Human Capital Management Market size was valued at US$ 21.20 Bn. in 2022 and is expected to grow at a CAGR of 9.3% through 2023 to 2029. Software segment leads the Global Human Capital Management Market by 2029.
Human Capital Management Market Overview:
The report is founded on in-depth investigation, qualitative and quantitative evaluation by industry specialists, and contributions from supply chain participants and experts. The study thoroughly looks at controlling variables, parent market trends, macroeconomic information, and market attractiveness by market segment. The report also delineates the qualitative impact of critical market variables on market segments and geographies.
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Human Capital Management Market Scope:
This market review of Human Capital Managements looks at the most recent trends, legal frameworks, trade analysis, business model, supply chain utilization, market dominance, the effect of localized and residential market players, assessments of potential revenue spots that could change, changes in market regulations, tactical industry growth analysis, sales volume, growth in specific markets, implementation of dominance and niches, product releases, worldwide coverage, and product launches. For an Analyst Brief and other information about the Human Capital Management industry, get in touch with Stellar industry Research. To achieve market expansion, our staff will help you make informed decisions about the market.
Human Capital Management Market Segmentation:
The market is divided into two segments: software and services, depending on the component. By 2029, the software industry is predicted to have the most market share, or xx%. Software usage is more demanded when it comes to managing the full lifecycle of personnel and meeting regulatory requirements. A collection of human resource programs known as human capital management software helps businesses manage their workforces through hiring, onboarding, training, and performance reviews.
The market is divided into On-premises and Cloud segments based on the Deployment Model. It is anticipated that the on-premises category would expand at a compound annual growth rate (CAGR) of xxx% from 2023 to 2029. Because the customer has control over the location and authorization of access to organizational data, on-premises HCM software is faster and more secure.
Market segmentation is based on vertical and includes the following categories: Government, Manufacturing, Telecom and IT, Banking, Financial Services and Insurance (BFSI), Consumer Goods and Retail, Healthcare and Life Sciences, Energy and Utilities, Transportation and Logistics, and Others (Hospitality, Education, and Media and Entertainment). Throughout the forecast period of 2023–2029, the telecom and IT as well as the banking, financial services, and insurance (BFSI) segment are anticipated to increase at a CAGR of xx% and xx%, respectively. The primary factor propelling the expansion of both of these segments in the global market during the projected period 2023–2029 is the increasing demand for HCM software in the BFSI and Telecom & IT industries due to the program's many advantages.
1 Global Human Capital Management Market, by Component (2022-2029)
• Software
• Services
2 Global Human Capital Management Market, by Deployment Model (2022-2029)
• On-premises
• Cloud
3 Global Human Capital Management Market, by Organization Size (2022-2029)
• Small and Medium-sized Enterprises (SMEs)
• Large Enterprises
4 Global Human Capital Management Market, by Vertical (2022-2029)
• Banking, Financial Services, and Insurance (BFSI)
• Government
• Manufacturing
• Telecom and IT
• Consumer Goods and Retail
• Healthcare and Life Sciences
• Energy and Utilities
• Transportation and Logistics
• Others (Hospitality, Education, and Media and Entertainment)
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Human Capital Management Market Key Players:
The major competitors in the market are adopting various growth strategies, including partnerships and strategic alliances as well as the launch of new products, in order to increase their footprint in developing countries and ultimately boost their customer base. Some of the leading companies in the Human Capital Management market are as follows:
1. ABB
2. Check Point Software Technologies
3. Belden
4. Fortinet
5. Cisco Systems
6. Honeywell
7. General Electric
8. Siemens
9. Honeywell International
10.Fireeye
11.Indegy
12.Mcafee
13.Securitymatters
14.Carbon Black
15.Ultimate Software
16.Workday
17.Oracle
18.ADP
19.Ceridian
20.SumTotal
21.Talentsoft
22.EmployWise
23.Meta4
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Human Capital Management Market Regional Analysis:
The country-focused examination of the Human Capital Management market report also covers specific market-affecting factors and legislative changes that have an impact on current and future marketing tactics. A few of the main components that are used to estimate the state of the market for specific countries are shipping analysis, price prediction modeling, consumer volumes, processing and inventory levels, raw material prices, and upstream and downstream value chain analysis. The presence and affordability of global brands, the challenges they confront from strong or moderate competition from local and domestic manufacturers, the impact of local tariffs, and shipping lanes are all taken into consideration while providing forecast analysis of the national data.
COVID-19 Impact Analysis on Human Capital Management Market:
The COVID-19 pandemic caused a sharp and protracted fall in production efficiency, and travel restrictions and factory closures prevented individuals from visiting their places of business, which caused the Human Capital Management market to contract in 2020. The influence of the pandemic on the Human Capital Management market is covered in the latest research, together with observations, analysis, estimates, and estimations. The Stellar Human Capital Management Market Research study includes a detailed analysis of consumer behavior following the infection and how it affected the market's classification, trends, outlook, and financial limitations.
Key Questions Answered in the Human Capital Management Market Report are:
- What are the drivers motivating overall Human Capital Management market advancement in the upcoming period?
- What revenue potential is estimated from the Human Capital Management market’s transactions in the years ahead?
- What CAGR potential is forecasted for the Human Capital Management market in the approaching period?
- Who are the significant contenders functioning in the Human Capital Management market?
- Which region is leading the global Human Capital Management market share at the end of the forecast period?
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The global Human Capital Management (HCM) market size is expected to grow from USD 17.6 billion in 2020 to USD 24.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 6.7% during the forecast period.
Integration of emerging technologies, such as Artificial Intelligence (AI), and Machine Learning (ML), with HCM software has emerged as one of the strongest factors for HCM software and services adoption across regions.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=193746782The HCM market comprises major software providers, such as Workday (US), Oracle (US), ADP (US), SAP (UK), Microsoft (US), IBM (US), Ultimate Software (US), Ceridian (US), SumTotal (US), Kronos (US),Infor (US), Talentsoft (France), EmployWise (India), PeopleStrategy (US),Cornerstone (US), Meta4 (US), Ramco Systems (India), Bamboo HR (US), Namely (US), Workforce Software (US), Zoho (India), Sage Group (UK), Epicor Software (US), Zenefits (US), Paylocity (US), Gusto (US), Bitrix (US), Benefitfocus (US), WebHR (US), Talentia Software (France), PeopleFluent (US), Vibe HCM (US), Rippling (US), Ascentis (US), and BizMerlinHR (US).
The study includes an in-depth competitive analysis of key players in the HCM market with their company profiles, recent developments, and key market strategies.The players in this market have embraced different strategies to expand their global presence and increase their market shares.
New product launches and enhancements; and partnerships, acquisitions, and collaborations, have been the most dominating strategies adopted by the major players from 2017 to 2020, which helped them strengthen their offerings and broaden their customer base.Oracle (US) has a strong foothold in the HCM market with its robust offerings.
The company adopted various organic growth strategies and continues to enhance its expertise in the market.
The introduction of analytics is to help organizations derive insight from workforce analytics.
