Human Capital Management Market Size, Product Trends, Key Companies, Revenue Share Analysis, 2021-2028

Market Size - USD 18.04 Billion in 2020, Market Growth - at a CAGR of 7.9%, Market Trends - Increasing adoption of cloud-based HCM solutions
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 latest research report is dubbed as the first document encompassing the latest information about the Human Capital Management market that has been gravely affected by the COVID-19 pandemic. The global health crisis poses significant threats to the future growth of the Human Capital Management industry. The report assesses the profound changes in this business setting caused by the outbreak and considers the prominent market aspects that have been severely disrupted by the pandemic. The report thus expounds on the rapidly changing market scenario in this COVID-19 era, which aims to help businesses involved in this sector overcome the pandemic's gripping effects and formulate new growth strategies to boost the COVID-19 preparedness.
Increasing integration of Robot Process Automation with HR solutions and rising demand for cloud-based business models & talent mobility for workforce planning are key factors driving market revenue growth
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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
1. Payroll Management
2. Workforce Management
3. Talent Management
4. Applicant Tracking System
5. Core HR
6. 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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