The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Human Resources (HR) Transformation Consulting Global Market Report 2024, the human resources (HR) transformation consulting market is expected to show significant growth in the forecast period.

The human resources (HR) transformation consulting market has been experiencing rapid growth, driven by technological advancements, shifting work models, and evolving business needs. This blog delves into the current state of the market, key growth drivers, and future trends.

Market Size and Growth

Recent Growth

• 2023 Market Size: $13.43 billion
• 2024 Market Size: $15.9 billion
• CAGR: 18.4%

Recent growth in the HR transformation consulting market is due to:

• Technological advancements
• Demographic shifts
• Regulatory changes
• Geopolitical events

Forecasted Growth

• 2028 Market Size: $31.3 billion
• CAGR: 18.5%

Future growth is expected to be fueled by:

• Artificial intelligence (AI)
• Sustainability initiatives
• Remote work trends
• Digital transformation
• Expansion into emerging markets

View More On The Human Resources (HR) Transformation Consulting Market Report 2024 – https://www.thebusinessresearchcompany.com/report/human-resources-hr-transformation-consulting-global-market-report

The Impact of Remote and Hybrid Work Models

Growth Drivers

• Adoption Increase: Remote and hybrid work models are reshaping the HR landscape.
• Technology Integration: Advancements in digital tools and technologies support remote and hybrid work.
• Work Preferences: Changing employee preferences and flexibility needs drive the adoption of these models.

Example

• AT&T Inc. Projection: The percentage of companies embracing hybrid work models is expected to rise from 42% in 2021 to 81% by 2024.

HR transformation consulting services focus on:

• Optimizing HR strategies and processes
• Supporting distributed teams
• Ensuring seamless collaboration in virtual settings

Major Players in the Market

Key Companies

• Accenture plc
• International Business Machines Corporation (IBM)
• KPMG International Cooperative
• Tata Consultancy Services Limited (TCS)
• Capgemini SE
• Cognizant Technology Solutions Corporation
• McKinsey & Company Inc.
• The Boston Consulting Group Inc.
• Bain & Company Inc.
• Korn Ferry
• Mercer (US) Inc.
• PA Consulting Group Limited
• BearingPoint Holding B.V.
• Sia Partners
• The Hackett Group Inc.
• Nicheton Consulting LLP

Embracing AI and Automation

Technological Advancements

• AI and Automation: Companies are leveraging AI and automation to transform HR processes.
• Optimizations: Enhancements in recruitment, candidate experiences, predictive talent analytics, and administrative duties.

Case Study: EY.AI Workforce

• Launch: In October 2023, Ernst & Young Global Limited and IBM unveiled EY.AI Workforce.
• Capabilities: Combines IBM Watson’s AI with EY’s HR expertise to streamline operations and boost productivity.
• Benefits: Delivers tailored solutions, improves efficiency, and drives innovation.

Strategic Acquisitions and Market Expansion

People2.0 Global and Husys Consulting Ltd.

• Acquisition: In August 2022, People2.0 Global acquired Husys Consulting Ltd.
• Impact: Strengthens People2.0’s presence in the Indian market and enhances Husys’s global capabilities.
• Husys: Provides end-to-end HR consulting, including strategy development and change management.

Market Segmentation

By Type

• Human Resource Technology Strategy
• Human Resource Architecture and Change Management
• Human Resource Vendor and Software Selection
• Other Types

By Organization Size

• Small and Medium Enterprises (SMEs)
• Large Enterprises

By End User

• Information Technology (IT) and Telecommunications
• Banking, Financial Services, and Insurance (BFSI)
• Healthcare
• Retail and E-commerce
• Other End Users

Regional Insights

• North America: Largest region in the HR transformation consulting market in 2023.

The HR transformation consulting market is rapidly evolving, driven by technological innovations, changing work environments, and expanding global needs. Companies are embracing AI and automation to enhance HR functions, while remote and hybrid work models continue to shape the consulting landscape. As businesses adapt to these trends, the market is set for substantial growth in the coming years.

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The Human Resources (HR) Transformation Consulting Global Market Report 2024  provides an in-depth analysis on the human resources (HR) transformation consulting market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the human resources (HR) transformation consulting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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