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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 the 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 increasing demand among organizations to streamline resource management, payroll, vendor management, and other HR functions drives the market. In addition, as the competition among organizations is increasing and business models are changing, organizations are looking for more advanced ways to reduce the cost of operations and enhance the efficiency of business processes. Human capital management solutions enable the organization to address these challenges by offering a unified solution for multiple HR functions.

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

Market Synopsis

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 advanced 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 and also drive market growth. On the other hand, staffing vendor management solutions are estimated to grow significantly during the forecast period.

North America is Leading the Human Capital Management Market             

North America accounted for more than 37% of 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 adoption of mobility solutions among enterprises is also a major driver for the market's growth. As a result, the Asia Pacific is estimated to gain significant growth during the forecast period. In addition, the increasing adoption of cloud services across the region drives the market.

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.

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. In addition, the report provides a holistic view of the global human capital management market based on software, service, deployment, application, and geography. Key segments covered in the report are as follows:

 

Segmentation 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)

Unique data points of this report

  • Statistics on human capital management and spending worldwide
  • Recent trends across different regions in terms of the 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)

Frequently asked questions :

The market for Human Capital Management Market is expected to reach US$ XX Bn in 2027.

The Human Capital Management Market is expected to see significant CAGR growth over the coming years, at 8.5%.

The report is forecasted from 2019-2027.

The base year of this report is 2018.

Accenture PLC, Automatic Data Processing, Cezanne HR Ltd., Ceridian HCM, IBM Corporation, Kronos Incorporated are some of the major players in the global market.

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Trusted By
Godaddy
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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