About Human Capital Management -
Human capital management (HCM) denotes an essential function within organizations that concentrates on the recruitment, management, development, and optimization of an organization’s human resources. It includes talent acquisition, learning and development, performance management, compensation planning, and workforce planning. HCM has broad applications in recruitment, onboarding, training, career development, succession planning, time tracking, employee scheduling, payroll, benefits administration, and compliance management. It improves productivity, boosts employee engagement, creates a collaborative environment, lowers administrative costs, delivers real-time insights, encourages compliance, and facilitates strategic planning. Moreover, the rising adoption of HCM to align human resources with organizational goals is contributing to the market growth. Along with this, the increasing utilization of HCM by small and medium enterprises (SMEs) is acting as another growth-inducing factor.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
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 Global Vendors will contribute the maximum growth to Global Human Capital Management market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future. Analyst at AMA Research estimates that Global Players will contribute the maximum growth to Global Human Capital Management - 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.
Automatic Data Processing Inc. (ADP) (United States), Ceridian HCM Inc. (United States), Infor Inc. (Koch Industries Inc.) (United States), International Business Machines Corporation (IBM) (United States), Microsoft Corporation (United States), Oracle Corporation (United States), PeopleFluent Inc. (Learning Technologies Group plc) (United States), Ramco Systems Limited (Chennai, India), SAP SE (Walldorf, Germany) and Workday Inc. (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 SumTotal Systems LLC (Skillsoft Limited) (United States), UKG Inc. (United States) and Paycom Payroll LLC (United States).
Segmentation Overview
AMA Research has segmented the market of Global Human Capital Management - market by and Region.
On the basis of geography, the market of Human Capital Management - 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). If we see Market by Components, the sub-segment i.e. Software will boost the Human Capital Management - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment Type, the sub-segment i.e. Cloud-based will boost the Human Capital Management - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Verticals, the sub-segment i.e. BFSI will boost the Human Capital Management - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rise in organizations looking to improve employee engagement
Market Growth Drivers:
Growing demand for automation and Rise in the adoption of cloud-based solutions
Challenges:
The shortage of skilled HR professionals and data scientists
Restraints:
Complexity in integrating HCM solutions with existing HR systems
Opportunities:
Integration of technologies, including artificial intelligence (AI), machine learning (ML)
Market Leaders and their expansionary development strategies
On December 18, 2024, Criterion HCM announced a partnership with Procore, a leader in construction management software. This collaboration aims to launch a new integration that enhances human capital management capabilities for the construction industry, allowing for streamlined workflows and improved project management
In October 2204, Frontline Education announced plans for the next phase of its Human Capital Management (HCM) journey during the AASPA (American Association of School Personnel Administrators) human resources conference. With a commitment to transforming workforce management in education so administrators can fulfil their district missions and bring the best possible education to students, Frontline is excited to share its vision and product roadmap tailored to the unique needs of K-12 institutions nationwide.
Key Target Audience
Manufacturers Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations, End-Use Industries 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.