Human Capital Management Market Size, Key Factors, Major Players, Growth Strategies, Trends, Forecast Till 2028

Rising demand for cloud-based business models and talent mobility for workforce planning, as well as increasing integration of Robot Process Automation with HR solutions, are key factors driving market revenue growth.

According to the most recent Emergen Research analysis, the global Human Capital Management (HCM) market reached USD 18.04 billion in 2020 and is expected to grow at a 7.9% CAGR during the forecast period. Cloud-based Human Capital Management (HCM) solution adoption is expected to drive market revenue growth between 2021 and 2028. Furthermore, increasing the integration of Robot Process Automation (RPA) with HR solutions will drive market growth. Currently, there is a high demand for cloud-based business models and talent mobility for workforce planning.

Human capital management (HCM) is the set of practises used by an organisation to recruit, manage, develop, and optimise employees in order to increase their value to the company. When done correctly, human capital management produces:

Finding the right people

Having all necessary skill sets in the workforce

Effective employee management

Boosting Productivity

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Human capital management is the management of an organization’s employees in order for them to significantly contribute to the overall productivity of the organisation. In layman’s terms, managing an organization’s workforce refers to human capital management. Human capital management is defined as the process of acquiring, training, managing, and retaining employees so that they can contribute effectively to the organization’s processes. Human capital management is the process of improving an employee’s existing skills and getting the most out of him or her.

HCM is one of the most critical aspects of your company. Your company will struggle to grow if you don’t understand your employees, their needs, and how they affect your business. Employees are one factor that makes companies great; HCM is a department that ensures workers are happy, prepared, and ready to face challenges.

Human Capital Management Market Competitive Landscape:

Microsoft Corporation, Workday, Inc., Automatic Data Processing, Inc., Ceridian HCM, Inc., Oracle Corporation, Cornerstone OnDemand, Inc., Ultimate Software Group, Inc., International Business Machines Corporation, SumTotal Systems, Inc., and Kronos Incorporated.

Human Capital Management Market Segmentation:

Emergen Research has segmented global Human Capital Management (HCM) on the basis of offering, deployment, organization size, end-use, and region:

Offering Outlook (Revenue, USD Billion; 2018–2028)

Software

Payroll Management

Workforce Management

Talent Management

Applicant Tracking System

Core HR

HR Analytics

Services

Deployment Outlook (Revenue, USD Billion; 2018–2028)

On-premises

Cloud

Organization Size Outlook (Revenue, USD Billion; 2018–2028)

Large Enterprises

Small and Medium-sized Enterprises (SMEs)

End-use Outlook (Revenue, USD Billion; 2018–2028)

Telecom & IT

Healthcare

Government

BFSI

Manufacturing

Transportation & Logistics

Education

Hospitality

Media and Entertainment

Retail

Others

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