The Human Capital Management Marketis expected to grow at a CAGR of around 11% during 2021-2026. The report provides a detailed analysis of the market by Component, Deployment Type, Industry Verticals, Region. Report Metric Historical: 2015-2020Base Year: 2020Forecast Year: 2021-2026 Download free sample of the report: https://www.imarcgroup.com/human-capital-management-market/requestsample Industry Definition and Application: Human capital management (HCM) […]
Growth Projections for the Human Capital Management Market Through 2026
The Human Capital Management Marketis expected to grow at a CAGR of around 11% during 2021-2026. The report provides a detailed analysis of the market by Component, Deployment Type, Industry Verticals, Region.
Report Metric
Historical: 2015-2020
Base Year: 2020
Forecast Year: 2021-2026
Download free sample of the report: https://www.imarcgroup.com/human-capital-management-market/requestsample
Industry Definition and Application:
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.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends and Drivers:
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 Segmentation:
The report has segmented the market on the basis of Component, Deployment Type, Industry Verticals, Region.
- Software
- Core HR
- Recruiting
- Workforce Management
- Compensation and Payroll
- Others
- Managed Service
- Professional
Breakup by Deployment Type:
- Cloud-based
- On-premises
Breakup by Industry Verticals:
- BFSI
- Retail
- IT and Telecommunication
- Healthcare
- Hospitality
- Government
- Manufacturing
- Others
Breakup by Region:
- North America
- United States
- Canada
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Brazil
- Mexico
- Others
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Who are the Major Human Capital Management Market Key players?
The report provides a detailed analysis of Human Capital Management Marketleaders, including.
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.
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