As of 2019, the revenue generated worldwide in the HR tech market amounted to nearly 47.5 billion U.S. dollars. This figure is predicted to increase steadily in the following years, reaching a total value of 90 billion U.S. dollars by 2025. The positive trend appeares to apply to both incumbents and startups. For instance, the revenue generated by incumbents in the global HR tech market is predicted to increase from 45.45 billion U.S. dollars in 2019, to 82.62 billion U.S. dollars in 2025. Incumbents are in general more robust than startups. This was an advantage during the recession due to the COVID-19 pandemic. However, startups tend to be more innovative. Find more insights about the sector in the latest Statista's report on HR Tech.
Estimated revenue of incumbents and startups in HR tech market worldwide in 2019 with a forecast until 2025
(in billion U.S. dollars)
*Forecast.
Incumbents are defined as companies established more than 10 years before the reference year. Startups are defined as companies established less than 10 years before the reference year.
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Statista. (January 1, 2021). Estimated revenue of incumbents and startups in HR tech market worldwide in 2019 with a forecast until 2025 (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 23, 2024, from https://www.statista.com/statistics/1186635/revenue-of-incumbents-and-startups-worldwide-hr-tech/
Statista. "Estimated revenue of incumbents and startups in HR tech market worldwide in 2019 with a forecast until 2025 (in billion U.S. dollars)." Chart. January 1, 2021. Statista. Accessed November 23, 2024. https://www.statista.com/statistics/1186635/revenue-of-incumbents-and-startups-worldwide-hr-tech/
Statista. (2021). Estimated revenue of incumbents and startups in HR tech market worldwide in 2019 with a forecast until 2025 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 23, 2024. https://www.statista.com/statistics/1186635/revenue-of-incumbents-and-startups-worldwide-hr-tech/
Statista. "Estimated Revenue of Incumbents and Startups in Hr Tech Market Worldwide in 2019 with a Forecast until 2025 (in Billion U.S. Dollars)." Statista, Statista Inc., 1 Jan 2021, https://www.statista.com/statistics/1186635/revenue-of-incumbents-and-startups-worldwide-hr-tech/
Statista, Estimated revenue of incumbents and startups in HR tech market worldwide in 2019 with a forecast until 2025 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1186635/revenue-of-incumbents-and-startups-worldwide-hr-tech/ (last visited November 23, 2024)
Estimated revenue of incumbents and startups in HR tech market worldwide in 2019 with a forecast until 2025 (in billion U.S. dollars) [Graph], Statista, January 1, 2021. [Online]. Available: https://www.statista.com/statistics/1186635/revenue-of-incumbents-and-startups-worldwide-hr-tech/
