HR Tech

A Statista DossierPlus on the global market for digitalized human resources solutions

HR Tech Human resources (HR) is becoming more important and more complex, as it focuses on many diverse aspects of employer-employee relationships. As with most industries, technology is reshaping the way in which firms approach HR in the fast-growing field known as HR tech, which already earns 47.4 billion U.S. dollars in revenue annually.

Most of the market is concentrated in incumbent firms such as ADP, a personnel management and payroll firm, or Linkedin, a recruitment platform owned by Microsoft. However, startups are gaining larger revenues, such as the learning and development company Udemy. Regionally, North America dominated the market in 2019.

This DossierPlus provides an overview of the HR tech sector globally, as well as the major drivers of growth up to 2025. The impact of incumbent firms and startups is examined, as well as the division of the market into different sectors and regions. It also considers the impacts of the COVID-19 pandemic on the industry.

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HR tech has been influenced by the COVID-19 pandemic in two ways. First, employment in general has declined, with a large number of workers losing their jobs as firms being forced to furlough or downsize many workers. This creates a significant job for human resources, much of which must now be done remotely due to COVID-19 restrictions and precautions.

At the same time, the workers that have remained in their positions have shifted to remote work. This brings an opportunity for HR tech to assist in communication, collaboration, remote worker engagement and recognition, and employee development. Incumbent firms are expanding their existing business models, preparing to scale their products and platforms to accommodate the shift to remote work. At the same time, startups are making inroads into the market, often with more narrowly directed products. This DossierPlus explores how this shifting landscape will affect the HR tech market.

Most HR tech firms are headquartered in North America. This document gives an explanation why, while projecting the chances of a shift towards other markets. It also explores what sectors of the HR tech market will experience the largest growth, as well as where startups are likely to make inroads.

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