Human Capital Management Market - Snapshot
Human capital managementis a set of practices related to human resource management. These practices are concentrated on the needs of organizations to provide specific capabilities and are implemented in three categories: acquisition, management, and optimization. Human capital management is also an all-inclusive set of solutions that helps companies implement complete recruitment-to-retire HR processes that support their long-term business strategy.HCM includes scalable, flexible, and easy-to-integrate solutions that allow customers to control their existing technology investments. It helps clientsto achieve low total cost of ownership. In addition, HCM enables companies to leverage their existing technology investments and choose to expand their human capital management capabilities with the functionality they need and when they need it. The solution set accommodates multiple languages, currencies, banks, tax definitions, benefits, and security configurations. HCM software helps to improve business management efficiency. This is due to easy integration of the HCM function into other aspects of business management. Most HCM software has modules that can be included or not according to enterprise requirements and it is also possible to link external software such as accounting and other reporting software to streamline all aspects of business management. HR software solutions also improve enterprise security by reducing the amount of paperwork and related security risks.
The global human capital management market has been segmented in terms of deployment, enterprise size, solution, industry, and region. In terms of deployment, the market has been segmented into cloud, on-premise, and hybrid. The global market is divided by enterprise size intosmall & medium enterprises (SME’s) and large enterprise. The small and medium enterprises (SME’s) segment comprises the income generated from the sale of human capital managementto enterprise/companies with strength of 1-500 employees. Large enterprise segment reflects the revenue generated from the sale of human capital management to enterprise/companies with a labor force of more than 500 employees. In large enterprises, adoption of human capital management is already high as it is a cost effective process. Based on solution, the global human capital management market is categorized into software and services. On the basis of industry, the market is divided into banking, financial services, and insurance (BFSI), telecom and IT, transportation & logistics, healthcare, manufacturing and others. Geographically, the market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The North America region is dominant in the adoption of human capital management. The high adoption of digital technology across all major verticals helps the market to grow in North America, particularly in the U.S and Canada. The market is in the emerging stage in the regions of Asia Pacific (APAC), Latin America, and Middle East & Africa (MEA). Therefore, these regions offer immense scope for the adoption of human capital management solutions. Additionally, the growing technological developments in the field of cloud, analytics, and the emergence of mobile technologies have led to the high adoption of human capital management in major verticals such as banking, financial services, and insurance (BFSI), transportation and logistics, and healthcare
This report on the global human capital managementmarket provides market revenue share analysis of the various vital participants. Some of the key players profiled in the report include 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.
Human Capital Management Market: Overview
The human capital management market report provides analysis for the period 2016 – 2026, wherein the period from 2018 to 2026 is the forecast period and 2017 is the base year. The report covers all the major trends and technologies playing an influential role in the market’s growth over the forecast period. It also highlights the drivers, restraints, and opportunities for the analysis of market growth during the said period. The study provides a complete perspective on the evolution of the global human capital management market throughout the above mentioned forecast period in terms of revenue (US$ Bn).
The market overview section of the report demonstrates market dynamics such as drivers, restraints, and opportunities that influence the current nature and future statusof this market, key market indicators, ecosystem analysis, and pricing analysis. Further, key market indicators included in the report provide the significant factors which are capable of changing the market scenario. These indicators are expected to define the market position during the forecast period and provide an overview of the global human capital management market. A market attractiveness analysis has also been provided for every segment in the report, in order to present a thorough understanding of the overall scenario in the human capital management market. The report also offers an overview of various strategies adopted by key players in the market.
Global Human Capital Management Market: Scope of the Report
On the basis of deployment, the market is segmented into cloud, on premise, and hybrid. Based onenterprise size, the human capital management market is divided into small & medium enterprises (SME’s) and large enterprises. In terms of solution, the market is categorized into software and services.On the basis of industry, the market is divided into banking, financial services, and insurance, IT and telecom, government, transportation & logistics, retail, healthcare, manufacturing, and others.The report covers the analysis of these segments across North America, Europe, Asia Pacific, Middle East & Africa, and South America, along with the qualitative analysis for market estimates supplementing the growth of the human capital management market during the forecast period.
The report also highlights the competitive landscape of the global human capital management market, positioning all the major players according to their presence in different regions of the world and recent key developments initiated by them in the industry. The comprehensive human capital management market estimates are the result of our in-depth secondary research, primary interviews, and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, and technological factors along with the current market dynamics affecting the growth of the human capital management market.
This report provides all the essential information required to understand the key developments in the human capital management market, and growth trends of each segment and region. It includesstrategies of companies, financial information and developments under the company profile section. The report also provides insights related to trends and their impact on the market. Furthermore, Porter’s Five Forces analysis explains the five forces, namely buyers bargaining power, suppliers bargaining power, threat of new entrants, threat of substitutes, and degree of competition in the human capital management market.This report also provides a comprehensive PESTLE analysis for the market.
Global Human Capital Management Market: Research Methodology
The research methodology is a perfect combination of primary research, secondary research, and expert panel reviews. Secondary research sources such as annual reports, company websites, broker reports, financial reports and investor presentations, national government documents, internal and external proprietary databases, statistical databases, relevant patent and regulatory databases, market reports, government publications, World Bank database, and industry white papers are referred.
Primary research involves telephonic interviews, e-mail interactions, and face-to-face interviews for detailed and unbiased reviews on the human capital management market across geographies. Primary interviews are usually conducted on an ongoing basis with industry expertsand participants in order to get the latest market insights and validate the existing data and analysis. Primary interviews offer firsthand information on important factors such as market trends, market size, competitive landscape, growth trends, and outlook. These factors help to validate and strengthen secondary research findings and also help to develop the analysis team’s expertise and market understanding. Moreover, the data collected and analyzed from secondary and primary research is again discussed and examined by our expert panel.
Global Human Capital Management Market: Competitive Dynamics
The global human capital management market report provides company market share analysis of the various key participants. Some of the key players profiled in the report include 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
The human capital management markethas been segmented as below:
Market Segmentation: GlobalHuman Capital Management Market
By Enterprise Size
- Small & Medium Enterprises (SME’s)
- Large Enterprises
- Time & Attendance Management
- Payroll & Compensation Management
- Compliance Management
- Employee Benefits Management
- Portal/employee self-service
- Banking Financial Services & Insurance
- IT & Telecom
- Transportation & Logistics
- Others (Aerospace & Defense, Hospitality)
In addition, the report provides analysis of the human capital management market with respect to the following geographic segments:
- North America
- The U.S.
- Rest of North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America