Global Human Capital Management Market (2018-2023)

The global human capital management (HCM) market is expected to be worth USD 29.9 billion by 2023, expanding at a CAGR of 8.7%. Automation in the administration of employees, policies, and procedures in regional as well as global firms is a crucial driver for the HCM market. A significant share of the market is dominated by large global players such as SAP, Oracle, Workday, Ramco, ADP, Microsoft, Ultimate Software, and Cornerstone. These companies are focusing on acquiring smaller vendors to provide end-to-end solutions in all categories to the customers.
Segmentation based on component
HCM software accounted for 66.5% of the overall market revenue in 2018, mainly driven by the demand for cloud-based SaaS applications. Pricing flexibility has acted as the key driving force of growth in software and has led to the movement of on-premises or datacenter customers to SaaS-based HR software. Services segment includes various aftersales activities such as maintenance, upgradation, agreement renewal, and consultation. The market share of this segment is estimated to increase by 7% from 2018 to 2023 owing to rising demand for migration services, extension, and plug-in development.
Segmentation based on software
Based on software, the HCM market is segmented by core HR, payroll & compensation management, performance management, learning, talent acquisition, workforce management, benefits administration, and others. Workforce management software dominated the global market, with a market size of USD 4.4 billion in 2018. Augmented need for automation in absence & leave management and time & attendance tracking has bolstered the demand for workforce management software. The learning software segment is anticipated to witness a significant increase in market share, expanding at a CAGR of 12.8% from 2018 to 2023. Spurring demand for self-directed agile learning tools, next-generation learning management systems, and micro-learning platform have been key trends over the past few years.
Segmentation based on deployment type
Based on the deployment type, the cloud-based HCM solutions achieved the largest share of the global market, garnering a market size of USD 15.4 billion in 2018. Flexibility, cost-effectiveness, easy accessibility, and adaptability across platforms have motivated the demand for cloud-based HCM software more than the on-premises segment to maintain HR operations across offices located in different geographies.
Segmentation based on organization size
Based on organization size, the HCM market is categorized into large and SME. Large enterprises with more than 2,500 employees were the early consumers of HCM solutions; however, the SME segment with employees less than 2,500 has emerged rapidly and accounted for a market share of 52.5% in 2018. The market is anticipated to witness a promising trend in the SME segment, especially in emerging economies.
Segmentation based on vertical
Manufacturing, energy & utilities, consumer goods & retail, healthcare, transportation, telecom & IT, and BFSI are the major industry verticals adopting HCM solutions. The HCM market is expected to witness a spurring demand from government and manufacturing sectors. The shift of workforce from baby boomers to millennial is projected to encourage the adoption of HCM solutions to automate talent acquisition and workforce management operations. The demand from the manufacturing vertical is expected to reach USD 3.8 billion in 2023.
Regional insights
North America became the largest consumer of HCM solutions in 2018, accounting for 56.5% of the market share and is predicted to continue to be the leading regional segment over the forecast period. A group of software vendors, customers, developers, and system integrators has encouraged the high market share of the region. The Asia-Pacific region is estimated to experience a significant gain in market share of 3.3% from 2018 to 2023. The rise of corporate culture owing to the expanding footprint of global companies in emerging economies like China, India, and the ASEAN countries is expected to drive the market growth in the Asia Pacific.
Companies covered
• Oracle
• ADP
• SAP SE
• Workday, Inc.
• Ultimate Software Group, Inc.
• Kronos Incorporated
• Ceridian HCM, Inc.
• IBM Corporation

Customizations available:
With the given market data, Research On Global Markets offers customizations according to specific needs. Write to us at [email protected], or connect with us here.
Chapter 1: Executive summary 
1.1. Key Question Answered In the Study
1.2. Market Definition
1.3. Executive Summary

Chapter 2: Global HCM - assumptions and research methodology
2.1. Market taxonomy - segment definitions
2.2. Research methodology (list of primary and secondary sources)
2.3. Assumptions

Chapter 3: Global HCM market - insights
3.1. Global HCM market - market guideline

Chapter 4: Global HCM market - overview
4.1. Global market drivers
4.2. Global market trends
4.4. Global market opportunities
4.4. Global market challenges

Chapter 5: Global HCM market - based on component
5.1. Software market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations
5.2. Services market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations

Chapter 6: Global HCM market - based on software
6.1. Core HR market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations
6.2. Payroll & compensation management market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations
6.3. Performance management market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations
6.4. Learning market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations
6.5. Talent acquisition market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations
6.6. Workforce management market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations
6.7. Benefit administration market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations
6.8. Other software market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations

Chapter 7: Global HCM market - based on deployment type
7.1. Cloud market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations
7.2. On-premises market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations

Chapter 8: Global HCM market - based on organization size
8.1. Large enterprise market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations
8.2. SME market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations

Chapter 9: Global HCM market - based on vertical
9.1. Government market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations
9.2. Manufacturing market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations
9.3. Energy & utilities market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations
9.4. Consumer goods & retail market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations
9.5. Healthcare market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations
9.6. Transportation & logistics market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations
9.7. Telecom & IT market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations
9.8. BFSI market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations
9.9. Other verticals market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations

Chapter 10: Global HCM market - based on region
10.1. North America market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations
10.2. Europe market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations
10.3. Asia Pacific market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations
10.4. Latin America market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations
10.5. The Middle East & Africa market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), market key market observations

Chapter 11: Competitive landscape
11.1. Oracle
11.1.a. Company snapshot
11.1.b. Product offerings
11.1.c. Geographical presence
11.1.d. Key numbers
11.1.e. Recent developments & strategic initiatives
11.2.a. Company snapshot
11.2.b. Product offerings
11.2.c. Geographical presence
11.2.d. Key numbers
11.2.e. Recent developments & strategic initiatives
11.3.a. Company snapshot
11.3.b. Product offerings
11.3.c. Geographical presence
11.3.d. Key numbers
11.3.e. Recent developments & strategic initiatives
11.4.a. Company snapshot
11.4.b. Product offerings
11.4.c. Geographical presence
11.4.d. Key numbers
11.4.e. Recent developments & strategic initiatives
Ultimate Software Group, Inc.
11.5.a. Company snapshot
11.5.b. Product offerings
11.5.c. Geographical presence
11.5.d. Key numbers
11.5.e. Recent developments & strategic initiatives
Kronos Incorporated
11.6.a. Company snapshot
11.6.b. Product offerings
11.6.c. Geographical presence
11.6.d. Key numbers
11.6.e. Recent developments & strategic initiatives
11.7.a. Company snapshot
11.7.b. Product offerings
11.7.c. Geographical presence
11.7.d. Key numbers
11.7.e. Recent developments & strategic initiatives
11.8.a. Company snapshot
11.8.b. Product offerings
11.8.c. Geographical presence
11.8.d. Key numbers
11.8.e. Recent developments & strategic initiatives
Chapter 12: Conclusion

Chapter 13: Appendix
13.1. List of tables
13.2. Research methodology
13.3. About Netscribes Inc.

Global Heavy Duty Conveyor Belts Market Research Report 2019-2023

Published Date : Jul 2019

Heavy Duty Conveyor Belts include Multiply Fabric Conveyer Belts, Steel Cord Conveyor Belts, Solid Woven Conveyor Belts and more. In the context of China-US trade war and global economic volatility and uncertainty, it will have a big influence on this market. Heavy Duty Conveyor Belts Report by Mate...

Global Choroidal Neovascularization Market Research Report 2019-2023

Published Date : Jul 2019

Neovascularization is the natural formation of new blood vessels, usually in the form of functional microvascular networks, capable of perfusion by red blood cells, that form to serve as collateral circulation in response to local poor perfusion or ischemia. In the context of China-US trade war and ...

Global Cupferron Market Research Report 2019-2023

Published Date : Jul 2019

Cupferron, the ammonium salt of N-nitroso-N-phenylhydroxylamine, is a common reagent for the complexation of metal ions. In the context of China-US trade war and global economic volatility and uncertainty, it will have a big influence on this market. Cupferron Report by Material, and Geography - Glo...

Global Cyclospora Diagnostic Testing Market Research Report 2019-2023

Published Date : Jul 2019

Cyclospora infection is diagnosed by examining stool specimens. In the context of China-US trade war and global economic volatility and uncertainty, it will have a big influence on this market. Cyclospora Diagnostic Testing Report by Material, and Geography - Global Forecast to 2023 is a professiona...

Global DNA Vaccines Market Research Report 2019-2023

Published Date : Jul 2019

DNA vaccination is a technique for protecting an animal against disease by injecting it with genetically engineered DNA so cells directly produce an antigen, resulting in a protective immunological response. In the context of China-US trade war and global economic volatility and uncertainty, it will...

Global Chemiluminiscence Imaging Market Research Report 2019-2023

Published Date : Jul 2019

Chemiluminescence is the most popular Western blot detection method because of its high level of sensitivity, and imaging systems geared toward use with the technique are available to further optimize speed, sensitivity, signal stability, and ease of use. In the context of China-US trade war and glo...

Global Cardiovascular Therapy Market Research Report 2019-2023

Published Date : Jul 2019

Cardiac Therapy is a effective, non-invasive treatment for Angina Symptoms of Chest Pain, Shortness of Breath & Fatigue. In the context of China-US trade war and global economic volatility and uncertainty, it will have a big influence on this market. Cardiovascular Therapy Report by Material, and Ge...

Global Connected Agriculture Market Research Report 2019-2023

Published Date : Jul 2019

Connected agriculture technology is the advanced version of information and mobile communication technology. In the context of China-US trade war and global economic volatility and uncertainty, it will have a big influence on this market. Connected Agriculture Report by Material, and Geography - Glo...

Global Corn Wet Milling Market Research Report 2019-2023

Published Date : Jul 2019

Corn wet milling and dry milling are the predominant methods of processing and each method produces distinct co-products. In the context of China-US trade war and global economic volatility and uncertainty, it will have a big influence on this market. Corn Wet Milling Report by Material, and Geograp...

Global Data Centre Cooling Solutions Market Research Report 2019-2023

Published Date : Jul 2019

The companies within Systemair develop and deliver reliable data centre cooling concepts. In the context of China-US trade war and global economic volatility and uncertainty, it will have a big influence on this market. Data Centre Cooling Solutions Report by Material, and Geography - Global Forecas...

 

Select License :

  • Single User : $2950

Happy To Assist You

Assist you at Worldwide Market Reports

We will be happy to help you find what you need. Please call us or write to us:

Worldwide Market Reports Benefits

Custom Research Solution

Talk to our research consultant to design an exclusive report as per your research needs.

Customer Fulfilment

We aim to fulfil client's research demands with tailored research solutions.

Quick Turnaround Time Reports

We aim to provide research studies in quickest turnaround time and in a much cost effective manner.

360-degree Approach

We cover each industry from supply and demand side with an aim to provide a most holistic research study.