Human Capital Management Market is expected to be worth USD 29.9 billion by 2023

August 02 07:48 2019
Human Capital Management Market is expected to be worth USD 29.9 billion by 2023

Human Capital Management Market
The global human capital management (HCM) market is expected to be worth USD 29.9 billion by 2023, expanding at a CAGR of 8.7%. Automation in the administration of employees, policies, and procedures in regional as well as global firms is a crucial driver for the HCM market.

A new business intelligence report released by HTF MI with title “Global Human Capital Management Market (2018-2023)” has abilities to raise as the most significant market worldwide as it has remained playing a remarkable role in establishing progressive impacts on the universal economy. The Global Human Capital Management Market Report offers energetic visions to conclude and study market size, market hopes, and competitive surroundings. The research is derived through primary and secondary statistics sources and it comprises both qualitative and quantitative detailing. Some of the key players profiled in the study are SAP, Oracle, Workday, Ramco, ADP, Microsoft, Ultimate Software, and Cornerstone.

Get Free Sample Report + All Related Graphs & Charts @: https://www.htfmarketreport.com/sample-report/1724177-global-human-capital-management-market-8

 

The global human capital management (HCM) market is expected to be worth USD 29.9 billion by 2023, expanding at a CAGR of 8.7%. Automation in the administration of employees, policies, and procedures in regional as well as global firms is a crucial driver for the HCM market. A significant share of the market is dominated by large global players such as SAP, Oracle, Workday, Ramco, ADP, Microsoft, Ultimate Software, and Cornerstone. These companies are focusing on acquiring smaller vendors to provide end-to-end solutions in all categories to the customers.

 

Segmentation based on component

 

HCM software accounted for 66.5% of the overall market revenue in 2018, mainly driven by the demand for cloud-based SaaS applications. Pricing flexibility has acted as the key driving force of growth in software and has led to the movement of on-premises or datacenter customers to SaaS-based HR software. Services segment includes various aftersales activities such as maintenance, upgradation, agreement renewal, and consultation. The market share of this segment is estimated to increase by 7% from 2018 to 2023 owing to rising demand for migration services, extension, and plug-in development.

 

Segmentation based on software

 

Based on software, the HCM market is segmented by core HR, payroll & compensation management, performance management, learning, talent acquisition, workforce management, benefits administration, and others. Workforce management software dominated the global market, with a market size of USD 4.4 billion in 2018. Augmented need for automation in absence & leave management and time & attendance tracking has bolstered the demand for workforce management software. The learning software segment is anticipated to witness a significant increase in market share, expanding at a CAGR of 12.8% from 2018 to 2023. Spurring demand for self-directed agile learning tools, next-generation learning management systems, and micro-learning platform have been key trends over the past few years.

 

Segmentation based on deployment type

 

Based on the deployment type, the cloud-based HCM solutions achieved the largest share of the global market, garnering a market size of USD 15.4 billion in 2018. Flexibility, cost-effectiveness, easy accessibility, and adaptability across platforms have motivated the demand for cloud-based HCM software more than the on-premises segment to maintain HR operations across offices located in different geographies.

 

Segmentation based on organization size

 

Based on organization size, the HCM market is categorized into large and SME. Large enterprises with more than 2,500 employees were the early consumers of HCM solutions; however, the SME segment with employees less than 2,500 has emerged rapidly and accounted for a market share of 52.5% in 2018. The market is anticipated to witness a promising trend in the SME segment, especially in emerging economies.

 

Segmentation based on vertical

 

Manufacturing, energy & utilities, consumer goods & retail, healthcare, transportation, telecom & IT, and BFSI are the major industry verticals adopting HCM solutions. The HCM market is expected to witness a spurring demand from government and manufacturing sectors. The shift of workforce from baby boomers to millennial is projected to encourage the adoption of HCM solutions to automate talent acquisition and workforce management operations. The demand from the manufacturing vertical is expected to reach USD 3.8 billion in 2023.

Enquire for customization in Report @: https://www.htfmarketreport.com/enquiry-before-buy/1724177-global-human-capital-management-market-8

Important Features that are under offering & key highlights of the report:
– Detailed overview of Human Capital Management market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Human Capital Management market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
– A neutral perspective towards Human Capital Management market performance
– Must-have information for market players to sustain and enhance their market footprint

Read Detailed Index of full Research Study at @ https://www.htfmarketreport.com/reports/1724177-global-human-capital-management-market-8

Major Highlights of TOC:
Chapter One: Global Human Capital Management Market Industry Overview
1.1 Human Capital Management Industry
1.1.1 Overview
1.1.2 Products of Major Companies
1.2 Human Capital Management Market Segment
1.2.1 Industry Chain
1.2.2 Consumer Distribution
1.3 Price & Cost Overview

Chapter Two: Global Human Capital Management Market Demand
2.1 Segment Overview
2.1.1 APPLICATION 1
2.1.2 APPLICATION 2
2.1.3 Other
2.2 Global Human Capital Management Market Size by Demand
2.3 Global Human Capital Management Market Forecast by Demand

Chapter Three: Global Human Capital Management Market by Type
3.1 By Type
3.1.1 TYPE 1
3.1.2 TYPE 2
3.2 Human Capital Management Market Size by Type
3.3 Human Capital Management Market Forecast by Type

Chapter Four: Major Region of Human Capital Management Market
4.1 Global Human Capital Management Sales
4.2 Global Human Capital Management Revenue & market share

Chapter Five: Major Companies List

Chapter Six: Conclusion

Buy the Latest Detailed Report @ https://www.htfmarketreport.com/buy-now?format=1&report=1724177

Key questions answered
• Who are the Leading key players and what are their Key Business plans in the Global Human Capital Management market?
• What are the key concerns of the five forces analysis of the Global Human Capital Management market?
• What are different prospects and threats faced by the dealers in the Global Human Capital Management market?
• What are the strengths and weaknesses of the key vendors?

Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Europe or Asia.

Media Contact
Company Name: HTF Market Intelligence Consulting Private Limited
Contact Person: Craig Francis
Email: Send Email
Phone: 2063171218
Address:Unit No. 429, Parsonage Road
City: Edison
State: New Jersey
Country: United States
Website: https://www.htfmarketreport.com/reports/1724177-global-human-capital-management-market-8