Human Capital Management (HCM) market to Gain USD 35.34 billion by 2029, Size, Share, key Players, Future Trends, Industry Growth and Revenue Overview

Human Capital Management (HCM) market research report is very much essential in many ways to grow your business and thrive in the market. The market transformations are highlighted here which occur because of the moves of key players and brands like developments, product launches, joint ventures, merges and accusations that in turn changes the view of the global face of Human Capital Management (HCM) industry. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Human Capital Management (HCM) market research report is a vital document in planning business objectives or goals.

Intricate market insights are converted into simpler version in this Human Capital Management (HCM) report with the help of established tools and techniques to provide it to the end users. The research studies involved in this Human Capital Management (HCM) report helps to evaluate several important aspects that include but are not limited to investment in a rising market, success of a new product, and expansion of market share. Simplicity maintained in research method and employment of excellent tools and techniques makes this Human Capital Management (HCM) market research report an exceptional. A number of estimations and calculations have been carried out in this Human Capital Management (HCM) market report by assuming definite base year and the historic year.

Data Bridge Market Research analyses that the human capital management (HCM) market was valued at USD 18.46 billion in 2021, and would reach an estimated value of 35.34 billion by 2029, and is likely to grow at a CAGR of 8.46% during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

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The term HCM can refer to both a business strategy and a collection of modern IT applications and other technologies used to put that strategy into action. Furthermore, it includes not only the hiring, job & position management, HR compliance, and reporting processes, but also workforce rewards & talent and workforce management. Furthermore, cloud-based HCM usage is growing due to benefits such as remote data access, unlimited storage capacity, lower costs and maintenance fees, and access via web and mobile from any location and at any time.

Human capital management (HCM) software, an enterprise application solution, has become essential in all businesses because it automates the time-consuming clerical tasks associated with employee data, payroll, and benefits administration. However, the recent growth of the HCM software market is due to the enormous opportunities created by expanding SMEs across regions.

How Data Bridge Market Research Assists in Making Strategic Moves For Human Capital Management (HCM) Market Players?

The data provided in the Human Capital Management (HCM) market report offers comprehensive analysis of important industry trends. Industry players can use this data to strategize their potential business moves and gain remarkable revenues in the upcoming period.

The report covers the price trend analysis and value chain analysis along with analysis of diverse offering by market players. The main motive of this report is to assist enterprises to make data-driven decisions and strategize their business moves.

Recent Development

Workday announced in September 2021 that Google LLC had subscribed to additional products to support its global workforce, including Workday Adaptive Planning, Workday Extend, Workday Prism Analytics, and Workday Strategic Sourcing. Google will also expand its current use of Workday HCM as part of its ongoing investment in talent management strategies, adding new applications to deliver enhanced employee experiences and recruiting to support its global workforce.
Workday and Microsoft announced a partnership in May 2020. The goal of this collaboration is to expand cloud-based enterprise planning software by running workday adaptive planning on the Microsoft Azure cloud.
Ultimate Software launched Employee File Management in July 2019, allowing HR professionals to easily share documents with third parties regardless of their location.

Major Companies Operating at both regional and global levels:

Oracle Corporation (U.S.)
SAP SE (Germany)
IBM (U.S.)
NetSuite Inc. (U.S.)
Workday, Inc. (U.S.)
Ultimate Software Group, Inc. (U.S.)
ADP, LLC (U.S.)
Cornerstone OnDemand (U.S.)
Benefitfocus Inc. (U.S.)
BambooHR (U.S)
PeopleFluent (U.S)
Ultimate Software Group, Inc. (U.S)
Zoho Corporation (India)
WebHR (U.S)
CakeHR (U.K)
Epicor Software Corporation (U.S)
Infor (U.S)
Kronos Incorporated (U.S)
The Sage Group plc. (U.S)

Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market's growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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Industry Drivers:

Increasing adoption of artificial intelligence

Increasing demand for artificial intelligence and machine learning in various HCM suites, rising need to reduce HR-related costs, prevalence of advanced solutions in the form of data processing and management, rising usages of HCM for souring & recruiting, applicant tracking, time & attendance management, payroll & compensation, and others will likely accelerate the growth of the human capital management (HCM) market during the forecast period

Prevalence of cloud based software solution and adoption of digital technologies

The prevalence of cloud-based software solutions, as well as the adoption of digital HR technology, will provide various opportunities for the growth of the human capital management (HCM) market during the forecast period.

Market Segmentation of Human Capital Management (HCM) Market:

By Service

Integration and Implementation
Training and Education
Support and Maintenance
Consulting

By Software

Core HR
Applicant Tracking System
HR Analytics
Workforce Management

By Organization size

Small
Medium
Large

By Deployment Model

Cloud
On premise

By End user

IT and telecommunication
Travel and Hospitality
Transport and Logistics
Energy and Utilities
Education
Manufacturing
Government
Banks and Financial Institution

Global Human Capital Management (HCM) Market: Regional Analysis

North America [U.S., Canada, Mexico]

Europe [Germany, UK, France, Italy, Rest of Europe]

Asia-Pacific [China, India, Japan, South Korea, Southeast Asia, Australia, Rest of Asia Pacific]

South America [Brazil, Argentina, Rest of Latin America]

Middle East & Africa [GCC, North Africa, South Africa, Rest of Middle East and Africa]

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