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.
However, data inconsistency problems as a result of implementation of various advanced solutions and HR standards by organizations are expected to hamper market revenue growth during the forecast period.
The report is refurbished with the impact of the COVID-19 pandemic on the global Human Capital Management market. The pandemic and subsequent social restrictions have dynamically changed the market and impacted the economic scenario of the market through disruptions in the supply chains, financial difficulties, and changes in the demands and trends of the industry. Moreover, a shift in consumer behavior has also affected the Human Capital Management industry. The report provides an in-depth impact analysis of the pandemic on the market to better understand the latest changes in the market and gain a futuristic outlook on a post-COVID-19 scenario.
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Human Capital Management Market Competitive Landscape:
The research offers a bird’s eye view of the current market scenario regarding the operations of the leading companies in the Human Capital Management market. The report presents an extensive analysis of the leading players with regards to their business portfolio, product portfolio, market share and size, global reach and position, revenue share, gross profit margins, and production and manufacturing capacity. Along with this, thorough research about their strategic business expansion plans such as mergers and acquisitions, joint ventures, collaborations, product and brand promotions, government and corporate deals, and partnerships, among others. To offer a better understanding of the competitive landscape, extensive SWOT analysis and Porter’s Five Forces analysis are included in the report.
Leading Players Analyzed in the Human Capital Management Market
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.
Human Capital Management Market Segmentation:
For imparting a clear understanding, the market is segmented on the basis of types, applications, and key geographical regions.
Emergen Research has segmented global Human Capital Management (HCM) on the basis of offering, deployment, organization size, end-use, and region:
Offering Outlook (Revenue, USD Billion; 2018–2028)
Software
Payroll Management
Workforce Management
Talent Management
Applicant Tracking System
Core HR
HR Analytics
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)
End-use Outlook (Revenue, USD Billion; 2018–2028)
Telecom & IT
Healthcare
Government
BFSI
Manufacturing
Transportation & Logistics
Education
Hospitality
Media and Entertainment
Retail
Others
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Human Capital Management Market Key Highlights
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.
In September 2021, Ceridian HCM, Inc., a worldwide leader in Human Capital Management (HCM) technology and PwC Mauritius announced a partnership in which the latter will provide consultancy and implementation services to organizations looking to improve operational activities using Ceridian’s HCM solution, Dayforce.
Key Questions Addressed in the Report:
Who are the leading players of the Human Capital Management industry?
Which region is expected to dominate the market in the coming years?
What are the key applications of the Human Capital Management market?
Which segment is expected to garner traction during the coming years?
What are the key strategies adopted by the players in the market?
What are the technological developments and product advancements occurring in the market?
What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
Key Regions Studied in the Human Capital Management Market
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)
In conclusion, the report provides a qualitative and quantitative analysis of the Global Human Capital Management market, including the global and regional analysis of the market. The study covers critical information and factual data about the Human Capital Management market industry, along with an in-depth statistical analysis of the market drivers, limitations, growth prospects, opportunities, and threats. On the basis of the current market scope, the report provides an extensive analysis of how the Human Capital Management market is expected to fare in the forecast timeline. The report utilizes advanced analytical tools to offer an estimation of the outlook of the global state of the Human Capital Management market industry.
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