The core HR software market is forecast to grow by more than $3 billion by 2022, at a compound annual growth rate of 8.8 percent, according to a new report.
B2B research company MarketsandMarkets, who published the report, expects the market to rise from $6.47 billion to $9.89 billion.
North America is expected to have the largest HR software market share, due to its established economy and rapid adoption of human resource software.
The government sector is expected to contribute considerably to HR software market growth. With a wave of impending retirement-ready employees, the sector faces related needs that pension management and succession planning software may help it meet, according to the report.
For more information, view this summary.