市场调查报告书
商品编码
1373719
核心人力资源软体全球市场规模、份额和行业趋势分析报告:2023-2030 年按组件、部署类型、行业和地区分類的展望和预测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,全球核心人力资源软体市场规模预计将达到173亿美元,预测期内市场年复合成长率率为7.3%。
根据KBV Cardinal Matrix发表的分析,甲骨文公司是该市场的领导者。 SAP SE、IBM Corporation 和 ADP, Inc. 等公司是市场上的主要创新者。 2021 年 4 月,SAP SE 与 Dediq GmbH 成立了一家合资企业,开发专用银行和保险公司设计的客製化应用程式和服务。
市场成长要素
拥抱机器人流程自动化 (RPA)
机器人流程自动化技术为人力资源管理解决方案带来了效率和创新,对于企业改进人才策略至关重要。公司正在寻求创新方法,以最大限度地降低与服务提供和人才招募相关的成本。透过使用融合人工智慧和机器学习的 RPA 功能,公司可以减少不必要的 IT 支出并标准化业务。为了满足最终用户的需求,市场参与企业正在提供与 RPA 整合的尖端工具。市场参与者预计将 RPA 与招聘软体和申请人追踪系统等人力资源工具结合起来,因为 RPA 与人力资源部部门的人力资源工具整合会产生积极的结果。预计这将扩大核心人力资源软体的市场。
人工智慧和自动化的接受程度更高
核心人力资源软体市场正在被人工智慧和自动化彻底改变,为改善劳动力管理和人力资源流程带来了巨大的前景。人工智慧主导的演算法可以分析大量资料以找到最佳候选人,从而加快招聘流程并提高员工素质,从而彻底改变招聘流程。自动化简化了日常人力资源流程,例如社会福利管理、入职和休假管理,使人力资源负责人能够专注于策略计划和员工发展。无需员工输入明确的资料,人工智慧功能即可计算和追踪员工的工作时间和工资,并将这些资讯发送到薪资核算进行处理。总之,由于人工智慧和自动化的日益普及改变了人力业务,核心人力资源软体的市场预计将扩大。
市场抑制因素
核心人力资源软体的实施成本高昂
特别是对于中小型企业来说,实施核心人力资源软体的成本是一个主要障碍。实施成本还包括员工培训、客製化、软体许可费、资料迁移和经常性维护费用。此外,根据企业的规模和复杂性,实施核心人力资源软体的成本可能从数万美元到数百万美元不等。预算有限的小型企业可能会发现这些成本负担过重,因而不愿对其人力资源系统进行现代化改造。一旦成本问题得到解决并提供更弹性价格设定模型,核心人力资源软体就有可能获得多个业务部门的认可。因此,此类软体的高成本可能会阻碍市场成长。
组件展望
按组件划分,市场分为软体和服务。 2022年,学习管理部门占据市场最大的收益占有率。有效的员工学习和发展对员工绩效和组织竞争力产生有益影响,使其成为劳动力发展和企业成长的重要组成部分。当员工接受培训时,他们可以提高学习和获得新技能的能力,使他们在职场和公司内部更有生产力和竞争。 LMS 包括技术整合、内容建立和分发策略。 LMS 帮助公司创建有用的培训模组,员工可以使用这些模组来学习和保留资讯。透过随时存取模组,您的员工可以提高工作效率并为您的业务付加价值。
部署类型展望
根据部署类型,市场分为云端和本地。在 2022 年市场中,本地模型将占据重要的收益占有率。这可能与本地部署的许多好处有关,包括更高的资料保护和安全性。本地部署方法优于云端基础的部署模型,因为它们提供更高的资料安全性和更少的资料外洩。这些偏好推动了公共和私营部门对本地配备模式的需求。
产业展望
按行业划分,可分为政府、製造业、能源/公共产业、消费品/零售、医疗保健、运输/物流、IT/通讯、BFSI 等。 2022年,政府部门在市场中占有最高的收益占有率。地方政府人力资源 (HR)部门对于维持员工满意度至关重要。从面试到入职流程以及其间的一切,人力资源部部门在政府僱员的旅程中发挥着重要作用。政府机构有很多员工,因此他们需要软体来管理他们的文书工作。政府部门正在寻求改进的工具来应对预算挑战和不断变化的人力资源优先事项。
区域展望
从区域来看,我们对北美、欧洲、亚太地区、拉丁美洲、中东和非洲的市场进行了分析。 2022年,北美地区以最高的收益占有率引领市场。由于该地区拥有广泛且多样化的商业环境,包括中小企业 (SME) 和国际公司,因此对这些解决方案的需求量很大。北美也有同样复杂且动态的劳动规则和法规。领先的人力资源软体透过准确管理税务计算、薪资核算和彙报来帮助企业遵守这些法规。云端基础的核心人力资源软体因其适应性、扩充性和经济性而在该地区越来越受欢迎。云端解决方案简化了对人力资源资料的访问,即使在远端位置和分散式团队中也是如此。
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