NelsonHall’s recently published (July, 2017) Targeting Cloud-Based HR Services market analysis report estimates the global cloud-based HR services market to be $15.2bn, and this is expected to continue its growth trajectory (~6.3% CAGR) to reach $20.6bn by 2021.
With the largest portion of the market coming from cloud implementations (~44%), it’s interesting to find that less than half of the current multi-process HR outsourcing contracts are being delivered on cloud-based systems. Despite the growing appetite for cloud-based HR platforms, vendors continue to encounter organizations hesitant to leave traditional on-premise systems and make the switch to the cloud.
