The size of the global Human Capital Management (HCM) market was estimated at USD 26.63 billion in 2022 and is expected to increase by USD 53.61 billion by 2030, showing a CAGR of 9.2% over the forecast period from USD 28.86 billion in 2023.
Recruiting, attracting, developing, training, retaining, and managing employees to achieve business goals are all part of human capital management (HCM), a collection of HR systems, tools, and practices. It includes duties related to human resources, compensation, and the primary goal of a corporation. These solutions are implemented using mobile and cloud-based technology to process data, run reports, and provide a seamless end-user experience.
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Which company dominates the Global Human Capital Management Market?
- SAP SE (Germany)
- Automatic Data Processing (ADP), Inc. (U.S.)
- Oracle Corporation (U.S.)
- Microsoft Corporation (U.S.)
- Cornerstone OnDemand, Inc. (U.S.)
- Ceridian HCM, Inc. (U.S.)
- Infor, Inc. (U.S.)
- Ramco Systems Ltd. (India)
- Workday, Inc. (U.S.)
- Paycom Software, Inc. (U.S.)
What are the factors driving the growth of the Human Capital Management Market?
Cloud computing has steadily grown from a ground-breaking IT strategy to a significant corporate technology. Cloud computing solutions in HR tools encourage businesses to speed up employee engagement and experience by supplying more features that enhance performance and talent management functionalities.
The management and HR teams can easily access and share employee business and personal data thanks to reliable cloud-based solutions. By automating difficult tasks like performance evaluation, timesheet submission, and payroll management, cloud-based solutions open up new opportunities for businesses.
What are the geographical insights of the Human Capital Management Market?
North America, South America, Europe, the Middle East & Africa, and Asia Pacific are all regions where the market is being researched.
Through the course of the forecast, North America will probably hold the largest market share for human capital management. This is because there are a lot of well-known vendors there, like Ceridian HCM Holding Inc., Oracle Corporation, and IBM Corporation, among others, and because there have been a lot of investments made in cloud applications. Globally, cloud-based technologies are gaining traction as small businesses adopt cloud-based solutions to open up lucrative business opportunities.
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An overview of the report
- The report comprehensively analyzes recent and anticipated market trends to help investors find investment opportunities.
- Market predictions through 2030, starting from estimated market values
- Market trends that are significant across industries, regions, and countries
- Market strategies and significant developments observed
- Market dynamics like drivers, obstacles, opportunities, and other trends
- comprehensive company profiles of significant players, both established and emerging
- Emerging economies are anticipated to grow through 2030.
Analysts have segmented the "Human Capital Management Market" into application, type, and regional segments to aid market participants in better understanding the market. Each element clearly demonstrates the variables that are most likely to have an impact on it and the variables that are anticipated to have a limit. The reader can access specific market updates thanks to the segmented explanation. The market research report on Human Capital Management Market Trends also discusses evolving environmental concerns, shifting political environments, and various government approaches to regulatory reforms.
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