Human Capital Management (HCM) SaaS Market: Global Industry Analysis And Forecast(2022-2029)

Human Capital Management (HCM) SaaS Market size is expected to reach US$ 33.53 Bn. by 2029, at a CAGR of 6.9% during the forecast period.

Human Capital Management (HCM) SaaS Market Overview:

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Human Capital Management (HCM) SaaS Market Dynamics

Increasing adoption of HRM software to drive the market Human resource is the main pillar of any business or enterprises. Without human resources, an organization can’t achieve goals and objectives. HR department deals with various functions such as training, attendance, employees’ performance, payroll, etc. In recent times, organisations are moving towards digitalization, they are adopting human capital software management software to train and develop talent and to manage all tasks related to employees such as attendance, their performance, payroll system, etc. Coronavirus pandemic forced companies to remain shut and adopt remote working. This led organisations to deploy HCM software to monitor employees’ activities, performance, attendance, etc. to analyze and improve productivity. The HCM can also be configured with the payroll system, which provides accurate results regarding salary and other benefits, which is expected to boost the market. However, the HCM SaaS solution is a cloud-based solution, which can be deployed at a low cost, and maintenance costs are also very low as the service provider is responsible for the 24x7 support and maintenance activity of the software. Due to low deployment cost and regular data backup, the SMEs are a wide adopter of the HCM SaaS software to handle day to day work of the organization. The evolution of RPA in HCM software and increased adoption of cloud-based software are expected to lift the market in the nearer future. Lack of awareness to challenge the market. Many SMEs are still using traditional HCM solutions due to inadequate technological knowledge and less awareness about the benefits of HCM SaaS software, which is expected to create challenges for the market during the forecast period.

Human Capital Management (HCM) SaaS Market Segment Analysis

Global Human Capital Management (HCM) SaaS Market The cloud-based solution is expected to witness the highest growth at a CAGR of xx% during the forecast period due to its mobility and scalability. The cloud-based HCM enables users 24x7 access to software from anywhere and any device. The increasing adoption of mobile devices across the globe has raised the demand for cloud-based software, which is expected to boost the cloud HCM market. Compared to the on-premises, it offers rapid scalability as users can increase or decrease the storage capacity by paying as they use. Other factors like low-cost installation, maintenance, regular data backup and updates, etc. are expected to increase demand for cloud HCM in SMEs in nearer future.

Human Capital Management (HCM) SaaS Regional Insights

North America is expected to witness highest growth during forecast period North America held the largest market share of xx% in 2021 and it’s expected to dominate the market throughout the forecast period. North American region is known as an early adopter of technological advancements due to the enormous presence of IT service and solution providers in countries such as US and Canada. The people in the region are more tech-savvy and adopting advanced technologies such as cloud computing, IoT, AI, etc. in the organizations to reduce the workload and automate the process. However, the availability of high-speed internet connectivity is the major growth driver of the HCM SaaS software in North America. The Asia Pacific is expected to witness rapid growth during the forecast period due to the growing digitalization in various industries and people are becoming aware of advanced technologies. An emerging trend of automation in countries like India and China is expected to boost the HCM SaaS market. Further, the increasing use of cloud-based software and solutions, data analytics in the companies is expected to create many lucrative opportunities for the market in the region. The objective of the report is to present a comprehensive analysis of the global human capital management (HCM) SaaS market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SWOT, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding global human capital management (HCM) SaaS market dynamic, structure by analyzing the market segments and project global human capital management (HCM) SaaS market clear representation of competitive analysis of key players by price, financial position, by detection and equipment portfolio, growth strategies, and regional presence in the global human capital management (HCM) SaaS market make the report investor’s guide.

Human Capital Management (HCM) SaaS Market scope: Inquire before buying

Global Human Capital Management (HCM) SaaS Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2029
Historical Data: 2017 to 2021 Market Size in 2021: US$ 19.66 Bn
Forecast Period 2022 to 2029 CAGR: 6.9% Market Size in 2029: US$ 33.53 Bn
Segments Covered: by Deployment • Cloud • On-premises
by End-user • BFSI • IT & Telecom • Retail • Healthcare • Manufacturing • Transportation & Logistics • Others

Human Capital Management (HCM) SaaS Market, by region

• North America • Europe • Asia-Pacific • South America • Middle East & Africa

Human Capital Management (HCM) SaaS Market Key Players

• Castlight Health • Zenefits • ADP LLC • Paycom Software Inc. • Ascentis Software Corporation • Ultimate Software • Paylocity • Talentsoft • Oracle Corporation • IBM • Workday, Inc. • FinancialForce.com • SAP SE • Electronic Commerce Inc. • WorkForce Software LLC • Skillsoft Limited • Haufe Group • UKG Pro • Ceridian Dayforce • Paychex • Paycor • TriNet Group • CDK Global • Insperity • Justworks • Gusto • Mercer Frequently Asked Questions: 1. Which region has the largest share in Global Human Capital Management (HCM) SaaS Market? Ans: North America region holds the highest share in 2021. 2. What is the growth rate of Global Human Capital Management (HCM) SaaS Market? Ans: The Global Human Capital Management (HCM) SaaS Market is growing at a CAGR of 6.9% during forecasting period 2022-2029. 3. What is scope of the Global Human Capital Management (HCM) SaaS market report? Ans: Global Human Capital Management (HCM) SaaS Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Human Capital Management (HCM) SaaS market? Ans: The important key players in the Global Human Capital Management (HCM) SaaS Market are – Castlight Health, Zenefits, ADP LLC, Paycom Software Inc., Ascentis Software Corporation, Ultimate Software, Paylocity, Talentsoft, Oracle Corporation, IBM, Workday, Inc., FinancialForce.com, SAP SE, Electronic Commerce Inc., WorkForce Software LLC, Skillsoft Limited, Haufe Group, UKG Pro, Ceridian Dayforce, Paychex, Paycor, TriNet Group, CDK Global, Insperity, Justworks, Gusto, and Mercer 5. What is the study period of this market? Ans: The Global Human Capital Management (HCM) SaaS Market is studied from 2021 to 2029.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Human Capital Management (HCM) SaaS Market Size, by Market Value (US$ Mn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2021 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Human Capital Management (HCM) SaaS Market 3.4. Geographical Snapshot of the Human Capital Management (HCM) SaaS Market, By Manufacturer share 4. Global Human Capital Management (HCM) SaaS Market Overview, 2021-2029 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Human Capital Management (HCM) SaaS Market 5. Supply Side and Demand Side Indicators 6. Global Human Capital Management (HCM) SaaS Market Analysis and Forecast, 2021-2029 6.1. Global Human Capital Management (HCM) SaaS Market Size & Y-o-Y Growth Analysis. 7. Global Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 7.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 7.1.1. Cloud 7.1.2. On-premises 7.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 7.2.1. BFSI 7.2.2. IT & Telecom 7.2.3. Retail 7.2.4. Healthcare 7.2.5. Manufacturing 7.2.6. Transportation & Logistics 7.2.7. Others 8. Global Human Capital Management (HCM) SaaS Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2021-2029 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 9.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 9.1.1. Cloud 9.1.2. On-premises 9.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 9.2.1. BFSI 9.2.2. IT & Telecom 9.2.3. Retail 9.2.4. Healthcare 9.2.5. Manufacturing 9.2.6. Transportation & Logistics 9.2.7. Others 10. North America Human Capital Management (HCM) SaaS Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2021-2029 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 11.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 11.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 12. Canada Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 12.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 12.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 13. Mexico Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 13.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 13.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 14. Europe Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 14.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 14.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 15. Europe Human Capital Management (HCM) SaaS Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2021-2029 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 16.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 16.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 17. France Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 17.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 17.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 17.3. 18. Germany Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 18.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 18.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 19. Italy Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 19.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 19.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 20. Spain Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 20.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 20.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 21. Sweden Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 21.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 21.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 22. CIS Countries Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 22.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 22.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 23. Rest of Europe Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 23.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 23.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 24. Asia Pacific Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 24.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 24.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 25. Asia Pacific Human Capital Management (HCM) SaaS Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2021-2029 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 26.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 26.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 27. India Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 27.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 27.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 28. Japan Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 28.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 28.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 29. South Korea Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 29.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 29.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 30. Australia Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 30.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 30.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 31. ASEAN Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 31.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 31.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 32. Rest of Asia Pacific Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 32.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 32.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 33. Middle East Africa Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 33.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 33.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 34. Middle East Africa Human Capital Management (HCM) SaaS Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2021-2029 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 35.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 35.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 36. GCC Countries Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 36.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 36.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 37. Egypt Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 37.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 37.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 38. Nigeria Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 38.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 38.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 39. Rest of ME&A Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 39.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 39.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 40. South America Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 40.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 40.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 41. South America Human Capital Management (HCM) SaaS Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2021-2029 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 42.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 42.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 43. Argentina Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 43.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 43.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 44. Rest of South America Human Capital Management (HCM) SaaS Market Analysis and Forecasts, 2021-2029 44.1. Market Size (Value) Estimates & Forecast By Deployment, 2021-2029 44.2. Market Size (Value) Estimates & Forecast By End-user, 2021-2029 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Human Capital Management (HCM) SaaS Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile: Key Players 45.3.1. Castlight Health 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. Zenefits 45.3.3. ADP LLC 45.3.4. Paycom Software Inc. 45.3.5. Ascentis Software Corporation 45.3.6. Ultimate Software 45.3.7. Paylocity 45.3.8. Talentsoft 45.3.9. Oracle Corporation 45.3.10. IBM 45.3.11. Workday, Inc. 45.3.12. FinancialForce.com 45.3.13. SAP SE 45.3.14. Electronic Commerce Inc. 45.3.15. WorkForce Software LLC 45.3.16. Skillsoft Limited 45.3.17. Haufe Group 45.3.18. UKG Pro 45.3.19. Ceridian Dayforce 45.3.20. Paychex 45.3.21. Paycor 45.3.22. TriNet Group 45.3.23. CDK Global 45.3.24. Insperity 45.3.25. Justworks 45.3.26. Gusto 45.3.27. Mercer 46. Primary Key Insights

About This Report

Report ID 106233
Category Information Technology & Telecommunication
Published Date July 2022
Updated Date
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