Incumbent HR tech firms, defined as those ten or more years old, controlled almost 96 percent of the market as of 2019. However, startups are expected to double their share of the HR tech market by 2025, increasing to 8.2 percent from a share of 4.1 percent in 2019. 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 market share of incumbents and startups in HR tech industry worldwide in 2019 with a forecast for 2025
*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 market share of incumbents and startups in HR tech industry worldwide in 2019 with a forecast for 2025 [Graph]. In Statista. Retrieved December 21, 2024, from https://www.statista.com/statistics/1197454/incumbents-vs-startups-hr-tech-market-share-worldwide/
Statista. "Estimated market share of incumbents and startups in HR tech industry worldwide in 2019 with a forecast for 2025." Chart. January 1, 2021. Statista. Accessed December 21, 2024. https://www.statista.com/statistics/1197454/incumbents-vs-startups-hr-tech-market-share-worldwide/
Statista. (2021). Estimated market share of incumbents and startups in HR tech industry worldwide in 2019 with a forecast for 2025. Statista. Statista Inc.. Accessed: December 21, 2024. https://www.statista.com/statistics/1197454/incumbents-vs-startups-hr-tech-market-share-worldwide/
Statista. "Estimated Market Share of Incumbents and Startups in Hr Tech Industry Worldwide in 2019 with a Forecast for 2025." Statista, Statista Inc., 1 Jan 2021, https://www.statista.com/statistics/1197454/incumbents-vs-startups-hr-tech-market-share-worldwide/
Statista, Estimated market share of incumbents and startups in HR tech industry worldwide in 2019 with a forecast for 2025 Statista, https://www.statista.com/statistics/1197454/incumbents-vs-startups-hr-tech-market-share-worldwide/ (last visited December 21, 2024)
Estimated market share of incumbents and startups in HR tech industry worldwide in 2019 with a forecast for 2025 [Graph], Statista, January 1, 2021. [Online]. Available: https://www.statista.com/statistics/1197454/incumbents-vs-startups-hr-tech-market-share-worldwide/
