Human Capital Management Market Size, Share, Growth, Trends And Industry Forecast 2023-2032

As per The Business Research Company's Human Capital Management Opportunities And Strategies Market Report 2023, the global human capital management market size will grow from $20.05 billion in 2022 to $22.24 billion in 2023 at a compound annual growth rate (CAGR) of 11.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the human capital management is expected to grow to $31.67 billion in 2027 at a CAGR of 9.2%.

Integration of robotic process automation (RPA) is expected to propel the growth of the human capital management market going forward. Robotic process automation refers to automation that uses software robots to automate various repetitive tasks. RPA has several advantages, including time efficiency, increased focus on personnel development, retention, and policy implementation. RPA helps human capital management in the process of automating repetitive tasks such as compensation management, payroll management, onboarding of new people, and compliance reporting. For instance, according to Computer Economics, a US-based IT research firm, in 2021, 20% of organizations will have adopted robotic process automation, an increase of 13% from 2020. Therefore, the integration of robotic process automation is driving the human capital management market growth.

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Technological advancement has emerged as the new trend gaining popularity in the human capital management market. Major companies operating in the human capital management sector are focused on developing new technologies and automated solutions for simplifying work. For instance, in June 2021, Ramco Systems, an India-based software company, launched Self Explaining Payslip, a smart and AI-based service that helps employees seek explanations for their pay slip components, payroll queries, and compensation.

Human Capital Management Market Segmentation:
The human capital management market is segmented by component, by deployment model , by organization site and by vertical.

By Component -
a) Software
b) Services
c) Exchange-Traded Fund (ETF)
d) Bonds
e) Other Types

By Deployment Model -
a) On-Premises
b) Cloud

By Organization Site -
a) Small and Medium-sized Enterprises
b) Large Enterprises

By Vertical -
a) Banking, Financial Services, and Insurance
b) Government
c) Manufacturing
d) Telecom and IT
e) Consumer Goods and Retail
f) Healthcare and Life Sciences
g) Energy and Utilities
h) Transportation and Logistics

Major players in the human capital management market include Workday Inc., Oracle Corporation, Automatic Data Processing Inc., SAP SE, International Business Machines Corporation.

The regions covered in the global human capital management market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The latest report from The Business Research Company, 'Global Human Capital Management Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Human Capital Management Market Report Table Of Content
1. Executive Summary
2. Human Capital Management Market Characteristics
3. Human Capital Management Market Trends And Strategies
4. Human Capital Management Market - Macro Economic Scenario
5. Human Capital Management Market Size And Growth
……
26. Africa Human Capital Management Market
27. Human Capital Management Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Human Capital Management Market
29. Human Capital Management Market Future Outlook and Potential Analysis
30. Appendix

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