Market Overview:
The global human capital management market size reached US$
20.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$
34.3 Billion by 2027, exhibiting a growth rate (CAGR) of
8.47% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Human capital management (HCM) refers to a set of practices used for recruiting, managing, developing, optimizing, and increasing the value of employees within the company. It covers a wide range of core administrative and strategic practices and processes, such as payroll, training, compliance, onboarding, workforce planning, compensation planning, and performance management. It also comprises benefits administration, time and attendance, workflow management, reporting and analytics, employee service and self-service, and retirement services. Nowadays, organizations across the world are adopting HCM solutions that provide specific competencies to manage employees effectively and increase overall productivity.
Human Capital Management Market Trends:
Digitization of business processes represents one of the major factors encouraging enterprises to opt for HCM solutions. These solutions minimize manual efforts required for performing time-consuming tasks in the human resource (HR) department. Moreover, significant growth in the e-commerce sector is positively influencing the demand for HCM software to drive engagement and business value. The market is also influenced by the coronavirus disease (COVID-19) outbreak and the implementation of lockdown in numerous countries by governing agencies, which has propelled individuals to shift to online platforms for ordering essential items and adhering to social distancing measures. Apart from this, leading companies are offering HCM technologies in the cloud using a software-as-a-service (SaaS) delivery model. This approach accelerates deployment, turns variable capital expenses into fixed and transparent operating expenses, lowers infrastructure costs, and drives agility by speeding and simplifying upgrade paths. In addition, the increasing focus on an agile workplace that can drive staff coordination and quickly find thousands of suitable resumes and data points is driving the demand for HCM solutions around the globe.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global human capital management market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, deployment type and industry verticals.
Breakup by Component:
- Software
- Core HR
- Recruiting
- Workforce Management
- Compensation and Payroll
- Others
- Service
- Managed Service
- Professional
Breakup by Deployment Type:
Breakup by Industry Verticals:
- BFSI
- Retail
- IT and Telecommunication
- Healthcare
- Hospitality
- Government
- Manufacturing
- Others
Breakup by Region:
- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
Report Coverage:
| Report Features |
Details |
|---|
| Base Year of the Analysis |
2021 |
| Historical Period |
2016-2021 |
| Forecast Period |
2022-2027 |
| Units |
US$ Billion |
| Segment Coverage |
Component, Deployment Type, Industry Verticals, Region |
| Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered |
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. |
| Customization Scope |
10% Free Customization |
| Report Price and Purchase Option |
Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499 |
| Post-Sale Analyst Support |
10-12 Weeks |
| Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the global human capital management market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global human capital management market?
- What are the key regional markets?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on the deployment type?
- What is the breakup of the market based on the industry verticals?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global human capital management market and who are the key players?
- What is the degree of competition in the industry?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Human Capital Management Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Component
6.1 Software
6.1.1 Market Trends
6.1.2 Key Segments
6.1.2.1 Core HR
6.1.2.2 Recruiting
6.1.2.3 Workforce Management
6.1.2.4 Compensation and Payroll
6.1.2.5 Others
6.1.3 Market Forecast
6.2 Service
6.2.1 Market Trends
6.2.2 Key Segments
6.2.2.1 Managed Service
6.2.2.2 Professional
6.2.3 Market Forecast
7 Market Breakup by Deployment Type
7.1 Cloud-based
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 On-premises
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Industry Verticals
8.1 BFSI
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Retail
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 It and Telecommunication
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Healthcare
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Hospitality
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Government
8.6.1 Market Trends
8.6.2 Market Forecast
8.7 Manufacturing
8.7.1 Market Trends
8.7.2 Market Forecast
8.8 Others
8.8.1 Market Trends
8.8.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Automatic Data Processing Inc.
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.1.4 SWOT Analysis
14.3.2 Ceridian HCM Inc.
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.3 Infor Inc. (Koch Industries Inc.)
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.4 International Business Machines Corporation
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 Financials
14.3.4.4 SWOT Analysis
14.3.5 Microsoft Corporation
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.5.4 SWOT Analysis
14.3.6 Oracle Corporation
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.6.4 SWOT Analysis
14.3.7 PeopleFluent Inc. (Learning Technologies Group plc)
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.8 Ramco Systems Limited
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.8.3 Financials
14.3.9 SAP SE
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.9.4 SWOT Analysis
14.3.10 SumTotal Systems LLC (Skillsoft Limited)
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.11 UKG Inc.
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.11.3 SWOT Analysis
14.3.12 Workday Inc.
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
14.3.12.3 Financials
14.3.12.4 SWOT Analysis
List of Figures
Figure 1: Global: Human Capital Management Market: Major Drivers and Challenges
Figure 2: Global: Human Capital Management Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Human Capital Management Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Human Capital Management Market: Breakup by Component (in %), 2021
Figure 5: Global: Human Capital Management Market: Breakup by Deployment Type (in %), 2021
Figure 6: Global: Human Capital Management Market: Breakup by Industry Verticals (in %), 2021
Figure 7: Global: Human Capital Management Market: Breakup by Region (in %), 2021
Figure 8: Global: Human Capital Management (Software) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Human Capital Management (Software) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Human Capital Management (Service) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Human Capital Management (Service) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Human Capital Management (Cloud-based) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Human Capital Management (Cloud-based) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Human Capital Management (On-premises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Human Capital Management (On-premises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Human Capital Management (BFSI) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Human Capital Management (BFSI) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Human Capital Management (Retail) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Human Capital Management (Retail) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Human Capital Management (IT and Telecommunication) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Human Capital Management (IT and Telecommunication) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Human Capital Management (Healthcare) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Human Capital Management (Healthcare) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Human Capital Management (Hospitality) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Human Capital Management (Hospitality) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Human Capital Management (Government) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Human Capital Management (Government) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Human Capital Management (Manufacturing) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Human Capital Management (Manufacturing) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: Human Capital Management (Other Industry Verticals) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Human Capital Management (Other Industry Verticals) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: North America: Human Capital Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: North America: Human Capital Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: United States: Human Capital Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: United States: Human Capital Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Canada: Human Capital Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Canada: Human Capital Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Asia-Pacific: Human Capital Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Asia-Pacific: Human Capital Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: China: Human Capital Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: China: Human Capital Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Japan: Human Capital Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Japan: Human Capital Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: India: Human Capital Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: India: Human Capital Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: South Korea: Human Capital Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: South Korea: Human Capital Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Australia: Human Capital Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Australia: Human Capital Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Indonesia: Human Capital Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Indonesia: Human Capital Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Others: Human Capital Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Others: Human Capital Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Europe: Human Capital Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Europe: Human Capital Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Germany: Human Capital Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Germany: Human Capital Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: France: Human Capital Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: France: Human Capital Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: United Kingdom: Human Capital Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: United Kingdom: Human Capital Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Italy: Human Capital Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Italy: Human Capital Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Spain: Human Capital Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Spain: Human Capital Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Russia: Human Capital Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Russia: Human Capital Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Others: Human Capital Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Others: Human Capital Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Latin America: Human Capital Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Latin America: Human Capital Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Brazil: Human Capital Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Brazil: Human Capital Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Mexico: Human Capital Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: Mexico: Human Capital Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Others: Human Capital Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: Others: Human Capital Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: Middle East and Africa: Human Capital Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 79: Middle East and Africa: Human Capital Management Market: Breakup by Country (in %), 2021
Figure 80: Middle East and Africa: Human Capital Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 81: Global: Human Capital Management Industry: SWOT Analysis
Figure 82: Global: Human Capital Management Industry: Value Chain Analysis
Figure 83: Global: Human Capital Management Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Human Capital Management Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Human Capital Management Market Forecast: Breakup by Component (in Million US$), 2022-2027
Table 3: Global: Human Capital Management Market Forecast: Breakup by Deployment Type (in Million US$), 2022-2027
Table 4: Global: Human Capital Management Market Forecast: Breakup by Industry Verticals (in Million US$), 2022-2027
Table 5: Global: Human Capital Management Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Human Capital Management Market: Competitive Structure
Table 7: Global: Human Capital Management Market: Key Players