Human Resource (HR) Technology Market Report by Application (Talent Management, Payroll Management, Performance Management, Workforce Management, Recruitment, and Others), Type (Inhouse, Outsourced), End-Use Industry (TTH (Travel, Transportation, Hospitality), Public Sector, Health Care, Information Technology, BFSI (Banking, Financial services, and Insurance), and Others), Company Size (Less than 1k Employees, 1k -5k Employees, Greater than 5k Employees), and Region 2024-2032

Human Resource (HR) Technology Market Report by Application (Talent Management, Payroll Management, Performance Management, Workforce Management, Recruitment, and Others), Type (Inhouse, Outsourced), End-Use Industry (TTH (Travel, Transportation, Hospitality), Public Sector, Health Care, Information Technology, BFSI (Banking, Financial services, and Insurance), and Others), Company Size (Less than 1k Employees, 1k -5k Employees, Greater than 5k Employees), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A1798
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Market Overview:

The global human resource (HR) technology market size reached US$ 33.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 53.5 Billion by 2032, exhibiting a growth rate (CAGR) of 5.2% during 2024-2032.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 33.3 Billion
Market Forecast in 2032
US$ 53.5 Billion
Market Growth Rate 2024-2032 5.2%


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.

Global Human Resource (HR) Technology Market

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.

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global human resource (HR) technology market report, along with forecasts at the global and regional level from 2024-2032. Our report has categorized the market based on application, type, end-use industry and company size.

Breakup by Application:

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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  • 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:

 

 
 

 

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  • 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 2023
Historical Period 2018-2023
Forecast Period 2024-2032
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$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
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)

Key Questions Answered in This Report

The global human resource (HR) technology market was valued at US$ 33.3 Billion in 2023.

We expect the global human resource (HR) technology market to exhibit a CAGR of 5.2% during 2024-2032.

The sudden outbreak of the COVID-19 pandemic has led to the rising adoption of Human Resource (HR) technology across several organizations for time management, workforce management, and increasing productivity, during the remote working scenario.

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

Based on the application, the global human resource (HR) technology market has been bifurcated into talent management, payroll management, performance management, workforce management, recruitment, and others. Currently, talent management accounts for the largest market share.

Based on the type, the global human resource (HR) technology market can be segmented into inhouse and outsourced, where 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 sector currently 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 global market share.

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

Some of the major players in the global human resource (HR) technology market include SAP, Workday, ADP, Oracle, Microsoft, Kronos Incorporated, Ultimate Software, SumTotal Systems, IBM, Ceridian, etc.

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Human Resource (HR) Technology Market Report by Application (Talent Management, Payroll Management, Performance Management, Workforce Management, Recruitment, and Others), Type (Inhouse, Outsourced), End-Use Industry (TTH (Travel, Transportation, Hospitality), Public Sector, Health Care, Information Technology, BFSI (Banking, Financial services, and Insurance), and Others), Company Size (Less than 1k Employees, 1k -5k Employees, Greater than 5k Employees), and Region 2024-2032
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