Fast Market Research announces the availability of the new Markets and Markets report, "Core HR Software Market - Global forecast to 2022", on their comprehensive research portal

Boston, MA -- (SBWire) -- 06/14/2017 --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

Increasing in adoption of automation and focus on employee engagement and retention is driving the core Human Resource (HR) software market

The core HR software 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%. Rise of the cloud and mobile deployment, and increase in automation in HR processes have led to the adoption of core HR software. Less understanding of technical integration of the software is one of the restraints for the core HR software market.

The service component is expected to grow at the highest CAGR during the forecast period

Get More Details on this Report and a Full Table of Contents at Core HR Software Market - Global forecast to 2022

The service component is expected to grow at the highest CAGR during the forecast period, as services help organizations to easily deploy the software on their premises or on cloud. Vendors provide a complete range of services, such as integration services, support and maintenance, and consulting, and provide a single point of contact for all the help and assistance required.

The large enterprises segment of the core HR software is expected to hold largest market size during the forecast period

The market size of the core HR software is relatively high in case of the large enterprises, compared with Small and Medium-Sized Enterprises (SMEs). This is due to the affordability and high economies of scale that allow organizations to leverage the benefits of this software. The market is undergoing significant technological transitions, such as collaboration with social media, real-time solutions, and the usage of mobile devices. All these advancements are favorably welcomed and highly adopted by large organizations. Core HR software vendors help big enterprises by providing tools specially catered to them, such as the Unified Desktop, CRM Integration, and interaction analytics, to maintain a healthy communication between a large set of employees. Other than the HR functionality modules, such as recruitment and learning management, the software vendors offer custom-made HR suite in order to meet the needs of customers.

Asia Pacific (APAC) is expected to have the highest growth rate during the forecast period

The APAC region is an emerging economy, as it is witnessing dynamic changes in the adoption of new technologies. The APAC region comprises emerging economies, such as China, India, Japan, Singapore, Malaysia, and Australia. It is expected to have a major traction toward core HR software modules due to the rise in demand for organizing its huge workforce. This region is also facing issues, such as aging population and increasing number of multigenerational workforce, which are required to be managed. Therefore, core HR is becoming the hot topic as employee satisfaction and skill upgradation are important for an organization in the long run.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break profile of primary participants is as follows:

-By Company: Tier 1 - 17%, Tier 2 - 47%, and Tier 3 - 36%
-By Designation: C-level - 64%, Manager level - 30%, and Others - 6%
-By Region: North America - 68%, Europe - 12%, APAC - 9%, MEA - 7%, and Latin America - 4%

The core HR software ecosystem comprises major vendors, such as 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).

Research Coverage

The report includes in-depth competitive analysis of these key players in the core HR software market, with their company profiles, recent developments, and key market strategies. The research report segments the core HR software market by component, software, service, deployment type, organization size, industry vertical, and region.

Reasons to Buy the Report

The core HR software market has been segmented on the basis of components, software, services, deployment types, organization sizes, industry verticals, and regions. The report will help the market leaders/new entrants in this market in the following ways:

1. The report segments the core HR software market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments. The market numbers are further split across different verticals and regions.

About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Computers and Semiconductors research reports at Fast Market Research

You may also be interested in these related reports:

-Farm Management Software Market - Global Forecast to 2022
-Fusion Splicer Market - Global Forecast to 2022
-Augmented Reality Software Market - Global Forecast to 2022
-Digital Signage Market - Global Forecast to 2022
-Livestock Monitoring Market - Global Forecast to 2022