The global HR professional services market is anticipated to value USD 7.47 billion until 2025. It is also expected to register a CAGR of 12.4% over the forecasted years, 2018 to 2025. The surging need to manage organizational workflow and team management is projected to trigger the demand for such services.
The on-premise deployment held the highest share across the global market in 2017 due to its enhanced flexibility and customization features. While the hosted deployment segment is projected to register the highest CAGR of 15.6% from 2018 to 2025 due to advanced features provided by the key players.
In 2017, the IT & Telecom end-use segment dominated the global market owing to the rapid growth of the information technology sector across the globe and the need for deployment of such services for the efficient workflow of organizations. On the other hand, the retail segment is expected to witness the fastest growth in the upcoming years on account of their feature to permit retailers to focus on their core tasks.
North America dominated the global market with revenue of USD 1.08 Billion due to a rising number of HR professional service providers across this region. While the Asia Pacific valued USD 558.7 Million in 2017 on account of initiatives undertaken by governing bodies for effective workflow management.
The human resource professional services market includes key players such as Workday, Inc.; Oracle Corporation; ADP, Inc.; IBM Corporation; Ultimate Software; and SAP SE. They are engaged in the development, innovation, and deploying updates associated with their solutions for gaining competitive advantage and widening their geographical reach.
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Further key findings from the report suggest:
• The segment of core HR generated highest share in terms of revenue across the global market in 2017.
• The hosted deploymentsegment accounted for fastest growth with 15.6% CAGR from 2018 to 2025.
• In 2017, North America accounted for highest share across the global market.
• The key players in this market are Workday, Inc.; Oracle Corporation; ADP, Inc.; IBM Corporation; Ultimate Software; and SAP SE.
Million Insights has segmented the global HR professional services market on the basis of type, deployment, enterprise size, end use, and region:
HR Professional Services Type Outlook (Revenue, USD Million, 2014 - 2025)
• Core HR
• Employee Collaboration & Engagement
• Talent Management
• Workforce Planning & Analytics
HR Professional Services Deployment Outlook (Revenue, USD Million, 2014 - 2025)
HR Professional Services Enterprise Size Outlook (Revenue, USD Million, 2014 - 2025)
• Large Enterprises
• Small & Medium Enterprises
HR Professional Services End-Use Outlook (Revenue, USD Million, 2014 - 2025)
• IT & Telecom
HR Professional Services Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• Hong Kong
• Latin America
• Middle East and Africa (MEA)