What is HR Technology Market?
The global HR Technology market is expected to grow at a slow pace during the forecast period, according to the AMA study. The rising automation in HR process owing to growing adoption of automation technologies by organisations, growing demand for efficient management of the operations such as talent acquisition & performance management, and rising awareness for better payroll management of employees are expected to be some of the major factors aiding into the growth for the market. However, the market is expected to witness decline in the growth during the next few year but it is again expected to rise with a healthy pace after the COVID-19 pandemic is over.
The market study is being classified by Type (Pre-Employment Solutions, During Employment Solution and After Employment Software), by Application (Workforce Management, Integrated Talent Management, Talent Acquisition, Performance Management, Corporate Learning, Analytics & Planning, Workplace Productivity, Core HR & Payroll and Others) and major geographies with country level break-up.
AuthBridge (India), Beeline (United States), BI Worldwide (United States), Excelity Global Solutions Pte. Ltd. (Singapore), Feets Sdn Bhd (Malaysia), Microimage (United States), Qjumpers (New Zealand), TalentView (Philippines), Thomsons Online Benefits (United Kingdom), ConnX (Australia), Deskera Holdings Ltd. (United States), HR Assured (Australia), JPayroll (Indonesia), Kronos Incorporated (United States), NVM Group (Vietnam), PeopleScout (United States), Replicon (Canada), Swingvy (Singapore), Talent Plus, Inc (United States), World Manager (Australia), Oracle (United States), IBM (United States), SAP (Germany) and Ultimate Software (United States) are some of the key players profiled in the study.
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global HR Technology market throughout the predicted period.
Analyst at AMA have segmented the market study of Global HR Technology market by Type, Application and Region.
On the basis of geography, the market of HR Technology has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Automation in HR Process Owing to Growing Adoption of Automation Technologies
- Growing Demand for Efficient Management of the Operations Such as Talent Acquisition & Performance Management
- Rising Adoption of Wellbeing Management and Enghanced Engagement & Culture in Organisations
- Implementation of Artificial Intelligence in HR Technology Solutions
- Rise in Demand for Cloud-based HR Technologies & Mobile Solutions
- Lack of Awareness to Adopt Core HR Software
- Short Term Restraint for the Market Due to Shutting Down of Operations & Process of Different Companies Across Different Parts of the World Due to COVID-19 Pandemic
- Growing Adoption of SMEs Propelled by Rising Number of SMEs Globally
- Regional Difference in HR Laws Across Different Countries
In May 2020, the Ultimate Software company announced that it has released a new UltiPro Giving platform, which is a convenient, easy-to-use solution that empowers organizations and their employees to make a philanthropic difference at the local, national, and international levels
Stringent Worldwide Government Regulations Regarding Lockdown of Cities' & States' Industry Operations Reducing the Demand for HR Solutions
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