We dig into HR technology from an employer's perspective to find emerging sectors and to see where the industry is headed next.
HR departments are increasingly implementing software to modernize their recruiting, talent, and administrative processes.
As a result, the total addressable market for HR tech startups continues to grow. Globally, human resources technology now represents a $148B opportunity, according to CB Insights’ market sizing tool. This opportunity has led to a jump in funding to private HR tech startups to $5B in 2018, up 75% from 2017.
The evolving space has sparked a new generation of HR tech companies, including startups focused on leveraging artificial intelligence to enrich processes like employee engagement, talent acquisition, and talent management.