A Wall Street analyst says the $150 billion HR software market could face slower growth or 'outright shrinkage' as the coronavirus crisis leads to more unemployment
The market for human resrouces management software, which is worth $150 billion, is bound to face slower growth if not "outright shrinkage," a Wall Street analyst aid.
"The human capital management market stands to see either much slower growth or outright shrinkage if current trends persist, from fewer dollars spent on employment and more platforms to serve those dollars," Wald said.The market for software used for managing human resources and payroll is worth $150 billion. And it's poised for slower growth or even "outright shrinkage" as the coronavirus crisis sparks a downturn, said a Wall Street analyst.
That's about to change dramatically as the pandemic takes its toll on the economy and potentially leads to massive job cuts. HR software has become so competitive that "growth comes from taking/losing market share" as well as establishing deeper relationships with existing clients and more hiring.
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