The global human resource (HR) technology market reached a value of US$ 25.76 Billion in 2020. Looking forward, the analyst expects the market to grow at a CAGR of 9.2% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Human resource technology is a significant part of the human resource industry. It enhances all the aspects of employment with the organization, starting from the first day of recruitment until the retirement of the employees. The human resources technologies help the employer to manage payrolls, onboarding, talent sourcing, performance and workforce management, talent management, etc.
The global human resource technology market is primarily driven by the aging of conventional human resource tools as enterprises are now gradually adopting the human resource software ecosystem. The human resource software solutions provide a time and cost-effective way for managing numerous human resources. Moreover, rapid technological innovations have augmented the demand for such solutions for diverse applications, such as workforce management, and talent management. Furthermore, rising working population and complex management methods are also creating a positive impact on this market. Owing to this, there has been an escalating development in the marketplace for recruitment, advertisement, assessment, and interviewing. Moreover, human resource technology lowers the risks of systemic errors in comparison to the conventional methods of human resourcing. This helps in time management, along with increasing productivity and reducing employment costs.
TTH (Travel, Transportation, Hospitality) Public Sector Health Care Information Technology BFSI (Banking, Financial services, and Insurance) Others
Market Breakup by Company Size
Less than 1k Employees 1k -5k Employees Greater than 5k Employees
Market Breakup by Region
North America Europe Asia Pacific Middle East and Africa Latin America
Key Questions Answered in This Report: How has the global human resource technology market performed so far and how will it perform in the coming years? What has been the impact of COVID-19 on the global human resource technology market? What is the breakup of the global human resource technology market based on the application? What is the breakup of the global human resource technology market based on the type? What is the breakup of the global human resource technology market based on the end use industry? What is the breakup of the global human resource technology market based on the company size? What is the breakup of the global human resource technology market based on the region? What are the key driving factors and challenges in the global human resource technology market? What is the structure of the global human resource technology market and who are the key players? What is the degree of competition in the global human resource technology market?
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