About HCM Suite Application
The increasing number of organization infrastructure, the rapid growth in the manpower in the industries which leads to increasing requirement of HCM Suite Applications. This is a help to getting traction of global HCM suite application market in the forecasted period. Buyers widely choose cloud-based systems owing to reduced maintenance charges, flexibility in terms of usage, and elimination of installation time and costs. HCM suites also typically have technologies that cut across functional areas, notably analytics, social media, collaboration, and employee engagement. Many also allow mobile access to HR data and applications, especially self-service features.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia- Pacific |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global HCM Suite Application market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Workday (United States), Oracle (United States), SAP (United States), Ceridian (United States), ADP (United States), Kronos (United States), Globoforce (United States), FinancialForce (United States), GE API Healthcare (United States) and Infor (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Ramco Systems (India), Unit4 (Netherlands), Paycor (United States), ZingHR (India), Sopra Steria (France) and NGA Human Resources (United Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global HCM Suite Application market by , Application (Manufacturing, Retail, Financial, Government and Others) and Region.
On the basis of geography, the market of HCM Suite Application has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Deployment Mode, the sub-segment i.e. Cloud-based will boost the HCM Suite Application market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Function, the sub-segment i.e. Core HR will boost the HCM Suite Application market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organization Size, the sub-segment i.e. SME (Small and Medium Enterprises) will boost the HCM Suite Application market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Fueling Demand for Mobile HCM Applications and Emergence of Predictive Analytics in HR Processes
Market Growth Drivers:
High Adoption Due To Simplified Management of Geologically Spread Staff and Growing Demand for Talent Mobility
Challenges:
Organizations Resistant To Change Traditional Approach or Adopt New Solutions and Prevalent Concerns about Deployment and Usage
Restraints:
Growing Security Concern Regarding HCM Suite Applications
Opportunities:
High Demand For Cloud Base HCM Applications and Growing Demand for Emerging Market
Market Leaders and their expansionary development strategies
On 10th July 2019, Oracle Corporation Japan has announced that TACHI-S Co., Ltd., a leading independent automobile seat supplier, which handles everything from seat design and development to manufacturing, has selected Oracle Human Capital Management (HCM) Cloud to solidify the future of its global HR development.
Oracle launched Oracle Analytics for Cloud HCM, a self-service application designed to provide more detailed workforce intelligence by gathering data from across the organization.
Key Target Audience
Human Capital Management Suite Application Providers, Technical Universities, System Integrators, Managed Security Service Providers, Professional Service Providers, Research and Development Companies, Market Research and Consulting Firms, Solution Providers, Technology Standards Organizations, Technology Investors, System Integrators and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.