Healthcare human resources (HR) software comprises all tools for optimizing recruitment, human capital management, and development as well as optimization of human resources of an organization. The global healthcare human resources (HR) software market is anticipated to generate 1.4 billion between the forecast periods of 2016 to 2023.
Human Resource Software Market In Healthcare Is Around 1 Billion And It Is Expected To Grow Up To 1.4 Billion Till 2023 At Very Low CAGR Of 2.3% Annually.
May 2017 – Saba’s acquired Halogen Software to benefit from complementary expertise of both players, and market development of markets other than North American.
September 2016 – Cornerstone on Demand, launched analytics suite so as to leverage the real-time data of people generated by its cloud platform to further research and development.
Some of the dominant players in the global human capital management software market are Oracle Corporation, International Business Machines Corporation, Cornerstone OnDemand, Epicor Software Corporation, SAP SE, NetSuite Inc., Ultimate Software Group, Inc., Workday, Inc., Kronos Incorporated, People Fluent, The Sage Group plc., CakeHR, Infor, Ultimate Software Group, Inc., ADP, LLC, WebHR, BambooHR, Benefit focus Inc., Zoho Corporation, and others.
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The philosophical shift from considering human capital as stagnant and secondary to being dynamic and at the core of any organization is the prime driver of the market. Human capital management, believes that human capital’s value can be measured and enhanced through investments in training. Human capital management is an approach that considers people as capital assets of any process and organization.
Increasing number and size of organizations and the concurrent increase in the complexity of human resource management, demand for greater efficiency in human resource management operations, growing adoption of information technology, advancements in analytics, surveillance, and e-recruiting, are the prime drivers of the market. The higher efficiency and optimization of workforce results in greater returns on investments, and overall satisfaction.
The organizational drivers include demand for workforce optimization, and savings due to reduced documentation. The growing need for continuous performance management and performance based incentives is other driver of the market. Growing mergers and acquisitions provides another opportunity as it results in larger workforce, human resource management complexity and demand for transparent processes.
High cost of installation and maintenance, need for strong in-house I.T. skills, opposition from labor organizations, data security concerns and lack of trained manpower are constraints of the market.
Regional Analysis of Healthcare Human Resources Market:
North America led by the U.S. accounts for the largest share of the human capital management software market owing to large purchasing power, rapid adoption of new technology and scarcity of manpower and greatest opportunity cost of human resource management.
North America is followed by Europe which is led by Germany, France, and the U.K. However the North America and European markets are saturated and the market is expected to shift in favor of the Asia-Pacific countries. Asia Pacific region is expected to be led by China, Japan, and India owing to their huge unmet needs, developing economic and industrial base etc. the service sector led economic growth of China and India in recent years presents a large market opportunity.
The Middle East and Africa market is expected to generate moderate growth skewed in favor of Saudi Arabia, UAE, Qatar and others.
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Administration software – payroll, time and attendance, benefits management and others.
Type – recruiting, software-as-a-service (SaaS), core HR and others.
Deployments – on premise & on cloud
Organizations – medium businesses, large enterprises, small business.
End users – pharmaceuticals, hospital and laboratories and other
Region – North America, Europe, Asia-pacific and Middle East and Africa.
Some Points from TOC:
1.2 SCOPE OF STUDY
1.2.1 RESEARCH OBJECTIVE
1.2.2 ASSUMPTIONS & LIMITATIONS
1.3 MARKET STRUCTURE:
2 RESEARCH METHODOLOGY
2.1 RESEARCH PROCESS:
2.2 PRIMARY RESEARCH
2.3 SECONDARY RESEARCH:
3 MARKET DYNAMICS
3.4 MACROECONOMIC INDICATORS
4 MARKET FACTOR ANALYSIS
List of Tables:
TABLE 1 GLOBAL HEALTHCARE HUMAN RESOURCES SOFTWARE MARKET, BY APPLICATION, 2017-2023 (USD MILLION)
TABLE 2 GLOBAL HEALTHCARE HUMAN RESOURCES SOFTWARE MARKET, BY ADMINISTRATION SOFTWARE (USD MILLION)
TABLE 3 GLOBAL HEALTHCARE HUMAN RESOURCES SOFTWARE MARKET, BY ORGANIZATIONS TYPE (USD MILLION)
TABLE 4 GLOBAL HEALTHCARE HUMAN RESOURCES SOFTWARE MARKET, BY END USER (USD MILLION)
TABLE 5 GLOBAL HEALTHCARE HUMAN RESOURCES SOFTWARE MARKET BY REGION 2017-2023 (USD MILLION)
List of Figures:
FIGURE 1 RESEARCH PROCESS
FIGURE 2 PORTERS FIVE FORCES MODEL
FIGURE 3 GLOBAL HEALTHCARE HUMAN RESOURCES SOFTWARE MARKET, BY APPLICATION
FIGURE 4 GLOBAL HEALTHCARE HUMAN RESOURCES SOFTWARE MARKET, BY ADMINISTRATION SOFTWARE
FIGURE 5 GLOBAL HEALTHCARE HUMAN RESOURCES SOFTWARE MARKET, BY ORGANIZATIONS TYPE
FIGURE 6 GLOBAL HEALTHCARE HUMAN RESOURCES SOFTWARE MARKET, BY END USER
FIGURE 7 GLOBAL HEALTHCARE HUMAN RESOURCES SOFTWARE MARKET: COMPANY SHARE ANALYSIS, 2016 (%)
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