Human Capital Management Market Worth $22,174 Million by 2023 - Top Impacting Growth Factors with Forecast by 2023

The global HCM market was valued at $13,004 million in 2016, and is projected to reach at $22,174 million by 2023, growing at a CAGR of 7.8% from 2017 to 2023. Managed services segment is anticipated to witness the highest growth rate during the forecast period.

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North America was the highest revenue contributor in the global market in 2016, due to increase in need to automate HR processes such as talent management, performance management, and compensation management. In addition, increase in adoption of cloud-based solutions and low deployment cost & maintenance expense fuel the growth of the market. In addition, Asia-Pacific is anticipated to witness a significant growth rate during the forecast period, owing to the growth in need to streamline HR function, increase in adoption of HCM solution among SMEs, and other factors.

In 2016, the services segment accounted for the highest share in the market. Further the managed services is anticipated to witness the highest growth rate from 2017 to 2023, owing to reduced time and cost linked with optimizing the system in the initial phase of deployment, post production support and empowering organizations to transition smoothly.

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The key players profiled in the study include ADP LLC, Cornerstone OnDemand, Epicor Software Corporation, IBM Corporation, Infor, Kronos, Inc., Oracle Corporation, SAP SE, SumTotal Systems, LLC, and Ultimate Software Group, Inc. These players have adopted competitive strategies, such as geographical expansions, mergers & acquisitions, new product launches, and partnerships & collaborations, to expand the growth of the HCM market.

Analyst Review:

The HCM market is expected to witness average growth rate of 7.8% during the forecast period, due to increase in demand for unified HCM suite, increase in adoption of cloud-based HCM solution, and growth in need to streamline HR operations.

Table of Content


Chapter: 1 INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. RESEARCH METHODOLOGY

1.3.1. Primary research
1.3.2. Secondary research
1.3.3. Analyst tools and models
1.3.4. Market segmentation

Chapter: 2 EXECUTIVE SUMMARY

2.1. CXO PERSPECTIVE

Chapter: 3 MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top winning strategies
3.2.2. Top investment pockets
3.2.3. Top impacting factors

3.2.3.1. Rise in adoption of cloud based HCM software
3.2.3.2. Growing need to streamline HR operations
3.2.3.3. Increasing demand for HCM unified HCM solution
3.2.3.4. Data Security and privacy concern related to cloud deployment
3.2.3.5. Need to comply with government regulations
3.2.3.6. Increasing Popularity of workforce analytics solution
3.2.3.7. Rising adoption of digital HR technology

3.3. PORTER’S FIVE FORCES

3.3.1. Bargaining power of suppliers
3.3.2. Bargaining power of buyers
3.3.3. Threat of substitutes
3.3.4. Threat of new entrants
3.3.5. Competitive rivalry

3.4. MARKET PLAYER POSITIONING
3.5. MARKET DYNAMICS

3.5.1. Drivers

3.5.1.1. Rise in adoption of cloud based HCM software
3.5.1.2. Growing need to streamline HR operations
3.5.1.3. Increasing demand for a unified HCM suite

3.5.2. Restraints

3.5.2.1. Data security and privacy concerns due to cloud based deployment
3.5.2.2. Need to comply with government regulations

3.5.3. Opportunities

3.5.3.1. Increasing popularity of workforce analytics solutions
3.5.3.2. Increasing adoption digital HR technology

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Chapter: 4 HCM MARKET, BY COMPONENT

4.1. OVERVIEW
4.2. SOLUTION
4.3. CORE HR

4.3.1. Key market trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast

4.4. RECRUITING

4.4.1. Key market trends
4.4.2. Key growth factors and opportunities
4.4.3. Market size and forecast

4.5. WORKFORCE MANAGEMENT

4.5.1. Key market trends
4.5.2. Key growth factors and opportunities
4.5.3. Market size and forecast

4.6. COMPENSATION & PAYROLL

4.6.1. Key market trends
4.6.2. Key growth factors and opportunities
4.6.3. Market size and forecast

4.7. OTHERS (LEARNING, APPLIANT TRACKING & ONBOARING)

4.7.1. Key market trends
4.7.2. Key growth factors and opportunities
4.7.3. Market size and forecast

4.8. SERVICES
4.9. MANAGED SERVICE

4.9.1. Key market trends
4.9.2. Key growth factors and opportunities
4.9.3. Market size and forecast

4.10. PROFESSIONAL SERVICE

4.10.1. Key market trends
4.10.2. Key growth factors and opportunities
4.10.3. Market size and forecast

Chapter: 5 HCM MARKET, BY DEPLOYMENT MODEL

5.1. OVERVIEW
5.2. CLOUD

5.2.1. Key market trends
5.2.2. Key growth factors and opportunities
5.2.3. Market size and forecast

5.3. ON-PREMISES

5.3.1. Key market trends
5.3.2. Key growth factors and opportunities
5.3.3. Market size and forecast

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