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Global Human Resource (HR) Technology Market to Grow at 9.20% During 2022-2027, Impelled by Rapid Digitization Across the Corporate Segment

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Human Resource (HR) Technology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The Human Resource (HR) Technology Market reached a value of US$ 28.65 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 48.85  Billion by 2027, exhibiting at a CAGR of 9.2% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries.  These insights are included in the report as a major market contributor.

Human resource technology is a significant part of the human resource industry. It enhances all the aspects of employment with the organization, starting from the first day of recruitment until the retirement of the employees. The human resources technologies help the employer to manage payrolls, onboarding, talent sourcing, performance and workforce management, talent management, etc.

The global human resource technology market is primarily driven by the aging of conventional human resource tools as enterprises are now gradually adopting the human resource software ecosystem. The human resource software solutions provide a time and cost-effective way for managing numerous human resources. Moreover, rapid technological innovations have augmented the demand for such solutions for diverse applications, such as workforce management, and talent management. Furthermore, rising working population and complex management methods are also creating a positive impact on this market. Owing to this, there has been an escalating development in the marketplace for recruitment, advertisement, assessment, and interviewing. Moreover,  human resource technology lowers the risks of systemic errors in comparison to the conventional methods of human resourcing. This helps in time management, along with increasing productivity and reducing employment costs.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global human resource (HR) technology market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on application, type, end-use industry and company size.

Breakup by Application:

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

Breakup by Type:

  • Inhouse
  • Outsourced
     

Breakup by End-Use Industry:

  • TTH (Travel, Transportation, Hospitality)
  • Public Sector
  • Health Care
  • Information Technology
  • BFSI (Banking, Financial services, and Insurance)
  • Others
     

Breakup by Company Size:

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

Breakup by Region:

  • North America
  • Europe        
  • Asia Pacific
  • Middle East and Africa
  • Latin America
     

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being SAP, Workday, ADP, Oracle, Microsoft, Kronos Incorporated, Ultimate Software, SumTotal Systems, IBM and Ceridian, etc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Application, Type, End-Use Industry, Company Size, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered SAP, Workday,  ADP, Oracle, Microsoft, Kronos Incorporated, Ultimate Software, SumTotal Systems, IBM and Ceridian
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1    Preface
2    Scope and Methodology
   2.1    Objectives of the Study
   2.2    Stakeholders
   2.3    Data Sources
      2.3.1    Primary Sources
      2.3.2    Secondary Sources
   2.4    Market Estimation
      2.4.1    Bottom-Up Approach
      2.4.2    Top-Down Approach
   2.5    Forecasting Methodology
3    Executive Summary
4    Introduction
   4.1    Overview
   4.2    Key Industry Trends
5    Global Human Resource Technology Market
   5.1    Market Overview
   5.2    Market Performance
   5.3    Impact of COVID-19
   5.4    Market Breakup by Application
   5.5    Market Breakup by Type
   5.6    Market Breakup by End-Use Industry
   5.7    Market Breakup by Company Size
   5.8    Market Breakup by Region
   5.9    Market Forecast
   5.10    SWOT Analysis
      5.10.1    Overview
      5.10.2    Strengths
      5.10.3    Weaknesses
      5.10.4    Opportunities
      5.10.5    Threats
   5.11    Value Chain Analysis
   5.12    Porters Five Forces Analysis
      5.12.1    Overview
      5.12.2    Bargaining Power of Buyers
      5.12.3    Bargaining Power of Suppliers
      5.12.4    Degree of Competition
      5.12.5    Threat of New Entrants
      5.12.6    Threat of Substitutes
   5.13    Price Analysis
6    Market Breakup by Application
   6.1    Talent Management
      6.1.1    Market Trends
      6.1.2    Market Forecast
   6.2    Payroll Management
      6.2.1    Market Trends
      6.2.2   Market Forecast
   6.3    Performance Management
      6.3.1    Market Trends
      6.3.2    Market Forecast
   6.4    Workforce Management
      6.4.1    Market Trends
      6.4.2    Market Forecast
   6.5    Recruitment
      6.5.1    Market Trends
      6.5.2    Market Forecast
   6.6    Others
      6.6.1    Market Trends
      6.6.2    Market Forecast
7    Market Breakup by Type
   7.1    Inhouse
      7.1.1    Market Trends
      7.1.2    Market Forecast
   7.2    Outsourced
      7.2.1    Market Trends
      7.2.2    Market Forecast
8    Market Breakup by End-Use Industry
   8.1    TTH (Travel, Transportation, and Hospitality)
      8.1.1    Market Trends
      8.1.2    Market Forecast
   8.2    Public Sector
      8.2.1    Market Trends
      8.2.2    Market Forecast
   8.3    Health Care
      8.3.1    Market Trends
      8.3.2    Market Forecast
   8.4    Information Technology
      8.4.1    Market Trends
      8.4.2    Market Forecast
   8.5    BFSI (Banking, Financial Services, and Insurance)
      8.5.1    Market Trends
      8.5.2    Market Forecast
   8.6    Others
      8.6.1    Market Trends
      8.6.2    Market Forecast
9    Market Breakup by Company Size
   9.1    Less than 1k Employees
      9.1.1    Market Trends
      9.1.2    Market Forecast
   9.2    1k - 5k Employees
      9.2.1    Market Trends
      9.2.2    Market Forecast
   9.3    Greater than 5k Employees
      9.3.1    Market Trends
      9.3.2    Market Forecast
10    Market Breakup by Region
   10.1    North America
      10.1.1    Market Trends
      10.1.2    Market Forecast
   10.2    Asia Pacific
      10.2.1    Market Trends
      10.2.2    Market Forecast
   10.3    Europe
      10.3.1    Market Trends
      10.3.2    Market Forecast
   10.4    Middle East and Africa
      10.4.1    Market Trends
      10.4.2    Market Forecast
   10.5    Latin America
      10.5.1    Market Trends
      10.5.2    Market Forecast
11    Competitive Landscape
   11.1    Market Structure
   11.2    Key Players
   11.3    Profiles of Key Players
      11.3.1    SAP
      11.3.2    Workday
      11.3.3    ADP
      11.3.4    Oracle
      11.3.5    Microsoft
      11.3.6    Kronos Incorporated
      11.3.7    Ultimate Software
      11.3.8    SumTotal Systems
      11.3.9    IBM
      11.3.10    Ceridian

List of Figures

Figure 1: Global: Human Resource Technology Market: Major Drivers and Challenges
Figure 2: Global: Human Resource Technology Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Human Resource Technology Market: Breakup by Application (in %), 2021
Figure 4: Global: Human Resource Technology Market: Breakup by Type (in %), 2021
Figure 5: Global: Human Resource Technology Market: Breakup by End-Use Industry (in %), 2021
Figure 6: Global: Human Resource Technology Market: Breakup by Company Size (in %), 2021
Figure 7: Global: Human Resource Technology Market: Breakup by Region (in %), 2021
Figure 8: Global: Human Resource Technology Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 9: Global: Human Resource Technology Industry: SWOT Analysis
Figure 10: Global: Human Resource Technology Industry: Value Chain Analysis
Figure 11: Global: Human Resource Technology Industry: Porter’s Five Forces Analysis
Figure 12: Global: Human Resource Technology (Talent Management) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 13: Global: Human Resource Technology (Talent Management) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 14: Global: Human Resource Technology (Payroll Management) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 15: Global: Human Resource Technology (Payroll Management) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 16: Global: Human Resource Technology (Performance Management) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 17: Global: Human Resource Technology (Performance Management) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 18: Global: Human Resource Technology (Workforce Management) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 19: Global: Human Resource Technology (Workforce Management) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 20: Global: Human Resource Technology (Recruitment) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 21: Global: Human Resource Technology (Recruitment) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 22: Global: Human Resource Technology (Others) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 23: Global: Human Resource Technology (Others) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 24: Global: Human Resource Technology (Inhouse) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 25: Global: Human Resource Technology (Inhouse) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 26: Global: Human Resource Technology (Outsourced) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 27: Global: Human Resource Technology (Outsourced) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 28: Global: Human Resource Technology (Travel, Transportation, and Hospitality) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 29: Global: Human Resource Technology (Travel, Transportation, and Hospitality) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 30: Global: Human Resource Technology (Public Sector) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 31: Global: Human Resource Technology (Public Sector) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 32: Global: Human Resource Technology (Health Care) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 33: Global: Human Resource Technology (Health Care) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 34: Global: Human Resource Technology (Information Technology) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 35: Global: Human Resource Technology (Information Technology) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 36: Global: Human Resource Technology (Banking, Financial Services, and Insurance) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 37: Global: Human Resource Technology (Banking, Financial Services, and Insurance) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 38: Global: Human Resource Technology (Others) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 39: Global: Human Resource Technology (Others) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 40: Global: Human Resource Technology (Less than 1k Employees) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 41: Global: Human Resource Technology (Less than 1k Employees) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 42: Global: Human Resource Technology (1k -5k Employees) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 43: Global: Human Resource Technology (1k -5k Employees) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 44: Global: Human Resource Technology (Greater than 5k Employees) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 45: Global: Human Resource Technology (Greater than 5k Employees) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 46: North America: Human Resource Technology Market: Sales Value (in Billion US$), 2016 & 2021
Figure 47: North America: Human Resource Technology Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 48: Asia Pacific: Human Resource Technology Market: Sales Value (in Billion US$), 2016 & 2021
Figure 49: Asia Pacific: Human Resource Technology Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 50: Europe: Human Resource Technology Market: Sales Value (in Billion US$), 2016 & 2021
Figure 51: Europe: Human Resource Technology Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 52: Middle East and Africa: Human Resource Technology Market: Sales Value (in Billion US$), 2016 & 2021
Figure 53: Middle East and Africa: Human Resource Technology Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 54: Latin America: Human Resource Technology Market: Sales Value (in Billion US$), 2016 & 2021
Figure 55: Latin America: Human Resource Technology Market Forecast: Sales Value (in Billion US$), 2022-2027

List of Tables

Table 1: Global: Human Resource Technology Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Human Resource Technology Market Forecast: Breakup by Application (in Billion US$), 2022-2027
Table 3: Global: Human Resource Technology Market Forecast: Breakup by Type (in Billion US$), 2022-2027
Table 4: Global: Human Resource Technology Market Forecast: Breakup by End-Use Industry (in Billion US$), 2022-2027
Table 5: Global: Human Resource Technology Market Forecast: Breakup by Company Size (in Billion US$), 2022-2027
Table 6: Global: Human Resource Technology Market Forecast: Breakup by Region (in Billion US$), 2022-2027
Table 7: Global: Human Resource Technology Market Structure
Table 8: Global: Human Resource Technology Market: Key Players

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Key Questions Answered in This Report

The global human resource (HR) technology market was valued at US$ 28.65 Billion in 2021. 

We expect the global human resource (HR) technology market to exhibit a CAGR of 9.2% during 2022-2027.

The growing adoption of automated solutions for minimizing the risks of systemic errors in human resourcing with enhanced time- and cost-effectiveness, is currently driving the global human resource (HR) technology market. 

Sudden outbreak of the COVID-19 pandemic has led to a significant adoption of human resource (HR) technology across several organizations for time management, workforce management, and increasing productivity during the work-from-home scenario.

Based on the application, the global human resource (HR) technology market has been segregated into talent management, payroll management, performance management, workforce management, recruitment, and others, where talent management currently represents the largest segment.

Based on the type, the global human resource (HR) technology market can be segmented into inhouse and outsourced. Currently, outsourced holds the majority of the total market share.

Based on the end-use industry, the global human resource (HR) technology market has been categorized into TTH (travel, transportation, hospitality), public sector, health care, information technology, BFSI (banking, financial services, and insurance), and others. Among these, the information technology exhibits a clear dominance in the market.

Based on the company size, the global human resource (HR) technology market can be divided into less than 1k employees, 1k -5k employees, and greater than 5k employees. Currently, greater than 5k employees account for the majority of the total market share.

On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

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