Employee Onboarding Software Market Size, Share, Growth, Forecast 2032

Employee Onboarding Software Market Insights

Zion Market Research has published a report on the global Employee Onboarding Software Market, estimating its value at USD 1223.32 Million in 2023, with projections indicating that it will reach USD 2218.94 Million by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 6.84% over the forecast period 2024-2032. The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Employee Onboarding Software industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

Request Free Sample

The report analyzes the global employee onboarding software market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the employee onboarding software industry.

Employee Onboarding Software Market: Overview

This professional and specialized report study examines the technical and business perspective of the employee onboarding software industry. The report provides a historical analysis of the industry as well as the projected trends expected to be witnessed in the employee onboarding software market. The report study analyzes the market statistics at the global as well as the regional levels to gain an in-depth perspective of the overall employee onboarding software market.

The historical insights are provided from 2016 to 2019 and projected trends are provided from 2020 to 2026. The quantitative data is provided in terms of both volume (Units) and value (USD Million) for 2016 – 2026. The qualitative data is reinforced by analyzing and providing numerous market dynamics (directly or indirectly affecting the industry) such as growth drivers, restraints, challenges, and opportunities.

Request Free Sample

Key Insights from Primary Research

• As per the interviews with the CXOs operating in the employee onboarding software market, our analysts intended that employee onboarding software market generated revenue more than USD 700 million in 2019, and they also predict that the market will show enormous growth of more than USD 2100 million till 2026.
• Employee onboarding software market is anticipated to expect a considerable growth of nearly 12% over the forecast period. Our primary connections anticipated that the employee onboarding software market is expected to perceive a significant boost over the forecast period
• Geographically, North America and Europe are dominating the employee onboarding software market. Due to the rising demand for employee onboarding software in the multinational companies of UK and U.S. to achieve efficient automation processes, this region observes the fastest growth.
• Cloud-based segment showed ample growth in employee onboarding software market by accounting a share of nearly 67% in 2019. However, our primary audience predicted that cloud-based segment is anticipated to observe a substantial growth over the foreseeable period.
• Large enterprise segment penetrated the market share by nearly 62% in 2019 and is projected to witness a significant growth in the next few years.
• Considering application, banking, financial services, and insurance (BFSI) segment is contributing a major share in employee onboarding software market which is nearly 25% in 2019 and is expected to grow due to rising industrialization and automation.

Key Recommendations from Analysts

• As per the analyst observations, the cloud-based category is expected to be the fastest-growing deployment mode in the market. By implementing cloud-based employee onboarding software, an organization can achieve efficient in-house IT hardware and support, which in turn, reduces the costs associated with IT support and service.
• Several countries in North-America and Europe dominated the employee onboarding software market. Due to rise in demand in multinational companies, increasing employment rates, and adoption of the automation process, these regions are expected to hold the largest market share.
• Our analysts predict the market to witness the fastest growth in large enterprises as it helps large enterprises to digitize the manual HR processes such as documents for verification, giving tool access to new hires, raising device requests for a large number of employees.
• Global employee onboarding software is expected to observe a significant CAGR of nearly 12% in the coming years and the market is projected to witness numerous opportunities for the new players planning to enter the market.
• As observed; that many companies are tending towards the adoption of the automation process to enhance productivity and improve the workforce process, it is expected to bring lucrative opportunity in the expansion of the employee onboarding software market.

We have included various industry analysis models in our report and extensively demonstrated the key business strategies and competitive landscape of the employee onboarding software market in our study.

Request Free Sample

Our study also includes an analysis of Porter’s Five Forces framework for understanding the competitive strategies adopted by various stakeholders involved in the entire value chain of the employee onboarding software market. It also encompasses PESTLE analysis and SWOT analysis.

The report also offers an in-depth analysis of the market shares of each industry player and gives an outline of the market position of key players in the employee onboarding software market. Moreover, the study offers wide coverage of key strategic advances witnessed in the market such as new product launches, acquisitions & mergers, collaborations & joint ventures, funding & VC activities, agreements, partnerships, R&D activities, and regional expansion of key players of the employee onboarding software market.

The research study provides a critical assessment of the employee onboarding software industry by logically segmenting the market on the basis of deployment mode, end-user, verticals and regions. Based on the past, present, and future trends, all the segments were analyzed from the bottom up, and the market sizes have been estimated from 2020 to 2026.

Employee Onboarding Software is a technology that enables a smooth transition for new hires. Employee Onboarding Software provides a dashboard that allows the team to communicate with one another and track the progress of hired employees. Employee onboarding software provides a connection between the organization applicant tracking system and performance management system for accessing the data about the new hire’s employment.

Employee Onboarding Software Market: Report Scope

It provides various tools and resources necessary to carry out the responsibilities of their role. The Employee Onboarding Software also offers HRs with details on accessing the workplace, including security procedures, entry timings, appointments for holidays, access to internal systems, etc. Employee onboarding software provides various features such as managing new hire paperwork, employment documentation compliance, background checks, automatic workflows, access to employee information, progress reporting.

Due to digitization, most business are converting into digital format. By collaborating with the IT department HR team is empowering employees with a digital mindset to improve workforce processes and enhance productivity. The need of minimizing the time required for repetitive tasks and maximizing the employee experience is driving the market for employee onboarding software market. HR can implement an automated performance management system to gather data and to decide salary appraisals. Additionally, employees should also access this software to view and update it.

This reduces the overall business expenditure is propelling the use of employee onboarding software in various organizations. Many organizations are struggling with digital transformation because of limited funding. Struggle with limited funding hampers digital project implementation of organizations. The lack of funds and the inability of organizations to define and implement a strategy of digital transformation are hampering the adoption of employee onboarding software by companies. Adoption of AI-powered tool can provide the opportunities in employee onboarding software market by decreasing the time spent on screening and sourcing for recruiters and increasing time for developing culture of business, and candidate relationship-building.

The Employee Onboarding Software market is segmented based on deployment mode, by end-user and by verticals. By deployment mode , the market is classified into On-premise, and Cloud-based. By end-user, the market is segmented into small and medium sized enterprises, large enterprises. By verticals, the market segment is sectored into Automotive, Banking, Financial Services and Insurance (BFSI), Energy and Utility, Government, Healthcare, IT and Telecom, Manufacturing, Media and entertainment, Retail and Consumer Goods, Transportation and Logistics, Others.

The regional segmentation of the employee onboarding software industry includes the holistic bifurcation of all the five major continents including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Request Free Sample

Some of the essential players operating in the employee onboarding software market, but not restricted to include

• Appical B.V.
• Automatic Payroll Systems Inc.
• BambooHR LLC
• Ceridian HCM Inc.
• ClearCompany LLC
• Enborad.Me Pty Ltd.
• IBM Corporation
• Jobvite Inc.
• Oracle Corporation
• Paychex Inc.
• Paycom Software Inc.
• Paycor Inc.
• Paylocity Holding Corporation
• Saba Software Inc.
• SAP SE
• SilkRoad Technology Inc.
• Ultimate Software Group Inc.
• Workday Inc.
• Talmundo
• Zoho Corporation Pvt. Ltd.

The taxonomy of the employee onboarding software industry by its scope and segmentation is as follows:

Global Employee Onboarding Software Market: By Deployment Mode Segment Analysis

• On-premise
• Cloud-based

Global Employee Onboarding Software Market: By End-User Segment Analysis

• Small and Medium Sized Enterprises
• Large Enterprises

Global Employee Onboarding Software Market: By Verticals Segment Analysis

• Automotive
• Banking, Financial Services and Insurance (BFSI)
• Energy and Utility
• Government
• Healthcare
• IT and Telecom
• Manufacturing
• Media and entertainment
• Retail and Consumer Goods
• Transportation and Logistics
• Others

Global Employee Onboarding Software Market: Regional Segment Analysis

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

KEY BUSINESS POINTERS ADDRESSED & FOREMOST REASONS TO PROCURE THE REPORT:

• Statistical Analysis of the Past, Current, and Future Trends of the Industry with Validated Market Sizes Data
• Direct and Indirect Rationales Impacting the Industry
• In-depth and Micro Analysis of Viable Segments and Sub-segments
• Companies and Vendors Market Share, Competitive Landscape, and Player Positioning Analysis
• Demand Side (Consumption) and Supply Side (Production) Perspective and Analysis wherever applicable
• Key Buyers and End-Users Analysis
• Value Chain and Manufacturing Cost Structure Analysis wherever relevant
• Key Marketing Strategies as well as Key Sales Channels adopted in the market
• Investment Opportunity Analysis & Patents Analysis wherever feasible
• Technological Road Map & Technical Analysis
• Robust Research Methodology comprising dynamic mix (65%~35%) of Extensive Primary Research (primary interviews, ad-hoc surveys, questionnaires) and Protracted Secondary Research (proprietary in-house database, paid external databases, publically available validated sources)