PUNE, India, Oct. 21, 2022 (GLOBE NEWSWIRE) — The global Human Resource (HR) Technology market size was valued at $22.90 billion in 2021 and is projected to reach a valuation of $23.98 billion by 2022. The market is expected to reach USD 39.90 billion by 2029, with a CAGR of 7.5% over the forecast period. Increasing job opportunities due to the increasing adoption of technologies are expected to drive the market growth. The increasing adoption of AI and machine learning in enterprises is expected to propel the market course. Robot Process Automation (RPA) integration is one of the major trends expected to facilitate market development. Fortune Business Insights™ shares this information in its report entitled Human Resource (HR) Technology Market, 2022-2029.
key industry development
March 2022- Access Group acquired FastTrack, a cloud-based recruitment platform. The platform aims to help companies with payroll, billing and time tracking. It will support Access Recruitment’s software suite. The acquisition will help expand Access Group’s international reach.
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Report scope and segmentation
| report coverage | details |
| forecast period | 2022 to 2029 |
| Forecast period 2022 to 2029 CAGR | 7.5% |
| Value prognosis 2029 | $39.90 billion |
| base year | 2021 |
| Human resource technology market size in 2021 | $22.90 billion |
| Historical data for | 2018 to 2020 |
| number of pages | 140 |
| segments covered | Type; Mission; Company; Industry; |
| Growth Drivers of Human Resource Technology Market | Increased adoption of artificial intelligence and machine learning to drive the market |
| Data integration limitations and privacy threats are hampering market growth |
Effects of COVID-19:
adoption of Human Resource (HR) Technology During the pandemic to boost market growth
Due to the COVID-19 pandemic, there has been a shift towards…
