A recent report published by Infinium Global Research on human capital management market provides an in-depth analysis of segments and sub-segments in the global as well as regional human capital management market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional human capital management market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global human capital management market. According to the report, the global human capital management market is projected to grow at a CAGR of 8.9% over the forecast period of 2019-2025.
Human capital management supports workforce planning, competency management, performance management, compensation planning, and strategy, time and expense management, education, and training, hiring, and recruitment, onboarding, contingent workforce management, and organization visualization. Human capital management is crucial for acquiring and retaining high-performing employees.
The global human capital management (HCM) market is anticipated to grow at the highest CAGR throughout the forecast period. The growth of this market is attributed owing to the expanding need for managing the widespread workforce across the globe. Moreover, technological development in Artificial Intelligence (AI), Machine Learning, Internet of Things (IoT) and big data analytics has led the adoption of the human capital management in major verticals such as financial services, banking, and insurance (BFSI), transportation and logistics, and healthcare. Besides this, HRM solution providers are focusing on developing software/solutions is likely to contribute to market growth. HCM software is an enterprise application solution has been the need across all the enterprises as employees and employers access information regarding leaves, time and attendance, and performance status from their personal devices. However, security concerns over cloud-based deployment are expected to hamper the growth of the market. Furthermore, the adoption of cloud-based solution among the small and medium-size enterprises provides growth opportunities for the growth of the human capital management market.
Among the region, North is expected to be a major contributor to the global human capital management market. Presence of a huge number of HRM solution provider and high adoption rate of HCM solution drives the growth of the market in this region. On the other hand, expanding adoption of IT services is a major factor augmenting the growth of the Asia-Pacific region. As per the Asia-Pacific Economic Cooperation, Small and Medium Enterprises (SMEs) is accounted to more than 90 percent of all businesses in the Asia-Pacific region. Furthermore, developing countries such as China, India, and South Korea are anticipated to further drive the market growth in the coming years.
The report on the global human capital management market covers segments such as component, deployment type, enterprise size, and enterprise size end-use industries. On the basis of component, the sub-markets include software, and services. On the basis of deployment type, the sub-markets include cloud, and on-premises. On the basis of enterprise size, the sub-markets include small and medium enterprises (SME’s), and large enterprises. On the basis of enterprise size end-use industries, the sub-markets include banking, it and telecom, insurance (BFSI), financial services, transportation and logistics, transportation and logistics, and other end-use industries.
The report provides profiles of the companies in the market such as The Sage Group plc, Paycom Software, Inc., Ultimate Software, Paylocity Corporation, Kronos Incorporated, Oracle Corporation, Automatic Data Processing, Inc., Epicor Software Corporation, SAP SE, and Infor.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of human capital management market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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