Global human capital management industry expected to reach $32 billion by 2026

DUBLIN, March 8, 2022 /PRNewswire/ — The “Worldwide Human Capital Management Industry” report has been added to from offer.

The publisher estimates that the global human capital management (HCM) market will grow from $22.3 billion in 2021 for $32.0 billion by 2026, at a compound annual growth rate (CAGR) of 7.5% over the forecast period.

HCM progress can be linked to a number of factors; however, some of the major drivers include the adoption of AI and ML technologies in HR processes and the reduction in cost achieved using HR software, which is the primary driver enabling the adoption of HCM technologies within companies. Cloud security remains a barrier to cloud HCM adoption among enterprise users, especially in highly regulated verticals, such as BFSI, healthcare, energy, and utilities. Opportunities in adjacent markets, such as contingent workforce management and AI-based recruiting, are opening up new revenue prospects for vendors in the HCM market.

The adoption of remote work culture by enterprises around the world due to the COVID-19 pandemic introduces new challenges for HCM software and service providers. The main challenge is to update the offers according to the work culture of the organizations. HCM vendors can advance their software during this pandemic by adding new features, such as employee health and location tracking. This should boost the adoption of HCM software. However, cost reductions and delays in enterprise projects can be a barrier to adoption of HCM software.

The cloud deployment model is expected to grow at a higher CAGR during the forecast period

Majority of HCM solutions are expected to be deployed in cloud, and hence cloud-based deployment will outperform on-premises deployment and have higher CAGR during the forecast period. Companies are moving towards cloud-based deployment to minimize operational costs and facilitate data sharing with multiple parties.
The BFSI industry vertical will hold the highest market share in 2021.

The banking, financial services and insurance (BFSI) industry is an early adopter of HCM solutions to effectively manage the entire employee lifecycle. The same trend should be there in the coming years, and the vertical should adopt HCM solutions to manage internal and external employees. BFSI companies deal with a diverse workforce consisting of office workers, casual labor, third party labor and others. Since the vertical industry must manage these workforces and comply with government regulations, the vertical industry will have the highest adoption rate of HCM solutions and services.

Asia Pacific grow at the highest CAGR over the forecast period

the Asia Pacific (APAC) 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, Chinaand Japan, a growing workforce and a large number of small and medium-sized businesses. Small and medium-sized businesses are expected to have a high adoption of HCM solutions over the next 5 years due to the growing demand from these businesses to manage their workforce.

Main topics covered:

1. Introduction

2 Research methodology

3 Executive summary

4 premium previews
4.1 Attractive Market Opportunities in Human Capital Management Market
4.2 Market, by component, 2021 vs 2026
4.3 Market, by software, 2021 vs 2026
4.4 Market, by Service, 2021 vs 2026
4.5 Market, by Deployment Model, 2021 vs 2026
4.6 Market, by Organization Size, 2021 vs 2026
4.7 Market, by vertical, 2021 vs 2026
4.8 Regional Market Scenario, 2021-2026

5 Market Overview and Industry Trends
5.1 Presentation
5.2 Market Dynamics
5.2.1 Drivers Integration of Ai and Ml in Hcm sequences Need to reduce human resource costs
5.2.2 Constraints Security issues related to cloud-based deployment
5.2.3 Opportunities Growing adoption of cloud-based software solutions Progress in potential markets
5.2.4 Challenges Data inconsistency due to adoption of several advanced technologies and HR standards among enterprises Lack of competent resources
5.3 Market Dynamics Induced by COVID-19
5.3.1 Drivers and opportunities
5.3.2 Constraints and challenges
5.4 Spotlight on innovation
5.5 Analysis of case studies
5.5.1 Case Study 1: Oracle Provided Solutions to Align and Transform Fujifilm’s Human Resource Management Systems
5.5.2 Case Study 2: Ultimate Software Assisted Vancity in Migrating to Cloud Native AI
5.5.3 Case Study 3: Workday offered solutions to Air Asia to migrate to automated systems
5.5.4 Case Study 4: Adp helped Willidan Group streamline Aca compliance changes
5.5.5 Case Study 5: Kronos enabled the delivery of a robust Hcm cloud solution on a single platform
5.5.6 Case Study 6: Workday Developed a Unified Global HR Records System for Brandsmart with Real-Time Reporting
5.5.7 Case Study 7: Ultimate Software Enables Increased Resource Availability
5.5.8 Case study 8: SAP streamlined Eneco Energie’s HR operations and improved the employee experience
5.6 Ecosystem
5.7 Supply Chain Analysis
5.8 Price Analysis
5.8.1 Presentation
5.9 Patent analysis
5.10 Technology Analysis
5.10.1 Artificial Intelligence and Machine Learning
5.10.2 Cloud Computing
5.10.3 Analytics
5.10.4 Internet of Things
5.11 Porter’s five forces model
5.12 Rules
5.13 Key Conferences and Events in 2022-2023

6 Human Capital Management Market, By Component
6.1 Presentation
Dimension 6.1.1: Market Drivers
6.1.2 Component: Impact of COVID-19

7 Human Capital Management Market, By Software
7.1 Presentation
7.1.1 Software: Market Drivers
7.2 Base time
7.2.1 Management of benefits and complaints
7.2.2 Payroll and compensation management
7.2.3 Learning management
7.2.4 Succession planning
7.3 Applicant Tracking System
7.4 Analysis of hours
7.5 Workforce management
7.5.1 Absence management
7.5.2 Performance management
7.5.3 Workforce planning
7.5.4 Time and attendance management
7.5.5 Labor Analysis

8 Human Capital Management Market, By Service
8.1 Presentation
8.1.1 Service: market drivers
8.2 Integration and implementation
8.3 Training and education
8.4 Support and maintenance
8.5 Consulting

9 Human Capital Management Market, By Deployment Model
9.1 Presentation
9.1.1 Deployment Model: Market Drivers
9.1.2 Deployment model: impact of COVID-19
9.2 On-site
9.3 Cloud

10 Human Capital Management Market, By Organization Size
10.1 Presentation
10.1.1 Organization Size: Market Drivers
10.1.2 Organization size: impact of COVID-19
10.2 Small and medium enterprises
10.3 Large companies

11 Human Capital Management Market, By Vertical
11.1 Presentation
11.1.1 Vertical: Market Drivers
11.1.2 Vertical: Impact of COVID-19
11.2 Banking, financial services and insurance
11.3 Government
11.4 Manufacturing
11.5 Telecom and IT
11.6 Consumer goods and retail
11.7 Health and Life Sciences
11.8 Energy and Utilities
11.9 Transport and logistics
11.10 Other Vertical Markets

12 Human Capital Management Market, by Region

13 Competitive landscape
13.1 Presentation
13.2 Market Assessment Framework
13.3 Major Vendors Market Share
13.4 Major Vendor Revenue Analysis
13.5 Business Rating Quadrant
13.5.1 Definitions and methodology
13.5.2 Star
13.5.3 Emerging Leader
13.5.4 Omnipresent
13.5.5 Participant
13.6 SME Assessment Quadrant
13.6.1 Definitions and methodology
13.6.2 Progressive Providers
13.6.3 Responsive Suppliers
13.6.4 Dynamic Providers
13.6.5 Starting Blocks
13.7 Competitive Benchmarking
13.8 Competitive Scenario
13.8.1 Product Launches and Product Enhancements
13.8.2 Extensions
13.8.3 Partnerships, agreements and collaborations
13.8.4 Mergers and Acquisitions

14 company profiles
14.1 Presentation
14.2 Key Companies
14.2.1 Working day
14.2.2 Oracle
14.2.3 Adp
14.2.4 Sap
14.2.6 IBM
14.2.7 Ultimate Software
14.2.8 Ceridian
14.2.9 Total sum
14.2.10 Chronos
14.3 Other companies
14.3.1 Talentsoft (now ‘Cegid’)
14.3.2 Employwise
14.3.3 People Strategy
14.3.4 Information
14.3.5 On-Demand Cornerstone
14.3.6 Meta4
14.3.7 Ramco Systems
14.3.8 Bamboo
14.3.9 Namely
14.3.10 Labor software
14.3.11 zoho
14.3.12 Wise Group
14.3.13 Epicor software
14.3.14 Zenefits
14.3.15 Paylocity
14.3.16 Enthusiasm
14.3.17 bitrix
14.3.18 Focus on benefits
14.3.19 Webhr
14.3.20 Talentia software
14.3.21 People are talking
14.3.22 Hcm Vibe
14.3.23 Ripple
14.3.24 Ascent
14.3.25 Bizmerlinhr

15 Adjacent market and related market

16 Appendix

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