The human capital management software market is expected to exhibit a strong 9% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The human capital management software market is majorly driven by the growing demand for automation and data-driven solutions in the corporate sector. The human capital management software market is expected to reach a valuation of USD 24 billion by 2023, according to the MRFR report. The human capital management software market is studied in great detail in the latest report from Market Research Future (MRFR), which includes a detailed analysis of the market’s historical growth trajectory and present condition. Major trends operating in the global human capital management software market are examined in the report. Based on this information, accurate and reliable projections for the market’s likely growth trajectory over the forecast period till 2022 are presented in the report. The research report investigates all dynamic limitations as well as industry growth factors, such as drivers, trends, opportunities, restrictions, difficulties, review and HCM Software Market Forecast.
Leading drivers and restraints operating on the global human capital management software market are examined in the report. The impact of these major drivers and restraints on the global human capital management software market is examined in detail in the report. Thus, the major factors enabling the market’s growth are enlisted and profiled in the report. Leading players operating in the global human capital management software market are also profiled in the research report. The competitive landscape of the global human capital management software market is thus examined in detail in the report. The report also examines the impact of the COVID-19 pandemic on the global human capital management software market.
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Human capital management software is software that does the job of traditional human resources departments. Various parts of the traditional HR’s functions can be automated with the advent of powerful software solutions. Activities such as scouting and talent acquisition can be better handled by machine intelligence, which can find the relevant and accessible options much quicker than human users. Once the candidates are hired, management of the hired employees can also be better handled by software, which eliminates human error and provides detailed, categorized information on various aspects of the employee’s performance. This allows better long-term management of the employee, including salary cycles, performance-related benefits and incentives, and other concerns. The comfort provided by human capital management software has enabled growing demand for the same from the corporate sector in recent years. Growing awareness about human capital management software and the increasing reluctance to use paper-based data storage mechanisms in HR operations are likely to be the major drivers for the global human capital management software market over the forecast period.
Human Capital Management Software Market Key Players:
Leading players in the global human capital management software market include -
- Oracle Corporation (U.S.)
- SAP SE (Germany)
- International Business Machines Corporation (U.S.)
- NetSuite Inc. (U.S.)
- Workday, Inc. (U.S.)
- Ultimate Software Group, Inc. (U.S.)
- ADP, LLC (U.S.)
- Cornerstone OnDemand (U.S.)
- Benefitfocus Inc. (U.S.)
- BambooHR (U.S)
- PeopleFluent (U.S)
- Ultimate Software Group, Inc. (U.S)
- Zoho Corporation (India)
- WebHR (U.S)
- CakeHR (U.K)
- Epicor Software Corporation (U.S)
- Infor (U.S)
- Kronos Incorporated (U.S)
- The Sage Group plc. (U.S)
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Human Capital Management Software Market Segmentation:
The global human capital management software market is segmented on the basis of software, service, deployment, organization size, application, end use, and region.
By software
- Core HR
- Workforce management
- Sourcing and recruiting
- Applicant tracking system
- Staffing vendor management
- Others
By service
- Integration,
- Support and maintenance,
- Consulting
- Others
By Deployment
- cloud
- on-premise
By organization size
- SMEs
- large enterprises
By Application
- Analytics
- Training and recruitment
- Payroll
- HR planning
- Others
By end
- BFSI
- Manufacturing
- Healthcare
- Telecom
- Energy
- Retail
- Logistics and transportation
- Others
Human Capital Management Software Market Regional Analysis:
North America is the leading regional market for human capital management software due to the widespread awareness about this type of software in the region. Asia Pacific countries such as Japan, China, and India are also likely to emerge as major regional markets for human capital management software over the forecast period.
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Key Points Covered in the Human Capital Management Software Industry Report:
- The global Human Capital Management Software industry research examines all the leading players in the Human Capital Management Software market and ranks them based on their corporate strengths and product offerings in today’s competitive marketplace.
- Economic, social, political, legal, and technological factors on customer growth, as well as emergent Human Capital Management Software market trends, were investigated in the report.
- Company profiles, capability, growth, global spend; share, requirements, product price image, and contact information for key global industry players in the global Human Capital Management Software market are also covered in the research study.
- The study contains information on the strategic partnerships and tactics used by competitors in the target Human Capital Management Software market.
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