The global human resource (HR) technology market grew at a CAGR of 14% during 2014-2019. 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. Looking forward, IMARC Group expects the global human resource technology market to exhibit a double-digit growth during the forecast period (2020-2025).
Market Breakup by Application
Market Breakup by Software Type
Market Breakup by End-Use Industry
Market Breakup by Company Size
Market Breakup by Region
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