What is SaaS-Based Human Resource Market?
SaaS (Software-as-a-Service)-Based Human Resource is a software used to manage human resource functions. These software help to reduce infrastructure cost and enables to manage and control every aspects of human resource activities. These SaaS-based HR can be easily deployed in organizations on-premises or on cloud. SaaS-based HR is rapidly becoming more employee-centric and implementing new requirements in performance, learning, talent acquisition, and employee engagement. The increasing demand for enhancing the productivity of human resources has driven market growth.
Highlights from SaaS-Based Human Resource Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Talentsoft SA (France), Cezanne HR Ltd. (United Kingdom), Oracle Corporation (United States), IBM Corporation (United States), SAP SE (Germany), Kronos, Inc. (United States), Ceridian HCM, Inc. (United States), Automatic Data Processing (United States), Ascentis Corporation (United States), Ultimate Software Group, Inc. (United States), Halogen Software Inc. (United States), Workday Inc. (United States) and EmployWise (India) |
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
Talentsoft SA (France), Cezanne HR Ltd. (United Kingdom), Oracle Corporation (United States), IBM Corporation (United States), SAP SE (Germany), Kronos, Inc. (United States), Ceridian HCM, Inc. (United States), Automatic Data Processing (United States), Ascentis Corporation (United States), Ultimate Software Group, Inc. (United States), Halogen Software Inc. (United States), Workday Inc. (United States) and EmployWise (India) are some of the key players profiled in the study. SaaS-Based Human Resource Market Segmentation:
Scope | Sub-Segments |
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Application / End User | IT and Telecom, Manufacturing, Healthcare, BFSI, Educational Institutes, Government Sector and Others |
Organization Size | SMEs,Large Enterprises |
Deployment | On-Premises,Cloud |
Solution | Time & Attendance Management,Absence Management,HR & Payroll,Integrated Solutions,Other |
On the basis of geography, the market of SaaS-Based Human Resource 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
MarketTrend Demand for HR Analytics
Market Growth Drivers:
Preference for Automation and Cost Reduction in Organizations and Increasing Cloud and Mobile Deployment
Challenges:
Data Privacy Concerns
Restraints:
Reluctance to the Adoption of SaaS-Based Human Resource
Opportunities:
Growing Acceptance from Small & Medium-size Enterprises
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, SaaS-Based Human Resource Manufacturer, Government Regulatory, Enterprise Users, Commercial Users and Industrial Users
Market Leaders & Development Strategies
In November 2019, Sage Group acquired CakeHR, London-based cloud HR solutions company to strengthen its SaaS offering. Terms were not disclosed.
IBM is in the process of recreating its business from manufacturing computer chips and selling low-end hardware to investing in cloud computing, technology services and cognitive solutions, and wants to boost its talent pool to support that shift.