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Core Human Resource (HR) Software Market Worth 9.89 Billion USD by 2022
[May 03, 2017]

Core Human Resource (HR) Software Market Worth 9.89 Billion USD by 2022


PUNE, India, May 3, 2017 /PRNewswire/ --

According to a new market research report "Core HR Software Market by Component (Software and Services), Deployment Type (On-Premises and Cloud), Organization Size (SMEs and Large Enterprises), Vertical, and Region - Global forecast to 2022", published by MarketsandMarkets™, the market size is expected to grow from USD 6.47 Billion in 2017 to USD 9.89 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 8.8% during the forecast period.

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Browse 58 market data Tables and 76 Figures spread through 154 Pages and in-depth TOC on "Core HR Software Market"

http://www.marketsandmarkets.com/Market-Reports/core-human-resource-hr-software-market-81186018.html
Early buyers will receive 10% customization on this report.
Rise of the cloud and mobile deployment, and increase in automation in HR processes have led to the increased adoption of core HR software. With the increase in the adoption rate of core HR software among the Small and Medium-Sized Enterprises (SMEs), the Core HR Software Market is expected to gain major traction during the forecast period.

Rapid adoption of core HR software due to a strong and well-established economy makes North America the largest region in terms of global share 

North America is expected to have the largest market share and is expected to dominate the market from 2017 to 2022, because of the adoption of new technologies, such as increased use of smartphones and cloud platform. The start-ups and emerging players in the region offer differentiated, customized, and flexible products to meet the need of HR professionals.

The government sector is expected to contribute to the largest market size during the forecast period 

The government employs a considerable workforce size and requires software to manage documents of an employee. The government sector needs better tools to manage its budget constraint issues and changing priorities to manage the HR. Aging employees and wave of retirement are the top challenges that this sector is facing to manage its workforce. Software, such as pension management and succession planning can help the government in the smooth processing of its HR activities. Moreover, outdated infrastructure is the biggest disadvantage for governments to ntegrate new systems and solutions that would help cope up with this challenge.

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The SMEs segment for core HR software is expected to grow at the highest CAGR during the forecast period 


The SMEs' segment is expected to grow at the highest CAGR in the Core HR Software Market during the forecast period. Organizations with employee range between 100 and 1,000 are categorized under SMEs. SMEs face some specific challenges, such as requirement of domain-specific technical personnel and skilled workforce, budget constraint, and limited economies of scale. Increasing competition has prompted SMEs to invest in this business software and adopt go-to-market strategies to make efficient decisions for business growth. More than large enterprises, SMEs face resource crunch and require better methods to solve the complexities for better cost optimization on their assets and requirements.

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The major vendors that offer core HR software across the globe are Automatic Data Processing (ADP) (US), Ceridian HCM, Inc. (US), CoreHR (Ireland), EmployWise (India), International Business Machine (IBM) Corporation (US), Oracle Corporation (US), Paychex, Inc. (US), Paycom Software, Inc. (US), SAP SE (Germany), SumTotal Systems, LLC. (A Skillsoft Company) (US), Ultimate Software (US), and Workday, Inc. (US).

Browse Related Reports: 

Workforce Management Market by Component (Solutions and Services), Deployment (Cloud and On-premises), Organization Size (SMEs and Enterprises), Vertical, and Region - Global Forecast to 2021
http://www.marketsandmarkets.com/Market-Reports/workforce-management-market-27548173.html

Human Capital Management Market by Solution (Core HR, Talent Management, Payroll and Tax, Workforce Planning and Analytics, Recruiting), Service (Implementation, Training, Consulting), Deployment, User, Industry Vertical, Region - Global Forecast to 2021
http://www.marketsandmarkets.com/Market-Reports/human-capital-management-market-193746782.html

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About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


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