Global Demand for Human Capital Management was valued at USD 15.3 Billion in 2018, and is expected to reach USD 27.3 Billion in 2025, growing at a rate of 8.6%
NEW YORK, NEW YORK, UNITED STATES, February 14, 2020 /EINPresswire.com/ — Zion Market Research has published a new report titled “Human Capital Management Market by Component (Software, and Services) by Deployment Type (Cloud, and On-premises) by Organization Size (SMEs, and Large Enterprises) by Industry vertical (IT and Telecom, Government, Consumer Goods and Retail, Manufacturing, BFSI, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 – 2025. “ According to the report, global demand for human capital management market was valued at USD 15.3 Billion in 2018, and is expected to reach USD 27.3 Billion in 2025, growing at a rate of 8.6% between 2019 and 2025.
Browse the full “Human Capital Management Market: by Component (Software, and Services) by Deployment Type Type (Cloud, and On-premises) by Organization Size (SMEs, and Large Enterprises) by Industry vertical (IT and Telecom, Government, Consumer Goods and Retail, Manufacturing, BFSI, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 – 2025.” report at https://www.zionmarketresearch.com/report/human-capital-management-market
Human capital management is a solution to manage and streamline human resource functions. It focused on the need of an organization to provide specific competencies. It includes management of employee information, compensation, payroll, benefits, training & development, and workforce analytics.
Growing demand for workforce optimization is driving the demand for human capital management market. Several factors such as personnel administration, better recruitment, better payroll processing, and advanced time management among others led to the growth of the human capital management market. Further, due to the increasing competition among the organizations and changing business models, various organizations are looking for advanced ways to reduce operational costs and improve efficiency of business processes. The human capital management solution assists by addressing these challenges and offering solutions for diverse HR functions. Concern related to data security is a restraining factor for the growth of human capital management market.
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All the segments of the human capital management market have been analyzed based on the past, present, and future trends. The market is forecasted from 2019 to 2025. Based on components, the global human capital management market is further divided into software, and services. The software component is estimated to hold a substantial chunk of the human capital management market over the coming years considering the growing adoption of software to manage the entire lifecycle of employees integrated with rising need to comply with government regulations. The deployment segment is bifurcated into cloud and on-premises. The on-premises segment is expected to hold a notable share owing to the benefits such as data security, and low ongoing maintenance fee. The organization size segment SMEs, and large enterprises. The large enterprises segment is estimated to grow at a noteworthy rate over the coming years due to factors such as increasing need to improve productivity and manage a large workforce.
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The regional segmentation consists of the past, present, and estimated demand for Middle East & Africa, North America, Asia Pacific, Latin America, and Europe. The regional segment is further divided into the U.S., Mexico, Canada, UK, Germany, France, China, India, Japan, South Korea, Brazil, and Argentina among others. North America region is anticipated to hold a considerable share due to the adoption of cloud natives and presence of a large number of HCM vendors. Moreover, Asia – Pacific is estimated to grow at a notable rate owing to the increasing adoption of cloud computing, and mobility trends in countries such as China, Singapore, Australia, and Japan.
Detailed analysis of the major players in the global human capital management market consists their financial overview, business strategies, latest developments, and the product by them in the market. Key competitors included in this report are Workday, Oracle Corporation, ADP, SAP, Microsoft Corporation, IBM Corporation, Ultimate Software, Ceridian, SumTotal, and Kronos among others.
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This report segments the global human capital management market as follows:
Global Human Capital Management Market: Component Segment Analysis
Global Human Capital Management Market: Deployment Type Segment Analysis
Global Human Capital Management Market: Organization Size Segment Analysis
Global Human Capital Management Market: Vertical Segment Analysis
IT and Telecom
Consumer Goods and Retail
Global Human Capital Management Market: Regional Segment Analysis
Middle East and Africa
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Source: EIN Presswire