The Human Capital Management Market Size was estimated at USD 26.63 billion in 2022 and is expected to increase by USD 53.61 billion by 2030, showing a CAGR of 9.2% over the forecast period from USD 28.86 billion in 2023.
The term "human capital management" (HCM) refers to a group of HR policies, procedures, and methods used to find, hire, retain, develop, and manage employees in order to meet organizational objectives. It includes duties related to human resources, compensation, and the primary goal of a corporation. In order to run reports, process data, and provide a seamless end-user experience, these solutions are implemented on cloud-based and mobile technology.
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Information about the report:
- Forecast Timeframe: 2023-2030
- The starting year is 2022
- Market Size in 2022 - USD 26.63 billion
- The market size in 2030 will be USD 53.61 billion
- CAGR - 9.2%
- Segments Included: according to deployment type, application, enterprise type, sector, and geographic region
The Human Capital Management Market is a large and growing sector that covers various aspects, such as market size, market share, market segment, and industry. The market size is the total amount of money that service providers make when they sell their products to customers. Market share is the portion of the market that a single provider or a group of providers controls. The term market segment refers to the different categories of applications based on their functions, features, or target users. The term industry refers to the different sectors or domains that use applications for their business operations or activities.
Analyses of the worldwide Human Capital Management Market are conducted across regions, end-user industries, and material types. The study includes a thorough examination of segments and their sub-segments with the aid of tabular and graphic depictions. The segmentation can help investors and market participants create plans based on the report's list of the segments with the highest revenue growth rates.
By Offering Analysis,
The market is split into two categories based on offerings: software and services. The software segment includes topics like core human resources, talent management, workforce management, payroll & compensation, and others. These solutions enable effective employee management and continuous communication between the management and staff. The report's services section includes services for HR transformation and HCM consulting & application.
By Deployment Analysis,
The market is divided into two categories based on deployment: cloud and on-premise. During the forecast period, it is anticipated that the cloud segment will experience significant growth. The growth is attributed to businesses moving their current solutions to the cloud for a variety of reasons, including improved user experience, consistent updates, and improved analytics & reporting.
By Enterprise Size Analysis,
The market is divided into large enterprises and small and medium-sized enterprises based on the type of enterprise. The market share of large enterprises is probably going to be substantial. These companies are expected to invest more money in crucial HR. HR and IT roles are more prevalent in large businesses. Additionally, compared to small businesses, they perform more HR functions on a larger scale, including payroll, recruiting, and benefits. These elements will help the global market expand.
By Key player Analysis,
Major players in the global market are concentrating on using merger and acquisition tactics to increase their global presence. The adoption of HCM solutions by businesses and rising technological advancements are anticipated to accelerate market expansion. To increase their market share, these businesses seek to acquire small, regional businesses.
List of Key Companies Profiled:
- SAP SE (Germany)
- Automatic Data Processing (ADP), Inc. (U.S.)
- Oracle Corporation (U.S.)
- Microsoft Corporation (U.S.)
- Cornerstone OnDemand, Inc. (U.S.)
- Ceridian HCM, Inc. (U.S.)
By Region,
North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America are the five main geographic divisions of the market. They are further divided into nations.
Throughout the forecast period, North America is likely to hold the largest market share for human capital management. This is because prominent vendors like Ceridian HCM Holding Inc., Oracle Corporation, and IBM Corporation, among others, are present, and because cloud applications have received a lot of funding. Globally, cloud-based technologies are gaining traction as small businesses adopt cloud-based solutions to open up lucrative business opportunities.
The study report provides a thorough analysis of the “Human Capital Management Market” size globally, including regional and country-level market size analysis, CAGR estimation of market growth during the forecast period, revenue, key drivers, competitive background, and sales analysis of the payers. The paper also discusses the principal risks and challenges that will be encountered over the projected period. The market for Digital payments is divided into two categories: type and application. Players, stakeholders, and other participants in the global Human Capital Management Market industry will be able to gain the upper hand by using the study as a valuable resource.
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