Global Human Capital Management Market Overview:
Human capital management (HCM) is a set of practices related to people resource management. These practices are focused on the organizational need to provide specific competencies and are implemented in three categories: workforce acquisition, workforce management, and workforce optimization. Human Capital Management (HCM) transforms human resources (HR) departments' traditional administrative functions such as recruiting, training, payroll, compensation, and performance management into opportunities to drive engagement, productivity, and business value. CM views the workforce as more than just a cost of doing business, it is a core business asset whose value, like any other asset, can be maximized through strategic investment and management.t.
Growth Drivers
- Need for reducing HR-related costs fueling the market demand
- Advancements in potential markets
Market Trends
- Increasing adoption of the cloud-based software solutions
Roadblocks
Opportunities
- Increasing use of the advanced technologies AI and ML in HCM suites
Challenges
- Data inconsistency due to the adoption of multiple advanced technologies
Competitive Landscape:
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.
Some of the key players profiled in the report are Workday (United States), Oracle (United States), ADP (United States), SAP (United Kingdom), Microsoft (United States), IBM (United States), Ultimate Software (United States), Ceridian (United States), SumTotal (United States) and Kronos (United States). Additionally, following companies can also be profiled that are part of our coverage like Infor (United States), Talentsoft (France), employs (India) and PeopleStrategy (United States). Analyst at AMA Research see United States Manufacturers to retain maximum share of Global Human Capital Management market by 2026. Considering Market by Deployment Mode, the sub-segment i.e. Cloud-based will boost the Human Capital Management market. Considering Market by Organization Size, the sub-segment i.e. Small and Medium-sized Enterprises (SMEs) will boost the Human Capital Management market. Considering Market by Industry Verticles, the sub-segment i.e. Banking, Financial Services, and Insurance (BFSI) will boost the Human Capital Management market. Considering Market by Component, the sub-segment i.e. Software will boost the Human Capital Management market.
Latest Market Insights:
In March 2021, a Ceridian global leader in human capital management (HCM) technology, today announced it has completed the acquisition of Ascender HCM Pty Limited. Together with Ascender, Ceridian now serves a combined 1,500 customers and 2.5 million employees across 30 countries in the region
NUS Business School will launch a new Master of Science in Human Capital Management & Analytics program in February 2021. To meet industry demand for human resource (HR) professionals skilled in data analytics, the National University of Singapore (NUS) Business School has launched a new Master of Science (MSc) in Human Capital Management & Analytics (MSc HCMA) program.
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be provided prior to purchase
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Human Capital Management market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Human Capital Management market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Human Capital Management Provider, Government Regulatory and Research Organizations and End-Use Industry.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.