HR Software Market Size to Grow by USD 11.17 Bn, Increased HR Software Budgets to Boost Market Growth - Technavio

NEW YORK, Oct. 24, 2022 /PRNewswire/ -- The "HR Software Market by Deployment (Cloud and On-premise) and Geography (North America, Europe, APAC, Middle East and Africa, and South America) - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.

The potential growth difference for the HR software market size between 2021 and 2026 is USD 11.17 billion. To get the exact yearly growth variance and the Y-O-Y growth rate, Request a FREE PDF Sample Report

Key Market Dynamics

• Market Driver: Increased HR software budgets is driving the human resource (HR) software market growth. Large companies are spending a portion of their HR budgets on advanced technologies such as human resource management system solutions and human capital management (HCM). Cloud-based solutions have also fueled the growth of cloud-based HR technologies. The market is changing significantly, as many venture capitalists are investing in new HR software, including tools for tax management, payroll processing, customized dashboards, and analytics. Therefore, the market is expected to grow at a significant rate during the forecast period.
• Market Challenge: Data privacy and security concerns are challenging the human resource (HR) software market's growth. Organizations transfer their data to the cloud only if the services are reliable and secure. Moreover, they have less control over such data due to high dependence on cloud computing service providers. Many end-users are concerned about data security policies that govern cloud-based solutions. Such factors are anticipated to limit the growth of the market during the forecast period.

To learn about additional key drivers, trends, and challenges available with Technavio, Read our FREE Sample Report right now!

Market Segmentation

By deployment, the cloud segment will be the largest contributor to market growth during the forecast period. Cloud-based HR software provides a lot of flexibility when it comes to establishing the IT architecture of HR software. The popularity of cloud-based HR software solutions is increasing due to their cost-effectiveness, especially among small businesses. This, in turn, is expected to drive the growth of the market in the cloud-based deployment segment during the forecast period.

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By geography, North America will be the leading region with 33% of the market's growth during the forecast period. The US is the key country for the HR software market in the region.

View our FREE PDF sample report for additional insights into the contribution of all the segments and regional opportunities in the report.

Some Companies Mentioned

• Accenture Plc
• Automatic Data Processing Inc.
• Automatic Payroll Systems Inc.
• Bamboo HR LLC
• Ceridian HCM Holding Inc.
• Cornerstone OnDemand Inc.
• EmployWise
• Epicor Software Corp.
• HR Bakery Ltd
• International Business Machines Corp.
• isolved HCM LLC
• Oracle Corp.
• PATRIOT SOFTWARE LLC
• Paycom Software Inc.
• Paycor Inc.
• Paylocity Holding Corp.
• Rippling People Center Inc.
• SAP SE
• UKG Inc
• Workday Inc.

This report provides a full list of key vendors, their strategies, and the latest developments. Buy Now to gain access to exclusive vendor information

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Key Topics Covered

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Deployment
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary 
• Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry 
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition 
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Deployment

• 5.1 Market segments 
• Exhibit 24: Chart on Deployment - Market share 2021-2026 (%)
• Exhibit 25: Data Table on Deployment - Market share 2021-2026 (%)

• 5.2 Comparison by Deployment 
• Exhibit 26: Chart on Comparison by Deployment
• Exhibit 27: Data Table on Comparison by Deployment

• 5.3 Cloud - Market size and forecast 2021-2026
• Exhibit 28: Chart on Cloud - Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Cloud - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Cloud - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Cloud - Year-over-year growth 2021-2026 (%)

• 5.4 On-premise - Market size and forecast 2021-2026
• Exhibit 32: Chart on On-premise - Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on On-premise - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on On-premise - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on On-premise - Year-over-year growth 2021-2026 (%)

• 5.5 Market opportunity by Deployment 
• Exhibit 36: Market opportunity by Deployment ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview 
• Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation 
• Exhibit 38: Chart on Market share by geography 2021-2026 (%)
• Exhibit 39: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison 
• Exhibit 40: Chart on Geographic comparison
• Exhibit 41: Data Table on Geographic comparison

• 7.3 North America - Market size and forecast 2021-2026
• Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.4 Europe - Market size and forecast 2021-2026
• Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.5 APAC - Market size and forecast 2021-2026
• Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 7.6 Middle East and Africa - Market size and forecast 2021-2026 
• Exhibit 54: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 7.7 South America - Market size and forecast 2021-2026
• Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 7.8 US - Market size and forecast 2021-2026
• Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.9 Germany - Market size and forecast 2021-2026
• Exhibit 66: Chart on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 7.10 UK - Market size and forecast 2021-2026
• Exhibit 70: Chart on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on UK - Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on UK - Year-over-year growth 2021-2026 (%)

• 7.11 Japan - Market size and forecast 2021-2026
• Exhibit 74: Chart on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on Japan - Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on Japan - Year-over-year growth 2021-2026 (%)

• 7.12 India - Market size and forecast 2021-2026
• Exhibit 78: Chart on India - Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on India - Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on India - Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on India - Year-over-year growth 2021-2026 (%)

• 7.13 Market opportunity by geography 
• Exhibit 82: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges 
• Exhibit 83: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape 
• Exhibit 84: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption 
• Exhibit 85: Overview on factors of disruption

• 9.4 Industry risks 
• Exhibit 86: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered 
• Exhibit 87: Vendors covered

• 10.2 Market positioning of vendors 
• Exhibit 88: Matrix on vendor position and classification

• 10.3 Accenture Plc 
• Exhibit 89: Accenture Plc - Overview
• Exhibit 90: Accenture Plc - Business segments
• Exhibit 91: Accenture Plc - Key news
• Exhibit 92: Accenture Plc - Key offerings
• Exhibit 93: Accenture Plc - Segment focus

• 10.4 Automatic Data Processing Inc. 
• Exhibit 94: Automatic Data Processing Inc. - Overview
• Exhibit 95: Automatic Data Processing Inc. - Business segments
• Exhibit 96: Automatic Data Processing Inc. - Key news
• Exhibit 97: Automatic Data Processing Inc. - Key offerings
• Exhibit 98: Automatic Data Processing Inc. - Segment focus

• 10.5 Ceridian HCM Holding Inc. 
• Exhibit 99: Ceridian HCM Holding Inc. - Overview
• Exhibit 100: Ceridian HCM Holding Inc. - Business segments
• Exhibit 101: Ceridian HCM Holding Inc. - Key news
• Exhibit 102: Ceridian HCM Holding Inc. - Key offerings
• Exhibit 103: Ceridian HCM Holding Inc. - Segment focus

• 10.6 Cornerstone OnDemand Inc. 
• Exhibit 104: Cornerstone OnDemand Inc. - Overview
• Exhibit 105: Cornerstone OnDemand Inc. - Product / Service
• Exhibit 106: Cornerstone OnDemand Inc. - Key offerings

• 10.7 International Business Machines Corp. 
• Exhibit 107: International Business Machines Corp. - Overview
• Exhibit 108: International Business Machines Corp. - Business segments
• Exhibit 109: International Business Machines Corp. - Key offerings
• Exhibit 110: International Business Machines Corp. - Segment focus

• 10.8 Oracle Corp. 
• Exhibit 111: Oracle Corp. - Overview
• Exhibit 112: Oracle Corp. - Business segments
• Exhibit 113: Oracle Corp. - Key news
• Exhibit 114: Oracle Corp. - Key offerings
• Exhibit 115: Oracle Corp. - Segment focus

• 10.9 Paycom Software Inc. 
• Exhibit 116: Paycom Software Inc. - Overview
• Exhibit 117: Paycom Software Inc. - Product / Service
• Exhibit 118: Paycom Software Inc. - Key offerings

• 10.10 SAP SE 
• Exhibit 119: SAP SE - Overview
• Exhibit 120: SAP SE - Business segments
• Exhibit 121: SAP SE - Key news
• Exhibit 122: SAP SE - Key offerings
• Exhibit 123: SAP SE - Segment focus

• 10.11 UKG Inc 
• Exhibit 124: UKG Inc - Overview
• Exhibit 125: UKG Inc - Product / Service
• Exhibit 126: UKG Inc - Key offerings

• 10.12 Workday Inc. 
• Exhibit 127: Workday Inc. - Overview
• Exhibit 128: Workday Inc. - Product / Service
• Exhibit 129: Workday Inc. - Key offerings

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist 
• Exhibit 130: Inclusions checklist
• Exhibit 131: Exclusions checklist

• 11.3 Currency conversion rates for US$ 
• Exhibit 132: Currency conversion rates for US$

• 11.4 Research methodology 
• Exhibit 133: Research methodology
• Exhibit 134: Validation techniques employed for market sizing
• Exhibit 135: Information sources

• 11.5 List of abbreviations 
• Exhibit 136: List of abbreviations

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

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Technavio Research
Jesse Maida
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