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Human Capital Management Market to Reach US$ 48.29 Billion by 2026 - TMR
[November 15, 2018]

Human Capital Management Market to Reach US$ 48.29 Billion by 2026 - TMR

ALBANY, New York, November 15, 2018 /PRNewswire/ --

According to a new market report published by Transparency Market Research the global human capital management market was valued at US$ 21.30 Bn in 2016 and is expected to expand at a CAGR of 8.8% from 2018 to 2026, reaching US$ 48.29 Bn by the end of the forecast period. According to the report, North America was the largest contributor in terms of revenue to the human capital management market in 2016.

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Growing implementation of Cloud Based HCM Software driving the global human capital management market  

The global human capital management market is expected to witness considerable growth due to the increasing adoption of cloud technologies such as SaaS (Software as a Service). Moreover, cloud based human capital management has the ability to provide self-service which reduces the excess burden on HR. Such cloud based solutions are very secure because data is not lost when the computer/system/laptop crashes. This solution allows HR or other authorities to access workforce related information at any location and at any time. Moreover, a cloud-based human capital management portfolio improves the retention of employees and reduces turnover cost, thereby increasing the performance and employee engagement of the organization. In addition, SaaS-based human capital management services eliminate the need to manually upgrade the system as it is taken care of by the vendors themselves. Additionally, SaaS technology helps consolidate various HCM solutions under one single package.

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Human Capital Management Market: Scope of the Report 

The global market for human capital management is segmented on the basis of deployment, enterprise size, solution, industry, and geography. On the basis of deployment, the market is segmented into cloud, on-premise, and hybrid. In 2017, the cloud segment accounted for the largest market share in terms of revenue of the global human capital management market.

Furthermore, the cloud segment is expected to expand at the highest growth rate during the forecast period. Based on enterprise size, the global human capital management market is bifurcated into small & medium enterprises (SME's), and large enterprises. Based on solutions, the market is categorized into software and services. The software sub segment is further segmented into suite and standalone. The software market is expected to expand at the highest growth rate during the forecast period. In terms of industry, the market is divided into banking, financial services, and insurance (BFSI), IT and telecom, government, transportation and logistics, retail, healthcare, manufacturing, and others.

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Geographically, the global human capital management market is bifurcated into North America, Asia Pacific, Europe, South America, and Middle East & Africa. North America is estimated to account for the largest market share in 2018 due to technological advancements and increasing demand for talent mobility in the country. Moreover, demand for human capital management in North America is driven by the latest features that are available in the software such as customization on-demand, predictive analytics, and cloud computing. Human capital management software has become much easier to use and enables a company to quickly adapt their software to the changing needs. Asia Pacific is expected to expand at the highest CAGR as mid-size enterprises are realizing the importance of human capital management in various developing countries in the region. This in turn is pushing the human capital management market forward.

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Global Human Capital Management Market: Competitive Dynamics 

Major industry players in the human capital management market are adopting different strategic initiatives such as mergers and acquisitions, partnerships, and collaborations for technologies and new product development. The global human capital management market includes key players such as Workday, Inc, Infor, Inc., SAP SE, Epicor Software Corporation, Kronos Incorporated, Ultimate Software Group, Automatic Data Processing, Inc., Oracle Corporation, Paycor, Inc., Paycom Software, Inc., Paylocity Corporation, Sage Group plc. and Paychex, Inc.

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Market Segmentation: Global Human Capital Management Market 

By Deployment 

  • Cloud
  • On-Premise
  • Hybrid

By Enterprise Size 

  • Small & Medium Enterprises (SME's)
  • Large Enterprises

By Solution 

  • Software
    • Suite
    • Standalone
      • Acquisition
        • Recruitment
        • Training
        • Evaluation
      • Management
        • Time & Attendance Management
        • Payroll & Compensation Management
        • Compliance Management
      • Optimization
        • Employee Benefits Management
        • Portal/employee self-service
      • Service

By Industry 

  • Banking Financial Services & Insurance
  • IT & Telecom
  • Government
  • Transportation & Logistics
  • Retail
  • Healthcare
  • Manufacturing
  • Others (Aerospace & Defense, Hospitality)

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About Us 

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.


Mr. Rohit Bhisey
Transparency Market Research
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