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Core HR Software Market Segmented By deployment type such as On-Premise, Software as a Service (SaaS) also by service that is Integration, Consulting used in Small Enterprise, Medium Enterprise, Large Enterprise.
Growing preference for maintaining centralized database to enhance HR operations is the key factor contributing to the growth of global Core HR Software market. Core HR Software is a software solution used for managing the back-end administrative HR tasks.
Primary function of Core HR Software is to maintain a central database containing records of past and present employees and contractors, the database contains data of employee’s personal information, job profiles, employment history, promotions, workflow for transfers, pay raises, and other employee related information.
Typically, Core HR Software system integrate various components of human resource management such as workforce management, payroll management, leave & attendance management, employee records, jobs & positions, and employee self-service. Also, these offers real-time core HR analytics and various types of reporting structure based on specific needs.
Increasing interest to automate manual HR processes coupled with rising preference on utilizing human resource data for effective decision making is the prominent factor driving the growth of global Core HR Software market.
Traditionally, on-premise licensed HR software was the most common deployment model for this category products, but due to advancement in cloud technology and continuous adoption to cloud based business models is expected to increase the demand for cloud based Core HR Software solutions.
Additionally increasing interest, on tracking workforce performance, rising focus on integrating data analysis capabilities, and growing preference for interactive reports with easy-to-read dashboards fuels the growth of global Core HR Software market. However, lack of understanding about the potential benefits of the Core HR Software solutions is identified as restraints which are likely to deter the progression of global Core HR Software market.
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Regionally, the global Core HR Software market is segmented across North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific Excluding Japan, Japan, and Middle East & Africa.
Among all regions, Core HR Software market in North America is expected to dominate the market due to continuous focus on optimizing human resource operations. Asia Pacific is anticipated to witness significant growth rate, due to expanding small and medium enterprise and rising interest on cloud based business solutions.
Some of the prominent players in the global Core HR Software market includes Oracle, Ceridian HCM, Inc., CoreHR, SAP, Ascentis , Kronos Incorporated, Automatic Payroll Systems, Inc., Vibe HCM, Inc., Workday, Inc, TriNet Group, Inc, and Ultimate Software.
The report is a compilation of first-hand information, qualitative, and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.