The human resources (hr) transformation consulting global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Human Resources (HR) Transformation Consulting Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size – The human resources (HR) transformation consulting market size has grown rapidly in recent years. It will grow from $13.43 billion in 2023 to $15.9 billion in 2024 at a compound annual growth rate (CAGR) of 18.4%. The growth in the historic period can be attributed to technological advancements, demographic shifts, regulatory changes, geopolitical events.
The human resources (HR) transformation consulting market size is expected to see rapid growth in the next few years. It will grow to $31.3 billion in 2028 at a compound annual growth rate (CAGR) of 18.5%. The growth in the forecast period can be attributed to artificial intelligence, sustainability initiatives, remote work trends, digital transformation, emerging markets expansion. Major trends in the forecast period include AI integration, remote work facilitation, well-being focus, agile HR strategies, talent analytics.
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Scope Of Human Resources (HR) Transformation Consulting MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Human Resources (HR) Transformation Consulting Market Overview
Market Drivers -The rising adoption of remote and hybrid work models is expected to propel the growth of the human resources (HR) transformation consulting market going forward. Remote and hybrid work refers to individuals or teams working together seamlessly from different locations using digital tools and technologies. Remote and hybrid work is rising due to technological advancements, changing work preferences, and the need for flexibility amidst global events such as the COVID-19 pandemic. HR transformation consulting services for remote or hybrid work environments focus on optimizing HR strategies, processes, and technologies to effectively support distributed teams and ensure seamless collaboration and engagement across virtual settings. For instance, in February 2022, according to AT&T Inc., a US-based telecommunications company, the projected percentage of companies embracing a hybrid work model, where employees alternate between remote and office work, is expected to surge from 42% in 2021 to 81% by 2024. Therefore, the rising adoption of remote and hybrid work models is driving the growth of the human resources (HR) transformation consulting market.
Market Trends – Major companies in the human resource (HR) transformation consulting market are focusing on advanced technologies such as artificial intelligence (AI) and automation to revolutionize traditional HR processes and drive digital transformation initiatives. AI and automation within HR transformation consulting optimize recruitment, elevate candidate experiences, facilitate predictive talent analytics, customize learning initiatives, automate administrative duties, and advance diversity and inclusion initiatives. For instance, in October 2023, Ernst & Young Global Limited, a UK-based consulting company, and International Business Machines Corporation, a US-based technology company, unveiled EY.AI Workforce, an HR solution leveraging IBM Watson’s (a computer system developed by IBM capable of answering questions posed in natural language) AI capabilities, to streamline HR operations and boost productivity. It combines IBM’s automation technology with EY’s HR expertise, organizations can efficiently integrate AI into their key HR processes, empowering employees to focus on more strategic tasks while routine activities are automated. Businesses can anticipate that the EY.AI Workforce will deliver tailored solutions, enhance efficiency, and drive innovation across their HR functions, thereby marking a significant advancement in the role of AI in modernizing HR operations.
The human resources (HR) transformation consulting market covered in this report is segmented –
1) By Type: Human Resource Technology Strategy, Human Resource Architecture And Change Management, Human Resource Vendor And Software Selection, Other Types
2) By Organization Size: Small And Medium Enterprises, Large Enterprises
3) By End User: Information Technology (IT) And telecommunications, Banking, Financial Services, And Insurance (BFSI, Healthcare, Retail And E-commerce, Other End Users
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Regional Insights – North America was the largest region in the human resource (HR) transformation consulting market in 2023. The regions covered in the human resources (HR) transformation consulting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies – Major companies operating in the human resources (HR) transformation consulting market are Accenture plc, International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, PricewaterhouseCoopers International Limited, Ernst & Young Global Limited, KPMG International Cooperative, Tata Consultancy Services Limited, Capgemini SE, Cognizant Technology Solutions Corporation, McKinsey & Company Inc., The Boston Consulting Group Inc., Bain & Company Inc., Korn Ferry, Mercer (US) Inc., PA Consulting Group Limited, BearingPoint Holding B.V., Sia Partners, The Hackett Group Inc., ScottMadden Inc., Longevity Consulting LLC, Hewitt Associates LLC, Rolling Arrays Consulting Pte. Ltd., Veran Performance Ltd, HCM Consultants Inc., Nicheton Consulting LLP
Table of Contents 1. Executive Summary2. Human Resources (HR) Transformation Consulting Market Report Structure3. Human Resources (HR) Transformation Consulting Market Trends And Strategies4. Human Resources (HR) Transformation Consulting Market – Macro Economic Scenario5. Human Resources (HR) Transformation Consulting Market Size And Growth…..27. Human Resources (HR) Transformation Consulting Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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