Human Resource Professional Services Market Growth, Size, Share, Demand, Trends, and Forecast 2032

Human Resource Professional Services Market Industry Prospective

The global Human Resource Professional Services Market size was valued at USD 5.99 Billion in 2023 and is predicted to reach USD 16.99 Billion by the end of 2032. The market is expected to grow with a CAGR of 12.28% during the forecast period. The report analyzes the global Human Resource Professional Services Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Human Resource Professional Services industry.

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Global Human Resource Professional Services Market: Overview

Human resource plays a crucial role in the managing and working of the organization operations and workflow. It helps in the proper alignment of the organization’s mission, strategic decisions, and goals. Organizations prefer to have HR professional services in order to have a good administrative hold.

Global Human Resource Professional Services Market: Growth Factors

Increasing preferences for automating HR processes along with the integration of mobile technology and big data analytics into professional services are propelling the growth of the global human resource professional services market significantly. There is a significant growth in the requirement for the management of additional human resource activities like aligning the organization goals along with its vision and mission in line with HR functions further propels the growth of the market globally. Moreover, the ongoing advancements in big data and artificial intelligence help organizations in managing the large volumes of human resource data and extract useful insights to boost the performance of the organization have significantly propelled the growth of the global human resource professional services market.

However, predictive analytics also help organizations in maximizing their capital by retaining captive human resources along with better decision-making practices. The growing demand for flexibility in accessing data regarding training modules, work schedules, attendance, and leaves is likely to bolster the growth of the global human resource professional services market during the forecast period. Such services facilitate online access to personal data, personal assistance, better communication, and evaluation of employee performance effectively. Prominent market players are boosting funding to innovate products to maintain competitiveness in the global human resource professional services market and create new growth opportunities for expanding their market share globally.

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Global Human Resource Professional Services Market: Segmentation Analysis

The global human resource professional services market can be segmented into end-users, enterprise, deployment, type, and region.

By end-users, the market can be segmented into retail, manufacturing, telecom & IT, healthcare, government, BFSI, and others. The telecom & IT segment accounts for the largest share in the global human resource professional services market due to the significant growth in the efficiency of HRM capabilities of the organization. Moreover, the integration of machine learning and big data into HR professional services has significantly propelled the growth of the segment.

By enterprise, the market can be segmented into large enterprises and small & medium enterprises. The small & medium enterprises segment holds hegemony over others due to the growing number of small-medium enterprises in developing economies all across the globe. However, the growing government support to boost the growth of small-medium enterprises along with digitalization all across the globe is further likely to boost the growth of the segment.

By deployment, the market can be segmented into on-premise and hosted. The on-premise deployment segment accounts for the largest share in the global human resource professional services market due to the high adoption rate of this method. However, it also permits the customization of the products and services. Moreover, it is a cost-efficient method in terms of the total cost of ownership and control center set up in an organization and hence is likely to grow significantly during the forecast period.

By type, the market can be segmented into workforce planning & analytics, talent management, recruiting, employee collaboration & engagement, and core HR.

Human Resource Professional Services Market: Report Scope

Global Human Resource Professional Services Market: Regional analysis

North America accounts for the largest share in the global human resource professional services market due to the growing demand for HR professional services and solutions in the region. The growth in demand can be attributed to the growing complexities in organizations due to the surging workforce.

Asia Pacific is anticipated to witness huge growth during the forecast period due to the growing support from the government to manage the workforce efficiently.

Global Human Resource Professional Services Market: Competitive Players and Segments

Some of the significant players in the global human resource professional services market are

• Workday, Inc.
• Ultimate Software
• Skillsoft
• SAP SE
• Oracle Corporation
• ManpowerGroup
• Kronos, Inc.
• IBM Corporation
• Cornerstone On Demand, Inc.
• and ADP, Inc.

By Deployment

• Hosted
• On-premise

By Type

• Core HR
• Employee Collaboration & Engagement
• Recruiting
• Talent Management
• Workforce Planning & Analytics
• Others

By Enterprise Size

• Large Enterprises
• Small & Medium Enterprises

By End-User

• Academia
• BFSI
• Government
• Healthcare
• IT & Telecom
• Manufacturing
• Retail
• Others

Global Human Resource Professional Services Market: Regional Segments

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.