Human Capital Management Solutions Market by Application and Geography - Forecast and Analysis 2021-2025

  • Published: Aug 2021
  • Pages: 120
  • SKU: IRTNTR40495
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The human capital management (HCM) solutions market has the potential to grow by USD 12.16 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 10.57%.

This human capital management solutions market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (core HR, talent, and workforce) and geography (North America, Europe, APAC, South America, and MEA). The human capital management solutions market report also offers information on several market vendors, including Automatic Data Processing Inc., Ceridian HCM Holding Inc., Infor Inc., Kronos Inc., Oracle Corp., Ramco Systems Ltd., SAP SE, Talentia Software Group, UKG Inc., and Workday Inc. among others.

What will the Human Capital Management (HCM) Solutions Market Size be in 2021?

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Human Capital Management (HCM) Solutions Market: Key Drivers and Trends

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The demand for automated recruitment processes is notably driving the HCM solutions market growth, although factors such as threats from open-source software may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the human capital management solutions industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

  • Advances in technology have made HCM solutions capable of automating recruitment processes, which is one of the major drivers for the HCM solutions market.
  • The adoption of HCM software automates and streamlines the entire hiring process.
  • The software shortlists candidates according to the profile, sends interview invitations, and confirms interview slots.
  • This process reduces the overall time, effort, and cost of the process and increases the chances of recruiting the right candidates.
  • Many companies are using these HCM solutions for their recruitment processes since they are more profitable. 
  • With increasing digitization across industries, the demand for unified HR functioning will rise. This will drive the HCM solutions market during the forecast period.
  • With the increased adoption of digital technologies, most companies prefer unified solutions for all HR functions.
  • HCM solutions offer software solutions that help in streamlining the entire HR process of an organization. They automate payroll, recruitment, performance review, onboarding, training, time and attendance management, strategic planning, and operation control processes.
  • HCM provides a single platform for all activities, thereby reducing the complexities of the HR process. It unifies and manages all HR functions without any glitches, as it works on a single platform.

This human capital management solutions market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Human Capital Management (HCM) Solutions Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Automatic Data Processing Inc.
  • Ceridian HCM Holding Inc.
  • Infor Inc.
  • Kronos Inc.
  • Oracle Corp.
  • Ramco Systems Ltd.
  • SAP SE
  • Talentia Software Group
  • UKG Inc.
  • Workday Inc.

 

This statistical study of the human capital management solutions market encompasses successful business strategies deployed by the key vendors. The HCM solutions market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The human capital management solutions market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Human Capital Management (HCM) Solutions Market?

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34% of the market’s growth will originate from North America during the forecast period. The US is a key market for human capital management solutions in North America. Market growth in this region will be faster than the growth of the market in MEA.

This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Application Segments in the Human Capital Management (HCM) Solutions Market?

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The human capital management solutions market share growth by the core HR segment will be significant during the forecast period. Core HR functions include employee recruitment, employee training, payroll, scheduling, benefits administration, internal relations, and safety and compliance. Core HR applications under HCM include basic HR responsibilities and are expected to grow rapidly during the forecast period. Adoption of digital technologies in organizations, coupled with the need for cost reduction and efficient workforce management, will also increase the demand for HCM solutions for core HR applications during the forecast period. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the HCM solutions market size and actionable market insights on post COVID-19 impact on each segment.

 

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What are the Key Factors Covered in this Human Capital Management (HCM) Solutions Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive human capital management solutions market growth during the next five years
  • Precise estimation of the human capital management solutions market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the HCM solutions industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of HCM solutions market vendors

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Human Capital Management Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 10.57%

Market growth 2021-2025

USD 12.16 billion

Market structure

Fragmented

YoY growth (%)

9.52

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 34%

Key consumer countries

US, Germany, India, UK, and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Automatic Data Processing Inc., Ceridian HCM Holding Inc., Infor Inc., Kronos Inc., Oracle Corp., Ramco Systems Ltd., SAP SE, Talentia Software Group, UKG Inc., and Workday Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Application

    • Market segments
    • Comparison by Application
    • Core HR - Market size and forecast 2020-2025
    • Talent - Market size and forecast 2020-2025
    • Workforce - Market size and forecast 2020-2025
    • Market opportunity by Application

    Customer landscape

    • Customer landscape

    Geographic Landscape

    • Geographic segmentation
    • Geographic comparison
    • North America - Market size and forecast 2020-2025
    • Europe - Market size and forecast 2020-2025
    • APAC - Market size and forecast 2020-2025
    • South America - Market size and forecast 2020-2025
    • MEA - Market size and forecast 2020-2025
    • Key leading countries
    • Market opportunity by geography
    • Market drivers
    • Market challenges
    • Market trends

    Vendor Landscape

    • Vendor landscape
    • Landscape disruption

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • Automatic Data Processing Inc.
    • Ceridian HCM Holding Inc.
    • Infor Inc.
    • Kronos Inc.
    • Oracle Corp.
    • Ramco Systems Ltd.
    • SAP SE
    • Talentia Software Group
    • UKG Inc.
    • Workday Inc.

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    TechnavioINFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases
    Technavio

    TechnavioDATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts
    Technavio

    TechnavioREPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
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    The human capital management (hcm) solutions market growth will increase by $11128.01 million during 2019-2024.
    The human capital management (hcm) solutions market is expected to grow at a CAGR of 10.02% during 2019-2024.
    Technavio has segmented the human capital management (hcm) solutions market by application (Core HR, Talent, and Workforce) and geographic (North America, Europe, APAC, South America, and MEA).
    Automatic Data Processing Inc., Ceridian HCM Holding Inc., Infor, Kronos Inc., Oracle Corp., Ramco Systems Ltd., SAP SE, Talentia Software Group, The Ultimate Software Group Inc., Workday Inc. are a few of the key vendors in the human capital management (hcm) solutions market.
    North America will register the highest growth rate of 34.70% among the other regions. Therefore, the human capital management (hcm) solutions market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
    The key factors driving the human capital management (hcm) solutions market growth are:
    • Demand for automated recruitment processes
    • Emergence of cloud-computing services
    The human capital management (hcm) solutions market vendors should focus on grabbing business opportunities from the core hr segment as it accounted for the largest market share in the base year.
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