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According to the latest report by IMARC Group, titled “Human Capital Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the market to grow at a CAGR of around 11% during 2021-2026.
Human capital management (HCM) stands for a set of practices that are utilized for recruiting, assessing, optimizing, developing, and improving the value of employees within an organization. It covers various core administrative and strategic processes, including payroll, training, compliance, onboarding, workforce planning, performance management, etc. Human capital management comprises of several components, such as benefits administration, time and attendance, workflow management, reporting and analytics, employee service and self-service, retirement services, etc. Numerous organizations are employing HCM solutions as they offer specific competencies to manage employees effectively while enhancing the overall productivity.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Human Capital Management Market Trends:
The increasing digitization of business processes is primarily driving the global human capital management market. Moreover, the expanding e-commerce industry, where customer engagement and retention are critical, is also catalyzing the product demand. Apart from this, shifting preferences towards online platforms for ordering essential items owing to the sudden outbreak of the COVID-19 pandemic are augmenting the HCM market. Additionally, numerous leading companies are providing HCM services over cloud-based platforms by using Software-as-a-Service (SaaS) delivery model. In the coming years, the rising focus on creating an agile workplace, which assists in analyzing thousands of suitable resumes and ensuring staff coordination, is expected to fuel the human capital management market across the globe.
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Human Capital Management Market 2021-2026 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Automatic Data Processing Inc., Ceridian HCM Inc., Infor Inc. (Koch Industries Inc.), International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, PeopleFluent Inc. (Learning Technologies Group plc), Ramco Systems Limited, SAP SE, SumTotal Systems LLC (Skillsoft Limited), UKG Inc. and Workday Inc.
The report has segmented the market on the basis on region, disc type, material type and end user.
Breakup by Component:
Breakup by Deployment Type:
Breakup by Industry Verticals:
Breakup by Region:
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Key highlights of the report:
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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