Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. We have a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. 

Global Human Resource (HR) Technology Market to reach USD 40.84 billion by the end of 2029

Global Human Resource (HR) Technology Market Size study & Forecast, by Type (Talent Management, Workforce Management, Recruitment, Payroll Management, Performance Management, Others) by Deployment (Cloud, On-premise), by Enterprise Size (SMEs, Large Enterprises), by End-User (BFSI, IT and Telecommunication, Government, Manufacturing, Retail, Healthcare, Others), and Regional Analysis, 2022-2029

Product Code: ICTICTS-50408790
Publish Date: 25-01-2023
Page: 200

Global Human Resource (HR) Technology Market is valued at approximately USD 22.90billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.5% over the forecast period 2022-2029. Human resource (HR) technology plays a very vital role in the human resource industry by improving almost every aspect of employment within the enterprise. Human resources technologies assist in talent sourcing, onboarding, talent management, payrolls, performance, and workforce management, and so on. The increasing integration of Robot Process Automation (RPA), the rising trend of digitalization, coupled with the growing working population and complicated data management methods are some key factors that are stipulating the market demand around the world.

The rising adoption of artificial intelligence and machine learning in human resource (HR) technology software facilitates organizations to optimize their recruitment process. For instance, in June 2021, Active Payroll announced that the company entered into a partnership agreement with Cornerstone OnDemand, Inc., which aims on incorporate Cornerstone’s comprehensive suite of these resource services. Likewise, in March 2022, HeyJobs declared that the company raised USD 47 million in funding with the objective of accelerating the integration of AI technology in talent acquisition solutions and strengthening its business across Germany. Thus, these factors are fueling the market demand in the anticipated years. Furthermore, rising technological advancements, as well as the increasing number of strategic initiatives by key market players are presenting various growth prospects to the market over the forecasting years. However, rising concern for threat to data privacy and some limitations are associated with data integration stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Human Resource (HR) Technology Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the rise in employment opportunities across the U.S. and Canada and the presence of leading market players. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as growing investment in technological developments, high employment in SMEs, as well as the increasing mobility of workforces in the regional market.

Major market players included in this report are:
Oracle Corporation
Automatic Data Processing (ADP), Inc.
Cornerstone OnDemand, Inc.
Ceridian HCM Holding Inc.
Workday, Inc.
Infor, Inc.
Cegid Group
Hi bob Inc.
The Access Group

Recent Developments in the Market:
 In March 2022, The Access Group announced the acquisition of FastTrack- a cloud-based recruitment platform, which helps in staffing enterprises to modernize and develop. This FastTrack’s integrated software helps in the management of billing, payroll, and maintenance of timesheets, which supports Access Recruitment’s suite of software.
 In November 2021, Oracle unveiled the introduction of its new platform for Oracle Fusion Cloud Human Capital Management (HCM) for presenting a better tailored, intuitive, and streamlined employee experience. This initiative helps the company to offer employees a one-stop-shop to navigate all areas of their jobs and complete challenging tasks.

Global Human Resource (HR) Technology Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Deployment, Enterprise Size, End-User, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Talent Management
Workforce Management
Payroll Management
Performance Management
By Deployment:
By Enterprise Size:
Large Enterprises
By End-User:
IT and Telecommunication
By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Human Resource (HR) Technology Market, by Region, 2019-2029 (USD Billion)
1.2.2. Human Resource (HR) Technology Market, by Type, 2019-2029 (USD Billion)
1.2.3. Human Resource (HR) Technology Market, by Deployment, 2019-2029 (USD Billion)
1.2.4. Human Resource (HR) Technology Market, by Enterprise Size, 2019-2029 (USD Billion)
1.2.5. Human Resource (HR) Technology Market, by End-User, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Human Resource (HR) Technology Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Human Resource (HR) Technology Market Dynamics
3.1. Human Resource (HR) Technology Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Increasing integration of Robot Process Automation (RPA) Rising adoption of artificial intelligence and machine learning
3.1.2. Market Challenges Rising concern for threat to data privacy Some limitations are associated with data integration
3.1.3. Market Opportunities Rising technological advancements Increasing number of strategic initiatives by key market players
Chapter 4. Global Human Resource (HR) Technology Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Human Resource (HR) Technology Market, by Type
6.1. Market Snapshot
6.2. Global Human Resource (HR) Technology Market by Type, Performance – Potential Analysis
6.3. Global Human Resource (HR) Technology Market Estimates & Forecasts by Type 2019-2029 (USD Billion)
6.4. Human Resource (HR) Technology Market, Sub Segment Analysis
6.4.1. Talent Management
6.4.2. Workforce Management
6.4.3. Recruitment
6.4.4. Payroll Management
6.4.5. Performance Management
6.4.6. Others
Chapter 7. Global Human Resource (HR) Technology Market, by Deployment
7.1. Market Snapshot
7.2. Global Human Resource (HR) Technology Market by Deployment, Performance – Potential Analysis
7.3. Global Human Resource (HR) Technology Market Estimates & Forecasts by Deployment 2019-2029 (USD Billion)
7.4. Human Resource (HR) Technology Market, Sub Segment Analysis
7.4.1. Cloud
7.4.2. On-premise
Chapter 8. Global Human Resource (HR) Technology Market, by Enterprise Size
8.1. Market Snapshot
8.2. Global Human Resource (HR) Technology Market by Enterprise Size, Performance – Potential Analysis
8.3. Global Human Resource (HR) Technology Market Estimates & Forecasts by Enterprise Size 2019-2029 (USD Billion)
8.4. Human Resource (HR) Technology Market, Sub Segment Analysis
8.4.1. SMEs
8.4.2. Large Enterprises
Chapter 9. Global Human Resource (HR) Technology Market, by End-User
9.1. Market Snapshot
9.2. Global Human Resource (HR) Technology Market by End-User, Performance – Potential Analysis
9.3. Global Human Resource (HR) Technology Market Estimates & Forecasts by End-User 2019-2029 (USD Billion)
9.4. Human Resource (HR) Technology Market, Sub Segment Analysis
9.4.1. BFSI
9.4.2. IT and Telecommunication
9.4.3. Government
9.4.4. Manufacturing
9.4.5. Retail
9.4.6. Healthcare
9.4.7. Others
Chapter 10. Global Human Resource (HR) Technology Market, Regional Analysis
10.1. Human Resource (HR) Technology Market, Regional Market Snapshot
10.2. North America Human Resource (HR) Technology Market
10.2.1. U.S. Human Resource (HR) Technology Market Type breakdown estimates & forecasts, 2019-2029 Deployment breakdown estimates & forecasts, 2019-2029 Enterprise Size breakdown estimates & forecasts, 2019-2029 End-User breakdown estimates & forecasts, 2019-2029
10.2.2. Canada Human Resource (HR) Technology Market
10.3. Europe Human Resource (HR) Technology Market Snapshot
10.3.1. U.K. Human Resource (HR) Technology Market
10.3.2. Germany Human Resource (HR) Technology Market
10.3.3. France Human Resource (HR) Technology Market
10.3.4. Spain Human Resource (HR) Technology Market
10.3.5. Italy Human Resource (HR) Technology Market
10.3.6. Rest of Europe Human Resource (HR) Technology Market
10.4. Asia-Pacific Human Resource (HR) Technology Market Snapshot
10.4.1. China Human Resource (HR) Technology Market
10.4.2. India Human Resource (HR) Technology Market
10.4.3. Japan Human Resource (HR) Technology Market
10.4.4. Australia Human Resource (HR) Technology Market
10.4.5. South Korea Human Resource (HR) Technology Market
10.4.6. Rest of Asia Pacific Human Resource (HR) Technology Market
10.5. Latin America Human Resource (HR) Technology Market Snapshot
10.5.1. Brazil Human Resource (HR) Technology Market
10.5.2. Mexico Human Resource (HR) Technology Market
10.5.3. Rest of Latin America Human Resource (HR) Technology Market
10.6. Rest of The World Human Resource (HR) Technology Market

Chapter 11. Competitive Intelligence
11.1. Top Market Strategies
11.2. Company Profiles
11.2.1. SAP SE Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
11.2.2. Oracle Corporation
11.2.3. Automatic Data Processing (ADP), Inc.
11.2.4. Cornerstone OnDemand, Inc.
11.2.5. Ceridian HCM Holding Inc.
11.2.6. Workday, Inc.
11.2.7. Infor, Inc.
11.2.8. Cegid Group
11.2.9. Hi bob Inc.
11.2.10. The Access Group
Chapter 12. Research Process
12.1. Research Process
12.1.1. Data Mining
12.1.2. Analysis
12.1.3. Market Estimation
12.1.4. Validation
12.1.5. Publishing
12.2. Research Attributes
12.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

Need Assistance

Contact Person -
Krishant Mennon
Call us @
+ 91 99931 15879
Email: sales@bizwitresearch.com


Why Choose Us?

Quality over Quantity

Backed by 60+ paid data sources our reports deliver crisp insights with no compromise quality.

Analyst Support

24x7 Chat Support plus
free analyst hours with every purchase

Flawless Methodology

Our 360-degree approach of market study, our research methods leave stones unturned.
Enquiry Now