市場調查報告書
商品編碼
1373719
核心HR軟體全球市場規模、佔有率和行業趨勢分析報告:2023-2030年按組件、部署類型、行業和地區分類的展望和預測Global Core HR Software Market Size, Share & Industry Trends Analysis Report By Component, By Deployment Type (Cloud, and On-premise), By Vertical, By Regional Outlook and Forecast, 2023 - 2030 |
2030年,全球核心HR軟體市場規模預計將達到173億美元,預測期內市場年複合成長率率為7.3%。
根據KBV Cardinal Matrix發表的分析,甲骨文公司是該市場的領導者。 SAP SE、IBM Corporation 和 ADP, Inc. 等公司是市場上的主要創新者。2021年 4月,SAP SE 與 Dediq GmbH 成立了一家合資企業,開發專用銀行和保險公司設計的客製化應用程式和服務。
市場成長要素
擁抱機器人流程自動化(RPA)
機器人流程自動化技術為人力資源管理解決方案帶來了效率和創新,對於企業改進人才策略非常重要。公司尋求創新方法,以最大限度地降低與服務提供和人才招募相關的成本。透過使用融合人工智慧和機器學習的 RPA 功能,公司可以減少不必要的 IT 支出並標準化業務。為了滿足最終用戶的需求,市場參與企業提供與 RPA 整合的尖端工具。市場參與者預計將 RPA 與招聘軟體和申請人追蹤系統等人力資源工具結合起來,因為 RPA 與人力資源部部門的人力資源工具整合會產生積極的結果。預計這將擴大核心HR軟體的市場。
人工智慧和自動化的接受程度更高
核心HR軟體市場被人工智慧和自動化徹底改變,為改善勞動力管理和人力資源流程帶來了巨大的前景。人工智慧主導的演算法可以分析大量資料以找到最佳候選人,加快招聘流程並提高員工素質,徹底改變招聘流程。自動化簡化了日常人力資源流程,例如社會福利管理、入職和休假管理,使人力資源負責人能夠致力於策略計劃和員工發展。無需員工輸入明確的資料,人工智慧功能即可計算和追蹤員工的工作時間和工資,並將這些資訊發送到薪資核算進行處理。總之,由於人工智慧和自動化的日益普及改變了人力業務,核心HR軟體的市場預計將擴大。
市場抑制因素
核心HR軟體的實施成本高昂
特別是對於中小型企業來說,實施核心HR軟體的成本是一個主要障礙。實施成本還包括員工培訓、客製化、軟體許可費、資料遷移和經常性維護費用。此外,根據企業的規模和複雜性,實施核心HR軟體的成本可能從數萬美元到數百萬美元不等。預算有限的小型企業可能會發現這些成本負擔過重,因而不願對其人力資源系統進行現代化改造。一旦成本問題得到解決並提供更彈性價格設定模型,核心HR軟體就有可能獲得多個業務部門的認可。因此,此類軟體的高成本可能會阻礙市場成長。
組件展望
依組件分類,市場分為軟體和服務。2022年,學習管理部門佔據市場最大的收益佔有率。有效的員工學習和發展對員工績效和組織競爭力產生有益影響,使其成為勞動力發展和企業成長的重要組成部分。當員工接受培訓時,他們可以提高學習和獲得新技能的能力,使他們在職場和公司內部更有生產力和競爭。 LMS 包括技術整合、內容建立和分發策略。 LMS 幫助公司創建有用的培訓模組,員工可以使用這些模組來學習和保留資訊。透過隨時存取模組,員工可以提高工作效率並為業務增加價值。
部署類型展望
根據部署類型,市場分為雲端和本地。在2022年市場中,本地模型將佔據重要的收益佔有率。這可能與本地部署的許多好處有關,包括更高的資料保護和安全性。本地部署方法優於雲端基礎的部署模型,因為它們提供更高的資料安全性和更少的資料外洩。這些偏好推動了公共和私營部門對本地配備模式的需求。
產業展望
依行業分類,可分為政府、製造業、能源/公共產業、消費品/零售、醫療保健、運輸/物流、IT/通訊、BFSI 等。2022年,政府部門在市場中佔有最高的收益佔有率。地方政府人力資源(HR)部門對於維持員工滿意度非常重要。從面試到入職流程以及其間的一切,人力資源部部門在政府僱員的旅程中發揮著重要作用。政府機構有很多員工,因此他們需要軟體來管理他們的文書工作。政府部門尋求改進的工具來應對預算挑戰和不斷變化的人力資源優先事項。
區域展望
從區域來看,對北美、歐洲、亞太地區、拉丁美洲、中東和非洲的市場進行了分析。2022年,北美地區以最高的收益佔有率引領市場。由於該地區擁有廣泛且多樣化的商業環境,包括中小企業(SME)和國際公司,因此對這些解決方案的需求量很大。北美也有同樣複雜且動態的勞動規則和法規。領先的人力資源軟體透過準確管理稅務計算、薪資核算和彙報來幫助企業遵守這些法規。雲端基礎的核心HR軟體因其適應性、擴充性和經濟性而在該地區越來越受歡迎。雲端解決方案簡化了對人力資源資料的存取,即使在遠端位置和分散式團隊中也是如此。
The Global Core HR Software Market size is expected to reach $17.3 billion by 2030, rising at a market growth of 7.3% CAGR during the forecast period.
With the introduction of core HR software, all HR-related activities, such as personnel records, benefit administration, payroll, and performance management, are merged into a single platform. Therefore, the software segment would generate approximately 3/5th share of the market by 2030. Traditional HR operations were disjointed, with data dispersed across numerous platforms and manual workflows, resulting in inefficiencies and inconsistent data. This centralization streamlines HR procedures and provides a comprehensive perspective of worker data, enabling reasoned decision-making and strategic planning.
The major strategies followed by the market participants are Acquisitions as the key developmental strategy to keep pace with the changing demands of end users. For instance, In June, 2023, UKG, Inc. has announced the acquisition the agreement to acquire Immedis, to launch UKG One View. UKG. Additionally, In 2023, May, IBM Corporation acquired Polar Security, to furnish security teams with a comprehensive data security platform encompassing all data formats across various storage locations, including SaaS, on-premises, and public cloud infrastructure.
Based on the Analysis presented in the KBV Cardinal matrix; Oracle Corporation is the forerunners in the Market. Companies such as SAP SE, IBM Corporation, ADP, Inc. are some of the key innovators in Market. In April, 2021, SAP SE formed a joint venture with Dediq GmbH, to create tailored applications and services designed exclusively for banking and insurance companies.
Market Growth Factors
Acceptance Of Robot Process Automation (RPA)
Robot Process Automation technology is crucial in bringing efficiency and innovation to human resource management solutions and allows businesses to implement improved talent strategies. Companies are searching for innovative approaches to minimize costs associated with service delivery and talent acquisition. Enterprises may standardize operations by reducing unnecessary IT expenditures using RPA capabilities embedded with AI and machine learning. To meet end-user needs, market participants provide cutting-edge tools integrated with RPA. Market players are anticipated to combine RPA with HR tools, including recruiting software and application tracking systems, due to the favorable results of RPA integrated with HR tools across human resource departments. This is anticipated to help the market expansion for core HR software.
Rising Acceptance of AI And Automation
The market for core HR software is being entirely transformed by AI and automation, which presents enormous prospects for improving labor management and HR procedures. By analyzing massive amounts of data to find the best candidates, AI-driven algorithms are revolutionizing the hiring process by speeding up the hiring process and raising the quality of employees. Routine HR processes like benefits administration, onboarding, and leave management are simplified by automation, freeing HR professionals to concentrate on strategic projects and employee development. Without needing explicit data entry from the employees, AI features compute and track the workforce's working hours and pay rates, then send the information to payroll for processing. In conclusion, the market for core HR software is expected to increase due to the growing popularity of AI and automation for changing HR operations.
Market Restraining Factors
High Deployment Costs of Core Hr Software
Specifically for small & medium-sized businesses (SMEs), the cost of deploying essential HR software has emerged as a significant barrier to adoption. The cost for installation also covers employee training, customization, software licensing fees, data migration, and regular upkeep expenses. Furthermore, depending on the size and complexity of the business, the cost of deploying core HR software could vary from tens of thousands to millions of dollars. SMEs with limited budgets may find such costs onerous and refrain from modernizing their HR systems. The latent potential for core HR software acceptance across multiple company sectors may be unlocked if the cost issues are resolved and more flexible pricing models are offered. Hence, the high cost of such software can hamper the growth of the market.
Component Outlook
On the basis of component, the market is segmented into software and services. In 2022, learning management the segment witnessed the largest revenue share in the market. Effective employee learning and development has a beneficial impact on employee performance & organizational competitiveness, making it a crucial component of workforce development and corporate growth. When they receive training, employees are better equipped to acquire and gain new skills, boosting their productivity and competitiveness at work and within their businesses. It entails technological integration, content production, and distribution strategy. LMS aids businesses in creating useful training modules that employees may use to learn and retain information. Since they may access the modules whenever they choose, employees can be more productive and add value to the business.
Deployment Type Outlook
Based on deployment type, the market is classified into cloud and on-premise. The on-premise segment recorded a remarkable revenue share in the market in 2022. This can be associated with the many benefits of on-premises deployment, including high data protection and safety. Industries favor on-premises deployment methods over cloud-based deployment models because they offer higher data security and experience fewer data breaches. This preference fuels demand for on-premises deployment models in both the public and private sectors.
Vertical Outlook
By vertical, the market is categorized into government, manufacturing, energy & utilities, consumer goods & retail, healthcare, transportation & logistics, IT & telecom, BFSI, and others. In 2022, the government segment generated the highest revenue share in the market. Local governments' Human Resources (HR) division is essential to maintaining employee satisfaction. From the interview through the offboarding process and all in between, HR has a part to play in an employee's path while working for that government agency. The government has a sizable staff; therefore, managing employee paperwork requires software. The government sector seeks improved tools to manage its budgetary challenges and shifting priorities for managing HR.
Regional Outlook
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region led the market by generating the highest revenue share. Such solutions are in high demand due to the region's extensive and diverse corporate environment, including small and medium-sized businesses (SMEs) and international firms. North America likewise has intricate and dynamic labor rules and regulations. By precisely managing tax calculations, payroll, and reporting, the leading HR software aids businesses in abiding by these regulations. Due to its adaptability, scalability, and affordability, cloud-based core HR software is becoming more popular in the area. Cloud solutions simplify accessing HR data, even for distant or distributed teams.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Workday, Inc., SAP SE, ADP, Inc., UKG, Inc., Oracle Corporation, Ceridian HCM Holding, Inc., IBM Corporation, Paycom Payroll LLC, Paylocity Holding Corporation and Cornerstone OnDemand, Inc.
Recent Strategies Deployed in Core HR Software Market
Partnerships, Collaborations, and Agreements:
Jun-2023: IBM Corporation expanded its partnership with Adobe, Inc., a US-based multinational software firm, to expedite content supply chains for brands using advanced AI technologies, including Adobe Sensei GenAI services and Adobe Firefly. This partnership aimed to assist clients in navigating the intricate world of generative AI, uniting innovation, technology, and design to digitally transform customer interactions.
Apr-2023: Workday, Inc. entered a partnership with Alight, Inc., a leading cloud-based human capital technology and services provider, aiming to deliver a streamlined and cohesive payroll solution for HR and payroll experts globally. This partnership empowers customers to expedite their innovation endeavours by replacing fragmented and unconnected processes and systems. Additional advantages encompass payment services, earned wage access, flexible managed service options, and localized proficiency to help organizations.
Oct-2022: IBM Corporation signed an agreement with BPER Banca Group, the third largest banking group in Italy, to enhance and accelerate the bank's evolution into a digital business. Under the agreement the bank enhanced its hybrid cloud strategy, modernizing technology infrastructure and applications. Additionally, the collaboration harnessed IBM Cloud for Financial Services' security, scalability, and reliability to address industry compliance, alongside IBM z16 and Red Hat OpenShift for robustness in this heavily regulated sector.
Apr-2021: Oracle Corporation collaborated with ServiceNow, the leading digital workflow company that makes work better for people. Through this collaboration, enterprise clients utilized their service portal and the ServiceNow IT Operations Management (ITOM) Visibility application to access and oversee OCI resources. Additionally, customers jointly using the Now Platform and OCI benefited from a seamless experience that optimized cloud investments and unlocked the potential of artificial intelligence for proactive operations.
Acquisition and Mergers:
Jun-2023: UKG, Inc. has announced the acquisition the agreement to acquire Immedis, a subsidiary of CluneTech, a group of technology companies, to launch UKG One View. UKG One View offers features like country-specific payroll administration, instant payroll reporting, and automated financial integration for sending invoice data to external accounting systems. Additionally, the solution empowered enterprises to handle, monitor, and process payroll information across various countries using a single, user-friendly platform.
May-2023: IBM Corporation acquired Polar Security, a pioneer in automating cloud data security and compliance. This acquisition aims to furnish security teams with a comprehensive data security platform encompassing all data formats across various storage locations, including SaaS, on-premises, and public cloud infrastructure.
Jan-2023: ADP, Inc. announced the acquisition of Securax Tech Solutions (India) Private Limited, a time and attendance solutions company in the APAC region. This acquisition will bolster capabilities in leave and time tracking, shift and overtime management, and open doors to burgeoning sectors like Logistics, Healthcare, and E-Commerce in India and APAC.
Jan-2022: Paylocity Holding Corporation acquired Cloudsnap, a low-code integration platform, to enhance the efficient and effective modern integration and data sharing between crucial systems, unifying and automating HR, Finance, Benefits, and other business processes. Through this acquisition, Paylocity emphasized the significance of fostering robust API integrations, not only among HR applications but also with other business systems like financial software.
Dec-2021: Ceridin HCM Holding, Inc. took over ADAM HCM, a leading payroll and HCM company serving customers worldwide. This announcement reinforces Ceridian's commitment to introducing Dayforce Payroll in Mexico, the always-available global payroll platform that enhances precision through real-time data auditing and handles worldwide compliance intricacies in a unified solution.
Sep-2021: Paylocity Holding Corporation entered into an agreement to acquire Blue Marble Payroll, a longtime partner providing international payroll solutions, to help clients better manage their international workforces through a unified solution to pay employees, automate processes, and stay compliant with local regulations in other countries. Through this acquisition, clients enhanced their global workforces using a unified solution for paying employees, automating processes, and ensuring compliance with local regulations in various countries.
Sep-2021: Workday, Inc. announced the acquisition of Zimit LLC, a cloud based CPQ (configure price quote) solution for the enterprise services industry, to provide quote-to-cash process automation for service sectors like communications, media, technology, and professional services. This acquisition converted customer project or service opportunities into a service-focused quotation and proposal, subsequently transferring them to Workday PSA to generate customer contracts and project specifics.
Apr-2021: SAP formed a joint venture with Dediq GmbH, a German investment firm, to form a new financial services business unit. The aim of the joint venture is to create tailored applications and services designed exclusively for banking and insurance companies. The new firm produced FSI applications utilizing SAP technologies such as SAP HANA, SAP S/4HANA, and SAP Business Technology Platform to enhance its portfolio.
Product Launches and Product Expansions:
Apr-2023: Paycom Payroll LLC announced the launch of Global HCM, to enhance its businesses and enable easy-to-use system. Through this Product, Paycom has expanded in footprints around the world. The software, featuring Employee Self-Service® and Manager on-the-Go®, links HR processes to enhance employee engagement in multinational organizations. It offers a unified, single-database model for streamlined operations, eliminating the need for multiple systems and logins.
Nov-2022: Ceridian HCM Holding, Inc. has introduced Dayforce Wallet, an innovative on-demand pay solution, in the United Kingdom (UK), allowing employees to conveniently access their earned pay when needed rather than waiting until month-end. Dayforce Wallet enabled company to cater to our employees' varied needs, enhance employee engagement, and remain competitive in the evolving world of work.
Feb-2022: IBM has unveiled its integrated global platform, "Let's create," marking a significant brand initiative in over a decade. This initiative embodies IBM's vision, strategy, and purpose, emphasizing innovation and collaboration to deliver enduring value for clients and partners, addressing critical business challenges. "Let's create" extends an invitation to clients and partners to collaborate with IBM, leveraging the hybrid cloud, artificial intelligence (AI) technology, and consulting proficiency to jointly innovate and solve complex problems.
Sep-2021: Oracle Corporation announced a new payroll solution, Oracle Payroll Core, that will help organizations, starting with Intergovernmental and Nongovernmental organizations (IGOs and NGOs), navigate complex pay rules and policies to efficiently pay any employee, anywhere. Additionally, through the analysis of payroll data in conjunction with other HR information like competencies, demographics, and performance data, Oracle Payroll Core assists organizations in acquiring the insights necessary for making strategic workforce choices.
Market Segments covered in the Report:
By Component
By Deployment Type
By Vertical
By Geography
Companies Profiled
Unique Offerings from KBV Research