The Global Human Capital Management (HCM) Market is expected to grow steadily at a CAGR of 8% during the forecast period 2021-2026


Expert Market Research’s new report titled “Human Capital Management (HCM) Market Report and Forecast 2021-2026”, gives an in-depth analysis of the Human Capital Management (HCM) Market, assessing the market based on its segments such as supply, deployment, company size, end-use, and major regions like Asia-Pacific, Europe, North America, the Middle East, Africa and Latin America. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.

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Key highlights of the report include:

Market Overview (2021-2026)

  • Historical market size: USD 17.56 billion (2020)
  • Expected CAGR (2021-2026): 8%.
  • Forecast market size: USD 30.05 billion (2027)

The growth of the market is mainly driven by the rapid evolution of technology. The growing demand for automated recruitment processes is a key driver for the growth of the global HCM solutions market. Advances such as artificial intelligence and the convergence of machine learning technologies have made HCM solutions capable of automating recruitment processes. Automated HCM systems help to significantly reduce the time, effort, and overall costs associated with the recruiting process. Growing demand for effective management of key HR functions, such as recruitment, employee training, scheduling, payroll, internal relations, benefits management and protection, and enforcement, is increasing the demand for solutions functional HR software.

Industry definition and major segments

Human capital management is a set of practices related to human resource management that focus on the organizational need to provide specific skills. These practices are implemented in three main categories: workforce acquisition, human capital management, and workforce optimization. Human capital management is an approach to staffing that recognizes people as assets as human capital. In human capital management, the present value of human capital can be measured and its future value can be enhanced through investment.

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Based on the offer, the market can be divided as follows:

Based on deployment, the industry can be divided into:

According to the size of the company, the market can be divided as follows:

Based on the end use, the market can be categorized into the following sectors:

  • IT and Telecommunications
  • BFSI
  • Government
  • Detail
  • Health care
  • Education
  • Manufacturing
  • Others

Based on regional markets, the industry is divided into:

1 North America
1.1 United States of America
1.2 Canada
2.1 Germany
2.2 United Kingdom
2.3 France
2.4 Italy
2.5 Others
3 Asia-Pacific
3.1 China
3.2 Japan
3.3 India
3.5 Others
4 Latin America
4.1 Brazil
4.2 Argentina
4.3 Mexico
4.4 Others
5 Middle East and Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.3 Nigeria
5.4 South Africa
5.5 Others

Market trends

In the historic era, North America has been among the leading regions in the global Human Capital Management (HCM) industry, and during the forecast period, the region is also expected to witness robust growth. The increase in the number of job seekers due to globalization and urbanization, the wider penetration of social media in recruitment processes and the growing need for cost optimization will have a significant impact on management solutions. Region Market HR Over the forecast period, a large portion of the global demand growth would come from North America.

Asia-Pacific is expected to grow rapidly in the future due to the presence of developing economies like China and India. Increase in government policies to encourage digitization of business processes and adoption of cloud-based systems can also be attributed to the growth. Due to better remuneration, the regional population is increasingly moving from the agricultural or manufacturing sector to the service sector, which further stimulates the growth of regional demand.

Main market players

Major market players are Oracle Corporation, SAP SE, ADP Inc, Ceridian HCM Inc, Infor, among others. The report covers market shares, capacities, plant rotations, expansions, investments, mergers and acquisitions, among other latest developments of these market players.

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* At Expert Market Research, we always strive to give you the latest information. The figures in the article are only indicative and may differ from the actual report.

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