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
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
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.