The Artificial Intelligence in HR Global Market Report 2023, provides comprehensive information on the artificial intelligence in HR market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Artificial Intelligence in HR Global Market Report 2023, the global artificial intelligence in HR market is expected to grow from $4.50 billion in 2022 to $5.28 billion in 2023 at a compound annual growth rate (CAGR) of 17.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The artificial intelligence in HR market is expected to reach $9.80 billion in 2027 at a CAGR of 16.7%.
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Technological innovations are a key trend gaining popularity in artificial intelligence in the HR market. Major companies operating in artificial intelligence in the HR market are adopting new technologies to sustain their position in the market. For instance, in March 2023, Beamery Technologies Limited, a UK-based talent engagement and recruitment software company, launched the world’s first generative AI for HR technology, which can be used to develop job descriptions and make career recommendations to employees. This new technology allows the company to simplify and drastically reinvent all Beamery customer experiences. Beamery’s talent graph, which tracks over 17 billion data points about people, talents, and jobs, and bias-audited AI models and generative AI, serves as the platform’s foundation.
The artificial intelligence in HR market is segmented:
1) By Offering: 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
North America was the largest region in the artificial intelligence in HR market in 2022.
The table of contents in TBRC’s artificial intelligence in HR market report includes:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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