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 reached a value of US$ 850 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,510 Million by 2027, exhibiting a CAGR of 9.9% during 2022-2027.
Human resource (HR) technology refers to the tools and services used to track, pay, find, inform and manage employees in the organization. It aids in optimizing workforce management, retaining and maintaining talent, administering employee-benefit programs, recruitment, performance and payroll management. It is adopted by organizations to manage staff timing, streamline multiple processes and optimize compliance and administrative operations. It finds extensive application across various industries, such as healthcare, information technology (IT), travel, transportation and hospitality (TTH) and banking, financial services and insurance (BFSI).
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The India human resource (HR) technology market is primarily being driven by the widespread adoption of contactless hiring solutions in organizations. These advanced solutions provide enhanced flexibility, scalability and reduce the risks of implicit biases. Moreover, various technological advancements, such as the integration of artificial intelligence (AI), big data, cloud computing and augmented reality (AR) solutions for remote hiring and the management of employees, are providing a thrust to the market growth. Other factors, including rapid digitization and the adoption of work-from-home (WFH) policies, are anticipated to drive the market toward growth across the country.
- 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
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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