What is Core HR Software?
Core HR Software consists of comprehensive HR automation tools aiding all basic, back office as well as front office HR tasks. This core hr tasks include recruitment, payroll, employee training, internal relations, rules and regulations compliance, etc. The growing adoption of the digital solutions by the businesses as well as increasing trend of automation of back door office tasks has led to the growth of the Core HR software market. Rising popularity of the cloud computing solutions has also positively affected core hr software market. SMEs can be major opportunity to capitalise on for the Core HR software developers in the coming years. Currently, North America and Europe are the two prominent markets of the Core HR software market.
The market study is broken down by Type (Benefits and Claims Management, Payroll and Compensation Management, Personnel Management, Learning Management, Pension Management, Compliance Management and Succession Planning), by Application (BFSI, Government, IT and Telecom, Energy and Utilities, Healthcare, Retail and Others) and major geographies with country level break-up.
Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
SAP SE (Germany), Oracle Corporation (United States), IBM Corporation (United States), Ceridian HCM, Inc. (United States), EmployWise (India), The Access Group (United Kingdom), SumTotal Systems, LLC (United States), Paycom Software, Inc. (United States), Paychex, Inc. (United States) and Workday, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Ultimate Software (United States), Automatic Data Processing (United States) and BambooHR (United States).
AdvanceMarketAnalytics has segmented the market of Global Core HR Software market by Type, Application and Region.
On the basis of geography, the market of Core HR Software 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). If we see Market by Deployment Type, the sub-segment i.e. On Cloud will boost the Core HR Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organisation Size , the sub-segment i.e. SMEs will boost the Core HR Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In 2020, The Access Group, a United Kingdom based business software solutions provider specifically designed for mid-sized firms has announced acquisition of CoreHR, which is one of the leading HR and Payroll software provider in UK and Ireland. The acquisition of CoreHR combined with People HR which was Access Groupís earlier acquisition as well as Access Groupís own expertise in HR and Payroll market will accelerate its growth in the field of the digital HR solutions market.
In 2021, Ceridian, a United States based cloud HCM software and services provider has announced signing of a definitive agreement to acquire Ideal, which is leading innovator in the field of talent intelligence. Ideal which is based out of Toronto, Canada has earned its name in the market because of its accurate recruitment automation solutions. The acquisition will expand the product portfolio of Ceridian along with strengthening its market standings.
- Rising Popularity of the Cloud related Platforms
- Growing Adoption of Digital Solutions by the Businesses
- Increasing Automation of Backdoor Office Tasks
- SMEs Present Huge Opportunity for the Expansion of the User Base in the Market of the Core HR Software
- Training of Workers Required
- Less Awareness about the Presence of such Solutions and its Potential Benefits
Key Target AudienceCore HR Software Developers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Analysts and Strategic Business Planners and End-Use Industries
About ApproachTo evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.
Frequently Asked Questions (FAQ):
1. What all players are profiled in the study?
The standard version of the report profiles players such as SAP SE (Germany), Oracle Corporation (United States), IBM Corporation (United States), Ceridian HCM, Inc. (United States), EmployWise (India), The Access Group (United Kingdom), SumTotal Systems, LLC (United States), Paycom Software, Inc. (United States), Paychex, Inc. (United States) and Workday, Inc. (United States) etc.
2. Can we have customized study for Core HR Software Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. What would be the Market Size of Core HR Software Market by 2026?
Analysts at AMA estimates Core HR Software Market to reach USD Million by 2026.