Reports

Human Capital Management (HCM) Market

Global Human Capital Management (HCM) Market: By Offering: Software, Services; By Deployment: Cloud Based, On-Premises; By Enterprise Size: SME’s, Large Enterprises; By End Use; Regional Analysis; Historical Market and Forecast (2018-2028); Value Chain Analysis; Competitive Landscape; Industry Events and Developments

Global Human Capital Management (HCM) Market Outlook

The global human capital management (HCM) market is expected to grow at a CAGR of 8% in the forecast period of 2023-2028.

 

Global Human Capital Management (HCM) Market

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North America to be Among the Leading Markets for the Human Capital Management (HCM) Industry

North America has been among the leading regions for the global human capital management (HCM) industry in the historical period, and the region is likely to witness robust growth during the forecast period as well. The increase in the number of job-seekers due to globalisation and urbanisation, the wider penetration of social media into recruitment processes, and the growing need for cost optimization would have a major effect on human resource management solutions for the region's market. A significant portion of the global demand growth will come from North America during the forecast period.

 

Asia Pacific to Witness Rapid Growth in the Forecast Period

Asia Pacific is projected to witness fast growth in the future due to the presence of developing economies like China and India. The development can also be attributed to growing government policies to promote the digitization of business processes and the adoption of cloud-based systems. The regional population is rapidly shifting from the agricultural or manufacturing sector to the service sector due to better pay, that is further driving regional demand growth.

 

Human Capital Management (HCM): Market Segmentation

Human capital management is a series of human resource management strategies that concentrate on the organisational need to deliver competencies. These activities are applied in three major categories, such as the procurement of labour force, human resource management and optimization of labour force. Human capital management is a staffing strategy that considers people as human capital assets. The present value of human capital can be calculated in the management of human capital and its potential value can be increased by investment.

 

Global Human Capital Management (HCM) Market By End Use

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Based on offering, the market can be divided into the following:

  • Software
  • Services

On the basis of deployment, the industry can be divided into:

  • Cloud Based
  • On-Premises

The enterprise size of the market can be divided as follows:

  • SMEs
  • Large Enterprises

It finds end-use in the following sectors:

  • IT and Telecommunication
  • BFSI
  • Government
  • Retail
  • Healthcare
  • Education
  • Manufacturing
  • Others

The regional markets for Human Capital Management (HCM) can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Human Capital Management (HCM) Market By Region

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Technological Advancements Bolstering the Market Growth of Human Capital Management (HCM)

The growth of the market is primarily being driven by the rapid technological advancements. The rising demand for automated recruitment processes is a key factor in driving the growth of the global market for HCM solutions. Advances such as the convergence of AI and machine learning technology have made HCM solutions capable of automating recruitment processes. Automated HCM systems help to dramatically reduce the total time, effort and expense associated with the recruitment process. The growing demand for effective management of core HR functions, such as recruiting, employee training, scheduling, payroll, internal relations, benefits management and protection, and enforcement, is increasing the demand for HR functional software solutions.

 

Key Industry Players in the Global Human Capital Management (HCM) Market

The report gives a detailed analysis of the following key players in the global human capital management (HCM) market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Oracle Corporation
  • SAP SE
  • ADP, Inc.
  • Ceridian HCM, Inc.
  • Infor
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Offering, Deployment, Enterprise Size, End Use, Region
Breakup by Offering Software, Services
Breakup by Deployment Cloud Based, On-Premises
Breakup by Enterprise Size SME’s, Large Enterprises
Breakup by End Use IT and Telecommunication, BFSI, Government, Retail, Healthcare, Education, Manufacturing, Others
Breakup by Region North America, Latin America, Europe, Middle East and Africa, Asia Pacific
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Oracle Corporation, SAP SE, ADP, Inc., Ceridian HCM, Inc., Infor, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Human Capital Management (HCM) Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Human Capital Management (HCM) Historical Market (2018-2022) 
    8.3    Global Human Capital Management (HCM) Market Forecast (2023-2028)
    8.4    Global Human Capital Management (HCM) Market by Offering
        8.4.1    Software
            8.4.1.1    Historical Trend (2018-2022)
            8.4.1.2    Forecast Trend (2023-2028)
        8.4.2    Services
            8.4.2.1    Historical Trend (2018-2022)
            8.4.2.2    Forecast Trend (2023-2028)
    8.5    Global Human Capital Management (HCM) Market by Deployment
        8.5.1    Cloud Based
            8.5.1.1    Historical Trend (2018-2022)
            8.5.1.2    Forecast Trend (2023-2028)
        8.5.2    On-Premises
            8.5.2.1    Historical Trend (2018-2022)
            8.5.2.2    Forecast Trend (2023-2028)
    8.6    Global Human Capital Management (HCM) Market by Enterprise Size
        8.6.1    SME’s
            8.6.1.1    Historical Trend (2018-2022)
            8.6.1.2    Forecast Trend (2023-2028)
        8.6.2    Large Enterprises
            8.6.2.1    Historical Trend (2018-2022)
            8.6.2.2    Forecast Trend (2023-2028)
    8.7    Global Human Capital Management (HCM) Market by End Use
        8.7.1    IT and Telecommunication
            8.7.1.1    Historical Trend (2018-2022)
            8.7.1.2    Forecast Trend (2023-2028)
        8.7.2    BFSI
            8.7.2.1    Historical Trend (2018-2022)
            8.7.2.2    Forecast Trend (2023-2028)
        8.7.3    Government
            8.7.3.1    Historical Trend (2018-2022)
            8.7.3.2    Forecast Trend (2023-2028)
        8.7.4    Retail
            8.7.4.1    Historical Trend (2018-2022)
            8.7.4.2    Forecast Trend (2023-2028)
        8.7.5    Healthcare
            8.7.5.1    Historical Trend (2018-2022)
            8.7.5.2    Forecast Trend (2023-2028)
        8.7.6    Education
            8.7.6.1    Historical Trend (2018-2022)
            8.7.6.2    Forecast Trend (2023-2028)
        8.7.7    Manufacturing
            8.7.7.1    Historical Trend (2018-2022)
            8.7.7.2    Forecast Trend (2023-2028)
        8.7.8    Others
    8.8    Global Human Capital Management (HCM) Market by Region       
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2022) 
            8.8.1.2    Forecast Trend (2023-2028)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2022) 
            8.8.2.2    Forecast Trend (2023-2028)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2022) 
            8.8.3.2    Forecast Trend (2023-2028)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2022) 
            8.8.4.2    Forecast Trend (2023-2028)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2022) 
            8.8.5.2    Forecast Trend (2023-2028) 
9    North America Human Capital Management (HCM) Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2022) 
        9.1.2    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Historical Trend (2018-2022) 
        9.2.2    Forecast Trend (2023-2028)
10    Europe Human Capital Management (HCM) Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2022) 
        10.1.2    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Historical Trend (2018-2022) 
        10.2.2    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Historical Trend (2018-2022) 
        10.3.2    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Historical Trend (2018-2022) 
        10.4.2    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Human Capital Management (HCM) Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2022) 
        11.1.2    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Historical Trend (2018-2022) 
        11.2.2    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Historical Trend (2018-2022) 
        11.3.2    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2022) 
        11.4.2    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Historical Trend (2018-2022) 
        11.5.2    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Human Capital Management (HCM) Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2022) 
        12.1.2    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2022) 
        12.2.2    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2022) 
        12.3.2    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Human Capital Management (HCM) Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2022) 
        13.1.2    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2022) 
        13.2.2    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2022) 
        13.3.2    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2022) 
        13.4.2    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape
    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Oracle Corporation
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    SAP SE
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    ADP, Inc.
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Ceridian HCM, Inc.
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Infor
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Others
17    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Human Capital Management (HCM) Market: Key Industry Highlights, 2018 and 2028
2.    Global Human Capital Management (HCM) Historical Market: Breakup by Offering (USD Billion), 2018-2022
3.    Global Human Capital Management (HCM) Market Forecast: Breakup by Offering (USD Billion), 2023-2028
4.    Global Human Capital Management (HCM) Historical Market: Breakup by Deployment (USD Billion), 2018-2022
5.    Global Human Capital Management (HCM) Market Forecast: Breakup by Deployment (USD Billion), 2023-2028
6.    Global Human Capital Management (HCM) Historical Market: Breakup by Enterprise Size (USD Billion), 2018-2022
7.    Global Human Capital Management (HCM) Market Forecast: Breakup by Enterprise Size (USD Billion), 2023-2028
8.    Global Human Capital Management (HCM) Historical Market: Breakup by End Use (USD Billion), 2018-2022
9.    Global Human Capital Management (HCM) Market Forecast: Breakup by End Use (USD Billion), 2023-2028
10.    Global Human Capital Management (HCM) Historical Market: Breakup by Region (USD Billion), 2018-2022
11.    Global Human Capital Management (HCM) Market Forecast: Breakup by Region (USD Billion), 2023-2028
12.    North America Human Capital Management (HCM) Historical Market: Breakup by Country (USD Billion), 2018-2022
13.    North America Human Capital Management (HCM) Market Forecast: Breakup by Country (USD Billion), 2023-2028
14.    Europe Human Capital Management (HCM) Historical Market: Breakup by Country (USD Billion), 2018-2022
15.    Europe Human Capital Management (HCM) Market Forecast: Breakup by Country (USD Billion), 2023-2028
16.    Asia Pacific Human Capital Management (HCM) Historical Market: Breakup by Country (USD Billion), 2018-2022
17.    Asia Pacific Human Capital Management (HCM) Market Forecast: Breakup by Country (USD Billion), 2023-2028
18.    Latin America Human Capital Management (HCM) Historical Market: Breakup by Country (USD Billion), 2018-2022
19.    Latin America Human Capital Management (HCM) Market Forecast: Breakup by Country (USD Billion), 2023-2028
20.    Middle East and Africa Human Capital Management (HCM) Historical Market: Breakup by Country (USD Billion), 2018-2022
21.    Middle East and Africa Human Capital Management (HCM) Market Forecast: Breakup by Country (USD Billion), 2023-2028
22.    Global Human Capital Management (HCM) Market Structure

Key Questions Answered in the Report

What is the growth rate of the global human capital management (HCM) market?

The market is projected to grow at a CAGR of 8% between 2023 and 2028.

What are the major market drivers?

The growth of the market is being driven by factors like rising population, increasing globalisation, and the growing demand for effective management of core HR functions.

What are the key trends of the market?

Advances including the convergence of AI and machine learning technologies and increasing focus towards talent mobility activities are the key trends of the market.

What are the major regional markets of human capital management (HCM), according to the EMR report?

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the leading offerings of human capital management (HCM) in the market?

The leading offerings of human capital management (HCM) in the market are software and services.

What are the major deployments of human capital management (HCM) in the market?

The major deployments of human capital management (HCM) in the market are cloud based and on-premises.

What are the significant enterprise sizes in the market?

The significant enterprise sizes in the market are SMEs and large enterprises.

What are the major end uses in the market?

The major end uses in the market are IT and telecommunication, BFSI, government, retail, healthcare, education, and manufacturing, among others.

Who are the key market players, according to the report?

The key players in the global human capital management (HCM) market are Oracle Corporation, SAP SE, ADP, Inc., Ceridian HCM, Inc., and Infor, among others.

Analyst Review

The global human capital management (HCM) market is being driven by the rising demand for effective management of core HR functions. Aided by the technological advancements, the market is expected to witness a healthy growth in the forecast period of 2023-2028, growing at a CAGR of 8%.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By offering, the market is bifurcated into software and services. Based on deployment, the industry is divided into cloud based and on-premises. On the basis of enterprise size, the market is segmented into SMEs and large enterprises. By end use, the industry is divided into IT and telecommunication, BFSI, government, retail, healthcare, education, and manufacturing, among others. The major regional markets for human capital management (HCM) are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Oracle Corporation, SAP SE, ADP, Inc., Ceridian HCM, Inc., and Infor, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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