Human Capital Management Market Size, Share, Analysis 2022
Human capital management is that the process of managing the workers so as to enhance the general performance of the organization. Its main focus is on providing the competitive advantage to the organization and is implemented in three categories like workforce acquisition, human resource management and workforce optimization. It is a group of practices for recruiting, managing, developing and optimizing human resources of a corporation. Its main functions are managing employee profile, payroll & compensation, benefits & perks, recruitment and selection, training & development and workforce analytics. Advancement in technology for solving human resource problems has reduced the time span for solving the normal human resource activities like workforce profile, information regarding attendance, leave & performance status, recruitment, screening applications, and workforce analytics. This enables human resource manager to specialise in retaining workforce, attract candidates and align organizational goals with individual goals that promotes the general growth of the organization.
The global Human Capital Management (HCM) market is expected to cross more than US$ 27.80 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 6.7% during the forecast period.
Further, growing demand for unified HCM portal for employee activities for transparent visibility of activities in a corporation like attendance & leave of employees, perks & benefits, payroll & compensation and human resource rules & procedures is estimated to support the market. Increasing demand for streamlining human resource activities on the rear of growing technological advancements which reduces the time period and help in speedy & easy flow of activities alongside increasing adoption of digital HR technology are a number of the many factors that are expected to spice up the expansion of the market.
Global Human Capital Management market is segmented based on the Component as, Software and Services. On the basis of Software as, the global Human Capital Management market is segregated as, Core HR, Applicant Tracking System, HR Analytics and Workforce Management. Global Human Capital Management market is segmented based on the Services as, Integration and Implementation, Support and Maintenance and Consulting. On the basis of Deployment Model as, the global Human Capital Management market is segregated as, On-Premises and Cloud. Global Human Capital Management market is segmented based on the Organization Size as, Large Enterprises and Small and Medium-Sized Enterprises. Global Human Capital Management market is segmented based on the Vertical as, Banking, Financial Services, and Insurance, Government, Manufacturing, Telecom and IT, Consumer Goods and Retail, Healthcare and Life Sciences, Energy and Utilities, Transportation and Logistics and Others.
Global Human Capital Management market report covers various regions including North America, Europe, Asia Pacific, and Rest of World. The regional Human Capital Management market is further bifurcated for major countries including U.S., Canada, Germany, UK, France, Italy, China, India, Japan, Brazil, South Africa and others.
Research Methodology:
To calculate the market size, the report considers the revenue generated from the sales of Human Capital Management market manufacturers. The revenue generated from the sales of Human Capital Management manufacturer has been calculated through primary and secondary research.
The market size estimation also considered leading players revenues as part of triangulation the key players considered Workday (US), Oracle (US), ADP (US), SAP (UK), Microsoft (US), IBM (US), Ultimate Software (US), Ceridian (US), SumTotal (US), Kronos (US),Infor (US), Cornerstone (US), Meta4 (US), Ramco Systems (India), Bamboo HR (US), Namely (US), and Workforce Software Availability Services among others operating in the Human Capital Management market across the globe identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes types of segmentation determined using secondary sources and verified through primary sources.
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The Human Capital Management Market has been segmented as below:
Human Capital Management Market, By Component
Software
Services
Human Capital Management Market, By Software
Core HR
Benefits and Claims Management
Payroll and Compensation Management
Learning Management
Succession Planning
Applicant Tracking System
HR Analytics
Workforce Management
Absence Management
Performance Management
Workforce Scheduling
Time and Attendance Management
Workforce Analytics
Human Capital Management Market, By Service
Integration and Implementation
Support and Maintenance
Consulting
Human Capital Management Market, By Deployment Model
Cloud
On-Premises
Human Capital Management Market, By Organization Size
Large Enterprises
Small and Medium-Sized Enterprises
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Human Capital Management Market, By Vertical
Banking, Financial Services, and Insurance
Government
Manufacturing
Telecom and IT
Consumer Goods and Retail
Healthcare and Life Sciences
Energy and Utilities
Transportation and Logistics
Others
Human Capital Management Market, By Region
North America
Europe
Asia Pacific
Rest of World
Report scope:
The global Human Capital Management market report covers detailed study with the underlying influencing factors for the variations in the industry growth trends. The report scope includes market analysis on regional as well as country level
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