Human Capital Management Market is Estimated to Grow by 7.14% of CAGR from 2024 to 2032

Human Capital Management Market Highlights

The Human Capital Management market industry is projected to grow from USD 16.50 Billion in 2023 to USD 28.65 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.14% during the forecast period (2024 - 2032). 

In this rapidly changing environment, demand for workforce optimization is ever increasing. The increasing demand for integrated high performance software is driving the human capital management market. Recently a trend towards digital transformation and internet of things (IoT) is observed, this is one of the driving forces of Human Capital Management market.

The Human Capital Management provides many advantages such as organizational management, e-recruitment, personnel administration, time management, and payroll processing and others. These advantages are also responsible for the adoption of Human Capital Management by different organizations. The study indicated that by the rising cyber security threats, the security concerns related to software solutions segment human capital management would result as the restraining factor for the Human Capital Management market.

It has been observed that continuous developments are carried out to make more advancements to the Human Capital Management. As per a recent news Asure Software, a leading provider of Human Capital Management (HCM) and workplace management software has expanded partnership with SafeGuard World, a global employment outsourcing and payroll provider, to deliver highly advanced global payroll solution to new and existing clients to add more advancements to Human Capital Management.

Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “The Human Capital Management Market Research Report -Forecast to 2022”. 

Human Capital Management Market Segmentation

The Human Capital Management market has been segmented on the basis of component, organization size, deployment and end-user. Looking through the component segment it’s been observed that the software solution segment would grow fastest. In the services segment consulting services is expected to grow fastest in the human capital management market. Whereas considering the software solution segment E-recruiting and workforce analytics segment is expected to grow significantly. The study reveals that BFSI sector would grow impressively in the human capital management market by the forecast period. However, considering the deployment segment, the cloud based human capital management shows a significant growth in the market as it influences better access to HCM data, with faster implementation and reduced total cost of ownership. The study reveals that the SMEs segment is expected to grow significantly in the Human Capital Management market by the forecast period.

The prominent players in the Human Capital Management market are- IBM (U.S.), SAP SE (Germany), Software AG (Germany), Workforce Software (U.S.), ADP LLC (U.S.), WORKDAY (U.S.), Oracle Corporation (U.S.), Kronos Inc. (U.S.), LinkedIn (U.S.), Ultimate Software (U.S.), Infor (U.S.), Zenefits (U.S.), Talentsoft (France), among others.

Market Research Analysis:

Regional analysis for Human Capital Management market is studied in different geographic regions as Americas, Europe, Asia-Pacific and Rest of world. It has been observed that North America region would account for larger share in Human Capital Management market. The study indicates that North America region has high cloud penetration, high internet penetration and increasing new-generation employees, this has resulted in the growth of Human Capital Management market in European region.