Dublin, March 04, 2019 (GLOBE NEWSWIRE) -- The "India HCM Market In SMB Sector, by Vertical, and City - Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
The India SMB HCM market is expected to grow from USD 118.45 million in 2017 to USD 213.63 million by 2022, at a CAGR of 12.5% during the forecast period.
India SMB HCM Market growth is mostly driven by IT & ITeS and Manufacturing sector boosted by the central government initiatives, such as Make in India, Startup India, and Skill India.
New entrants in the market should start with Mumbai, Bengaluru, and NCR region in 2018-2019 and gradually expand to Hyderabad and Chennai in the following year, and next set of cities (Pune and Ahmedabad) in the subsequent year.
Top 3 aspects that businesses and HR leaders from the SMB sector are looking for are ease-of-use (Software should not demand any specialist to operate it), user-friendly, and measurable (results achieved by software should be measurable).
SMBs in the 200-1000 employees segment should be targeted by HCM vendors, as the product’s acceptability would be more in this segment.
SMBs have limited IT budget and they can not afford to spend much on software, therefore, they prefer to work directly with vendors to save cost or prefer HCM partners that provide minimal involvement of third-party vendors.
The applicability of HCM is getting pace among India SMBs and it introduces prospects for HCM vendors, cloud service providers, third-party service providers, and technology providers.
Challenges include security concerns related to Software as a Service (SaaS) based HCM solutions across a large number of organizations and across their mobile devices. It may affect the adoption across organization especially among SMBs that have budget constraints.
The report includes the study of the key players offering HCM solutions, these include Keka (Hyderabad), Darwinbox (Hyderabad), greytHR (Bengaluru), ZingHR (Mumbai), People Works (Bengaluru), Zoho (Chennai) are the key players operating in the market. It also includes an in-depth competitive analysis of the key HCM players, and vendor comparison analysis.
Topics Covered
1 Introduction
1.1 Objectives of the Study
1.2 Market Scope
1.3 Market Definition
1.4 Currency
1.5 Limitation
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Key Data From Secondary Data
2.1.2 Key Data From Primary Data
2.2 Market Estimation and Forecast Methodology
2.3 Vendor Analysis Matrix Methodology
2.3.1 Vendor Inclusion Criteria
2.4 Research Assumptions
3 Premium Insights
4 Market Overview
4.1 Market Drivers
4.2 Market Restraints
4.3 Market Opportunity
4.4 Market Challenges
5 India HCM Market in SMB Opportunity
5.1 India HCM Market Opportunity in SMB, By Verticals
5.2 Market Opportunity in SMB, By Cities
6 Competitive Landscape
6.1 Vendor Offerings: Market Snapshot
6.1.1 Vendor Offerings Comparison - (Keka, Darwinbox, Greythr)
6.1.2 Vendor Offerings Comparison - (Zinghr, Peopleworks, Zoho People)
7 Company Profiles
7.1 Keka
7.2 Darwinbox
7.3 Greythr
7.4 Zinghr
7.5 Peopleworks
7.6 Zoho People
For more information about this report visit https://www.researchandmarkets.com/research/hvm3vv/the_hcm_market_in?w=12
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