This report studies the SaaS Based HRM market status and outlook of global and major regions, from angles of players, regions, product and end Application/industries; this report analyzes the top players in global and major regions, and splits the SaaS Based HRM market by product and Application/end industries.
The global SaaS Based HRM market is valued at XX billion USD in 2016 and is expected to reach XX billion USD by the end of 2022, growing at a CAGR of XX% between 2016 and 2022.
North America accounted for the largest market share in 2016 in SaaS Based HRM market globally. The market of North America region is expected to continue its dominance by witnessing the highest growth over the forecast period due to rising implementation on SaaS Based HRM systems by the enterprises in the region.
On the other hand, Europe is expected to be the second largest revenue contributor across the globe in the market of SaaS Based HRM. Rising awareness towards the benefits of web-based services among the organizations and positive GDP growth in emerging nations present in the regions are expected to spur the demand for SaaS Based HRM systems.
The major players in global market include
Ultimate Software Group
Automatic Data Processing
Infor (Lawson) Global Solutions
Geographically, this report split global into several key Regions, with, revenue (million USD), market share and growth rate of SaaS Based HRM for these regions, from 2012 to 2022 (forecast)
Growth Drivers and challenges
Rising complexities and addition of new business processes in big organizations across the globe are growing need for SaaS-based HRM. The business players are focusing on diversification of business, expansion of product portfolio and workforce in the organization in order to participate in a long run of competition. These enterprises will further swell the demand for SaaS-based HRM in near future. The enterprises which have limited budgets for infrastructure and staff are shifting towards SaaS-based HRM systems with the aim to optimize the use of resources and management of various function of business. The market of SaaS-based HRM is majorly driven by the rising number of enterprises across the globe and adoption of advanced web services in these enterprises to reduce the lags of business.
Apart from this, presence of advanced management software and tools for human resource management and shifting of traditional production systems to mass customization are some of the key factors for the growth of SaaS-based HRM in near future. Rising penetration of business and increasing complexities related to various business functions and systems are growing importance of SaaS-based HRM systems in organizations across the globe. Besides this, growing trend for e-recruiting and learning management of workforce through web-based services are swelling the demand for SaaS-based HRM.
Although, high cost of SaaS-based HRM services, presence of international key players with expensive services and slow adoption of SaaS-based HRM in medium and small enterprises are expected to hinder the growth of SaaS-based HRM market across the globe over the forecast period. Moreover, lack of awareness towards the benefits of SaaS-based HRM and web-based services in undeveloped nations is likely to hamper the market growth for SaaS-based HRM in near future.