$24+ Billion Worldwide Human Capital Management Industry to 2025 - Featuring Workday, Oracle & ADP Among Others
DUBLIN, July 15, 2020 /PRNewswire/ -- The "Human Capital Management Market by Software (Core HR, Applicant Tracking System, HR Analytics, Workforce Management), Services, Deployment Model (cloud and on-premises), Organization Size, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The HCM market is estimated to be USD 1,7570 million in 2020 and projected to reach USD 2,4310 million by 2025, at a CAGR of 6.7% during the forecast period.
The integration of emerging technologies, such as Artificial Intelligence (AI) and machine Learning (ML), with HCM solutions is expected to be one of the strongest factors for HCM solution and services adoption across regions.
Attractive Opportunities in the Human Capital Management Market
The adoption of the remote work culture by businesses across the globe due to the COVID-19 pandemic is introducing new challenges to HCM software and service providers. The major challenge faced is updating offerings as per the working culture of organizations. HCM providers can advance their software during this pandemic by adding new capabilities, such as tracking employee health and location. This is expected to boost the adoption of HCM software. However, cost cutting and delay in projects by enterprises may offer a restraint in the adoption of HCM software.
Cloud deployment model is expected to grow at a higher CAGR during the forecast period
The majority of HCM solutions are expected to be deployed in cloud, and so cloud based deployment will outperform the on-premises deployment and will have a higher CAGR during the forecast period. Enterprises are moving toward cloud-based deployment to minimize operational cost and achieve greater ease in sharing data with multiple parties.
BFSI industry vertical to hold the highest market share in 2020
The Banking, Financial Services, and Insurance (BFSI) vertical is one of the early adopters of HCM solutions to effectively manage the entire lifecycle of employees. The same trend is expected to be there in the coming years, and the vertical is expected to adopt HCM solutions to manage internal as well as external employees. BFSI enterprises deal with a diverse workforce from office employees, contingent workforce, third-party workforce, and others. As the vertical needs to manage these workforces and comply with government regulations, the vertical will have the highest adoption of HCM solutions and services.
APAC to grow at the highest CAGR during the forecast period
The Asia Pacific (APAC) region is expected to be the top adopter of HCM solutions where the vertical will have the highest growth rate during the forecast period. The APAC region has huge potential in terms of adoption due to the presence of countries such as India, China, and Japan, a growing workforce, and a huge number of small and medium enterprises. Small and medium enterprises are expected to have a high adoption of HCM solutions in the next 5 years due to the rising demand by tese enterprises to manage their workforce.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Attractive Market Opportunities in the Human Capital Management Market 4.2 Market by Vertical 4.3 Market by Deployment Type 4.4 Market by Component 4.5 Market by Organization Size 4.6 Market Potential
5 Market Overview and Industry Trends 5.1 Introduction 5.2 Innovation Spotlight 5.3 Market Dynamics 5.3.1 Drivers 5.3.1.1 Integration of Ai and Ml in Hcm Suites 5.3.1.2 Need for Reducing HR-Related Costs Fueling the Market Demand 5.3.2 Restraints 5.3.2.1 Security Concerns Over Cloud-Based Deployment 5.3.3 Opportunities 5.3.3.1 Rising Adoption of Cloud-Based Software Solutions 5.3.3.2 Advancements in Potential Markets 5.3.4 Challenges 5.3.4.1 Data Inconsistency Due to the Adoption of Multiple Advanced Technologies and HR Standards Among Businesses 5.3.4.2 Lack of Competent Resources 5.4 Industry Trends 5.4.1 Developed Unified System of Global HR Records With Improved Scalability and Real-Time Reporting Through Human Capital Management 5.4.2 Increased Resource Availability Through Elimination of Substantial Manual Tasks Using Human Capital Management Solution 5.4.3 Streamlined Global HR Operations, Enhanced Employee Experience, and Increased Organizational Agility and Speed With Human Capital Management Solutions
6 Human Capital Management Market, by Component 6.2 Introduction 6.3 Component: Covid-19 Impact
7 Human Capital Management Market, by Software 7.1 Introduction 7.2 Core HR 7.2.1 Benefits and Claims Management 7.2.2 Payroll and Compensation Management 7.2.3 Learning Management 7.2.4 Succession Planning 7.3 Applicant Tracking System 7.4 HR Analytics 7.5 Workforce Management 7.5.1 Absence Management 7.5.2 Performance Management 7.5.3 Workforce Scheduling 7.5.4 Time and Attendance Management 7.5.5 Workforce Analytics
8 Human Capital Management Market, by Service 8.1 Introduction 8.2 Integration and Implementation 8.3 Training and Education 8.4 Support and Maintenance 8.5 Consulting
9 Market, by Deployment Model 9.1 Introduction 9.2 Deployment Model: Covid-19 Impact 9.3 On-Premises 9.4 Cloud
10 Human Capital Management Market, by Organization Size 10.1 Introduction 10.2 Organization Size: Covid-19 Impact 10.3 Small and Medium-Sized Enterprises 10.4 Large Enterprises
11 Market, by Vertical 11.1 Introduction 11.2 Vertical: Covid-19 Impact 11.3 Banking, Financial Services, and Insurance 11.4 Government 11.5 Manufacturing 11.6 Telecom and IT 11.7 Consumer Goods and Retail 11.8 Healthcare and Life Sciences 11.9 Energy and Utilities 11.10 Transportation and Logistics 11.11 Others
12 Human Capital Management Market, by Region 12.1 Introduction 12.2 North America 12.3 North America: Covid-19 Impact 12.3.1 United States 12.3.2 Canada 12.4 Europe 12.5 Europe: Covid-19 Impact 12.5.1 United Kingdom 12.5.2 Germany 12.5.3 France 12.5.4 Rest of Europe 12.6 Asia-Pacific 12.7 Asia-Pacific: Covid-19 Impact 12.7.1 China 12.7.2 Japan 12.7.3 Australia and New Zealand 12.7.4 Rest of Asia-Pacific 12.8 Middle East and Africa 12.9 Middle East and Africa: Covid-19 Impact 12.9.1 Kingdom of Saudi Arabia 12.9.2 United Arab Emirates 12.9.3 Rest of Middle East and Africa 12.10 Latin America 12.11 Latin America: Covid-19 Impact 12.11.1 Brazil 12.11.2 Mexico 12.11.3 Rest of Latin America
13 Competitive Landscape 13.1 Competitive Leadership Mapping 13.1.1 Visionary Leaders 13.1.2 Dynamic Differentiators 13.1.3 Innovators 13.1.4 Emerging Companies
14 Company Profiles 14.1 Introduction 14.2 Workday 14.3 Oracle 14.4 ADP 14.5 Sap 14.6 Microsoft 14.7 IBM 14.8 Ultimate Software 14.9 Ceridian 14.10 Sumtotal 14.11 Kronos 14.12 Talentsoft 14.13 Employwise 14.14 Peoplestrategy 14.15 Infor 14.16 Cornerstone Ondemand 14.17 Meta4 14.18 Ramco Systems 14.19 Bamboohr 14.20 Namely 14.21 Workforce Software 14.22 Zoho Corporation 14.23 Sage Group 14.24 Epicor Software 14.25 Zenefits 14.26 Paylocity 14.27 Gusto 14.28 Bitrix 14.29 Benefitfocus 14.30 Webhr 14.31 Talentia Software 14.32 Peoplefluent 14.33 Vibe Hcm 14.34 Rippling 14.35 Ascentis 14.36 Bizmerlinhr
15 Adjacent Market 15.1 Workforce Management Market 15.1.1 Workforce Management Market, by Vertical 15.1.2 Workforce Management Market, by Region 15.2 HR Analytics Market 15.2.1 HR Analytics Market, by Vertical 15.2.2 HR Analytics Market, by Region 15.3 Field Service Management 15.3.1 Field Service Management, by Vertical 15.3.2 Field Service Management, by Region
16 Appendix 16.1 Discussion Guide
For more information about this report visit https://www.researchandmarkets.com/r/ii6q9b
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