The Human Capital Management (HCM) SaaS Market size was valued at USD 22.69 Bn in 2023 and the total Human Capital Management (HCM) SaaS revenue is expected to grow at a CAGR of 6.7% from 2024 to 2030, reaching nearly USD USD 35.63 Bn.Human Capital Management (HCM) SaaS Market Overview:
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.To know about the Research Methodology :- Request Free Sample Report
Human Capital Management (HCM) SaaS Market Dynamics
Increasing adoption of HRM software to drive the market 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
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 2023 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: 2023 Forecast Period: 2024-2030 Historical Data: 2018 to 2023 Market Size in 2023: USD 22.69 Bn Forecast Period 2024 to 2030 CAGR: 6.9% Market Size in 2030: USD 35.63 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 (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)Key Players
1. Oracle 2. SAP SE 3. Workday, Inc. 4. TriNet Group, Inc. 5. ADP, Inc. 6. Paycom Payroll LLC. 7. UKG Inc. 8. Cornerstone 9. Paylocity 10. Cegid 11. IBM 12. WorkForce Software, LLC. 13. Dayforce 14. Paychex Inc. 15. Paycor, Inc 16. CDK Global LLC 17. Insperity 18. Justworks, Inc. 19. Gusto 20. Mercer LLC. 21. Sumtotal Systems, LLC 22. Bamboo HR LLC. 23. Infor HCMFrequently Asked Questions:
1. Which region has the largest share in Global Market? Ans: North America region holds the highest share in 2023. 2. What is the growth rate of Global Human Capital Management (HCM) SaaS Market? Ans: The Global Market is growing at a CAGR of 6.9% during forecasting period 2024-2030. 3. What is scope of the Global Human Capital Management (HCM) SaaS market report? Ans: Global 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 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. hat was the Global Human Capital Management (HCM) SaaS Market size in 2023? Ans: The Global Human Capital Management (HCM) SaaS Market size was USD 22.69 Bn in 2023.
1. Human Capital Management (HCM) SaaS Market Introduction 1.1. Study Assumption and Market Definition 1.2. Scope of the Study 1.3. Executive Summary 2. Global Human Capital Management (HCM) SaaS Market: Competitive Landscape 2.1. MMR Competition Matrix 2.2. Competitive Landscape 2.3. Key Players Benchmarking 2.3.1. Company Name 2.3.2. Service Segment 2.3.3. End-user Segment 2.3.4. Revenue (2023) 2.3.5. Global Presence 2.4. Market Structure 2.4.1. Market Leaders 2.4.2. Market Followers 2.4.3. Emerging Players 2.5. Mergers and Acquisitions Details 3. Human Capital Management (HCM) SaaS Market: Dynamics 3.1. Market Trends 3.2. Market Dynamics 3.2.1. Global Human Capital Management (HCM) SaaS Market Drivers 3.2.2. Global Human Capital Management (HCM) SaaS Market Restraints 3.2.3. Global Human Capital Management (HCM) SaaS Market Opportunities 3.2.4. Global Human Capital Management (HCM) SaaS Market Challenges 3.3. PORTER’s Five Forces Analysis 3.4. PESTLE Analysis 3.5. Technology Roadmap 3.6. Regulatory Landscape by Region 3.7. Key Opinion Leader Analysis For the Global Human Capital Management (HCM) SaaS Industry 3.8. Analysis of Government Schemes and Initiatives For Human Capital Management (HCM) SaaS Industry 4. Investment Analysis 4.1. Venture Capital and Funding Trends 4.2. Major Investments and Strategic Initiatives by Key Players 4.3. Regional Investment Patterns 4.4. Breakdown of enterprise SaaS funding by Sub-sectors in 2023 5. Human Capital Management (HCM) SaaS Market: Global Market Size and Forecast by Segmentation (by Value in USD Million) (2023-2030) 5.1. Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 5.1.1. On-premises 5.1.2. Cloud 5.2. Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 5.2.1. BFSI 5.2.2. IT & Telecom 5.2.3. Retail 5.2.4. Healthcare 5.2.5. Manufacturing 5.2.6. Transportation & Logistics 5.2.7. Others 5.3. Human Capital Management (HCM) SaaS Market Size and Forecast, By Region (2023-2030) 5.3.1. North America 5.3.2. Europe 5.3.3. Asia Pacific 5.3.4. Middle East and Africa 5.3.5. South America 6. North America Human Capital Management (HCM) SaaS Market Size and Forecast by Segmentation (by Value in USD Million) (2023-2030) 6.1. North America Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 6.1.1. On-premises 6.1.2. Cloud 6.2. North America Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 6.2.1. BFSI 6.2.2. IT & Telecom 6.2.3. Retail 6.2.4. Healthcare 6.2.5. Manufacturing 6.2.6. Transportation & Logistics 6.2.7. Others 6.3. North America Human Capital Management (HCM) SaaS Market Size and Forecast, by Country (2023-2030) 6.3.1. United States 6.3.1.1. United States Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 6.3.1.1.1. On-premises 6.3.1.1.2. Cloud 6.3.1.2. United States Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 6.3.1.2.1. BFSI 6.3.1.2.2. IT & Telecom 6.3.1.2.3. Retail 6.3.1.2.4. Healthcare 6.3.1.2.5. Manufacturing 6.3.1.2.6. Transportation & Logistics 6.3.1.2.7. Others 6.3.2. Canada 6.3.2.1. Canada Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 6.3.2.1.1. On-premises 6.3.2.1.2. Cloud 6.3.2.2. Canada Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 6.3.2.2.1. BFSI 6.3.2.2.2. IT & Telecom 6.3.2.2.3. Retail 6.3.2.2.4. Healthcare 6.3.2.2.5. Manufacturing 6.3.2.2.6. Transportation & Logistics 6.3.2.2.7. Others 6.3.3. Mexico 6.3.3.1. Mexico Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 6.3.3.1.1. On-premises 6.3.3.1.2. Cloud 6.3.3.2. Mexico Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 6.3.3.2.1. BFSI 6.3.3.2.2. IT & Telecom 6.3.3.2.3. Retail 6.3.3.2.4. Healthcare 6.3.3.2.5. Manufacturing 6.3.3.2.6. Transportation & Logistics 6.3.3.2.7. Others 7. Europe Human Capital Management (HCM) SaaS Market Size and Forecast by Segmentation (by Value in USD Million) (2023-2030) 7.1. Europe Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 7.2. Europe Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 7.3. Europe Human Capital Management (HCM) SaaS Market Size and Forecast, by Country (2023-2030) 7.3.1. United Kingdom 7.3.1.1. United Kingdom Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 7.3.1.2. United Kingdom Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 7.3.2. France 7.3.2.1. France Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 7.3.2.2. France Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 7.3.3. Germany 7.3.3.1. Germany Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 7.3.3.2. Germany Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 7.3.4. Italy 7.3.4.1. Italy Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 7.3.4.2. Italy Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 7.3.5. Spain 7.3.5.1. Spain Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 7.3.5.2. Spain Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 7.3.6. Sweden 7.3.6.1. Sweden Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 7.3.6.2. Sweden Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 7.3.7. Austria 7.3.7.1. Austria Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 7.3.7.2. Austria Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 7.3.8. Rest of Europe 7.3.8.1. Rest of Europe Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 7.3.8.2. Rest of Europe Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 8. Asia Pacific Human Capital Management (HCM) SaaS Market Size and Forecast by Segmentation (by Value in USD Million) (2023-2030) 8.1. Asia Pacific Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 8.2. Asia Pacific Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 8.3. Asia Pacific Human Capital Management (HCM) SaaS Market Size and Forecast, by Country (2023-2030) 8.3.1. China 8.3.1.1. China Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 8.3.1.2. China Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 8.3.2. S Korea 8.3.2.1. S Korea Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 8.3.2.2. S Korea Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 8.3.3. Japan 8.3.3.1. Japan Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 8.3.3.2. Japan Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 8.3.4. India 8.3.4.1. India Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 8.3.4.2. India Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 8.3.5. Australia 8.3.5.1. Australia Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 8.3.5.2. Australia Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 8.3.6. Indonesia 8.3.6.1. Indonesia Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 8.3.6.2. Indonesia Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 8.3.7. Philippines 8.3.7.1. Philippines Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 8.3.7.2. Philippines Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 8.3.8. Malaysia 8.3.8.1. Malaysia Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 8.3.8.2. Malaysia Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 8.3.9. Vietnam 8.3.9.1. Vietnam Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 8.3.9.2. Vietnam Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 8.3.10. Thailand 8.3.10.1. Thailand Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 8.3.10.2. Thailand Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 8.3.11. Rest of Asia Pacific 8.3.11.1. Rest of Asia Pacific Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 8.3.11.2. Rest of Asia Pacific Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 9. Middle East and Africa Human Capital Management (HCM) SaaS Market Size and Forecast (by Value in USD Million) (2023-2030 9.1. Middle East and Africa Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 9.2. Middle East and Africa Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 9.3. Middle East and Africa Human Capital Management (HCM) SaaS Market Size and Forecast, by Country (2023-2030) 9.3.1. South Africa 9.3.1.1. South Africa Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 9.3.1.2. South Africa Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 9.3.2. GCC 9.3.2.1. GCC Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 9.3.2.2. GCC Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 9.3.3. Egypt 9.3.3.1. Egypt Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 9.3.3.2. Egypt Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 9.3.4. Nigeria 9.3.4.1. Nigeria Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 9.3.4.2. Nigeria Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 9.3.5. Rest of ME&A 9.3.5.1. Rest of ME&A Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 9.3.5.2. Rest of ME&A Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 10. South America Human Capital Management (HCM) SaaS Market Size and Forecast by Segmentation (by Value in USD Million) (2023-2030 10.1. South America Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 10.2. South America Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 10.3. South America Human Capital Management (HCM) SaaS Market Size and Forecast, by Country (2023-2030) 10.3.1. Brazil 10.3.1.1. Brazil Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 10.3.1.2. Brazil Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 10.3.2. Argentina 10.3.2.1. Argentina Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 10.3.2.2. Argentina Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 10.3.3. Chile 10.3.3.1. Chile Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 10.3.3.2. Chile Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 10.3.4. Colombia 10.3.4.1. Colombia Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 10.3.4.2. Colombia Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 10.3.5. Rest Of South America 10.3.5.1. Rest Of South America Human Capital Management (HCM) SaaS Market Size and Forecast, By Deployment (2023-2030) 10.3.5.2. Rest Of South America Human Capital Management (HCM) SaaS Market Size and Forecast, By End-user (2023-2030) 11. Company Profile: Key Players 11.1. Oracle 11.1.1. Company Overview 11.1.2. Business Portfolio 11.1.3. Financial Overview 11.1.4. SWOT Analysis 11.1.5. Strategic Analysis 11.1.6. Recent Developments 11.2. SAP SE 11.3. Workday, Inc. 11.4. TriNet Group, Inc. 11.5. ADP, Inc. 11.6. Paycom Payroll LLC. 11.7. UKG Inc. 11.8. Cornerstone 11.9. Paylocity 11.10. Cegid 11.11. IBM 11.12. WorkForce Software, LLC. 11.13. Dayforce 11.14. Paychex Inc. 11.15. Paycor, Inc 11.16. CDK Global LLC 11.17. Insperity 11.18. Justworks, Inc. 11.19. Gusto 11.20. Mercer LLC. 11.21. Sumtotal Systems, LLC 11.22. Bamboo HR LLC. 11.23. Infor HCM 12. Key Findings 13. Industry Recommendations 14. Human Capital Management (HCM) SaaS Market: Research Methodology
