The global Human Capital Management (HCM) market size reached USD 18.04 billion in 2020 and is expected to register a revenue CAGR of 7.9% during the forecast period, according to latest analysis by Emergen Research. Increasing adoption of cloud-based Human Capital Management (HCM) solutions is expected to support market revenue growth between 2021 and 2028. Besides, increasing integration of Robot Process Automation (RPA) with HR solutions will boost market growth. Currently, demand for cloud-based business models and talent mobility for workforce planning has increased at a rapid pace. Many businesses in various industries, including BFSI, healthcare, manufacturing, retail, telecommunications & Information Technology (IT), media & entertainment, and others are rapidly adopting cloud-based HCM solutions. Such solutions ensure secure access to various administrative functions through an innovative HR employee access portal. It further enables employees to access data remotely using smartphones and computers. These are some major factors driving growth of the global Human Capital Management (HCM) market revenue.
The latest research on the Human Capital Management market applies both qualitative and quantitative data analysis to present an overview of the future adjacencies around the Human Capital Management industry for the forecast period, 2021-2028.An extensive study of the product application and services conducted by subject matter experts assessing the Human Capital Management market will help product owners to make a wise decision. From analyzing which products companies should produce, expand to how brands should position their product the study covers all that business owners require meeting the buyers’ requirement.
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Competitive Terrain:
The global Human Capital Management industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
Microsoft Corporation, Workday, Inc., Automatic Data Processing, Inc., Ceridian HCM, Inc., Oracle Corporation, Cornerstone OnDemand, Inc., Ultimate Software Group, Inc., International Business Machines Corporation, SumTotal Systems, Inc., and Kronos Incorporated
Some Key Highlights from the Report
- Service segment is expected to expand at a substantially rapid revenue CAGR during the forecast period due to rising need for implementation and maintenance services as a result of increasing deployment of HCM solutions.
- Cloud segment is expected to register a significantly robust revenue growth rate over the forecast period as organizations are shifting rapidly towards cloud-based deployment models to manage large data efficiently and remotely.
- North America is expected to register a larger revenue growth rate in the Human Capital Management (HCM) market over the forecast period among other regional markets due to robust presence of international and domestic HCM solution providers such as Microsoft Corporation, Workday, Inc., Automatic Data Processing, Inc., Ceridian HCM, Inc., and Oracle Corporation, among others.
Key market aspects studied in the report:
Market Scope: The report explains the scope of various commercial possibilities in the global Human Capital Management market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.
Competitive Outlook: The leading companies operating in the Human Capital Management market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.
Report Objective: The primary objective of this report is to provide the manufacturers, distributors, suppliers, and buyers engaged in this sector with access to a deeper and improved understanding of the global Human Capital Management market.
Market Segmentations of the Human Capital Management Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2022 and 2030. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Human Capital Management market on the basis of product, application, and region:
Segments Covered in this report are:
Offering Outlook (Revenue, USD Billion; 2018–2028)
- Software
- Payroll Management
- Workforce Management
- Talent Management
- Applicant Tracking System
- Core HR
- HR Analytics
- Services
Deployment Outlook (Revenue, USD Billion; 2018–2028)
- On-premises
- Cloud
Organization Size Outlook (Revenue, USD Billion; 2018–2028)
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
Major Geographies Analyzed in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
