SAN FRANCISCO, CA -- (Marketwire) -- 09/09/12 -- MarketAnalysis.com has announced the addition of the new report "Human Resources (HR) Software Market Forecast 2013-2018." For more information, visit http://www.marketanalysis.com/?p=338.
The HR software market is forecast to grow by 2018 with a seemingly low CAGR of 2.4%. However, this relatively low overall growth rate is not indicative of the profound market shifts and inner market dynamics. The HR software market went through an unprecedented wave of consolidation in just two years. The years 2011 and 2012 were marked by three major acquisitions -- IBM buying Kenexa, Oracle buying Taleo and SAP buying SuccessFactors.
The ERP software giants pursue a double strategy in acquiring HR software companies:
Despite lack of growth in such traditional segments of the HR software market as payroll, time and attendance, and benefits management, these segments still represent a big and lucrative chunk of the market. The growth in the HR software market is driven by talent management sectors (recruiting, training, performance management/BI, and leadership/succession management) as well as by shift to software-as-a-service (SaaS) model.
The report provides detailed year-by-year (2013 - 2018) forecasts for the following HR software market segments:
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