What is the global market size of Human Capital Management Market?

Human Capital Management Market size was valued at USD 24.45 Billion in 2021 and is poised to grow from USD 26.70 Billion in 2022 to USD 53.99 Billion by 2030, at a CAGR of 9.2% during the forecast period (2023-2030).

Who are the key vendors in the Global Human Capital Management Market?

The global human capital management market is highly competitive and fragmented in nature with the presence of several key players. These players are constantly innovating and upgrading their products to meet the evolving needs of customers. These companies are adopting various strategies such as mergers and acquisitions, partnerships, and collaborations to expand their market presence. These players are constantly innovating and upgrading their products to meet the evolving needs of customers. The market is expected to witness intense competition as new players enter the market, and existing players expand their product portfolios through partnerships and collaborations. 'SAP SE (Germany)', 'Oracle Corporation (US)', 'Workday, Inc. (US)', 'ADP, LLC (US)', 'Ultimate Software Group, Inc. (US)', 'IBM Corporation (US)', 'Infor (US)', 'Kronos Incorporated (US)', 'Ceridian HCM Holding Inc. (Canada)', 'Paychex, Inc. (US)', 'Cornerstone OnDemand, Inc. (US)', 'Sage Group plc (UK)', 'Automatic Data Processing, Inc. (US)', 'Talentsoft SA (France)', 'Epicor Software Corporation (US)', 'Ramco Systems Limited (India)', 'PeopleStrong (India)', 'SumTotal Systems LLC (US)', 'Halogen Software Inc. (Canada)', 'SilkRoad Technology Inc. (US)'.

What is the key driver of Global Human Capital Management Market?

Cloud computing has steadily evolved from a revolutionary IT approach to a major corporate technology. Cloud computing solutions in HR tools encourage organizations to accelerate employee engagement and experience by offering wider features that enhance performance and talent management functionalities. With robust cloud-based solutions, the HR and management teams can easily access and provide business and personal data about employees. Cloud-based solutions offer new opportunities for companies by automating heavy and complicated tasks, such as performance review, timesheet submission, and payroll management.

What is the key market trend for Global Human Capital Management Market?

Increasing Adoption of Artificial Intelligence (AI): The integration of AI technology with human capital management solutions is a growing trend. AI-powered solutions can automate repetitive HR tasks, reduce errors, and provide insights into workforce trends, leading to improved decision-making.

Which region accounted for the largest share in Global Human Capital Management Market?

North America is expected to dominate the human capital management market throughout the forecast period, primarily due to the presence of major vendors such as Ceridian HCM Holding Inc., Oracle Corporation, and IBM Corporation, and their substantial investments in cloud-based applications. Small firms are increasingly adopting cloud-based solutions, creating lucrative business opportunities for cloud-based technologies.

Human Capital Management Companies

Human Capital Management Market Competitive Landscape

Human Capital Management Market Top Player’s Company Profiles

Workday (US)
UKG (US)
Oracle (US)
SAP (Germany)
Dayforce (US)
ADP (US)
Paylocity (US)
Paycom (US)
Cornerstone (US)
Microsoft (US)
IBM (US)
Cegid (France)
PeopleStrategy (US)
Infor (US)
Ramco Systems (India)
BambooHR (US)
Namely (US)
Workforce Software (US)
Zoho People (India)
Sage Group (UK)
Epicor Software (US)
Bitrix24 (Russia)
Gusto (US)
Benefitfocus (US)
WebHR (Pakistan)
EmployWise (India)
Sympa (Finland)
ClayHR (US)
HCM Deck (Hungary)
Akrivia HCM (India)
Kenz Innovation (Turkey)

Human Capital Management Market

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Global Human Capital Management Market size was valued at USD 23.36 billion in 2022 and is poised to grow from USD 25.35 billion in 2023 to USD 48.68 billion by 2031, growing at a CAGR of 8.5% in the forecast period (2024-2031).

The human capital management market is characterized by fierce competition among leading players offering innovative, cloud-based solutions and the use of AI to solve personnel management challenges. Leading players such as Workday, Oracle, SAP, and ADP offer complete HCM suites that lead the market by integrating payroll, talent management, and analytics. Workplace is known for its user-friendly interface and AI-enabled insights, while Oracle and SAP focus on payroll and employee management with a strong emphasis on ADP compliance, and offer scalable, enterprise-level designed for global businesses dominates. 'Workday (US) ', 'UKG (US) ', 'Oracle (US) ', 'SAP (Germany) ', 'Dayforce (US) ', 'ADP (US) ', 'Paylocity (US) ', 'Paycom (US) ', 'Cornerstone (US) ', 'Microsoft (US) ', 'IBM (US) ', 'Cegid (France) ', 'PeopleStrategy (US) ', 'Infor (US) ', 'Ramco Systems (India) ', 'BambooHR (US) ', 'Namely (US) ', 'Workforce Software (US) ', 'Zoho People (India) ', 'Sage Group (UK) ', 'Epicor Software (US) ', 'Bitrix24 (Russia) ', 'Gusto (US) ', 'Benefitfocus (US) ', 'WebHR (Pakistan) ', 'EmployWise (India) ', 'Sympa (Finland) ', 'ClayHR (US) ', 'HCM Deck (Hungary) ', 'Akrivia HCM (India) ', 'Kenz Innovation (Turkey)'

Cloud computing has steadily evolved from a revolutionary IT approach to a major corporate technology. Cloud computing solutions in HR tools encourage organizations to accelerate employee engagement and experience by offering wider features that enhance performance and talent management functionalities. Many businesses are transitioning from traditional human capital management systems to cloud-based solutions to save on infrastructure and maintenance expenses. According to industry professionals, around 60% of companies are utilizing cloud-based solutions for tasks, such as recruitment, workforce management, core HR, and payroll and benefits. Multinational corporations that adopt centralized global payroll systems can decrease labor costs by approximately 50% by streamlining processes, optimizing operations, and implementing automation. This allows HR managers to concentrate on more crucial responsibilities, ultimately boosting overall productivity.

Adoption of HCM Solutions to Enhance Talent Matching Processes: Businesses frequently use emerging technologies, such as machine learning, to enhance various talent-matching processes. These include optimizing job requirements, improving applicant expertise, widening the procurement pool, enhancing internal selection efficiency, and removing partial recruitment. These processes are also assisted by other tools, such as video tests, social sourcing tools, Chatbots, and predictive analytics, to test candidates that suit the role. Additionally, by integrating cloud-based approaches and machine learning technologies, key players are opting for various business strategies to meet changing business needs. They are launching efficient human capital management solutions to increase efficiency and drive business growth.

As per the human capital management market analysis, North America will likely hold the maximum human capital management market share throughout the forecast period. This is due to the presence of notable vendors, such as Ceridian HCM Holding Inc., Oracle Corporation, and IBM Corporation, among others, and substantial investments in cloud applications. Cloud-based technologies are gaining momentum globally as small firms are adopting cloud-based solutions for creating lucrative business opportunities. 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.

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What is the global market size of Human Capital Management Market?

Who are the key vendors in the Human Capital Management Market?

What is the key driver of Human Capital Management Market?

What is the key market trend for Human Capital Management Market?

Which region accounted for the largest share in Human Capital Management Market?

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