Pune, India, January 22, 2019 -- /360iResearch/ -- The report "Global Core HR Software Market - Premium Insight, Industry Trends, FPNV Positioning Matrix, Competitive News Feed Analysis, Company Usability Profiles, Market Sizing & Forecasts to 2024 (Q4 2018 Update)", published by 360iResearch, states that the global market was valued at USD 5.92 billion in 2017 and is projected to reach USD 9.73 billion by 2024, growing at a CAGR of 7.35% from 2017 to 2024.
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The major forces driving the growth of the core hr software market include the need to provide easy access and manage centralized hr database for employee information, payroll and benefits data and increase in the automation of hr processes. Moreover, simple import and export of employee data for reporting purposes is also one of the factors that is driving the market growth. However certain factors such as the data security and privacy issues may hinder the market growth. In the middle of difficulty lies opportunity such as the increase in the adoption by smes, organizations inclination toward hr analytics, and integrate with third-party hr applications. The possible challenges for the market growth is organizational reluctance. But key players in the market are overcoming the challenges with continual improvement and innovation.
Based on component, the global core hr software market is studied across Service, and Software. Based on industry, the global core hr software market is studied across Aerospace & Defense, Automotive & Transportation, Banking, Financial Services & Insurance, Building, Construction & Real Estate, Consumer Goods & Retail, Education, Energy & Utilities, Government & Public Sector, Healthcare & Life Sciences, Information Technology, Manufacturing, Media & Entertainment, Telecommunication, and Travel & Hospitality. Based on deployment, the global core hr software market is studied across On-Cloud, and On-Premises. Based on geography, the global core hr software market is studied across Americas, Europe, Middle East & Africa, and Asia-Pacific.
The report features a competitive scenario of the core hr software market and provides inclusive analysis of key growth strategies adopted by major players. Key company profiled in the study are Automatic Data Processing, LLC, Ceridian HCM Holding Inc., Corehr, Employwise, Inc., International Business Machines Corporation, Oracle Corporation, Paychex, Inc., Paycom Software, Inc., SAP SE, Sumtotal Systems, LLC., Ultimate Software Group, Inc., and Workday, Inc..
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