Global Human Resource Management (HRM) Industry

October 2022
83 pages
ID: 6031834
Format: PDF
Global Industry Analysts

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Global Human Resource Management (HRM) Market to Reach $44.5 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Human Resource Management (HRM) estimated at US$21.9 Billion in the year 2020, is projected to reach a revised size of US$44.5 Billion by 2027, growing at a CAGR of 10.7% over the analysis period 2020-2027. Core HR, one of the segments analyzed in the report, is projected to record a 9.2% CAGR and reach US$13.5 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Workforce Planning & Analytics segment is readjusted to a revised 11.2% CAGR for the next 7-year period.

The U.S. Market is Estimated at $6 Billion, While China is Forecast to Grow at 15% CAGR

The Human Resource Management (HRM) market in the U.S. is estimated at US$6 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$9.4 Billion by the year 2027 trailing a CAGR of 14.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.8% and 9.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.1% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$6.5 Billion by the year 2027.

Recruiting Segment to Record 12.8% CAGR

In the global Recruiting segment, USA, Canada, Japan, China and Europe will drive the 12.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.5 Billion in the year 2020 will reach a projected size of US$5.4 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 14.5% CAGR through the analysis period.

Select Competitors (Total 21 Featured) -
Accenture PLC
Automatic Data Processing (ADP), Inc.
Ceridian HCM, Inc.
Cezanne HR Ltd.
IBM Corporation
Kronos, Incorporated
Mercer LLC
NetSuite, Inc.
Oracle Corporation
PricewaterhouseCoopers (PwC)
Sap SE
Talentsoft
Ultimate Software
Workday, Inc.

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