The Latin America, Middle East and Africa Human Resource Management Market would witness market growth of 14.9% CAGR during the forecast period (2021-2027).
Due to the work-from-home practices, small and medium enterprises are adopting new HRM solutions to make efficient & strategic decisions. HRM solutions are gaining traction among various companies, which are increasingly focusing on talent acquisition and workforce planning to tackle the challenges regarding the retention of human capital. In addition, large enterprises are searching for an all-in-one solution for fulfilling all their HR requirements. Several key market players like ADP have already launched strong HRM solutions to fulfil the requirements of these large enterprises.
The growing requirement for managing the extensive workforce along with the increasing demand for substituting legacy systems with advanced human capital management platforms is estimated to surge the growth of the market over the forecast period. The key players of the Human resource management (HRM) market are majorly focusing on the development of software/solutions, which are easily combined with mobile apps, thus helping employees & employers to get the information regarding leaves, time & attendance, and performance status from their devices.
There is increasing adoption of various advanced solutions by companies across various industrial verticals is pushing the regional human resource management market forward. In addition, the growing investment of SMEs and large enterprises in the implementation of such solutions would create lucrative opportunities for the key market players.
Moreover, HRM solutions enable companies to better plan for the HR policies, work on the retention of employees, improve relations of the employees with the companies, better handle disputes across the companies, and maintain employee accounts within the organization. All these features are attracting more enterprises to implement these solutions to achieve the objectives of the organizations within a certain timeframe.
The Brazil market dominated the LAMEA Healthcare Human Resource Management Market by Country 2020, thereby, achieving a market value of $159.5 million by 2027. The Argentina market would witness a CAGR of 16.6% during (2021 - 2027). Additionally, The UAE market is showcasing a CAGR of 15.7% during (2021 - 2027).
Based on Component, the market is segmented into Software and Services. Software market is bifurcated across Core HR, Recruiting, Workforce Planning & Analytics, Talent Management, Employee Collaboration & Engagement and Others. Based on Deployment Type, the market is segmented into On-premise and Hosted. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into IT & Telecom, BFSI, Retail, Healthcare, Manufacturing, Government & Public Sector and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Human Resource Management Market is Predict to reach $39.5 Billion by 2027, at a CAGR of 11.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Accenture PLC, ADP, Inc., Ceridian HCM Holding, Inc., IBM Corporation, Oracle Corporation, Workday, Inc., Marsh McLennan Companies, Inc. (Mercer LLC), Talentsoft (Cegid), UKG, Inc., and SAP SE
By Component
By Deployment Type
By Enterprise Size
By End User
By Country
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