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$24+ Billion Worldwide Human Capital Management Industry to 2025 - Featuring Workday, Oracle & ADP Among Others
[July 15, 2020]

$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's offering.

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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 Integration of Ai and Ml in Hcm Suites Need for Reducing HR-Related Costs Fueling the Market Demand
5.3.2 Restraints Security Concerns Over Cloud-Based Deployment
5.3.3 Opportunities Rising Adoption of Cloud-Based Software Solutions Advancements in Potential Markets
5.3.4 Challenges Data Inconsistency Due to the Adoption of Multiple Advanced Technologies and HR Standards Among Businesses 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

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