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Human Capital Management Market By Software (Core HR, Workforce Management, Sourcing & Recruitment, Applicant Tracking System, Staffing Vendor Management, Others), By Service (Integration, Support & Maintenance, Consulting), By Deployment (On-Premise, Cloud), By Application (Government, Manufacturing, Telecom & IT, Consumer Goods & Retail, Healthcare & Lifescience, Energy & Utility, Transportation & Logistics, Others) - Growth, Future Prospects, And Competitive Landscape, 2019 - 2027

The Rising Demand Among Enterprises to Streamline Operations is Driving the Growth of Human Capital Management Market

Globally, the human capital management market is expected to grow with a CAGR of 8.5% during the forecast period from 2019 to 2027, starting from US$ 16.55 Bn in 2018. The market is driven by the increase demand among organizations to streamline the resource management, payroll, vendor management and other HR functions. As the competition among the organizations is increasing and business models are changing, the organizations are looking for more advance ways to reduce the cost of operations and enhance the efficiency of the business processes. Human capital management solutions enable the organization to address these challenges by offering unified solution for multiple HR functions.

Furthermore, the numerous benefits offered by these solutions such as employee engagement activities, workforce productivity and central management makes it an ideal solution for organizations. However, the data safety and security issues associated with the use of human capital management solutions are acting as a major inhibitor in the growth of the market. Moreover, the reluctance of organization to move from traditional practices to new solutions is also hindering the growth of the market.

Market Synopsis

Human Capital Management Market

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Staffing Vendor Management is Estimated to Grow Significantly During the Forecast Period  

The human capital management market is bifurcated on the basis of software into core HR functions, workforce management, sourcing and recruiting, application tracking system, along with staffing vendor management. Sourcing and recruiting accounted for more than 30% share in the revenue in 2018. The growth of the market is attributed to the integration of advance technologies such as AI and Big Data to source talented professionals. Furthermore, the need among the organizations is to centrally manage all the job applications and candidates also drive the market growth. On the other hand, staffing vendor management solutions are estimated to grow significantly during the forecast period.

Human Capital Management Market

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North America is Leading the Human Capital Management Market             

North America accounted for more than 37% share in the human capital management market in 2018. The market growth is credited to the early adoption of software as service solutions across the region. Furthermore, the growing adoptions of mobility solutions among the enterprises are also acting as a major driver for the growth of the market. Asia Pacific is estimated to gain significant growth during the forecast period. The market is driven by the increasing adoption of cloud services across the region.

Human Capital Management Market

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The key players in the human capital management market are Accenture PLC, Automatic Data Processing (ADP), Cezanne HR Ltd, Ceridian HCM, IBM Corporation, Kronos Incorporated, Mercer LLC, NetSuite, Oracle Corporation, PricewaterhouseCoopers, SAP SE, Talentsoft, Ultimate Software, and Workday.

Human Capital Management Market

Historical & Forecast Period

This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The human capital management market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global human capital management market based on software, service, deployment, application and geography. Key segments covered in the report are as follows:

Research Period  2017-2027
Base Year 2018
Forecast Period  2019-2027
Historical Year  2017
Unit  USD Billion

 Software Segment (2017–2027; US$ Bn)
 • Core HR
 • Workforce management
 • Sourcing and recruiting
 • Applicant tracking system
 • Staffing vendor management
 • Others

 Services Segment (2017–2027; US$ Bn)
 • Integration
 • Support and Maintenance
 • Consulting

 Deployment Segment (2017–2027; US$ Bn)
 • On-Premise
 • Cloud

 Application Segment (2017–2027; US$ Bn)
 • Banking, Financial Services, and Insurance (BFSI)
 • Government
 • Manufacturing
 • Telecom and IT
 • Consumer goods and retail
 • Healthcare and life sciences
 • Energy and utilities
 • Transportation and logistics
 • Others

 Geography Segment (2017–2027; US$ Bn)
 • North America (U.S., Rest of North America)
 • Europe (U.K., Germany, France, Rest of Europe)
 • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
 • Rest of the World (Middle East & Africa, Latin America)

Key questions answered in this report

  • What was the market size of human capital management in 2018 and forecast up to 2027?
  • Which is the largest regional market for human capital management?
  • What are the major trends followed in human capital management market across different regions?
  • Who are the key companies in the human capital management market?
  • What are the key strategies adopted by the leading human capital management companies in market?

Unique data points of this report

  • Statistics on human capital management and spending worldwide
  • Recent trends across different regions in terms of adoption of human capital management across applications
  • Notable developments going on in the industry
  • Attractive investment proposition for segments as well as geography
  • Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
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Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
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Published Date:  Nov 2019
Category:  IT & Telecom
Report ID:   60001
Report Format:   PDF
Pages:   120
Rating:    4.2 (58)
Delivery Time: 24 Hours to 48 Hours   
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