GCC HR Tech Market

Market Overview:

The GCC HR tech market is projected to exhibit a growth rate (CAGR) of 12% during 2023-2028. The increasing use in small and medium-scale enterprises (SMEs) to streamline processes and enhance efficiency, rising focus on data driven insights for effective talent management, and the growing need for smooth and efficient onboarding processes represent some of the key factors driving the market.

HR tech refers to the application of technology to streamline and optimize various aspects of human resource management within organizations. It encompasses a wide range of software, tools, and platforms designed to automate and enhance HR processes, which makes them more efficient, data-driven, and user-friendly. It covers a diverse set of functionalities, including recruitment and applicant tracking, employee onboarding, performance management, learning and development, payroll and benefits administration, and workforce analytics. It assists in increasing operational efficiency, reducing errors, better compliance with regulations, enhancing employee satisfaction, and improving strategic alignment of HR functions with overall business objectives. It also reduces administrative burdens, improves decision-making through data-driven insights, enhances employee engagement, and provides a more personalized employee experience. It can automate the screening and interview scheduling process and offer insights into employee performance trends, which helps organizations make informed talent management decisions. HR Tech empowers HR professionals with innovative tools to automate routine tasks and focus on strategic initiatives that drive organizational growth and employee success.

GCC HR Tech Market Trends:

The increasing use of HR tech in small and medium-scale enterprises (SMEs) to streamline processes and enhance efficiency on account of the rising adoption of remote working models represents one of the key factors strengthening the market growth in the GCC region. Moreover, the growing focus on data driven insights for effective talent management due to the increasing workforce complexity is influencing the market positively in the region. In addition, the rising demand for HR Tech platforms that offer self-service options, personalized experiences, and continuous feedback is favoring the growth of the market. Apart from this, the growing need for smooth and efficient onboarding processes is driving the demand for HR Tech platforms that streamline the new hire experience across the region. This, coupled with the increasing need for HR Tech tools that enable continuous performance management and feedback, is contributing to the market growth in the region. Furthermore, HR tech is employed in the education sector for managing faculty and staff records, tracking professional development, and ensuring compliance with education regulations. This, along with the rising demand for upskilling and reskilling programs, is bolstering the adoption of HR Tech platforms that offer robust learning management systems in the region. Besides this, the growing desire for streamlined and paperless HR processes is contributing to the demand for HR Tech solutions that offer digital HR services, such as electronic signatures and document management in the region.

GCC HR Tech Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the GCC HR tech market report, along with forecasts at the regional and country levels for 2023-2028 Our report has categorized the market based on application, type, end use industry, and company size.

Application Insights:

• Talent Management
• Payroll Management
• Performance Management
• Workforce Management
• Recruitment
• Others
   

The report has provided a detailed breakup and analysis of the market based on the application. This includes talent management, payroll management, performance management, workforce management, recruitment, and others.

Type Insights:

• Inhouse
• Outsourced
   

A detailed breakup and analysis of the market based on the type has also been provided in the report. This includes inhouse and outsourced.

End Use Industry Insights:

• TTH (Travel, Transportation, and Hospitality)
• Public Sector
• Healthcare
• Information Technology
• BFSI (Banking, Financial Services, and Insurance)
• Others
   

The report has provided a detailed breakup and analysis of the market based on the end use industry. This includes TTH (travel, transportation, and hospitality), public sector, healthcare, information technology, BFSI (banking, financial services, and insurance), and others.

Company Size Insights:

• Less than 1k Employees
• 1k-5k Employees
• Greater than 5k Employees
   

A detailed breakup and analysis of the market based on the company size has also been provided in the report. This includes less than 1k employees, 1k-5k employees, and greater than 5k employees.

Country Insights:

• Saudi Arabia
• UAE
• Qatar
• Bahrain
• Kuwait
• Oman
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Saudi Arabia, UAE, Qatar, Bahrain, Kuwait, and Oman.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

GCC HR Tech Market Report Coverage:

Key Questions Answered in This Report:

• How has the GCC HR tech market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the GCC HR tech market?
• What is the breakup of the GCC HR tech market on the basis of application?
• What is the breakup of the GCC HR tech market on the basis of type?
• What is the breakup of the GCC HR tech market on the basis of end use industry?
• What is the breakup of the GCC HR tech market on the basis of company size?
• What are the various stages in the value chain of the GCC HR tech market?
• What are the key driving factors and challenges in the GCC HR tech market?
• What is the structure of the GCC HR tech market and who are the key players?
• What is the degree of competition in the GCC HR tech market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the GCC HR tech market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the GCC HR tech market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the GCC HR tech industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.