According to the latest report by IMARC Group, titled “India Human Resource (HR) Technology Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The India human resource (HR) technology market is expected to reach US$ 1,510 Million by 2027, exhibiting a CAGR of 9.9% during 2022-2027.
Human resource (HR) represents the set of individuals who make up the workforce of an organization, industry, business sector, or economy. HR technology is divided into inhouse and outsourced. Human resource is utilized to automate routine processes, store data, provide analytical management reports and insights for better decision-making, etc. HR technology reduces the manual efforts needed to perform various time-saving tasks.
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India Human Resource (HR) Technology Market Trends and Drivers:
The inflating industrialization and urbanization levels have resulted in the growing number of corporate organizations, which is among the key factors stimulating the India human resource (HR) technology market. Moreover, the escalating demand for advanced tools that assist in improving the learning, productivity, and engagement of employees is acting as another significant growth-inducing factor. Besides this, the launch of several favorable initiatives by government bodies in India is propelling the market growth. Furthermore, the rising integration of HR technology with cloud computing, software-as-a-service (SaaS), artificial intelligence (AI), business intelligence (BI), dashboards, etc., to provide added flexibility and competitive edge over other solutions is also bolstering the market growth across the country. Apart from this, on account of the sudden outbreak of the COVID-19 pandemic, there is an increasing utilization of human resource software by HR teams to facilitate smooth remote working solutions, which is further catalyzing the market growth. Additionally, the expanding working population and complex management methods adopted by businesses are also augmenting the market growth. In line with this, the growing business competition and extensive R&D activities conducted by key market players are anticipated to fuel the India human resource (HR) technology market over the forecasted period.
- The competitive landscape of the industry has also been examined along with the profiles of the key players.
India Human Resource (HR) Technology Market 2022-2027 Analysis and Segmentation:
The report has segmented the market on the based on region, application, type, end use industry, company size.
Breakup by Application:
- Talent Management
- Payroll Management
- Performance Management
- Workforce Management
Breakup by Type:
Breakup by End User Industry:
- TTH (Travel, Transportation, Hospitality)
- Public Sector
- Health Care
- Information Technology
- BFSI (Banking, Financial services, and Insurance)
Breakup by Company Size:
- Less than 1k Employees
- 1k -5k Employees
- Greater than 5k Employees
Breakup by Region:
- North India
- West and Central India
- South India
- East India
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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