SAAS-based Human Resource Market Analysis

Type (Cloud Based, On-premise)

The cloud-based segment in the SAAS-based human resource market is estimated to gain a robust revenue share of 60% in the coming years owing to the increasing adoption of cloud-based services among organizations. For instance, about 43% of talent managers prefer cloud-based solutions to increase efficiency and productivity, and around 34% look for cloud-based systems to reduce operating costs. Cloud-based services provide easy access to data and allow real-time data sharing to multiple users with efficient management. Cloud-based SaaS HR software simplifies HR administration and offers a large number of HR management features such as including time and attendance, recruitment, performance management, training, document management, and payroll. The software is a sophisticated cloud-based HR system hosted by a separate outside vendor, which is easily customizable and scalable, making it possible to quickly adjust to changes in the organization, and provides organizations with sophisticated tools that let them keep employee data in a single, safe, and convenient location. These days, cloud-based solutions are growing in popularity as with a cloud-based HRM system, users can safely save employee records and documents in one place with restricted access, and also send out expiration date reminder messages. Moreover, cloud-based HR software increases business efficiency by providing easy scalability and customization. In addition, when compared to on-premises software applications, cloud HR SaaS is more affordable, and is a highly practical solution designed to manage all of the business's assets.

End-user (IT & Telecom, Manufacturing, Healthcare, Banking, Financial Services & Insurance, Government, Logistics)

The IT & Telecom segment in the SAAS-based human resource market is set to garner a notable share shortly. With thousands of workers, telecom is an important industry, therefore telecom firms integrate proprietary and open-source software into their technology stack to decrease human error in the process while also saving time, and also assists with employee training programs and performance management reviews, which boosts output.

Our in-depth analysis of the global SAAS-based human resource market  includes the following segments: