Core HR Software Market

Core HR Software Market by Component (Software (Learning Management, Payroll & Compensation Management, Benefits & Claims Management) and Services) Deployment Type, Vertical (Government, BFSI, Manufacturing) and Region - Global Forecast to 2028

Report Code: TC 5226 Aug, 2023, by marketsandmarkets.com

[234 Pages Report] The core HR software market size is expected to grow from USD 10.7 billion in 2023 to USD 15.1 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 7.0% during the forecast period. As technology advanced, core HR software prioritized user-friendly interfaces, self-service functionality, and mobile apps to empower employees. AI and predictive analytics empower talent acquisition, retention strategies, and improved workforce planning. Today, core HR software is characterized by its focus on intelligent automation, leveraging AI and machine learning to automate routine tasks, enhance employee engagement, and provide strategic insights. The journey of core HR software reflects a continuous evolution from the automation of basic functions to the sophisticated, interconnected systems that empower organizations to manage their workforce efficiently and strategically in the modern business landscape.

Core HR Software Market

To know about the assumptions considered for the study, Request for Free Sample Report

Core HR Software Market

To know about the assumptions considered for the study, download the pdf brochure

Recession Impact on the Core HR software market

The global recession caused by factors such as the Russia-Ukraine war, the pandemic, inflation, rising interest rates, and oil prices have reduced spending by organizations, which may affect the demand for core HR software across industries in the short term. The convergence of the ongoing recession, the Russia-Ukraine conflict, rising oil prices, and the global COVID-19 pandemic have significantly shaped the core HR software market landscape. These complex and interrelated events have ushered in a series of challenges and opportunities for HR technology. The recession and economic uncertainties have prompted organizations to reevaluate their budgets and priorities, potentially affecting software adoption and upgrades. The Russia-Ukraine conflict has highlighted the importance of robust HR systems in managing cross-border teams and ensuring employee safety. Simultaneously, the volatility of oil prices has underscored the need for agile workforce planning and cost optimization, which core HR software with advanced analytics can facilitate. The pandemic has brought about an unprecedented shift to remote work and has underscored the importance of HR software that supports virtual onboarding, collaboration, and employee engagement.

Core HR software market Dynamics

Driver:  Demand for centralization and automation of routine HR processes to reduce manual errors

Centralization and automation are revolutionizing the core HR software market, reshaping how organizations manage human resources. Traditionally, HR processes were fragmented, with data scattered across various systems and manual workflows, leading to inefficiencies and data inconsistencies. However, with the advent of core HR software, all HR-related functions, including employee records, payroll, benefits, and performance management, are consolidated into a unified platform. This centralization streamlines HR operations, enabling a holistic view of workforce data, which fosters informed decision-making and strategic planning. Moreover, automation eliminates repetitive, time-consuming tasks, freeing HR professionals to focus on strategic initiatives and employee engagement. Routine processes like onboarding, leave management, and performance reviews are now automated, reducing errors and ensuring consistent implementation. As a result, organizations experience improved efficiency, reduced administrative overheads, and enhanced compliance with regulations. The transformative impact of centralization and automation in the core HR software market is evident in the way businesses can now harness the power of data-driven insights, foster a more engaged workforce, and align HR strategies with overall organizational goals, ultimately leading to greater competitiveness and success in today’s dynamic business landscape.

Restraint: High cost of implementation of core HR software among SMEs

The cost of implementing core HR software has become a significant factor restraining its adoption, particularly for small and medium-sized enterprises (SMEs). Implementation expenditure includes software licensing fees, customization, data migration, employee training, and ongoing maintenance costs. Additionally, a report by Sierra-Cedar on HR tech spending in 2021 revealed that the cost of implementing core HR software could range from tens of thousands to millions of dollars, depending upon the size and complexity of the organization. Such expenditures can be prohibitive for SMEs with limited budgets, deterring them from upgrading their HR systems. Moreover, some companies fear that the return on investment may not be realized in the short term, making them reluctant to invest in such technology. As a result, many organizations continue to rely on legacy systems or manual processes, hindering their ability to streamline HR operations, improve data accuracy, and enhance employee experiences. Addressing the cost challenges and providing more flexible pricing models could potentially unlock the untapped potential of core HR software adoption across various business sectors.

Opportunity: Growing adoption of AI and automation for transforming HR processes

AI and automation are revolutionizing the core HR software market, offering tremendous opportunities for enhancing HR processes and workforce management. AI-driven algorithms are transforming candidate assessment by analyzing vast data to identify the best-fit candidates, reducing the time to hire, and improving the quality of hires. For instance, a leading recruitment software provider, HireVue, reported a 32% increase in hiring efficiency and a 17% reduction in employee turnover for companies using their AI-powered video interviewing platform. Automation streamlines routine HR tasks such as onboarding, benefits administration, and leave management, allowing HR teams to focus on strategic initiatives and employee development. A case in point is Workday, whose core HR platform has helped companies achieve an 18% reduction in administrative time, leading to significant cost savings and improved productivity. AI and automation create exciting opportunities for core HR software, enabling organizations to build a more agile, data-driven, and employee-centric workforce.

Challenge: Privacy and security concerns over the implementation of core HR software

Core HR software contains many sensitive employee information, such as personal details, payroll data, performance evaluations, and other confidential records. As organizations transition from traditional paper-based HR processes to digital platforms, the potential risks of data breaches and privacy violations become more pronounced. Ensuring robust data security measures to protect against unauthorized access, data breaches, and cyber threats is paramount. Compliance with data protection regulations, such as GDPR and CCPA, adds a layer of complexity, especially for multinational organizations operating in different jurisdictions. The consequences of data security breaches can be severe, leading to reputational damage, legal liabilities, and financial losses. Consequently, organizations and software providers must invest in robust encryption, access controls, regular security audits, and employee training to mitigate data security and privacy risks and build trust among users to encourage the adoption of core HR software.

The services segment is projected to witness the highest CAGR during the forecast period based on components.

The need for professional services such as integration and & implementation, maintenance and & support, and consulting is paramount. Integration and & implementation services are crucial in ensuring a seamless adoption of core HR software within an organization’s infrastructure. These services involve configuring the software to align with specific business processes, integrating it with other essential systems, and facilitating a smooth transition to the new technology. As organizations increasingly recognize the strategic value of core HR software, consulting services become vital for guiding them through strategic decisions, best practices, and customization options tailored to their unique needs. Maintenance and & support services provide ongoing assistance, troubleshooting, and updates, enabling businesses to maximize the software’s performance and stay up-to-date with evolving industry regulations and technological advancements. In an era where HR operations are intricately linked to digital solutions, these professional services’ expertise and guidance significantly optimize the efficiency, effectiveness, and long-term success of core HR software implementations.

By Vertical, the consumer goods & retail segment is expected to grow at the highest CAGR during the forecast period.

Core HR software plays a significant role in the consumer goods and & retail industry vertical by revolutionizing human resources management and addressing the unique challenges faced by companies in this sector. The consumer goods and & retail industry vertical is characterized by a large and diverse workforce, high turnover rates, seasonal fluctuations, and a constant need to meet customer demands. Core HR software streamlines the recruitment process, making it easier for consumer goods and & retail companies to attract top talent, manage job postings, and quickly fill positions, especially during peak seasons. The system also helps track and manage applicant data efficiently, enhancing the overall hiring experience for candidates and recruiters. In an industry that often experiences seasonal peaks and valleys, core HR software aids in effective workforce management. Companies can better forecast staffing needs, manage temporary hires, and schedule shifts to meet customer demands during busy periods. In the retail industry, employee retention is essential. Core HR software helps measure employee engagement, gather feedback, and implement strategies to improve workplace satisfaction, reducing turnover rates and increasing employee loyalty.

Based on Region, North America holds the largest market share during the forecast period.

The core HR software market is critical in the North American region, significantly impacting how businesses manage their human resources functions. The core HR software market is robust and continuously evolving in North America, which comprises the USnited States and Canada. The region’s large and diverse corporate landscape, ranging from small and medium-sized enterprises (SMEs) to multinational corporations, creates substantial demand for such solutions. Moreover, North America also has complex and ever-changing labor laws and regulations. The core HR software helps organizations comply with these laws by accurately managing payroll, tax calculations, and reporting. The adoption of cloud-based core HR software is rising in the region due to its flexibility, scalability, and cost-effectiveness. Cloud solutions enable easy access to HR data, even for remote or distributed teams.

Further, companies in North America are placing a higher emphasis on employee experience and satisfaction. Core HR software facilitates seamless onboarding, employee self-service portals, and real-time access to information, enhancing the overall employee experience. Lastly, the core HR software in North America is competitive, with numerous established vendors and emerging players offering a range of solutions. This competition drives innovation and ensures businesses access cutting-edge features and functionalities.

Core HR Software Market Size, and Share

Key Market Players

The core HR software market is dominated by a few globally established players such as Workday (US), SAP (Germany), ADP (US), UKG (US), and Oracle (US),  among others, are the key vendors that secured core HR software contracts in last few years. These vendors can bring global processes and execution expertise; the local players only have local expertise. Driven by increased disposable incomes, easy access to knowledge, and fast adoption of technological products, buyers are more willing to experiment/test new things in the core HR software market.

Get online access to the report on the World's First Market Intelligence Cloud

  • Easy to Download Historical Data & Forecast Numbers
  • Company Analysis Dashboard for high growth potential opportunities
  • Research Analyst Access for customization & queries
  • Competitor Analysis with Interactive dashboard
  • Latest News, Updates & Trend analysis
Request Sample

Scope of the Report

Report Metrics

Details

Market size available for years

2018–2028

Base year considered

2022

Forecast period

2023–2028

Forecast units

Value (USD Million/Billion)

Segments Covered

Component, Software, Services, Deployment Type, Vertical, and Region

Regions covered

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America

Companies covered

Workday (US), SAP (Germany), ADP (US), UKG (US), Oracle (US), Ceridian (US), IBM (US), Paycom (US), Paylocity (US), and Cornerstone OnDemand (US), Visma (US), Access Group (US), Paychex(US), EmployWise (India), HrOne (India), greytHR(India), PeopleStrong (India), Personio (Germany), Sprout Solutions (Philippines), Darwinbox (India), ServiceNow (US), HiBob (US), APS Payroll (US), BambooHR(US), Paycor (US), Zoho (India), Namely (US), Gusto (US), and Rippling (US).

This research report categorizes the core HR software market to forecast revenue and analyze trends in each of the following submarkets:

Based on Component:
  • Software
  • Services
Based on Software:
  • Benefits & Claims Management
  • Payroll & Compensation Management
  • Personnel Management
  • Learning Management
  • Pension Management
  • Compliance Management
  • Other Software
Based on Services:
  • Implementation & Integration
  • Maintenance & Support
  • Consulting
Based on Deployment Type:
  • Cloud
  • On-premises
Based on Vertical:
  • Government
  • Manufacturing
  • Energy & Utilities
  • Consumer Goods & Retail
  • Healthcare
  • Transportation & Logistics
  • IT & Telecom
  • BFSI
  • Other Verticals
Based on Region:
  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • Rest of Asia Pacific
  • Middle East & Africa
    • KSA
    • UAE
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America

Recent Developments:

  • In June 2023, Workday announced the expansion of its partnership with Samsung SDS, a system integrator and cloud-based HR technology provider, to drive business and deliver unified HCM for HR professionals in the region.
  • In June 2023, UKG acquired Immedis, a workforce management, and HR payroll solution provider, to transform the global payroll landscape by launching UKG One View, a multi-country payroll solution.
  • In April 2023, Oracle announced enhancements to Oracle ME, an employee experience platform, Oracle Grow, an innovative AI-driven offering that unifies learning, skill development, and career advancement into a personalized journey, empowering individuals to pursue self-guided learning opportunities.
  • In March 2023, Ceridian announced that Center Parcs UK & Ireland chose Dayforce to enhance its workforce efficiency, boost employee engagement, and ensure regulatory compliance. With Dayforce’s extensive workforce management features, including time and attendance tracking, intelligent scheduling, task management, and people analytics, Center Parcs aims to empower and retain its front-line workers effectively.
  • In October 2022, ADP announced the launch of Voice of the Employee, an employee survey solution to help employers to collect employee feedback throughout the employee lifecycle and improve the employee workplace experience.
  • In October 2021, SAP announced SAP SuccessFactors Opportunity Marketplace, a new solution that connects workers with individualized recommendations to fuel personal growth and development and increase organizational agility.

Frequently Asked Questions (FAQ):

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 34)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 MARKET SCOPE 
           1.3.1 MARKET SEGMENTATION
           1.3.2 REGIONS COVERED
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY CONSIDERED 
           TABLE 1 UNITED STATES DOLLAR EXCHANGE RATE, 2015–2022
    1.5 STAKEHOLDERS 
    1.6 SUMMARY OF CHANGES 
 
2 RESEARCH METHODOLOGY (Page No. - 40)
    2.1 RESEARCH DATA 
           FIGURE 1 CORE HR SOFTWARE MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
           2.1.2 PRIMARY DATA
                    2.1.2.1 Breakup of primary profiles
                               FIGURE 2 BREAKUP OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION,  AND REGION
                    2.1.2.2 Key industry insights
    2.2 MARKET BREAKUP AND DATA TRIANGULATION 
           FIGURE 3 DATA TRIANGULATION
    2.3 MARKET SIZE ESTIMATION 
           FIGURE 4 CORE HR SOFTWARE MARKET: TOP-DOWN AND BOTTOM-UP APPROACHES
           FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY – APPROACH 1 (SUPPLY SIDE): REVENUE OF CORE HR SOFTWARE FROM VENDORS
           FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH (SUPPLY SIDE): COLLECTIVE REVENUE OF CORE HR SOFTWARE VENDORS
           FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY – (DEMAND SIDE)
           FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY – (SUPPLY SIDE):  CAGR PROJECTIONS FROM SUPPLY SIDE
           FIGURE 9 MARKET SIZE ESTIMATION METHODOLOGY – APPROACH 2 (DEMAND SIDE): REVENUE GENERATED FROM CORE HR SOFTWARE COMPONENT
    2.4 MARKET FORECAST 
           TABLE 2 FACTOR ANALYSIS
    2.5 RESEARCH ASSUMPTIONS 
           TABLE 3 RESEARCH ASSUMPTIONS
    2.6 RESEARCH LIMITATIONS 
 
3 EXECUTIVE SUMMARY (Page No. - 52)
    FIGURE 10 FASTEST-GROWING SEGMENTS IN CORE HR SOFTWARE MARKET, 2023–2028 
    FIGURE 11 SOFTWARE SEGMENT TO BE LARGER MARKET DURING FORECAST PERIOD 
    FIGURE 12 LEARNING MANAGEMENT SEGMENT TO BE LARGEST MARKET DURING FORECAST PERIOD 
    FIGURE 13 IMPLEMENTATION & INTEGRATION SERVICES SEGMENT TO BE LARGEST DURING FORECAST PERIOD 
    FIGURE 14 CLOUD SEGMENT TO BE LARGER DURING FORECAST PERIOD 
    FIGURE 15 GOVERNMENT VERTICAL SEGMENT TO BE LARGEST DURING FORECAST PERIOD 
    FIGURE 16 MARKET REGIONAL SNAPSHOT 
 
4 PREMIUM INSIGHTS (Page No. - 59)
    4.1 OVERVIEW OF CORE HR SOFTWARE MARKET 
           FIGURE 17 ONGOING DIGITAL TRANSFORMATION AND RISE IN ADOPTION OF REMOTE WORKING MODELS TO DRIVE GROWTH OF MARKET
    4.2 MARKET, BY COMPONENT, 2023 VS. 2028 
           FIGURE 18 SOFTWARE SEGMENT EXPECTED TO BE LARGER DURING FORECAST PERIOD
    4.3 MARKET, BY SOFTWARE, 2023 VS. 2028 
           FIGURE 19 LEARNING MANAGEMENT SOFTWARE SEGMENT TO BE LARGEST DURING FORECAST PERIOD
    4.4 MARKET, BY SERVICES, 2023 VS. 2028 
           FIGURE 20 IMPLEMENTATION & INTEGRATION SEGMENT TO BE LARGEST DURING FORECAST PERIOD
    4.5 MARKET, BY DEPLOYMENT TYPE,  2023 VS. 2028 
           FIGURE 21 CLOUD SEGMENT TO BE LARGER DURING FORECAST PERIOD
    4.6 MARKET, BY VERTICAL, 2023 VS. 2028 
           FIGURE 22 GOVERNMENT VERTICAL TO BE LARGEST DURING FORECAST PERIOD
    4.7 CORE HR SOFTWARE MARKET: REGIONAL SCENARIO, 2023–2028 
           FIGURE 23 ASIA PACIFIC TO EMERGE AS BEST MARKET FOR INVESTMENTS IN CORE HR SOFTWARE DURING NEXT FIVE YEARS
 
5 MARKET OVERVIEW AND INDUSTRY TRENDS (Page No. - 63)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 24 MARKET DYNAMICS: CORE HR SOFTWARE MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Need for improved compliance and risk management to adhere to employment laws and regulations
                    5.2.1.2 Analytics and reporting capabilities enable data-driven decisions
                               FIGURE 25 PROGRESS IN REPORTING AND ANALYTICS CAPABILITIES IN HR
                    5.2.1.3 Demand for centralization and automation of routine HR processes to reduce manual errors
           5.2.2 RESTRAINTS
                    5.2.2.1 High cost of implementation of core HR software for SMEs
                               FIGURE 26 FACTORS RESTRAINING TECH ADOPTION IN HR
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Growing adoption of AI and automation for transforming HR processes
                    5.2.3.2 Adoption of remote working models to boost adoption of core HR software
                               FIGURE 27 UTILIZATION OF HR TECHNOLOGY TO BETTER MANAGE REMOTE WORK
                    5.2.3.3 Rapid adoption of cloud-based HR software to improve efficiency and scalability
                               FIGURE 28 HR TECHNOLOGY MODEL, 2020 VS. 2023
           5.2.4 CHALLENGES
                    5.2.4.1 Interactive training for infrequent users of core HR software
                    5.2.4.2 Privacy and security concerns over implementation of core HR software
    5.3 CASE STUDY ANALYSIS 
           5.3.1 CASE STUDY 1: REAL-TIME DATA VISIBILITY ENABLED PVR CINEMAS TO OPTIMIZE STAFFING
           5.3.2 CASE STUDY 2: INDICA LABS CONSOLIDATED AND SECURED EMPLOYEE DATA AND STREAMLINED TIME-CONSUMING HR PROCESSES WITH BAMBOOHR
           5.3.3 CASE STUDY 3: MOD PIZZA PROVIDED EXCEPTIONAL EMPLOYEE EXPERIENCES WITH SAP SUCCESS FACTOR SOLUTIONS
           5.3.4 CASE STUDY 4: GANETT LEVERAGED CERIDIAN TO BOOST SCALABILITY, RESILIENCE, AND IMPROVE EMPLOYEE EXPERIENCE
                    5.3.4.1 Case Study 5: Paylocity enabled Crafton Tull to rebuild HR on firmer foundations
 
6 CORE HR SOFTWARE MARKET, BY COMPONENT (Page No. - 72)
    6.1 INTRODUCTION 
           6.1.1 COMPONENT: MARKET DRIVERS
                    FIGURE 29 CORE HR SERVICES SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
                    TABLE 4 MARKET, BY COMPONENT, 2018–2022 (USD MILLION)
                    TABLE 5 MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
    6.2 SOFTWARE 
           6.2.1 DEMAND FOR CENTRALIZING ADMINISTRATIVE TASKS
                    TABLE 6 SOFTWARE: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 7 SOFTWARE: MARKET, BY REGION, 2023–2028 (USD MILLION)
    6.3 SERVICES 
           6.3.1 OPTIMIZATION OF EFFECTIVENESS OF CORE HR SOFTWARE
                    TABLE 8 SERVICES: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 9 SERVICES: MARKET, BY REGION, 2023–2028 (USD MILLION)
 
7 CORE HR SOFTWARE MARKET, BY SOFTWARE (Page No. - 77)
    7.1 INTRODUCTION 
           7.1.1 SOFTWARE: MARKET DRIVERS
                    FIGURE 30 LEARNING MANAGEMENT SEGMENT TO BE LARGEST DURING FORECAST PERIOD
                    TABLE 10 MARKET, BY SOFTWARE, 2018–2022 (USD MILLION)
                    TABLE 11 MARKET, BY SOFTWARE, 2023–2028 (USD MILLION)
    7.2 BENEFITS & CLAIMS MANAGEMENT 
           7.2.1 SEAMLESS DESIGN, CUSTOMIZATION, AND COMMUNICATION OF BENEFITS
                    TABLE 12 BENEFITS & CLAIMS MANAGEMENT: CORE HR SOFTWARE MARKET,  BY REGION, 2018–2022 (USD MILLION)
                    TABLE 13 BENEFITS & CLAIMS MANAGEMENT: MARKET,  BY REGION, 2023–2028 (USD MILLION)
    7.3 PAYROLL & COMPENSATION MANAGEMENT 
           7.3.1 STRATEGIC PLANNING, ADMINISTRATION, AND PROCESSING OF COMPENSATION TO DRIVE MARKET
                    TABLE 14 PAYROLL & COMPENSATION MANAGEMENT: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 15 PAYROLL & COMPENSATION MANAGEMENT: MARKET, BY REGION, 2023–2028 (USD MILLION)
    7.4 PERSONNEL MANAGEMENT 
           7.4.1 ENHANCEMENT OF WORKFORCE PRODUCTIVITY, ENGAGEMENT, AND STRATEGIC DECISION-MAKING TO DRIVE MARKET
                    TABLE 16 PERSONNEL MANAGEMENT: MARKET, BY REGION,  2018–2022 (USD MILLION)
                    TABLE 17 PERSONNEL MANAGEMENT: MARKET, BY REGION,  2023–2028 (USD MILLION)
    7.5 LEARNING MANAGEMENT 
           7.5.1 CREATION, DELIVERY, AND MANAGEMENT OF EMPLOYEE TRAINING AND DEVELOPMENT PROGRAMS TO DRIVE MARKET
                    TABLE 18 LEARNING MANAGEMENT: CORE HR SOFTWARE MARKET, BY REGION,  2018–2022 (USD MILLION)
                    TABLE 19 LEARNING MANAGEMENT: MARKET, BY REGION,  2023–2028 (USD MILLION)
    7.6 PENSION MANAGEMENT 
           7.6.1 ENABLES ACCOMMODATION OF DIFFERENT RETIREMENT STRUCTURES FOR DIVERSE WORKFORCES, GLOBAL OPERATIONS, CURRENCIES, AND REGULATIONS
                    TABLE 20 PENSION MANAGEMENT: MARKET, BY REGION,  2018–2022 (USD MILLION)
                    TABLE 21 PENSION MANAGEMENT: MARKET, BY REGION,  2023–2028 (USD MILLION)
    7.7 COMPLIANCE MANAGEMENT 
           7.7.1 COMPLIES WITH LAWS, MITIGATES RISK, AND ENSURES ETHICAL  HR PRACTICES
                    TABLE 22 COMPLIANCE MANAGEMENT: MARKET, BY REGION,  2018–2022 (USD MILLION)
                    TABLE 23 COMPLIANCE MANAGEMENT: MARKET, BY REGION,  2023–2028 (USD MILLION)
    7.8 OTHER SOFTWARE 
           7.8.1 NURTURES INTERNAL TALENT FOR BUSINESS CONTINUITY  AND GROWTH
                    TABLE 24 OTHER SOFTWARE: MARKET, BY REGION,  2018–2022 (USD MILLION)
                    TABLE 25 OTHER SOFTWARE: MARKET, BY REGION,  2023–2028 (USD MILLION)
 
8 CORE HR SOFTWARE MARKET, BY SERVICES (Page No. - 87)
    8.1 INTRODUCTION 
           8.1.1 SERVICES: MARKET DRIVERS
                    FIGURE 31 IMPLEMENTATION & INTEGRATION SEGMENT TO BE LARGEST DURING FORECAST PERIOD
                    TABLE 26 MARKET, BY SERVICES, 2018–2022 (USD MILLION)
                    TABLE 27 MARKET, BY SERVICES, 2023–2028 (USD MILLION)
    8.2 IMPLEMENTATION & INTEGRATION 
           8.2.1 BETTER VISIBILITY AND CONNECTIVITY TO DRIVE MARKET
                    TABLE 28 IMPLEMENTATION & INTEGRATION: MARKET, BY REGION,  2018–2022 (USD MILLION)
                    TABLE 29 IMPLEMENTATION & INTEGRATION: MARKET, BY REGION,  2023–2028 (USD MILLION)
    8.3 SUPPORT & MAINTENANCE 
           8.3.1 OFFER SUPPORT, SOFTWARE MAINTENANCE, CUSTOMER PORTAL, POST-DEPLOYMENT ASSISTANCE, AND CLIENT TESTIMONIAL SERVICES
                    TABLE 30 SUPPORT & MAINTENANCE: MARKET, BY REGION,  2018–2022 (USD MILLION)
                    TABLE 31 SUPPORT & MAINTENANCE: MARKET, BY REGION,  2023–2028 (USD MILLION)
    8.4 CONSULTING 
           8.4.1 ASSISTANCE IN NAVIGATING COMPLEX MODERN HUMAN RESOURCE MANAGEMENT LANDSCAPE
                    TABLE 32 CONSULTING: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 33 CONSULTING: MARKET, BY REGION, 2023–2028 (USD MILLION)
 
9 CORE HR SOFTWARE MARKET, BY DEPLOYMENT TYPE (Page No. - 93)
    9.1 INTRODUCTION 
           FIGURE 32 CLOUD SEGMENT TO BE LARGER DURING FORECAST PERIOD
           9.1.1 DEPLOYMENT TYPE: MARKET DRIVERS
                    TABLE 34 MARKET, BY DEPLOYMENT TYPE, 2018–2022 (USD MILLION)
                    TABLE 35 MARKET, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
    9.2 CLOUD 
           9.2.1 INCREASING ADOPTION OF CLOUD-BASED SERVICES TO DRIVE GROWTH
                    TABLE 36 CLOUD: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 37 CLOUD: MARKET, BY REGION, 2023–2028 (USD MILLION)
    9.3 ON-PREMISES 
           9.3.1 UTILIZED IN HEALTHCARE AND BFSI TO MINIMIZE DATA BREACHES
                    TABLE 38 ON-PREMISES: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 39 ON-PREMISES: MARKET, BY REGION,  2023–2028 (USD MILLION)
 
10 CORE HR SOFTWARE MARKET, BY VERTICAL (Page No. - 98)
     10.1 INTRODUCTION 
               FIGURE 33 GOVERNMENT SEGMENT ESTIMATED TO BE LARGEST IN 2023
             10.1.1 VERTICAL: MARKET DRIVERS
                       TABLE 40 MARKET, BY VERTICAL, 2018–2022 (USD MILLION)
                       TABLE 41 MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
     10.2 GOVERNMENT 
             10.2.1 TRANSPARENCY, PRODUCTIVITY, AND EMPLOYEE SATISFACTION CONTRIBUTE TO EFFECTIVE AND EFFICIENT DELIVERY OF PUBLIC SERVICES
                       TABLE 42 GOVERNMENT: MARKET, BY REGION, 2018–2022 (USD MILLION)
                       TABLE 43 GOVERNMENT: MARKET, BY REGION, 2023–2028 (USD MILLION)
     10.3 MANUFACTURING 
             10.3.1 OPTIMIZES WORKFORCE PLANNING, TRAINING AND SKILL DEVELOPMENT, COMPLIANCE MANAGEMENT, AND PERFORMANCE EVALUATION
                       TABLE 44 MANUFACTURING: CORE HR SOFTWARE MARKET, BY REGION,  2018–2022 (USD MILLION)
                       TABLE 45 MANUFACTURING: MARKET, BY REGION,  2023–2028 (USD MILLION)
     10.4 ENERGY & UTILITIES 
             10.4.1 MANAGES AND TRACKS EMPLOYEE CERTIFICATIONS, LICENSES,  AND SAFETY TRAINING
                       TABLE 46 ENERGY & UTILITIES: MARKET, BY REGION,  2018–2022 (USD MILLION)
                       TABLE 47 ENERGY & UTILITIES: MARKET, BY REGION,  2023–2028 (USD MILLION)
     10.5 CONSUMER GOODS & RETAIL 
             10.5.1 ENABLES EFFECTIVE WORKFORCE MANAGEMENT
                       TABLE 48 CONSUMER GOODS & RETAIL: MARKET, BY REGION,  2018–2022 (USD MILLION)
                       TABLE 49 CONSUMER GOODS & RETAIL: MARKET, BY REGION,  2023–2028 (USD MILLION)
     10.6 HEALTHCARE 
             10.6.1 STREAMLINES HR OPERATIONS, ENHANCES PATIENT CARE, AND MAINTAINS COMPLIANCE WITH INDUSTRY REGULATIONS
                       TABLE 50 HEALTHCARE: MARKET, BY REGION, 2018–2022 (USD MILLION)
                       TABLE 51 HEALTHCARE: MARKET, BY REGION, 2023–2028 (USD MILLION)
     10.7 TRANSPORTATION & LOGISTICS 
             10.7.1 FACILITATES SCHEDULING, TRACKS EMPLOYEE HOURS, AND MANAGES SHIFT ASSIGNMENTS
                       TABLE 52 TRANSPORTATION & LOGISTICS: MARKET, BY REGION,  2018–2022 (USD MILLION)
                       TABLE 53 TRANSPORTATION & LOGISTICS: MARKET, BY REGION,  2023–2028 (USD MILLION)
     10.8 IT & TELECOM 
             10.8.1 OPTIMIZES WORKFORCE DEPLOYMENT, AVOIDS OVERSTAFFING OR UNDERSTAFFING, AND ENSURES EFFICIENT EXECUTION OF PROJECTS
                       TABLE 54 IT & TELECOM: MARKET, BY REGION, 2018–2022 (USD MILLION)
                       TABLE 55 IT & TELECOM: MARKET, BY REGION, 2023–2028 (USD MILLION)
     10.9 BFSI 
             10.9.1 ATTRACTS TOP TALENT, CONDUCTS COMPREHENSIVE BACKGROUND CHECKS, AND EXPEDITES HIRING PROCESS
                       TABLE 56 BFSI: MARKET, BY REGION, 2018–2022 (USD MILLION)
                       TABLE 57 BFSI: MARKET, BY REGION, 2023–2028 (USD MILLION)
     10.10 OTHER VERTICALS 
               TABLE 58 OTHER VERTICALS: MARKET, BY REGION,  2018–2022 (USD MILLION)
               TABLE 59 OTHER VERTICALS: MARKET, BY REGION,  2023–2028 (USD MILLION)
 
11 CORE HR SOFTWARE MARKET, BY REGION (Page No. - 111)
     11.1 INTRODUCTION 
               FIGURE 34 NORTH AMERICA TO BE LARGEST MARKET BY 2028
               TABLE 60 MARKET, BY REGION, 2018–2022 (USD MILLION)
               TABLE 61 MARKET, BY REGION, 2023–2028 (USD MILLION)
             11.1.1 NORTH AMERICA
             11.1.2 NORTH AMERICA: MARKET DRIVERS
             11.1.3 IMPACT OF RECESSION ON NORTH AMERICA
                       FIGURE 35 NORTH AMERICA: CORE HR SOFTWARE MARKET SNAPSHOT
                       TABLE 62 NORTH AMERICA: MARKET, BY COMPONENT,  2018–2022 (USD MILLION)
                       TABLE 63 NORTH AMERICA: MARKET, BY COMPONENT,  2023–2028 (USD MILLION)
                       TABLE 64 NORTH AMERICA: MARKET, BY SOFTWARE,  2018–2022 (USD MILLION)
                       TABLE 65 NORTH AMERICA: MARKET, BY SOFTWARE,  2023–2028 (USD MILLION)
                       TABLE 66 NORTH AMERICA: MARKET, BY SERVICES,  2018–2022 (USD MILLION)
                       TABLE 67 NORTH AMERICA: MARKET, BY SERVICES,  2023–2028 (USD MILLION)
                       TABLE 68 NORTH AMERICA: MARKET, BY DEPLOYMENT TYPE,  2018–2022 (USD MILLION)
                       TABLE 69 NORTH AMERICA: MARKET, BY DEPLOYMENT TYPE,  2023–2028 (USD MILLION)
                       TABLE 70 NORTH AMERICA: MARKET, BY VERTICAL,  2018–2022 (USD MILLION)
                       TABLE 71 NORTH AMERICA: MARKET, BY VERTICAL,  2023–2028 (USD MILLION)
                       TABLE 72 NORTH AMERICA: MARKET, BY COUNTRY,  2018–2022 (USD MILLION)
                       TABLE 73 NORTH AMERICA: MARKET, BY COUNTRY,  2023–2028 (USD MILLION)
             11.1.4 US
                       11.1.4.1 Myriad labor laws and regulations at federal, state, and local levels to drive market
                                   TABLE 74 US: CORE HR SOFTWARE MARKET, BY COMPONENT, 2018–2022 (USD MILLION)
                                   TABLE 75 US: MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
                                   TABLE 76 US: MARKET, BY DEPLOYMENT TYPE, 2018–2022 (USD MILLION)
                                   TABLE 77 US: MARKET, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
             11.1.5 CANADA
                       11.1.5.1 Compliance with varied and complex regulations to drive market
                                   TABLE 78 CANADA: MARKET, BY COMPONENT, 2018–2022 (USD MILLION)
                                   TABLE 79 CANADA: MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
                                   TABLE 80 CANADA: MARKET, BY DEPLOYMENT TYPE,  2018–2022 (USD MILLION)
                                   TABLE 81 CANADA: MARKET, BY DEPLOYMENT TYPE,  2023–2028 (USD MILLION)
     11.2 EUROPE 
             11.2.1 EUROPE: MARKET DRIVERS
             11.2.2 IMPACT OF RECESSION ON EUROPE
                       TABLE 82 EUROPE: CORE HR SOFTWARE MARKET, BY COMPONENT, 2018–2022 (USD MILLION)
                       TABLE 83 EUROPE: MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
                       TABLE 84 EUROPE: MARKET, BY SOFTWARE, 2018–2022 (USD MILLION)
                       TABLE 85 EUROPE: MARKET, BY SOFTWARE, 2023–2028 (USD MILLION)
                       TABLE 86 EUROPE: MARKET, BY SERVICES, 2018–2022 (USD MILLION)
                       TABLE 87 EUROPE: MARKET, BY SERVICES, 2023–2028 (USD MILLION)
                       TABLE 88 EUROPE: MARKET, BY DEPLOYMENT TYPE,  2018–2022 (USD MILLION)
                       TABLE 89 EUROPE: MARKET, BY DEPLOYMENT TYPE,  2023–2028 (USD MILLION)
                       TABLE 90 EUROPE: MARKET, BY VERTICAL, 2018–2022 (USD MILLION)
                       TABLE 91 EUROPE: MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
                       TABLE 92 EUROPE: MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
                       TABLE 93 EUROPE: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             11.2.3 UK
                       11.2.3.1 Growing adoption of cloud and other technologies to drive market
                                   TABLE 94 UK: CORE HR SOFTWARE MARKET, BY COMPONENT, 2018–2022 (USD MILLION)
                                   TABLE 95 UK: MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
                                   TABLE 96 UK: MARKET, BY DEPLOYMENT TYPE, 2018–2022 (USD MILLION)
                                   TABLE 97 UK: MARKET, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
             11.2.4 GERMANY
                       11.2.4.1 Cloud-based solutions to drive market
                                   TABLE 98 GERMANY: MARKET, BY COMPONENT, 2018–2022 (USD MILLION)
                                   TABLE 99 GERMANY: MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
                                   TABLE 100 GERMANY: MARKET, BY DEPLOYMENT TYPE,  2018–2022 (USD MILLION)
                                   TABLE 101 GERMANY: MARKET, BY DEPLOYMENT TYPE,  2023–2028 (USD MILLION)
             11.2.5 FRANCE
                       11.2.5.1 Optimization of HR applications to drive market
                                   TABLE 102 FRANCE: CORE HR SOFTWARE MARKET, BY COMPONENT, 2018–2022 (USD MILLION)
                                   TABLE 103 FRANCE: MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
                                   TABLE 104 FRANCE: MARKET, BY DEPLOYMENT TYPE,  2018–2022 (USD MILLION)
                                   TABLE 105 FRANCE: MARKET, BY DEPLOYMENT TYPE,  2023–2028 (USD MILLION)
             11.2.6 REST OF EUROPE
                       TABLE 106 REST OF EUROPE: MARKET, BY COMPONENT,  2018–2022 (USD MILLION)
                       TABLE 107 REST OF EUROPE: MARKET, BY COMPONENT,  2023–2028 (USD MILLION)
                       TABLE 108 REST OF EUROPE: MARKET, BY DEPLOYMENT TYPE,  2018–2022 (USD MILLION)
                       TABLE 109 REST OF EUROPE: MARKET, BY DEPLOYMENT TYPE,  2023–2028 (USD MILLION)
     11.3 ASIA PACIFIC 
             11.3.1 ASIA PACIFIC: MARKET DRIVERS
             11.3.2 IMPACT OF RECESSION ON ASIA PACIFIC
                       FIGURE 36 ASIA PACIFIC: CORE HR SOFTWARE MARKET SNAPSHOT
                       TABLE 110 ASIA PACIFIC: MARKET, BY COMPONENT,  2018–2022 (USD MILLION)
                       TABLE 111 ASIA PACIFIC: MARKET, BY COMPONENT,  2023–2028 (USD MILLION)
                       TABLE 112 ASIA PACIFIC: MARKET, BY SOFTWARE, 2018–2022 (USD MILLION)
                       TABLE 113 ASIA PACIFIC: MARKET, BY SOFTWARE, 2023–2028 (USD MILLION)
                       TABLE 114 ASIA PACIFIC: MARKET, BY SERVICES, 2018–2022 (USD MILLION)
                       TABLE 115 ASIA PACIFIC: MARKET, BY SERVICES, 2023–2028 (USD MILLION)
                       TABLE 116 ASIA PACIFIC: MARKET, BY DEPLOYMENT TYPE,  2018–2022 (USD MILLION)
                       TABLE 117 ASIA PACIFIC: MARKET, BY DEPLOYMENT TYPE,  2023–2028 (USD MILLION)
                       TABLE 118 ASIA PACIFIC: MARKET, BY VERTICAL, 2018–2022 (USD MILLION)
                       TABLE 119 ASIA PACIFIC: MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
                       TABLE 120 ASIA PACIFIC: MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
                       TABLE 121 ASIA PACIFIC: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             11.3.3 CHINA
                       11.3.3.1 Innovative technologies to drive market
                                   TABLE 122 CHINA: CORE HR SOFTWARE MARKET, BY COMPONENT, 2018–2022 (USD MILLION)
                                   TABLE 123 CHINA: MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
                                   TABLE 124 CHINA: MARKET, BY DEPLOYMENT TYPE, 2018–2022 (USD MILLION)
                                   TABLE 125 CHINA: MARKET, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
             11.3.4 JAPAN
                       11.3.4.1 Increased R&D investments and skilled professionals drive market
                                   TABLE 126 JAPAN: MARKET, BY COMPONENT, 2018–2022 (USD MILLION)
                                   TABLE 127 JAPAN: MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
                                   TABLE 128 JAPAN: MARKET, BY DEPLOYMENT TYPE, 2018–2022 (USD MILLION)
                                   TABLE 129 JAPAN: MARKET, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
             11.3.5 REST OF ASIA PACIFIC
                       TABLE 130 REST OF ASIA PACIFIC: MARKET, BY COMPONENT,  2018–2022 (USD MILLION)
                       TABLE 131 REST OF ASIA PACIFIC: MARKET, BY COMPONENT,  2023–2028 (USD MILLION)
                       TABLE 132 REST OF ASIA PACIFIC: MARKET, BY DEPLOYMENT TYPE,  2018–2022 (USD MILLION)
                       TABLE 133 REST OF ASIA PACIFIC: MARKET, BY DEPLOYMENT TYPE,  2023–2028 (USD MILLION)
     11.4 MIDDLE EAST & AFRICA 
             11.4.1 MIDDLE EAST & AFRICA: MARKET DRIVERS
             11.4.2 IMPACT OF RECESSION ON MIDDLE EAST & AFRICA
                       TABLE 134 MIDDLE EAST & AFRICA: CORE HR SOFTWARE MARKET, BY COMPONENT,  2018–2022 (USD MILLION)
                       TABLE 135 MIDDLE EAST & AFRICA: MARKET, BY COMPONENT,  2023–2028 (USD MILLION)
                       TABLE 136 MIDDLE EAST & AFRICA: MARKET, BY SOFTWARE,  2018–2022 (USD MILLION)
                       TABLE 137 MIDDLE EAST & AFRICA: MARKET, BY SOFTWARE,  2023–2028 (USD MILLION)
                       TABLE 138 MIDDLE EAST & AFRICA: MARKET, BY SERVICES,  2018–2022 (USD MILLION)
                       TABLE 139 MIDDLE EAST & AFRICA: MARKET, BY SERVICES,  2023–2028 (USD MILLION)
                       TABLE 140 MIDDLE EAST & AFRICA: MARKET, BY DEPLOYMENT TYPE,  2018–2022 (USD MILLION)
                       TABLE 141 MIDDLE EAST & AFRICA: MARKET, BY DEPLOYMENT TYPE,  2023–2028 (USD MILLION)
                       TABLE 142 MIDDLE EAST & AFRICA: MARKET, BY VERTICAL,  2018–2022 (USD MILLION)
                       TABLE 143 MIDDLE EAST & AFRICA: MARKET, BY VERTICAL,  2023–2028 (USD MILLION)
                       TABLE 144 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY,  2018–2022 (USD MILLION)
                       TABLE 145 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY,  2023–2028 (USD MILLION)
             11.4.3 KINGDOM OF SAUDI ARABIA
                       11.4.3.1 Workforce optimization to drive market
                                   TABLE 146 KSA: CORE HR SOFTWARE MARKET, BY COMPONENT, 2018–2022 (USD MILLION)
                                   TABLE 147 KSA: MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
                                   TABLE 148 KSA: MARKET, BY DEPLOYMENT TYPE, 2018–2022 (USD MILLION)
                                   TABLE 149 KSA: MARKET, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
             11.4.4 UAE
                       11.4.4.1 Adoption of advancements in latest technologies to drive market
                                   TABLE 150 UAE: MARKET, BY COMPONENT, 2018–2022 (USD MILLION)
                                   TABLE 151 UAE: MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
                                   TABLE 152 UAE: MARKET, BY DEPLOYMENT TYPE, 2018–2022 (USD MILLION)
                                   TABLE 153 UAE: MARKET, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
             11.4.5 REST OF MIDDLE EAST & AFRICA
                       TABLE 154 REST OF MIDDLE EAST & AFRICA: MARKET, BY COMPONENT,  2018–2022 (USD MILLION)
                       TABLE 155 REST OF MIDDLE EAST & AFRICA: MARKET, BY COMPONENT,  2023–2028 (USD MILLION)
                       TABLE 156 REST OF MIDDLE EAST & AFRICA: MARKET, BY DEPLOYMENT TYPE, 2018–2022 (USD MILLION)
                       TABLE 157 REST OF MIDDLE EAST & AFRICA: MARKET, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
     11.5 LATIN AMERICA 
             11.5.1 LATIN AMERICA: MARKET DRIVERS
             11.5.2 IMPACT OF RECESSION ON LATIN AMERICA
                       TABLE 158 LATIN AMERICA: CORE HR SOFTWARE MARKET, BY COMPONENT,  2018–2022 (USD MILLION)
                       TABLE 159 LATIN AMERICA: MARKET, BY COMPONENT,  2023–2028 (USD MILLION)
                       TABLE 160 LATIN AMERICA: MARKET, BY SOFTWARE,  2018–2022 (USD MILLION)
                       TABLE 161 LATIN AMERICA: MARKET, BY SOFTWARE,  2023–2028 (USD MILLION)
                       TABLE 162 LATIN AMERICA: MARKET, BY SERVICES,  2018–2022 (USD MILLION)
                       TABLE 163 LATIN AMERICA: MARKET, BY SERVICES,  2023–2028 (USD MILLION)
                       TABLE 164 LATIN AMERICA: MARKET, BY DEPLOYMENT TYPE,  2018–2022 (USD MILLION)
                       TABLE 165 LATIN AMERICA: MARKET, BY DEPLOYMENT TYPE,  2023–2028 (USD MILLION)
                       TABLE 166 LATIN AMERICA: MARKET, BY VERTICAL, 2018–2022 (USD MILLION)
                       TABLE 167 LATIN AMERICA: MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
                       TABLE 168 LATIN AMERICA: MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
                       TABLE 169 LATIN AMERICA: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             11.5.3 BRAZIL
                       11.5.3.1 Digital transformation across industries to drive market
                                   TABLE 170 BRAZIL: CORE HR SOFTWARE MARKET, BY COMPONENT, 2018–2022 (USD MILLION)
                                   TABLE 171 BRAZIL: MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
                                   TABLE 172 BRAZIL: MARKET, BY DEPLOYMENT TYPE,  2018–2022 (USD MILLION)
                                   TABLE 173 BRAZIL: MARKET, BY DEPLOYMENT TYPE,  2023–2028 (USD MILLION)
             11.5.4 MEXICO
                       11.5.4.1 Scalability and flexibility for businesses to drive market
                                   TABLE 174 MEXICO: MARKET, BY COMPONENT, 2018–2022 (USD MILLION)
                                   TABLE 175 MEXICO: MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
                                   TABLE 176 MEXICO: MARKET, BY DEPLOYMENT TYPE,  2018–2022 (USD MILLION)
                                   TABLE 177 MEXICO: MARKET, BY DEPLOYMENT TYPE,  2023–2028 (USD MILLION)
             11.5.5 REST OF LATIN AMERICA
                       TABLE 178 REST OF LATIN AMERICA: CORE HR SOFTWARE MARKET, BY COMPONENT,  2018–2022 (USD MILLION)
                       TABLE 179 REST OF LATIN AMERICA: MARKET, BY COMPONENT,  2023–2028 (USD MILLION)
                       TABLE 180 REST OF LATIN AMERICA: MARKET, BY DEPLOYMENT TYPE,  2018–2022 (USD MILLION)
                       TABLE 181 REST OF LATIN AMERICA: MARKET, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
 
12 COMPETITIVE LANDSCAPE (Page No. - 158)
     12.1 OVERVIEW 
     12.2 REVENUE ANALYSIS 
               FIGURE 37 HISTORICAL FOUR-YEAR REVENUE ANALYSIS OF LEADING PLAYERS,  2018–2022 (USD BILLION)
     12.3 MARKET SHARE ANALYSIS 
               FIGURE 38 MARKET SHARE ANALYSIS, 2022
               TABLE 182 MARKET SHARE OF KEY PLAYERS IN 2022
     12.4 COMPANY EVALUATION METRIX 
               FIGURE 39 COMPANY EVALUATION QUADRANT: CRITERIA WEIGHTAGE
             12.4.1 STARS
             12.4.2 EMERGING LEADERS
             12.4.3 PERVASIVE PLAYERS
             12.4.4 PARTICIPANTS
                       FIGURE 40 MARKET, KEY COMPANY EVALUATION MATRIX, 2022
                       FIGURE 41 RANKING OF KEY PLAYERS IN CORE HR SOFTWARE MARKET, 2022
     12.5 KEY MARKET DEVELOPMENTS 
             12.5.1 PRODUCT LAUNCHES & ENHANCEMENTS
                       TABLE 183 PRODUCT LAUNCHES & ENHANCEMENTS, 2020–2023
             12.5.2 DEALS
                       TABLE 184 DEALS, 2021–2023
 
13 COMPANY PROFILES (Page No. - 166)
(Business overview, Products/Solutions/Services offered, Recent Developments, MNM view)*
     13.1 INTRODUCTION 
     13.2 KEY PLAYERS 
             13.2.1 WORKDAY
                       TABLE 185 WORKDAY: COMPANY OVERVIEW
                       FIGURE 42 WORKDAY: COMPANY SNAPSHOT
                       TABLE 186 WORKDAY: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 187 WORKDAY: PRODUCT LAUNCHES & ENHANCEMENTS
                       TABLE 188 WORKDAY: DEALS
             13.2.2 ADP
                       TABLE 189 ADP: COMPANY OVERVIEW
                       FIGURE 43 ADP: COMPANY SNAPSHOT
                       TABLE 190 ADP: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 191 ADP: PRODUCT LAUNCHES & ENHANCEMENTS
                       TABLE 192 ADP: DEALS
             13.2.3 SAP
                       TABLE 193 SAP: COMPANY OVERVIEW
                       FIGURE 44 SAP: COMPANY SNAPSHOT
                       TABLE 194 SAP: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 195 SAP: PRODUCT LAUNCHES & ENHANCEMENTS
                       TABLE 196 SAP: DEALS
             13.2.4 UKG
                       TABLE 197 UKG: COMPANY OVERVIEW
                       TABLE 198 UKG: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 199 UKG: DEALS
             13.2.5 ORACLE
                       TABLE 200 ORACLE: COMPANY OVERVIEW
                       FIGURE 45 ORACLE: COMPANY SNAPSHOT
                       TABLE 201 ORACLE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 202 ORACLE: PRODUCT LAUNCHES & ENHANCEMENTS
                       TABLE 203 ORACLE: DEALS
             13.2.6 CERIDIAN
                       TABLE 204 CERIDIAN: COMPANY OVERVIEW
                       FIGURE 46 CERIDIAN: COMPANY SNAPSHOT
                       TABLE 205 CERIDIAN: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 206 CERIDIAN: PRODUCT LAUNCHES & ENHANCEMENTS
                       TABLE 207 CERIDIAN: DEALS
             13.2.7 IBM
                       TABLE 208 IBM: COMPANY OVERVIEW
                       FIGURE 47 IBM: COMPANY SNAPSHOT
                       TABLE 209 IBM: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             13.2.8 PAYCOM
                       TABLE 210 PAYCOM: COMPANY OVERVIEW
                       FIGURE 48 PAYCOM: COMPANY SNAPSHOT
                       TABLE 211 PAYCOM: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 212 PAYCOM: PRODUCT LAUNCHES & ENHANCEMENTS
             13.2.9 PAYLOCITY
                       TABLE 213 PAYLOCITY: COMPANY OVERVIEW
                       FIGURE 49 PAYLOCITY: COMPANY SNAPSHOT
                       TABLE 214 PAYLOCITY: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 215 PAYLOCITY: DEALS
             13.2.10 CORNERSTONE ONDEMAND
                       TABLE 216 CORNERSTONE ONDEMAND: COMPANY OVERVIEW
                       TABLE 217 CORNERSTONE ONDEMAND: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 218 CORNERSTONE ONDEMAND: PRODUCT LAUNCHES & ENHANCEMENTS
                       TABLE 219 CORNERSTONE ONDEMAND: DEALS
*Details on Business overview, Products/Solutions/Services offered, Recent Developments, MNM view might not be captured in case of unlisted companies
     13.3 OTHER PLAYERS 
             13.3.1 VISMA
             13.3.2 ACCESS GROUP
             13.3.3 PAYCHEX
             13.3.4 EMPLOYWISE
             13.3.5 HRONE
             13.3.6 GREYTHR
             13.3.7 PEOPLESTRONG
             13.3.8 PERSONIO
             13.3.9 SPROUT SOLUTIONS
             13.3.10 DARWINBOX
             13.3.11 SERVICENOW
             13.3.12 HIBOB
             13.3.13 APS PAYROLL
             13.3.14 BAMBOOHR
             13.3.15 PAYCOR
             13.3.16 ZOHO
             13.3.17 NAMELY
             13.3.18 GUSTO
             13.3.19 RIPPLING
 
14 ADJACENT MARKETS (Page No. - 216)
     14.1 INTRODUCTION 
             14.1.1 RELATED MARKETS
     14.2 ENTERPRISE ASSET MANAGEMENT MARKET 
               TABLE 220 ENTERPRISE ASSET MANAGEMENT MARKET, BY COMPONENT,  2018–2021 (USD MILLION)
               TABLE 221 ENTERPRISE ASSET MANAGEMENT MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
               TABLE 222 ENTERPRISE ASSET MANAGEMENT MARKET, BY APPLICATION,  2018–2021 (USD MILLION)
               TABLE 223 ENTERPRISE ASSET MANAGEMENT MARKET, BY APPLICATION,  2022–2027 (USD MILLION)
               TABLE 224 ENTERPRISE ASSET MANAGEMENT MARKET, BY DEPLOYMENT MODEL,  2018–2021 (USD MILLION)
               TABLE 225 ENTERPRISE ASSET MANAGEMENT MARKET, BY DEPLOYMENT MODEL,  2022–2027 (USD MILLION)
               TABLE 226 ENTERPRISE ASSET MANAGEMENT MARKET, BY ORGANIZATION SIZE,  2018–2021 (USD MILLION)
               TABLE 227 ENTERPRISE ASSET MANAGEMENT MARKET, BY ORGANIZATION SIZE,  2022–2027 (USD MILLION)
               TABLE 228 ENTERPRISE ASSET MANAGEMENT MARKET, BY VERTICAL, 2018–2021 (USD MILLION)
               TABLE 229 ENTERPRISE ASSET MANAGEMENT MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
               TABLE 230 ENTERPRISE ASSET MANAGEMENT MARKET, BY REGION, 2018–2021 (USD MILLION)
               TABLE 231 ENTERPRISE ASSET MANAGEMENT MARKET, BY REGION, 2022–2027 (USD MILLION)
     14.3 HUMAN CAPITAL MANAGEMENT MARKET 
               TABLE 232 HUMAN CAPITAL MANAGEMENT MARKET, BY COMPONENT, 2017–2020 (USD MILLION)
               TABLE 233 HUMAN CAPITAL MANAGEMENT MARKET, BY COMPONENT, 2021–2026 (USD MILLION)
               TABLE 234 HUMAN CAPITAL MANAGEMENT MARKET, BY SOFTWARE, 2017–2020 (USD MILLION)
               TABLE 235 HUMAN CAPITAL MANAGEMENT MARKET, BY SOFTWARE, 2021–2026 (USD MILLION)
               TABLE 236 HUMAN CAPITAL MANAGEMENT MARKET, BY SERVICE, 2017–2020 (USD MILLION)
               TABLE 237 HUMAN CAPITAL MANAGEMENT MARKET, BY SERVICE, 2021–2026 (USD MILLION)
               TABLE 238 HUMAN CAPITAL MANAGEMENT MARKET, BY DEPLOYMENT MODEL,  2017–2020 (USD MILLION)
               TABLE 239 HUMAN CAPITAL MANAGEMENT MARKET, BY DEPLOYMENT MODEL,  2021–2026 (USD MILLION)
               TABLE 240 HUMAN CAPITAL MANAGEMENT MARKET, BY ORGANIZATION SIZE,  2017–2020 (USD MILLION)
               TABLE 241 HUMAN CAPITAL MANAGEMENT MARKET, BY ORGANIZATION SIZE,  2021–2026 (USD MILLION)
               TABLE 242 HUMAN CAPITAL MANAGEMENT MARKET, BY VERTICAL, 2017–2020 (USD MILLION)
               TABLE 243 HUMAN CAPITAL MANAGEMENT MARKET, BY VERTICAL, 2021–2026 (USD MILLION)
               TABLE 244 HUMAN CAPITAL MANAGEMENT MARKET, BY REGION, 2017–2020 (USD MILLION)
               TABLE 245 HUMAN CAPITAL MANAGEMENT MARKET, BY REGION, 2021–2026 (USD MILLION)
     14.4 WORKFORCE MANAGEMENT MARKET 
               TABLE 246 WORKFORCE MANAGEMENT MARKET, BY COMPONENT, 2018–2025 (USD MILLION)
               TABLE 247 WORKFORCE MANAGEMENT MARKET, BY SOLUTION, 2018–2025 (USD MILLION)
               TABLE 248 WORKFORCE MANAGEMENT MARKET, BY SERVICE, 2018–2025 (USD MILLION)
               TABLE 249 WORKFORCE MANAGEMENT MARKET, BY DEPLOYMENT TYPE,  2018–2025 (USD MILLION)
               TABLE 250 WORKFORCE MANAGEMENT MARKET, BY ORGANIZATION SIZE,  2018–2025 (USD MILLION)
               TABLE 251 WORKFORCE MANAGEMENT MARKET, BY VERTICAL, 2018–2025 (USD MILLION)
               TABLE 252 WORKFORCE MANAGEMENT MARKET, BY REGION, 2018–2025 (USD MILLION)
 
15 APPENDIX (Page No. - 227)
     15.1 DISCUSSION GUIDE 
     15.2 KNOWLEDGESTORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL 
     15.3 CUSTOMIZATION OPTIONS 
     15.4 RELATED REPORTS 
     15.5 AUTHOR DETAILS 

The study involved four major activities in estimating the current market size of the core HR software market. Extensive secondary research was done to collect information on the market, the competitive market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, the market breakup and data triangulation procedures were referred to estimate the size of the core HR software market segments.

Secondary Research

This research study used extensive secondary sources, directories, and databases, such as D&B Hoovers, DiscoverOrg, Factiva, vendor data sheets, product demos, Cloud Computing Association (CCA), Vendor Surveys, Asia Cloud Computing Association, and The Software Alliance. All these sources were referred to for identifying and collecting valuable information for this technical, market-oriented, and commercial study of the core HR software market.

Primary Research

Primary sources were several industry experts from the core and related industries, preferred software providers, hardware manufacturers, distributors, service providers, technology developers, alliances, and organizations related to all segments of the industry’s value chain. In-depth interviews were conducted with primary respondents, including key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, to obtain and verify critical qualitative and quantitative information and assess the market’s prospects.

Primary interviews were conducted to gather insights, such as market statistics, the latest trends disrupting the market, new use cases implemented, data on revenue collected from products and services, market breakups, market size estimations, market forecasts, and data triangulation. Primary research also helped understand various technology trends, segmentation types, industry trends, and regions. Demand-side stakeholders, such as Chief Information Officers (CIOs), Chief Technology Officers (CTOs), Chief Security Officers (CSOs), and the installation teams of governments/end users using core HR software; and digital initiatives project teams, were interviewed to understand the buyer’s perspective on suppliers, products, service providers, and their current use of services, which would affect the overall core HR software market.

Core HR Software Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and forecast the core HR software market and other dependent submarkets. The bottom-up procedure was deployed to arrive at the overall market size using the revenues and offerings of key companies in the market. With data triangulation methods and validation through primary interviews, this study determined and confirmed the exact value of the overall parent market size. The overall market size was then used in the top-down procedure to estimate the size of other individual markets via percentage splits of the market segments.

The top-down and bottom-up approaches were used to estimate and validate the size of the core HR software market and various other dependent subsegments.

The research methodology used to estimate the market size included the following details:

  • The key players in the market were identified through secondary research, and their revenue contributions in the respective countries were determined through primary and secondary research.
  • This procedure included studying top market players’ annual and financial reports and extensive interviews for key insights from industry leaders, such as Chief Executive Officers (CEOs), VPs, directors, and marketing executives.
  • All percentage splits, and breakups were determined using secondary sources and verified through primary sources.

All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data is consolidated and added with detailed inputs and analysis from MarketsandMarkets.

Core HR software market: Top-down and bottom-up approaches

Core HR Software Market Size, and Share

Data Triangulation

After arriving at the overall market size, the market was split into several segments and subsegments—using the market size estimation processes as explained above. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakup procedures were employed, wherever applicable. The data was triangulated by studying several factors and trends from both the demand and supply sides in the core HR software market.

Market Definition

According to MarketsandMarkets, Core HR software can be understood as a set of organizational solutions or platforms for employee management. These solutions are beneficial for the organization and employees as well. They help organizations with individual employee engagement and leadership. The HR industry is undergoing transformational changes due to the evolving issues of managing resources, declining employee engagement rates, and high attrition rates. To overcome such problems, HR professionals are adopting practical tools to manage their workforces in better and more planned ways. Core HR software reduces the tedious activities and time HR personnel spend working with an organization’s employees individually.

Key Stakeholders

  • Value-Added Resellers (VARs)
  • Software providers
  • Research organizations
  • Consulting companies
  • Application Service Providers
  • Cloud Platform Providers
  • Investors and Venture Capitalists
  • System integrators
  • Technology providers
  • Suppliers, distributors, and contractors
  • End-Users/Enterprise Users

Report Objectives

  • To define, describe, and forecast the core Human Resources (HR) software market based on component, software, service, deployment type, vertical, and region
  • To provide detailed information regarding the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the market
  • To strategically analyze markets concerning growth trends, prospects, and contributions to the overall market
  • To analyze and forecast the market size in terms of value
  • To forecast the market size for five main regions: North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America
  • To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the market
  • To strategically profile the key players of the market and comprehensively analyze their market size and core competencies in each subsegment
  • To analyze competitive developments such as agreements, alliances, joint ventures, and mergers and acquisitions in the market
  • To analyze the impact of the recession on the global core HR software market

Available Customizations

With the given market data, MarketsandMarkets offers customizations per the company’s specific needs. The following customization options are available for the report:

Product Analysis

  • The product matrix provides a detailed comparison of the product portfolio of each company.

Geographic Analysis

  • Further breakup of the Asia Pacific market into countries contributing 75% to the regional market size
  • Further breakup of the North American market into countries contributing 75% to the regional market size
  • Further breakup of the Latin American market into countries contributing 75% to the regional market size
  • Further breakup of the Middle Eastern & African market into countries contributing 75% to the regional market size
  • Further breakup of the European market into countries contributing 75% to the regional market size

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

Request Customization
Report Code
TC 5226
Published ON
Aug, 2023
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Core HR Software Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
CUSTOMIZED WORKSHOP REQUEST
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2024 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status Website Feedback