The Business Research Company’s Artificial Intelligence In HR Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Artificial Intelligence In HR Global Market Report 2023 evaluates artificial intelligence in hr market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global Artificial Intelligence (AI) in Human Resources (HR) market is poised for substantial growth, transitioning from a valuation of $4.50 billion in 2022 to an estimated $5.28 billion in 2023. This surge is underpinned by a robust Compound Annual Growth Rate (CAGR) of 17.3%. The dynamics of this expansion, however, are intricately entwined with global events, particularly the Russia-Ukraine conflict, which has significantly hampered the world’s ability to recover from the economic challenges posed by the COVID-19 pandemic. The consequences of this protracted war have been felt across international boundaries, manifested through economic sanctions imposed on multiple nations, a sharp escalation in commodity prices, and a disruptive impact on global supply chains. These disruptive forces have, in turn, catalyzed inflationary pressures across a wide spectrum of goods and services, consequently influencing interest rates and creating ripple effects in markets worldwide. In this tumultuous landscape, the AI in HR market is anticipated to ascend to an impressive $9.80 billion by 2027, sustaining a noteworthy CAGR of 16.7%.
The impetus behind this upward trajectory lies in the surging demand for automation within HR operations. Automation in HR signifies the application of technology, encompassing specialized software and systems, to rationalize and mechanize the spectrum of administrative and repetitive tasks inherent to the HR domain. AI, with its cognitive prowess, emerges as a transformative force in the automation of HR operations. It bolsters key facets, such as candidate screening and recruitment, data entry, workflow management, and data processing. This potential has been vividly exemplified by the Society for Human Resource Management (SHRM), a prominent U.S.-based HR professional membership association, which conducted a survey in February 2022 involving 1,688 HR professionals. The findings revealed that 16% of corporations have already adopted automation and AI, with a resounding 85% attesting to the time-saving and efficiency-enhancing attributes of these technologies. Remarkably, one in five organizations intends to commence or expand their utilization of these tools for performance management over the next half-decade, while one in four organizations aspires to integrate automation and AI into their recruitment and hiring processes within the same timeframe. Thus, the escalating call for automation within HR operations emerges as a propellant, steering the growth of the AI in HR market towards a promising future.
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The artificial intelligence in hr market segments in the report are:
1) By ffering: Hardware, Software, Services
2) By Technology: Virtual Assistants, Metaverse, AI Chatbot, People Analytics, Machine Learning, Computer Vision, Natural Language Processing, Other Technologies
3) By Enterprise Size: Small And Medium Enterprises, Large Enterprises
4) By Application: Workforce Management, Talent Management, Payroll Management, Performance Management, Recruitment, Hiring, Other Applications
5) By Industry: Academic, Banking, Financial Services and Insurance (BFSI), Government, Healthcare, Information Technology(IT) And Telecom, Manufacturing, Retail, Other Industries
Top 5 Major Players:
Table of contents:
2. Artificial Intelligence in HR Market Characteristics
3. Artificial Intelligence in HR Market Trends And Strategies
4. Artificial Intelligence in HR Market – Macro Economic Scenario
5. Global Artificial Intelligence in HR Market Drivers and Restraints
….
32. Global Artificial Intelligence in HR Market Competitive Benchmarking
33. Global Artificial Intelligence in HR Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Artificial Intelligence in HR Market
35. Artificial Intelligence in HR Market Future Outlook and Potential Analysis
36. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2017-2022, $ Billion
Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
Table 3: Global Artificial Intelligence in HR Market, Segmentation By Offering, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 4: Global Artificial Intelligence in HR Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 5: Global Artificial Intelligence in HR Market, Segmentation By Enterprise Size, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
….
Table 76: IBM Corporation Financial Performance
Table 77: Oracle Corporation Financial Performance
Table 78: SAP SE Financial Performance
Table 79: Automatic Data Processing Inc. Financial Performance
Table 80: Workday Inc. Financial Performance
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