United States Human Resource (HR) Technology Market

Market Overview:

The United States human resource (HR) technology market size reached US$ 8.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 19 Billion by 2028, exhibiting a growth rate (CAGR) of 13.8% during 2023-2028.

Human resource (HR) technology plays a crucial role in organizations. It is used for managing payrolls, onboarding, talent sourcing, performance and workforce management, and employee communication. It also assists in various aspects of employment, starting from the first day of recruitment until the retirement of employees. In the United States, HR technology is widely being adopted instead of conventional HR tools, as it is a cost-effective and time-efficient alternative for managing numerous HR-related tasks.

The United States human resource (HR) technology market is primarily driven by the increasing focus on employing various advanced HRM solutions for time, payroll, and talent management in the corporate sector. This helps improve the labor productivity and the efficiency of the employees in the organizations. Additionally, there has been a considerable increase in the number of HR-focused events and conferences being held in the country. Furthermore, rapid technological innovations and advancements have led to the increased demand for HR solutions to spread awareness regarding the numerous benefits offered by the incorporation of new-age technologies, which are significantly impacting the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the United States human resource (HR) technology market report, along with forecasts at the country and regional levels from 2023-2028. 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:

• Northeast
• Midwest
• South
• West
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

Key Questions Answered in This Report:

• How has the United States human resource (HR) technology market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the United States human resource (HR) technology market?
• What are the key regional markets?
• What is the breakup of the market based on the application?
• What is the breakup of the market based on the type?
• What is the breakup of the market based on the end use industry?
• What is the breakup of the market based on the company size?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the United States human resource (HR) technology market and who are the key players?
• What is the degree of competition in the industry?