Core HR Software Market : Understanding of Competitive Landscape and Major Key Product Segments for 2025

Global Core HR Software Market: Overview

Also known as human resource (HR) information systems (HRIS), core HR software consist of a central record system that can store employee data such as benefits and payroll information. HR managers engage such software to report key trends of their organization and track employee records. Without interrupting the workflow of HR department, employees can update their corporate information with self-service options of core HR software. In order to improve their value across various HR functions, companies adopting the software could integrate them with third-party HR applications and incorporate them in integrated HR management suite.

Global Core HR Software Market: Key Trends

The world core HR software market is prognosticated to receive a strong impetus from numerous factors such as increasing adoption of automation for executing HR processes and furtherance in mobile and cloud deployment. Participants wanting to establish their position in the world core HR software market could find lucrative opportunities from several verticals boosting growth, such as healthcare, consumer goods and retail, energy and utilities, manufacturing, and government. Out of all these verticals and more, the government vertical is anticipated to secure a larger market size during the course of the forecast period.

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Vendors offering a single point of contact and range of services, including on-premise deployment or deployment on the cloud, for companies to perform different business activities are expected to operate on the greener pastures of the world core HR software market. Small and medium-sized enterprises (SMEs) could provide significant opportunities for growth in the world core HR software market on account of their augmenting investments in business software and need to adopt quick and efficient strategies for securing business growth. Vendors looking to increase demand in the world core HR software market are predicted to capitalize on the requirement of SMEs to ease resource crunch and improve cost optimization.

Global Core HR Software Market: Market Potential

Approximately 23,000 employees at Life Care Services will be using the Oracle HCM Cloud human resource management software in a couple of phases, i.e. November 2017 and January 2018. A highlight global feature of Oracle HCM Cloud assists HR departments to administer employee payroll in several countries. However, the software also includes other vital core HR functions. Life Care Services expects to enhance its data and scale integrity by integrating functions presently managed by a set of diverse HR products. The company thinks the move to replace its Oracle on-premises software and other bolt-on systems will prove to be a game changer for keeping ahead of competitors in the industry.

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Global Core HR Software Market: Regional Outlook

North America is prophesied to win the race of achieving a higher share in the international core HR software market during the forecast period. The dominance of the North America core HR software market could be attributed to a telling adoption of cloud platforms, smartphones, and newer technologies. Most emerging players making a mark in the core HR software market for North America are envisaged to achieve success by meeting the requirements of HR professionals by offering flexible, customized, and differentiated products. Other regions that could be important for the growth of the international core HR software market are Asia Pacific, Europe, Latin America, and the Middle East and Africa.

Global Core HR Software Market: Competitive Landscape

With a view to extend their offerings in the worldwide core HR software market, industry players are envisioned to take to inorganic and organic growth strategies that include acquisitions and mergers, collaborations and partnerships, and new product launches. Some of the major companies projected to impact the worldwide core HR software market could be IBM Corporation, EmployWise, CoreHR, Ceridian HCM, Inc., and ADP.

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The study presents reliable qualitative and quantitative insights into:

  • Market segments and sub-segments

  • Market trends and dynamics

  • Supply and demand chain of the market

  • Market valuation (revenue and/or volume)

  • Key trends/opportunities/challenges

  • Forces defining present and estimated future state of the competitive landscape

  • Technological developments

  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America

  • Latin America

  • Europe

  • Asia Pacific

  • Middle East and Africa

The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.

Highlights of the report:

  • A detailed analysis of key segments of the market

  • Recent developments in the market’s competitive landscape

  • Detailed analysis of market segments up to second or third level of segmentation

  • Historical, current, and projected future valuation of the market in terms of revenue and/or volume

Key business strategies adopted by influential market vendors

  • Outline of the regulatory framework surrounding and governing numerous aspects of the market

  • Growth opportunities in emerging and established markets

  • Recommendations to market players to stay ahead of the competition

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