Global Human Capital Management Software Overview
Human Capital Management Software Market accounted for US$ 27.8 billion in 2024 and is estimated to be US$ 61.0 billion by 2034 and is anticipated to register a CAGR of 8.2%.
Human capital management software (HCM software) refers to applications that are intended to help an organization manage as well as maintain its workforce. Human capital management software is considered enterprise-class software that can be scaled up and used to automate various processes such as performance reviews, payroll, recruiting, and training. Human capital management software is also referred to as a human resource management system (HRMS) or human resource information system (HRIS.
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Global Human Capital Management Software Drivers & Restraints
Factor Driving Growth of the HCM Market
Increasing adoption of employee assessment solutions in various organizations especially among information technology organizations is major factor driving growth of the human capital management software market. In addition, rising demand for mobile human capital management application is supporting growth of the target market. Further, growing adoption of human capital management applications in smart phones by human resource department in various organizations is key factor expected to propel growth of the global market in the near future.
Moreover, advanced features of human capital management software like software as a service (SaaS) and enterprise resource planning (ERP) solution are expected to fuel growth of the target market in the near future. However, increasing security concerns associated with implementation of human capital management software over cloud-based deployment is major factor expected to restrain growth of the global market over the forecast period.
Global Human Capital Management Software Segmentations & Regional Insights
??????The human capital management software market has been segmented on the basis of type, deployment type, organization size, vertical, and region.
On the basis of type the target market has been segmented into software and services. Further software type sub-segment is categorized into human resource management, workforce management, sourcing and recruiting, applicant tracking system, staffing vendor management, and others. Services type sub-segment is categorized into consulting, support and maintenance, and integration and deployment. On the basis of deployment type the global market has been segmented into on-premise deployment and cloud-based deployment.
On the basis of organization size the target market has been segmented into large enterprises and small and medium-sized enterprises (SME’s). On the basis of vertical the global market has been segmented into IT and telecommunications, healthcare and education, government and utilities, media and communication services, banking, financial services and insurance (BFSI), and others. Further other vertical sub-segment is categorized into food and beverages, real estate, automotive, and retail.
Regional Insights:
The Human capital management software (HCM software) market accounted for US$ 27.8 billion in 2024 and is estimated to be US$ 61.0 billion by 2034 and is anticipated to register a CAGR of 8.2%.On the basis of region the target market has been segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is expected to account major market share in terms of revenue as compared to that of other regions. This can be attributed to growing adoption of advanced technologies among various IT organizations in countries of the region
Report Scope:
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Attribute |
Details |
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Base year for estimation |
2023 |
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Forecast period |
2024 – 2034 |
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Market representation |
Revenue in USD Billion & CAGR from 2024 – 2034 |
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Market Segmentation |
By Types- Software (Human Resource Management, Workforce Management, Sourcing and Recruiting, Applicant Tracking System, Staffing Vendor Management, and Others (On-Boarding, Recruitment Marketing, and Talent Management)) and Services (Consulting, Support and Maintenance, and Integration and Deployment By Deployment Types– On-Premise Deployment and Cloud-Based Deployment By Organization Size– Large Enterprises and Small and Medium-Sized Enterprises (SME’s) By Vertical - IT and Telecommunications, Healthcare and Education, Government and Utilities, Media and Communication Services, Banking, Financial Services and Insurance (BFSI), and Others
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Human capital management software (HCM software) market report based on types, deployment types, organization types, vertical , and region.
Human Capital Management Software (HCM software) Market, By Region:
- North America
- Canada
- U.S.
- Europe
- Rest of Europe
- Italy
- Russia
- France
- UK
- Germany
- Asia Pacific
- Rest of Asia Pacific
- South Korea
- Japan
- India
- China
- Latin America
- Rest of Latin America
- Mexico
- Brazil
- Middle East & Africa
- Rest of Middle East & Africa
- South Africa
- Israel
- GCC
Global Human Capital Management Software Competitive Landscape & Key Players
The Key players operating in the human capital management software market includes SAP SE, Workday, Inc., Oracle Corporation, Employwise, Inc., Ceridian HCM, Inc., Paycom Software, Inc., Automatic Data Processing, LLC, Ultimate Software Group, Inc., International Business Machines Corporation (IBM), and Sumtotal Systems, LLC (A Skillsoft Company).
Global Human Capital Management Software Company Profile
- SAP SE
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Workday, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Oracle Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Employwise, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Ceridian HCM, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Paycom Software, Inc
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Automatic Data Processing LLC,
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Sumtotal Systems, LLC (A Skillsoft Company).
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Ultimate Software Group, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- International Business Machines Corporation (IBM)
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Global Human Capital Management Software Highlights
FAQs
The Human Capital Management Software Market report segments the market on the basis of type, deployment type, organization size, vertical, and region.
A prominent factor projected to fuel growth of the global human capital management software market over the forecast period is the increasing acceptance of employee evaluation solutions among various information technology (IT) enterprises throughout the world.
Asia Pacific is growing at the highest CAGR over 2021- 2026.
The leading players operating in the Human Capital Management Software Market includes SAP SE, Workday, Inc., Oracle Corporation, Employwise, Inc., Ceridian HCM, Inc., Paycom Software, Inc., Automatic Data Processing, LLC, Ultimate Software Group, Inc., International Business Machines Corporation (IBM), and Sumtotal Systems, LLC (A Skillsoft Company).