What are the essential HR statistics for 2019? As a way of our response, we have compiled a list of statistics relevant to the HR software market, HR management, applicant tracking, and employee monitoring tools.
If you’re running a business and your HR department appears to be struggling from lack of staff to process more applicants, you could pick up ideas here about what the latest HR solutions could offer your business in this regard.
If you’re a developer, you should get a good feel where the market is heading as reflected in the numbers. If you’re an HR manager, you should see what new features could help you deal with the demands of your position better.
Based on recent HR software market analysis, the global HR market is seen to become a $30 billion industry by 2030. This growth is expected to be fueled by analytics, mobile apps and vendors’ renewed interest in team-focused management. Originally developed as talent management tools, HR platforms have evolved into what they are today. However, the upgrade train insofar shows no signs of stopping so you can expect more powerful systems to enter the fray. As a result, the expanding HR market research size is likely to continue to balloon. Here are some more HR software statistics for you.
- 10.4% – projected compound annual growth rate of the HR market. (grandviewresearch.com)
- 9.4% – projected increase in the size of core HR software from 2017 to 2025. (grandviewresearch.com)
- 13% – the forecast growth rate of the market for talent management tools. (grandviewresearch.com)
- $13.8 billion – the projected total value of the market for hosted HR software. (grandviewresearch.com)