Core HR Software Market: Introduction
Growing preference for maintaining centralized database to enhance HR operations is the key factor contributing to the growth of global Core HR Software market. Core HR Software is a software solution used for managing the back-end administrative HR tasks. Primary function of Core HR Software is to maintain a central database containing records of past and present employees and contractors, the database contains data of employee’s personal information, job profiles, employment history, promotions, workflow for transfers, pay raises, and other employee related information. Typically, Core HR Software system integrate various components of human resource management such as workforce management, payroll management, leave & attendance management, employee records, jobs & positions, and employee self-service. Also, these offers real-time core HR analytics and various types of reporting structure based on specific needs.
Core HR Software Market: Market Dynamics
Increasing interest to automate manual HR processes coupled with rising preference on utilizing human resource data for effective decision making is the prominent factor driving the growth of global Core HR Software market. Traditionally, on-premise licensed HR software was the most common deployment model for this category products, but due to advancement in cloud technology and continuous adoption to cloud based business models is expected to increase the demand for cloud based Core HR Software solutions. Additionally increasing interest, on tracking workforce performance, rising focus on integrating data analysis capabilities, and growing preference for interactive reports_bk_01_01_2020 with easy-to-read dashboards fuels the growth of global Core HR Software market. However, lack of understanding about the potential benefits of the Core HR Software solutions is identified as restraints which are likely to deter the progression of global Core HR Software market.
Core HR Software Market: Market Segmentation
The global Core HR Software market is segmented on the basis of deployment type, service, end-user type, and by region.
On the basis of deployment type, the global Core HR Software market can be segmented into following types;
- On-Premise
- Software as a Service (SaaS)
On the basis of service, the global Core HR Software market can be segmented into following types;
- Integration
- Consulting
- Others
On the base of end-user type, the global Core HR Software market can be segmented into following types;
- Small Enterprise
- Medium Enterprise
- Large Enterprise
Core HR Software Market: Regional Outlook
Regionally, the global Core HR Software market is segmented across North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific Excluding Japan, Japan, and Middle East & Africa. Among all regions, Core HR Software market in North America is expected to dominate the market due to continuous focus on optimizing human resource operations. Asia Pacific is anticipated to witness significant growth rate, due to expanding small and medium enterprise and rising interest on cloud based business solutions.
Core HR Software Market: Competition Landscape
Some of the prominent players in the global Core HR Software market includes
- Oracle
- Ceridian HCM Inc.
- CoreHR
- SAP
- Ascentis
- Kronos Incorporated
- Automatic Payroll Systems Inc.
- Vibe HCM Inc.
- Workday Inc
- TriNet Group Inc and Ultimate Software.
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Regional analysis for Core HR Software Market includes
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Western Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Nordics
- Benelux
- Rest of the Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of the Eastern Europe
- Western Europe
- Asia Pacific Excluding Japan (APEJ)
- China
- India
- ASEAN
- Australia and New Zealand (ANZ)
- Rest of APEJ
- Japan
- The Middle East & Africa
- GCC Countries
- North Africa
- South Africa
- Rest of MEA
The report is a compilation of first-hand information, qualitative, and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.