Software Market
4.2 Core HR Software Market, By Vertical and Region
4.3 Core HR Software Market, By Software
4.4 Core HR Software Regional Market
4.5 Life Cycle Analysis, By Region (2017)

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rise in Cloud and Mobile Deployment
5.2.1.2 Increase in Automation of HR Processes
5.2.2 Restraints
5.2.2.1 Reluctance to the Adoption of Core HR Software
5.2.3 Opportunities
5.2.3.1 Increase in the Adoption of Core HR By SMES
5.2.3.2 Organizations’ Inclination Toward HR Analytics
5.2.4 Challenges
5.2.4.1 Lack of Awareness of New Technologies and Capabilities in Core HR Software
5.2.4.2 Regional Difference in Labor Laws
5.3 Social, Mobility, Analytics, and Cloud

6 Core HR Software Market Analysis, By Component
6.1 Introduction
6.2 Software
6.3 Services

7 Core HR Software Market Analysis, By Software
7.1 Introduction
7.2 Benefits and Claims Management
7.3 Payroll and Compensation Management
7.4 Personnel Management
7.5 Learning Management
7.6 Pension Management
7.7 Compliance Management
7.8 Succession Planning

8 Core HR Software Market Analysis, By Service
8.1 Introduction
8.2 Integration Services
8.3 Maintenance and Support
8.4 Consulting Services

9 Core HR Software Market Analysis, By Deployment Type
9.1 Introduction
9.2 Cloud
9.3 On-Premises

10 Core HR Software Market Analysis, By Organization Size
10.1 Introduction
10.2 Small and Medium-Sized Enterprises
10.3 Large Enterprises

11 Core HR Software Market Analysis, By Vertical
11.1 Introduction
11.2 Government
11.3 Manufacturing
11.4 Energy and Utilities
11.5 Consumer Goods and Retail
11.6 Healthcare
11.7 Transportation and Logistics
11.8 Telecom and Information Technology
11.9 Banking, Financial Services, and Insurance
11.10 Others Verticals

12 Geographic Analysis
12.1 Introduction
12.2 North America
12.3 Europe
12.4 Asia Pacific
12.5 Middle East and Africa
12.6 Latin America

13 Competitive Landscape
13.1 Introduction
13.2 Strategic Benchmarking
13.2.1 Technology Integration and Product Enhancement
13.3 Vendor Dive Overview
13.3.1 Vanguards
13.3.2 Innovators
13.3.3 Dynamic
13.3.4 Emerging
13.4 Product Offerings
13.5 Business Strategies

14 Company Profiles
(Overview, Financials, Products & Services, Strategy, and Developments)*
14.1 Automatic Data Processing, LLC
14.2 Ceridian HCM, Inc.
14.3 Corehr
14.4 Employwise, Inc.
14.5 International Business Machines Corporation
14.6 Oracle Corporation
14.7 Paychex, Inc.
14.8 Paycom Software, Inc.
14.9 SAP SE
14.10 Sumtotal Systems, LLC (A Skillsoft Company)
14.11 Ultimate Software Group, Inc.
14.12 Workday, Inc.

*Details on Overview, Financials, Product & Services, Strategy, and Developments Might Not Be Captured in Case of Unlisted Companies.

15 Appendix
15.1 Industry Excerpts
15.2 Discussion Guide

List of Tables

Table 1 Core HR Software Market Size, 2015–2022 (USD Million)
Table 2 Core HR Software Market Size, By Component, 2015–2022 (USD Million)
Table 3 Core HR Software Market Size, By Software, 2015–2022 (USD Million)
Table 4 Core HR Software Market Size, By Service, 2015–2022 (USD Million)
Table 5 Core HR Software Market Size, By Software, 2015–2022 (USD Million)
Table 6 Benefits and Claims Management: Core HR Software Market Size, By Region, 2015–2022 (USD Million)
Table 7 Payroll and Compensation Management: Core HR Software Market Size,  By Region, 2015–2022 (USD Million)
Table 8 Personnel Management: Core HR Software Market Size, By Region,  2015–2022 (USD Million)
Table 9 Learning Management: Core HR Software Market Size, By Region,  2015–2022 (USD Million)
Table 10 Pension Management: Core HR Software Market Size, By Region, 2015–2022 (USD Million)
Table 11 Compliance Management: Core HR Software Market Size, By Region, 2015–2022 (USD Million)
Table 12 Succession Planning: Core HR Software Market Size, By Region, 2015–2022 (USD Million)
Table 13 Core HR Software Market, By Service, 2015–2022 (USD Million)
Table 14 Integration Services: Core HR Software Market Size, By Region, 2015–2022 (USD Million)
Table 15 Maintenance and Support: Core HR Software Market Size, By Region,  2015–2022 (USD Million)
Table 16 Consulting Services: Core HR Software Market Size, By Region, 2015–2022 (USD Million)
Table 17 Core HR Software Market, By Deployment Type, 2015–2022 (USD Million)
Table 18 Cloud: Core HR Software Market Size, By Region, 2015–2022 (USD Million)
Table 19 On-Premises: Core HR Software Market Size, By Region, 2015–2022 (USD Million)
Table 20 Core HR Software Market, By Organization Size, 2015–2022 (USD Million)
Table 21 Small and Medium-Sized Enterprises: Core HR Software Market Size,  By Region, 2015–2022 (USD Million)
Table 22 Large Enterprises: Core HR Software Market Size, By Region, 2015–2022 (USD Million)
Table 23 Core HR Software Market, By Vertical, 2015–2022 (USD Million)
Table 24 Government: Core HR Software Market Size, By Region, 2015–2022 (USD Million)
Table 25 Manufacturing: Core HR Software Market Size, By Region, 2015–2022 (USD Million)
Table 26 Energy and Utilities: Core HR Software Market Size, By Region, 2015–2022 (USD Million)
Table 27 Consumer Goods and Retail: Core HR Software Market Size, By Region,  2015–2022 (USD Million)
Table 28 Healthcare: Core HR Software Market Size, By Region, 2015–2022 (USD Million)
Table 29 Transportation and Logistics: Core HR Software Market Size, By Region, 2015–2022 (USD Million)
Table 30 Telecom and IT: Core HR Software Market Size, By Region, 2015–2022 (USD Million)
Table 31 Banking, Financial Services, and Insurance: Core HR Software Market Size, By Region, 2015–2022 (USD Million)
Table 32 Others Verticals: Core HR Software Market Size, By Region, 2015–2022 (USD Million)
Table 33 Core HR Software Market, By Region, 2015–2022 (USD Million)
Table 34 North America: Core HR Software Market Size, By Component, 2015–2022 (USD Million)
Table 35 North America: Core HR Software Market Size, By Software, 2015–2022 (USD Million)
Table 36 North America: Core HR Software Market Size, By Service, 2015–2022 (USD Million)
Table 37 North America: Core HR Software Market Size, By Deployment Type,  2015–2022 (USD Million)
Table 38 North America: Core HR Software Market Size, By Organization Size,  2015–2022 (USD Million)
Table 39 North America: Core HR Software Market Size, By Vertical, 2015–2022 (USD Million)
Table 40 Europe: Core HR Software Market Size, By Component, 2015–2022 (USD Million)
Table 41 Europe: Core HR Software Market Size, By Software, 2015–2022 (USD Million)
Table 42 Europe: Core HR Software Market Size, By Service, 2015–2022 (USD Million)
Table 43 Europe: Core HR Software Market Size, By Deployment Type, 2015–2022 (USD Million)
Table 44 Europe: Core HR Software Market Size, By Organization Size, 2015–2022 (USD Million)
Table 45 Europe: Core HR Software Market Size, By Vertical, 2015–2022 (USD Million)
Table 46 APAC: Core HR Software Market Size, By Component, 2015–2022 (USD Million)
Table 47 Asia Pacific: Core HR Software Market Size, By Software, 2015–2022 (USD Million)
Table 48 Asia Pacific: Core HR Software Market Size, By Service, 2015–2022 (USD Million)
Table 49 Asia Pacific: Core HR Software Market Size, By Deployment Type, 2015–2022 (USD Million)
Table 50 Asia Pacific: Core HR Software Market Size, By Organization Size, 2015–2022 (USD Million)
Table 51 Asia Pacific: Core HR Software Market Size, By Vertical, 2015–2022 (USD Million)
Table 52 MEA: Core HR Software Market Size, By Component, 2015–2022 (USD Million)
Table 53 Middle East and Africa: Core HR Software Market Size, By Software,  2015–2022 (USD Million)
Table 54 Middle East and Africa: Core HR Software Market Size, By Service,  2015–2022 (USD Million)
Table 55 Middle East and Africa: Core HR Software Market Size, By Deployment Type, 2015–2022 (USD Million)
Table 56 Middle East and Africa: Core HR Software Market Size, By Organization Size, 2015–2022 (USD Million)
Table 57 Middle East and Africa: Core HR Software Market Size, By Vertical,  2015–2022 (USD Million)
Table 58 Latin America: Core HR Software Market Size, By Component, 2015–2022 (USD Million)
Table 59 Latin America: Core HR Software Market Size, By Software, 2015–2022 (USD Million)
Table 60 Latin America: Core HR Software Market Size, By Service, 2015–2022 (USD Million)
Table 61 Latin America: Core HR Software Market Size, By Deployment Type,  2015–2022 (USD Million)
Table 62 Latin America: Core HR Software Market Size, By Organization Size,  2015–2022 (USD Million)
Table 63 Latin America: Core HR Software Market Size, By Vertical, 2015–2022 (USD Million)

List of Figures

Figure 1 Core HR Software Market: Research Design
Figure 2 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Quadrant Description
Figure 7 Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 8 The Adoption Rate of Core HR Software is Expected to Grow at A Higher CAGR in Small and Medium-Sized Enterprises
Figure 9 Consumer Goods and Retail Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 10 Integration Services Segment is Expected to Dominate the Market Size in the Services Market During the Forecast Period
Figure 11 North America is Expected to Lead the Market Size of the Core HR Software Market, Followed By Europe
Figure 12 Popularity of Cloud and Mobility Technologies are the Factors Contributing to the Growth of the Core HR Software Market
Figure 13 Government Vertical and North America Region Hold the Largest Market Shares in 2017
Figure 14 Succession Planning Software Segment is Expected to Grow at the Highest CAGR in the Core HR Software Market By 2022
Figure 15 Asia Pacific is Expected to Grow at the Highest CAGR During  2017– 2022
Figure 16 Middle East and Africa, and Asia Pacific are High Growing Regions in the Core HR Software Market
Figure 17 Core HR Software Market Evolution
Figure 18 Core HR Software Market: Drivers, Restraints, Opportunities, and Challenges
Figure 19 Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 20 Succession Planning Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 21 Integration Services Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 22 Cloud Deployment Type is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 23 Small and Medium-Sized Enterprises Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 24 Consumer Goods and Retail Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 25 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 26 Regional Snapshot: Asia Pacific is Expected to Grow at the Highest CAGR in the Core HR Software Market
Figure 27 North America: Market Snapshot
Figure 28 Services Segment is Expected to Grow at A Higher CAGR in North America During the Forecast Period of 2015–2022
Figure 29 Services Segment is Expected to Grow at A Higher CAGR in Europe During the Forecast Period of 2015–2022
Figure 30 Asia Pacific: Market Snapshot
Figure 31 Services Segment is Expected to Grow at A Higher CAGR in Asia Pacific During the Forecast Period of 2015–2022
Figure 32 Software Segment is Expected to Grow at A Higher CAGR in Middle East and Africa During the Forecast Period of 2015–2022
Figure 33 Software Segment is Expected to Grow at A Higher CAGR in Latin America During the Forecast Period of 2015–2022
Figure 34 Dive Chart
Figure 35 Automatic Data Processing, LLC: Company Snapshot
Figure 36 Automatic Data Processing, LLC: Product Offering Scorecard
Figure 37 Automatic Data Processing, LLC: Business Strategy Scorecard
Figure 38 Ceridian HCM, Inc.: Product Offering Scorecard
Figure 39 Ceridian HCM, Inc.: Business Strategy Scorecard
Figure 40 Corehr: Product Offering Scorecard
Figure 41 Corehr: Business Strategy Scorecard
Figure 42 Employwise, Inc.: Product Offering Scorecard
Figure 43 Employwise, Inc.: Business Strategy Scorecard
Figure 44 International Business Machines Corporation: Company Snapshot
Figure 45 International Business Machines Corporation: Product Offering Scorecard
Figure 46 International Business Machines Corporation: Business Strategy Scorecard
Figure 47 Oracle Corporation: Company Snapshot
Figure 48 Oracle Corporation: Product Offering Scorecard
Figure 49 Oracle Corporation: Business Strategy Scorecard
Figure 50 Paychex, Inc.: Company Snapshot
Figure 51 Paychex, Inc.: Product Offering Scorecard
Figure 52 Paychex, Inc.: Business Strategy Scorecard
Figure 53 Paycom Software, Inc.: Company Snapshot
Figure 54 Paycom Software, Inc.: Product Offering Scorecard
Figure 55 Paycom Software, Inc.: Business Strategy Scorecard
Figure 56 SAP SE: Company Snapshot
Figure 57 SAP SE: Product Offering Scorecard
Figure 58 SAP SE: Business Strategy Scorecard
Figure 59 Sumtotal Systems, LLC: Product Offering Scorecard
Figure 60 Sumtotal Systems, LLC: Business Strategy Scorecard
Figure 61 Ultimate Software Group, Inc.: Company Snapshot
Figure 62 Ultimate Software Group, Inc.: Product Offering Scorecard
Figure 63 Ultimate Software Group, Inc.: Business Strategy Scorecard
Figure 64 Workday, Inc.: Company Snapshot
Figure 65 Workday, Inc.: Product Offering Scorecard
Figure 66 Workday, Inc.: Business Strategy Scorecard
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  • Automatic Data Processing, LLC
  • Ceridian HCM, Inc.
  • Corehr
  • Employwise, Inc.
  • International Business Machines Corporation
  • Oracle Corporation
  • Paychex, Inc.
  • Paycom Software, Inc.
  • SAP SE
  • Sumtotal Systems, LLC (A Skillsoft Company)
  • Ultimate Software Group, Inc.
  • Workday, Inc.
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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