Market Highlights
The global human capital management market is predicted to touch USD 22 billion and at a 10% CAGR between 2016- 2022, states the recent Market Research Future (MRFR) analysis. Human capital management, simply put, is a set of practices or process which is related to people resource management. This process includes recruiting, developing, managing, and optimizing an organization’s human resources for driving engagement, business value, and productivity.
Various factors are propelling the global HCM market share. As per the current MRFR report, such factors include growing need for resource management solutions, increasing focus on organizational management, need for specific competencies in the workspace, technological proliferation in the internet of things (IoT), artificial intelligence (AI), machine learning (ML), and big data analytics, growing adoption of cloud deployment in different industries, and rising demand in organizations for streamlining vendor management, payroll, resource management, and other HR functions.
On the contrary, data security and safety issues, the reluctance of organizations to shift to new solutions from traditional practices, and the impact of the ongoing COVID-19 pandemic are factors that may limit the global human capital management market growth during the forecast period.
Segmentation:
The MRFR report offers an inclusive segmental analysis of the global HCM market based on components, deployment type, organization size, and end user.
By components, the global human capital management market is segmented into software solutions and services. The components segment is again segmented into payroll and tax, talent management, core HR, e-boarding, e-boarding, e-recruiting, e-learning, time & expense management, performance management, competency management, and workforce analytics. The services segment is segmented into support and maintenance, consulting services, implementation services, transformation services, and others. Of these, software solutions will lead the market over the forecast period.
By deployment type, the global human capital management market is segmented into on-premise and cloud. Of these, the cloud deployment segment will dominate the market over the forecast period.
By organization size, the global human capital management market is segmented into large enterprises and SMEs. Large enterprises will have a maximum share in the market over the forecast period.
By end user, the global human capital management market is segmented into government, transportation, healthcare, IT/ITES, BFSI, and others. Of these, the BFSI segment will command the largest share in the market over the forecast period.
Regional Analysis
Based on the region, the global human capital management market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, and the Rest of the World (RoW). Of these, North America will spearhead the market over the forecast period. Rapid advancements, increasing penetration of latest technologies, high ICT expenditure, and growing need for automating HR processes like compensation management, performance management, and talent management are adding to the global human capital management market growth in the region.
The human capital management market in the APAC region is predicted to have sound growth over the forecast period. The need for IT services, growing adoption of cloud computing and mobility trends in Japan, China, Singapore, and Australia, advanced IT infrastructure, and availability of technical expertise are adding to the global human capital management market growth in the region. Canada and the US have a maximum share in the market.
The global human capital management market in Europe is predicted to have healthy growth over the forecast period. The emergence of new job opportunities, a growing need for managing the increasing task force, and an increasing number of enterprises are adding to the global human capital management market growth in the region.
The human capital management market in the RoW is predicted to have sound growth over the forecast period.
Key Players
Leading players profiled in the global human capital management market report include Talentsoft (France), Zenefits (U.S.), Infor (U.S.), Ultimate Software (U.S.), LinkedIn (U.S.), Kronos Inc. (U.S.), Oracle Corporation (U.S.), WORKDAY (U.S.), ADP LLC (U.S.), Workforce Software (U.S.), Software AG (Germany), SAP SE (Germany), and IBM (U.S.).
Human Capital Management Market, By Component (Service, Software Solution), By Organization size (SMEs, Large Enterprise), By Deployment (Cloud, On Premise), By End-User (Manufacturing, BFSI, IT/ITES, Healthcare, Transportation, Government). – Forecast 2022
Market HighlightsAccording to Market Research Future (MRFR), the global human capital management market size is expected to touch a market value of USD 22 billion at a CAGR of 10% from 2016 to 2022 (forecast period).
The study explores and assesses the influence of the COVID-19 outbreak on the global human capital management industry, including opportunities and challenges, drivers, and risks.Human capital management is a collection of practices related to people resource management focused on the organizational need to provide specific competencies.
These practices are implemented in three major categories: human capital management, workforce optimization, and workforce acquisition.
Furthermore, the introduction of Artificial Intelligence into the human capital management system is likely to fuel market demand.Get a Free Sample @https://www.marketresearchfuture.com/sample_request/2485Segmentation:The global human capital management market has been segmented into components, deployment type, organization size, and end-user.
The software solutions segment is further divided into workforce analytics, competency management, time and expense management, e-learning, e-recruiting, e-boarding, core HR, talent management, performance management, and payroll and tax.
The study shows that, due to the growing use of e-recruiting solutions, many organizations have begun to implement such solutions for on-boarding, training, e-learning, candidate management, and selection management.
Human Capital Management Market OverviewHuman capital management is a comprehensive set of practices for recruiting, managing, developing, and optimizing the human resources of an organization.
Various functions carried out under human capital management include hiring, managing, training and retaining talented, and high performing employees.Factors driving the Human Capital Management (HCM) Market include a rising adoption of digitization within organizations, higher economies of scale, and easier tracking & management of human resources.
In addition, easier integration of HCM with other ERPs and rising demand for workforce optimization are spurring growth in the global human capital management market.
The latest report published by Market Research Future projected a 10% CAGR in the human capital management market during assessment period.Get Free Sample of Report @ https://www.marketresearchfuture.com/sample_request/2485Key PlayersThe prominent players in the Human Capital Management Global Market are – IBM (U.S.), SAP SE (Germany), Software AG (Germany), Workforce Software (U.S.), ADP LLC (U.S.), WORKDAY (U.S.), Oracle Corporation (U.S.), Kronos Inc. (U.S.), LinkedIn (U.S.), Ultimate Software (U.S.), Infor (U.S.), Zenefits (U.S.), Talentsoft (France), among others.Market SegmentationThe global Human Capital Management Market has been segmented by component, deployment type, organization size, region, and end-user.
Based on component the market is segmented into software solutions and services.
The segment of services has been further segmented into transformation services, implementation services, consulting services, and support & maintenance.Based on deployment type, the market has been bifurcated into cloud and on-premise.
Global Workforce Analytics Market, By Type (Solutions, Services), By Deployment (On Premise, on cloud) By Organization Size (Large, SME’s) and By Industry (Banking, Insurance Government, Retail, Logistics, Healthcare, Manufacturing).Market OverviewThe need to optimize the human capital of firms is boosting the workforce analytics market 2020.
The ICT industry reports are produced by Market Research Future, which highlights market options for expansion.
A revenue level of USD 1026 Million is predicted by the end of 2023 with the support of a 13 % CAGR in the forecast period.The development of the work culture has led to the need to improve the handling of human resources, which is estimated to enhance the workforce analytics market share in the impending period.
On the basis of type, the workforce analytics market is bifurcated into solutions and services.
The swift economic development in the region, growing citizen affluence is playing a vital role in the expansion of this market.Competitive AnalysisThe investment in robotic elements in the supply chain is estimated to be seen in the future to reduce the impact of the human capital on the long term market expansion.
The state of the market is extremely indecisive due to the effect of the macro factors operating in the global economy.
