Human Capital Management Market to Surpass 53.99 Billion by 2030 Drives Due to Enhance the Efficiency and Effectiveness of their HR Processes

SkyQuest projects that the human capital management market will attain a value of USD 53.99 billion by 2030, with a CAGR of 9.2% over the forecast period (2023-2030). The global human capital management market is experiencing rapid growth, providing organizations with diverse solutions to streamline and optimize their human resources management.

Westford, USA, Jan. 17, 2024 (GLOBE NEWSWIRE) -- According to SkyQuest, the human capital management (HCM) market software as a service (SaaS) solution represents a cloud-based approach to HR management that offers several distinct advantages. It allows for cost-effective deployment, making it an attractive option for organizations of all sizes, particularly Small and Medium-sized Enterprises (SMEs) in the human capital management market.

Browse in-depth TOC on the "Human Capital Management Market”

  • Pages - 157
  • Tables – 61
  • Figures – 75

The human capital management market encompasses a broad range of software and services tailored to enable organizations to manage their human resources efficiently. Its fundamental objective is to empower organizations to optimize their workforce management by equipping them with specialized software and services designed to enhance the efficiency and effectiveness of their HR processes.

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Prominent Players in Human Capital Management Market

  • SAP SE
  • Oracle Corporation
  • Workday, Inc.
  • ADP, LLC
  • Ultimate Software Group, Inc.
  • IBM Corporation
  • Infor
  • Kronos Incorporated
  • Ceridian HCM Holding Inc.
  • Paychex, Inc. (US)
  • Cornerstone OnDemand, Inc.
  • Sage Group
  • Automatic Data Processing, Inc.
  • Talentsoft SA
  • Epicor Software Corporation
  • Ramco Systems Limited
  • PeopleStrong
  • SumTotal Systems LLC
  • Halogen Software Inc.
  • SilkRoad Technology Inc.

Cloud Segment is Expected to Dominate the Market Due to Strong Inclination towards Enhancing User Experiences

Cloud segment is poised for substantial growth in the human capital management market, primarily propelled by organizations' strong inclination towards enhancing user experiences and harnessing advanced analytics and reporting capabilities.

The market in North America is poised to maintain its dominance in the human capital management market throughout the forecast period, primarily driven by several factors. One of the key factors is the strong presence of major HCM vendors, including Ceridian HCM Holding Inc., Oracle Corporation, and IBM Corporation, among others.

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Large Enterprises Segment is Expected to Grow the Market Due to Maintain More Extensive HR and IT Functions often

Large enterprises segment is poised to secure a substantial human capital management market share, with these organizations anticipated to ramp up their investments in core HR functions. Given their scale and complexity, large enterprises often maintain more extensive HR and IT functions than their smaller counterparts.

Regional markets in Europe are poised to experience substantial market growth in the human capital management market, primarily propelled by the increasing demand for workforce automation solutions geared toward enhancing compliance.

A comprehensive analysis of the major players in the human capital management market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.

Key Developments in the Human Capital Management Market

  • In 2022, Oracle Corporation made a significant announcement regarding its HCM (Human Capital Management) Cloud offering, unveiling a range of new capabilities to enhance key HR functions. These expanded features encompassed improvements in recruiting, performance management, and succession planning, further strengthening Oracle's position in the competitive HCM software market. The move underscored Oracle's commitment to delivering comprehensive, innovative solutions that empower organizations to optimize workforce management.
  • In 2022, SAP SE introduced its SAP SuccessFactors Work Zone, a personalized platform designed to empower employees to manage their work lives more effectively. This strategic launch marked SAP's dedication to enhancing the employee experience within the broader context of human capital management.

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Key Questions Answered in Human Capital Management Market Report

  • What specific growth drivers are projected to impact the market during the forecast period?
  • List the top companies in the market and explain how they have achieved their positions of influence.
  • In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?

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