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Increasing integration of Robot Process Automation with HR solutions and rising demand for cloud-based business models & talent mobility for workforce planning
— Emergen Research
VANCOUVER, BC, CANADA, May 9, 2023 /EINPresswire.com/ — The global Human Capital Management (HCM) market size reached USD 18.04 billion in 2020 and is expected to register a revenue CAGR of 7.9% during the forecast period, according to latest analysis by Emergen Research. Increasing adoption of cloud-based Human Capital Management (HCM) solutions is expected to support market revenue growth between 2021 and 2028. Besides, increasing integration of Robot Process Automation (RPA) with HR solutions will boost market growth. Currently, demand for cloud-based business models and talent mobility for workforce planning has increased at a rapid pace.
Many businesses in various industries, including BFSI, healthcare, manufacturing, retail, telecommunications & Information Technology (IT), media & entertainment, and others are rapidly adopting cloud-based HCM solutions. Such solutions ensure secure access to various administrative functions through an innovative HR employee access portal. It further enables employees to access data remotely using smartphones and computers. These are some major factors driving growth of the global Human Capital Management (HCM) market revenue.
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Some Key Highlights from the Report
Service segment is expected to expand at a substantially rapid revenue CAGR during the forecast period due to rising need for implementation and maintenance services as a result of increasing deployment of HCM solutions.
Cloud segment is expected to register a significantly robust revenue growth rate over the forecast period as organizations are shifting rapidly towards cloud-based deployment models to manage large data efficiently and remotely.
North America is expected to register a larger revenue growth rate in the Human Capital Management (HCM) market over the forecast period among other regional markets due to robust presence of international and domestic HCM solution providers such as Microsoft Corporation, Workday, Inc., Automatic Data Processing, Inc., Ceridian HCM, Inc., and Oracle Corporation, among others.
The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others.
Prominent Players Analyzed in the Report:
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.
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The objective of the Global Human Capital Management Market research report is to describe the crucial segment and competition in Medical Devices industry. It helps in making essential business decisions by having complete insights of Human Capital Management market as well as by conducting in-depth analysis of different segments. This research report is a beneficial source of perceptive data for a business approach because it presents the market overview and growth assessment with its historical as well as futuristic data for the user.
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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The report offers a comprehensive breakdown of the regional analysis of the market and subsequent country-wise analysis. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of 2021-2028. According to the regional analysis, the market is primarily spread over key geographical regions as follows:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.
Overview of the Human Capital Management Market Report:
Introduction, Product Scope, Market Overview, and Opportunities
Analysis of the Manufacturers with sales, revenue, and price analysis
Comprehensive analysis of the competitive landscape
Extensive profiling of the key competitors along with their business strategies and market size
Regional analysis of the market along with sales, revenue, market share, and global position
Country-wise analysis of the market along with types, applications, and manufacturing
Strategic recommendations to established players as well as new entrants
In-depth analysis of the risks, restraints, and limitations in the Human Capital Management industry
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