Human Capital Management Market to Reach USD 30.55 Billion by 2026; Rapid Digital Transformations in HR Practices to Drive the Market: Fortune Business Insights
Key Companies Covered in Human Capital Management Market Research Report are Accenture PLC, Automatic Data Processing (ADP), Inc., Ceridian HCM, Inc., IBM Corporation, Infor, NetSuite, Inc., Oracle Corporation, SAP SE, & other key players
PUNE, India, Oct. 1, 2019 /PRNewswire/ -- Human resource strategy plays a crucial role in building skills, technology, ensure employee behavior and motivation to help the business grow. In the age of globalization, firms are adopting smart and advanced technologies to manage data processing. Human capital management is one such solution, helping organizations to manage resources and streamline HR functions. Workday's HCM suite has the ability to prioritize privacy and security of employee data to support GDPR compliance and other regulations in Europe.
According to a published report by Fortune Business Insights in a report, titled "Human Capital Management (HCM) Market: Global Market Analysis, Insights, and Forecast, 2018-2026," studies growth opportunities and threats prevalent in the market. As per the report, the global market is anticipated to chart a healthy CAGR of 9.4% between 2018 and 2026. The report offers qualitative and quantitative insights into the market to help our readers understand the current market scenario. The report further highlights key market drivers, impacting factors, and strategies adopted by key players. As per the report, the global human capital management market was worth USD 15.04 Billion in 2018 and is anticipated to reach USD 30.55 Billion by 2026. Introduction of predictive analytics and digital transformations will boost the HCM market growth.
Browse Complete Report Details with Table of Content and Figures:
https://www.fortunebusinessinsights.com/industry-reports/human-capital-management-hcm-market-100240
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.
As per the report, some of the leading players operating in the market are mentioned below:
- Accenture PLC
- Automatic Data Processing (ADP), Inc.
- Ceridian HCM, Inc.
- IBM Corporation
- Infor
- NetSuite, Inc.
- Oracle Corporation
- SAP SE
- Ultimate Software
- Workday, Inc.
Speak to Analyst https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/human-capital-management-hcm-market-100240
Table of Content:
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends
- Key Insights
- Macro and Micro Economic Indicators
- Consolidated SWOT Analysis of Key Players
- Porter's Five Forces Analysis
- Global Human Capital Management (HCM) Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Size Estimates and Forecasts
- By Offering (Value)
- Solution
- Core HR
- Talent Management (On Boarding, Recruiting)
- Workforce Management
- Compensation & Payroll
- Others
- Services
- By Deployment Type (Value)
- On-Premise
- Cloud
- By Organization Size (Value)
- Small and Medium-Sized Enterprises (SMEs)
- Large enterprises
- By Industry (Value)
- IT & Telecom
- Banking, Financial Services, and Insurance (BFSI)
- Government
- Retail
- Healthcare
- Education
- Manufacturing
- Others
- By Geography (Value)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Request for Customization: https://www.fortunebusinessinsights.com/enquiry/customization/human-capital-management-hcm-market-100240
Browse Related Reports:
Data Integration and Integrity Software Market Size, Share and Global Trend By Component (Tools (Solutions), Services), By Deployment Model (On-Premises, On-Demand), By Enterprise Size (Large Enterprises, Small and Medium Enterprises), By Industry Vertical (BFSI, Healthcare, Manufacturing, Retail, IT & Telecom, Others) And Geography Forecast Till 2026
High Availability Server Market Size, Share and Global Trend By Product Type (Consoles & Accessories), By End User (Commercial & Residential) and Geography Forecast till 2025
Internet of Things (IoT) Market Size, Share and Global Trend By Platform (Device Management, Application Management, Network Management), By Software & Services (Software Solution, Services), By End-Use Industry (BFSI, Retail, Governments, Healthcare, Others) And Geography Forecast Till 2026
Contact Center Software Market Size, Share and Global Trend By Component (Solutions & Services), By Organization Size (Large & Small & Medium Enterprises (SMEs)), By Deployment (Cloud & On-Premises), By Vertical (Banking, Financial Services, and Insurance, IT and Telecom, Government, and others), and Geography Forecast till 2026
About us:
Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact us:
Fortune Business Insights Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
US :+1-424-253-0390
UK :+44-2071-939123
APAC :+91-744-740-1245
Email: [email protected]
Website: https://www.fortunebusinessinsights.com
Photo: https://mma.prnewswire.com/media/1004073/Human_Capital_Management_Market.jpg
Logo: https://mma.prnewswire.com/media/881202/Fortune_Business_Insights_Logo.jpg
Share this article