HR Management Software Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

HR Management Software Industry Overview

The HR management software market is witnessing several new entrants and bigger players with their cloud-based offerings. Due to many players, the market is moderate to highly fragmented, depending on the geographical region, and displays an average intensity of competition. Several players leverage acquisitions and other strategic integration of services with clients and partners to facilitate smooth internal function.

• June 2022 - Workday, Inc. announced that Mohegan had selected Workday Human Capital Management (HCM) and Workday Financial Management to support its global growth. With more than 10,000 employees worldwide, Mohegan is a master developer and operator of premier entertainment resorts. The organization is experiencing accelerated growth as it expands operations across countries, including the U.S., Canada, and South Korea. With Workday, Mohegan will leverage one system for finance and HR with a single source to help manage, optimize, and automate business processes, improve planning and reporting to support global expansion, and deliver engaging employee experiences by eliminating manual data entries and automating finance and HR functions.
• March 2022 - UKG Inc. announced the acquisition of Ascentis Corporation. Ascentis Corporation provided full-suite HR and workforce management solutions, registering a growth from 860 customers to 4,800 customers in the past five years. As part of the acquisition, several Ascentis employees throughout the United States and Montevideo, Uruguay, joined UKG. The acquisition further strengthens UKG's market strength by adding tenured industry expertise, with UKG currently employing around 14,000 employees worldwide.