Human Capital Management Market Size, 2022 is Booming, Global Business Forecast by 2030 – Muleskinner

The size of the global human capital management market was 18.0 billion US$ in 2021. The global human capital management market is expected to reach 31.3 billion US$ by 2030 by registering a rate of compound annual growth (CAGR) of 7.9% over the forecast period from 2022 to 2030.

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market competitors, Workday, Oracle, ADP, SAP, Microsoft, IBM, Ultimate Software, Ceridian, SumTotal, Kronos, Infor, Talentsoft, Employ Wise, Other Important Players

Organizations use human capital management (HCM) to recruit, manage, develop and optimize employees. The process helps to improve the performance and skills of employees. He also manages other functions such as facilitating the human resource management process and increasing the efficiency of operations.

Factors influencing the market

The benefits of human capital management (HCM) such as saving time and reducing the difficulty of lengthy processes will primarily drive the market forward. Additionally, the deployment of HCM is increasing in various verticals to facilitate HR operations. Thus, these factors will contribute to the growth of the Human Capital Management (HCM) market.

The software finds wide applications in various verticals, such as banking and insurance (BFSI), healthcare, telecommunications and IT, manufacturing, retail, media, entertainment, and more. Moreover, the software also offers secure access to various administrative tasks. Furthermore, it also benefits the employees by allowing them to access their data through their mobile or desktop. Such benefits will propel the human capital management (HCM) market forward.

Cybersecurity and privacy issues may limit the growth of the human capital management (HCM) market.

Cloud-based HCM solutions are gaining popularity which will accelerate the growth of the human capital management (HCM) market over the study period. For example, Seagrass Boutique Hospitality Group deployed Ceridian’s flagship HCM cloud-based software platform to pay, manage and engage its workforce. Thus, the increasing deployment of HCM solutions will accelerate the growth of the market.

COVID-19 impact analysis

The wake of the COVID-19 pandemic has triggered digitalization across all industry verticals. As a result, the global human capital management market has witnessed lucrative growth opportunities. Additionally, the adoption of the work-from-home model has further increased the demand for effective tools and techniques. As a result, it has contributed to the growth of the global human capital management market.

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Regional analysis

Based on region, the human capital management market in Asia Pacific is expected to register the highest growth rate. It is attributed to the increasing adoption of technologies in order to gain competitive advantage. Moreover, increasing digitization has compelled brands to embrace technology in order to upgrade employee skills. Thus, all these factors will drive the human capital management market in Asia Pacific forward.

Market segmentation

The global human capital management market segmentation focuses on components, deployment, organization, end use, and region.

By component

basic HR
Applicant Tracking System
HR Analytics, Workforce Management
Integration and implementation
training and education,
Support and maintenance

By deployment model

On the site

By organization size

Big business

By end-use industries

Bank Financial Services and Insurance (BFSI)
Telecom and IT
Consumer goods and distribution
Health and life sciences
Energy and Utilities
Transport and logistics

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By region

North America
United States
Western Europe
Great Britain
Rest of Western Europe
Eastern Europe
Rest of Eastern Europe
Asia Pacific
Australia and New Zealand
Rest of Asia-Pacific
Middle East and Africa (MEA)
United Arab Emirates
Saudi Arabia
South Africa
Rest of MEA
South America
Rest of South America

What factors are taken into consideration while evaluating the major market players?

The report analyzes companies around the world in detail.
The report provides an overview of the major market vendors including key players.
The reports include information about each manufacturer, such as profiles, revenue, product prices, and other relevant information about the products produced.
This report includes a comparison of market competitors and a discussion of key player perspectives.
Market reports provide information on recent developments, mergers and acquisitions involving key players.

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