The global HR software market is aimed to assist the human resource(HR) department in coordinating their various activities such as salary payment, bonus payment, deduction in form of penalties, selection and recruitment, training programs, succession planning, performance management and so on. Increasing uses of cloud-based technology for the development of the SaaS (Software as a Service) is anticipated as the leading driver for the development of the market. HR department maintains a lot of important and confidential data including the employee’s information such as mobile phone number, home address, and other financial data, transferring of such crucial data to the software may compromise data security.
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The HR software’s ability to exhibit a lot of dynamic work at a time and also providing customized solutions as per the demand of the user creates high growth potential for HR software market. Furthermore, the introduction of various innovative applications and software including candidate searching, candidate’s ability analysis, and advertisement management software provides a lot of push for the growth of this sector. Integration of various parameters as per the requirement and adding it with social media websites such as Facebook, LinkedIn, Netsuite and Workday are also anticipated to contribute to the development of the HR software industry.
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North America is anticipated to have the largest market for the HR software market and overall growth in the service sector. The development of HR software is also attributed to the increasing use of these solutions in Silicon Valley and other technical related organizations to check the mental ability and reasoning of the candidates. The Asia-Pacific region is estimated to show high-growth over the foreseeable future owing to large industrialization and a lot of startups concentrated on the mobile application-based management. India and China are the economies to catalyze the industrial growth in the HR software market. Europe is also expected to have extensive growth owing to a large number of corporate offices of several industrial verticals.
Current Market Trends covered in the Market Report:
• Demand for cloud-based technology for the development of the SaaS.
• Introduction of various innovative applications and software.
• Availability of customized HR software
• North America leads the market size
• Asia-Pacific shows potential growth
Global HR Software Market: – Segmentation
• Learning Management
• Benefits and Claim Management
• Payroll and Compensation Management
• Personnel Management
• Others (Compliance Management, Succession Management, and Pension Management)
By Deployment Model
• IT Industry
• Transport and Logistics
• Other (Consumer Goods and Retail)
Global HR Software Market: – Region
• Rest of Europe
• Rest of Asia-Pacific
Rest of the World
• Middle East & Africa
• Latin America
• Accenture PLC
• Applied Training Systems, Inc.
• Ascentis Corp.
• Automatic Data Processing, Inc.
• Automatic Payroll Systems, Inc.
• BambooHR LLC
• CEIPAL Corp.
• ClearCompany, Inc.
• Conrep, Inc.
• Cornerstone OnDemand, Inc.
• Hireku, Inc.
• HR Performance Solutions
• IBM Corp.
• iCIMS, Inc.
• Eaton Corp.
• Jibble Tech Sdn Bhd
• Jobvite, Inc.
• Kronos Inc.
• MHR international Ltd.
• 7.20. Namely, Inc.
• Oracle Corp.
• Patriot Software Co.
• Paychex Inc.
• SAP SE
• The Ultimate Software Group, Inc.
• Workday, Inc.
• Zoho Corp. Pvt. Ltd.
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