Dublin, March 16, 2023 (GLOBE NEWSWIRE) -- The "Human Capital Management Market By Component, By Deployment Mode, By Industry Vertical, By Enterprise Size: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The human capital management market size was valued at $21.8 billion in 2021, and is estimated to reach $51.3 billion by 2031, growing at a CAGR of 9% from 2022 to 2031.
With HCM solutions, businesses can make smarter and faster decisions, deliver a best-in-class employee experience, and leverage embedded cutting-edge technologies, such as artificial intelligence (AI) and chatbots to automate workflows, improve efficiency, and engage quickly.
Rise in adoption of cloud-based HCM solutions, increase in automation of HR process, and increase in demand for unified HCM solutions are the factors propelling the growth of the global human capital management market during the forecast period. Moreover, simplification of HR operations has positively impacted the need for human capital management industry.
However, data security and privacy concerns related to cloud deployment is anticipated to hamper the human capital management market during the forecast period. On the contrary, technological advancements such as AI, ML, and RPA in HCM solutions is expected to offer remunerative opportunities for the expansion of the human capital management market forecast.
On the basis of enterprise size, the large enterprises segment dominated the overall human capital management market in 2021 and is expected to continue this trend during the forecast period. This is attributed to the need of automated HCM solutions for smooth functioning of HR operations in large enterprises. However, the SMEs segment is expected to witness the highest growth owing to growth in technological advancements of SMEs, which is anticipated to grow in the coming years and is expected to further fuel the global human capital management market growth.
Region wise, the HCM market was dominated by North America in 2021, and is expected to retain its position during the forecast period, owing to its higher expenditure on technological solutions However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to the growth in number of startups and the expanding business sector of the region, which is expected to fuel the growth of the human capital management industry in the region during the forecast period.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global human capital management market forecast along with the current & future trends to explain the imminent investment pockets.
- Information about key drivers, restraints, & opportunities and their impact analysis on global human capital management market trends is provided in the report.
- Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2022 to 2031 is provided to determine the market potential.
Key Market Segments
By Industry Vertical
- IT and Telecom
- Retail and E-commerce
- BFSI
- Healthcare
- Travel and Hospitality
- Government
- Manufacturing
- Others
By Component
- Solution
- Solution Type
- Core HR Solutions
- Recruitment Solutions
- Workforce Management Solutions
- Payroll and Compensation Solutions
- Others
- Service
- Service Type
- Professional Services
- Managed Services
By Deployment Mode
- On-premise
- Cloud
By Enterprise Size
- Large Enterprises
- SMEs
By Region
- North America
- U. S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY FINDINGS OF THE STUDY
By industry vertical, the IT & Telecom segment accounted for the largest human capital management market share in 2021.
By region, North America generated the highest revenue in 2021.
By enterprise size, the large enterprise segment generated the highest revenue in 2021.
By deployment mode, the on-premise segment generated the highest revenue in 2021.
The key players profiled in the human capital management market analysis are ADP, INC., Cornerstone, Epicore Software Corporation, IBM Corporation, INFOR, Workday, Inc., Oracle Corporation, SAP SE, Sumtotal Systems, LLC, and UKG, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: HUMAN CAPITAL MANAGEMENT MARKET, BY COMPONENT
CHAPTER 5: HUMAN CAPITAL MANAGEMENT MARKET, BY DEPLOYMENT MODE
CHAPTER 6: HUMAN CAPITAL MANAGEMENT MARKET, BY INDUSTRY VERTICAL
CHAPTER 7: HUMAN CAPITAL MANAGEMENT MARKET, BY ENTERPRISE SIZE
CHAPTER 8: HUMAN CAPITAL MANAGEMENT MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
Companies Mentioned
- ADP, Inc.
- Cornerstone
- Epicor Software Corporation
- IBM Corporation
- Infor
- Oracle
- SAP SE
- Sumtotal Systems, LLC
For more information about this report visit https://www.researchandmarkets.com/r/s37yu2
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