The Global Human Capital Management Market is foreseen to have gain impressively from expanding digitalization in creating countries, discovers Fortune Business Insights in a report, titled “Human Capital Management” Market Size, Share and Global Trend By Applications (Core HR, Employee Collaboration and Engagement, Recruiting and others), By Services (Integration, Support and Maintenance, Training and Consulting), By Deployment (Cloud and On-premises), By Industry Vertical (BFSI, Government, Healthcare and others) and Geography Forecast till 2026.”
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1. By Application
- Core HR
- Employee Collaboration & Engagement
- Talent Management
- Workforce Planning & Analytics
2. By Services
- Support & Maintenance
- Training & Consulting
3. By Deployment
- On Cloud
4. By Industry Vertical
- IT & Telecom
5. By Geography
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
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Market Segmentation as Per Offering, Organization, and Region
- Core HCM Solutions to Derive True Employee Value
As per offering, HCM solutions are expected to cover the major portion of the HCM market share in the forecast years. Some of the main HCM solutions include core HR, workforce management, talent management, and payroll & compensation. Of these, workforce management and core HR enjoy a leading position in the market, fueling the HCM market demand. These solutions help HR personnel to take strategic decisions while planning initiatives for talent acquisition and recruitment. Core HR solution ensures to maintain transparency between management and employees. Workforce management solution analyzes data for businesses and monitors HR activities. Moreover, the demand for workforce management HCM solution is increasing in migration services, plug-in development, and extension.
- IT & Telecom Covered 21.8% in 2018 and Will Continue to Lead the Market
The demand for human capital management software is increasing across BFSI, IT & telecom, healthcare, manufacturing, government, education, and others. Of these, IT & telecom and BFSI are expected to see the highest demand for HCM technology, thereby increasing the human capital management market size. In 2018, the IT and telecom sector covered a share of 21.8%. This, along with BFSI, is expected to cover the highest share in the global market. Organizations working in these sectors continue to focus on finding the best talent and optimizing the potential of their employees to achieve organization’s target. The demand for HCM software is increasing across manufacturing, healthcare, and education too. Rapid changes in workforce management creating need for organizations to automate their talent acquisition processes.
- Rising Shift from Agricultural to Services Sector Will Encourage Market Growth in Asia Pacific
In 2018, the HCM market in North America was valued at USD 7.27 Billion and is expected to maintain its dominance through the forecast years. The growth is attributable to the increasing adoption of workforce analytics and employee experience platforms. Furthermore, the emergence of mobile apps for HR personnel is another factor create growth opportunities for the market in North America. Considering this, the human capital management market revenue is expected to surge over the projected horizon in this region. The rising focus on bringing automation in managing workforce tasks is expected to drive the market in Europe by 2026.
Apart from these two regions, the market in Asia Pacific is anticipated to grow at a faster rate in the forecast years. Rising developments in talent management practices and core HR is likely to augment demand for HCM solution in this region. In addition to this, the rising shift from the agricultural sector to services sector among the people is enabling growth in the market in Asia Pacific. This shift is mainly on account of better lifestyle and higher pay scale.
Key Market Driver – Growing demand for talent mobility, adoption of paperless or cloud-based business models in HRM services, the growth of AI and machine learning technology
Key Market Restraint – Expensive setup and installed cost of the software, regular updates of software’s
Human Capital Management Market Landscape and Market Scenario Includes:
- Current market size estimate
- Revenues by players Top Companies
- Market size by product categories
- Market size by regions/country
Adoption of Cloud-based Business Model to Fuel Demand in Market
Rising adoption of the cloud-based business model and increasing demand for talent mobility are a few factors anticipated to drive the global human capital management market. Furthermore, integration of Artificial Intelligence in human capital management system is likely to fuel the demand in the market.
Technological upgrades taking place in the human capital management software is a major factor facilitating the adoption of software. For instance, Infor. Acquired Alfa-Beta Solutions in 2018. The aim of the acquisition was to deploy cloud-based solution in HRM service. The acquisition led to the introduction of CloudSuite HCM. The software is based on the cloud model and offers refined automated technology, secure operations, and others.
However, the high cost associated with HRM solutions is a major factor that may restrain the market to a certain extent. Besides this, technical complications in the software might hamper the growth in the global market
Important Features that are under Offering and Key Highlights of the Market Report:
- Detailed overview of Market Share
- Changing market dynamics of the industry
- In-depth Human Capital Management 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 Market
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising market growth
Top Players List:
- Cornerstone OnDemand
- Epicor Software
- Kronos Incorporated
- SumTotal Systems
Oracle to Attain Higher Share in Market Owing to Acquisition of Dyn
The global human capital management market is expected to expand at a promising CAGR. Market players are experimenting with various strategies to lead the market. For instance, Oracle Corporation acquired Dyn, Inc. in 2017. Oracle executed the acquisition to strengthen its cloud-product offering by enhancing functions such as workforce scheduling, sourcing and recruiting, applicant tracking, and time management.
Key Industry Developments
- November 2017: Oracle Corporation completely acquired Dyn, Inc. This acquisition with an aim to strengthen Oracles cloud product offerings by optimizing human resource management functions, such as sourcing and recruiting, workforce scheduling, applicant tracking, and time management.
- March 2017: Infor acquired Accentia Middle East. This acquisition would offer Infor to expand its HRM business process presence in global regions including the Middle East, North Africa, and India.
Queries Addressed In Human Capital Management Market Report:
- What opportunities are present for the Human Capital Management market players to enhance their business footprint?
- What manufacturing techniques are being implemented in the development of advanced Construction Equipment?
- Which segment is witnessing huge traction from the consumers?
- For what purposes, is the Human Capital Management market being utilized?
- How many units are estimated to be sold in 2020?
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/human-capital-management-market-100240
Key Features of Market Research Report:
- This report provides detail analysis of the Human Capital Management market and have a comprehensive understanding of the market and its commercial landscape.
- Learn about the various Human Capital Management market strategies that are being adopted by leading companies.
- It provides a five-year forecast assessed based on how the market is predicted to grow.
- It provides insightful analysis of changing competition dynamics and keeps you ahead of competitors.
- To understand the future scope and outlooks for the Human Capital Management market.
- Market Forecast by regions, type and application, with sales and revenue, from 2020 to 2026.
- Market Share, distributors, major suppliers, changing price patterns and the supply chain of raw materials is highlighted in the report.
- Market Size (sales, revenue) forecast by regions and countries from 2020 to 2023 of industry.
- The global Human Capital Management market Growth is anticipated to rise at a considerable rate during the forecast period, between 2020 and 2023. In 2020, the market was growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
- Market Trend for Development and marketing channels are analysed. Finally, the feasibility of new investment projects is assessed and overall research conclusions offered.
- Human Capital Management Market Report also mentions market share accrued by each product in the market, along with the production growth.
Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.
Table of Content
5. Global Human Capital Management Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings / Summary
5.2. Human Capital Management Market Size Estimates and Forecasts
5.2.1. By Offering (Value)
18.104.22.168.1. Core HR
22.214.171.124.2. Talent Management (On-Boarding, Recruiting)
126.96.36.199.3. Workforce Management
188.8.131.52.4. Compensation & Payroll
5.2.2. By Deployment Type (Value)
5.2.3. By Organization Size (Value)
184.108.40.206. Small and Medium-Sized Enterprises (SMEs)
6. North America Human Capital Management Market Analysis, Insights and Forecast, 2015-2026
6.1. Key Findings / Summary
6.2. Human Capital Management Market Size Estimates and Forecasts
6.2.1. By Offering (Value)
220.127.116.11.1. Core HR
18.104.22.168.2. Talent Management (On Boarding, Recruiting)
22.214.171.124.3. Workforce Management
126.96.36.199.4. Compensation & Payroll
6.2.2. By Deployment Type (Value)
6.2.3. By Organization Size (Value)
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