The global HR technology market grew at a CAGR of 14% during 2014-2019. Looking forward, IMARC Group expects the global market has huge potential for growth during 2020-2025. Human resource technology has emerged as a time-effective solution in managing some of the most meticulous HR tasks related to payrolls, workforce performance, analyzing employee feedbacks, talent acquisition, etc. The technology helps in enhancing the productivity of the HR team, thus consequently benefiting the overall workflow of the organization. Furthermore, HR technology aids in providing transparency in terms of employee-based data that can be accessed, evaluated, and applied to better understand the sentiments of the workforce.

The global market for HR technology is primarily driven by the aging of conventional human resource tools as numerous enterprises are getting inclined towards the human resource software ecosystem. Additionally, the growing adoption of human resource software solutions based on their time- and cost-effectiveness is also propelling the global market. Besides this, the rising working population and complex management methods are further catalyzing the need for HR technology. Furthermore, human resource technology lowers the risks of systemic errors in comparison to the conventional methods of human resourcing, thereby experiencing a high demand on a global level.

Market Breakup by Application

  • Talent Management
  • Payroll Management
  • Performance Management
  • Workforce Management
  • Recruitment
  • Others

Market Breakup by Type

  • Inhouse
  • Outsourced

Market Breakup by End-Use Industry

  • 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

Explore full report with table of contents: https://www.imarcgroup.com/human-resource-technology-market

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