Global Human Capital Management Market: Industry Analysis and Forecast (2023-2029)

Global Human Capital Management Market size was valued at US$ 21.20 Bn. in 2022 and is expected to grow at a CAGR of 9.3% through 2023 to 2029. Software segment leads the Global Human Capital Management Market by 2029.
Global Human Capital Management Market Overview:
The Global Human Capital Management market was valued at US $ 21.20 Bn. in 2022, and it is expected to reach US $39.51 Bn. by 2029 with a CAGR of 9.3% during the forecast period. Human Capital Management (HCM) play an important role in converting the old administrative work of human resources departments such as recruiting, training, payroll, compensation, and performance management into opportunities to drive engagement, business value, and productivities.To know about the Research Methodology :- Request Free Sample Report
Global Human Capital Management Market Dynamics:
Human Capital management offers plenty of benefits such as it allows better career planning, performance reviews is improved, the recruitment process is enhanced, identify skill gaps, organic growth is better, human capital management is improved, match positions with employee abilities, and others. The key benefit of human capital management is that it provides a method for managing a company's people resources. It generates the complete system the human resource department can use to deliver the best talents and train them to reach organizational goals.

It is easy to attract an excellent candidate for the organization by using an effective human capital management. Effective human capital management provides hiring managers a database of candidates with the better job specific capabilities and experiences. One of the most significant roles of human capital management is to attract and hire talent that supports the organization reach its goals. It offers all the tools the human resources department requires to position the organization as an ideal workplace for the top candidates and make the recruitment process hitch-free.

Managing human capital needs the effective and well-organized onboarding of new employees. It presents them to the company values, job requirements and expectations and generates an enabling environment that supports them fit into their roles. These are the key benefits that drives the growth of the Global Human Capital Management market during the forecast period 2023-2029.

The major restraining factors that hamper the growth of the human capital management market are data safety and privacy concerns owing to the cloud-based deployment, and need to fulfil with government rules.
Global Human Capital Management Market Segment Analysis:
The Global Human Capital Management Market is segmented by Component, Deployment Model, Organization Size, and Vertical.

Based on the Component, the market is segmented into Software, and Services. The software segment is expected to hold the largest market share of xx% by 2029. Managing the complete lifecycle of employees along with increasing demand to fulfill government regulations enhances the demand for the adoption of software. Human capital management software is a group of human resource applications that supports companies manage their employees through recruitment, on boarding, training, and performance management.

Based on the Deployment Model, the market is segmented into On-premises and Cloud. The on-premises segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. On-premises HCM software is faster and more secure, as the customer can control where organizational data is kept and who is allowed to access that data.

Based on the Vertical, the market is segmented into Banking, Financial Services, and Insurance (BFSI), Government, Manufacturing, Telecom and IT, Consumer Goods and Retail, Healthcare and Life Sciences, Energy and Utilities, Transportation and Logistics, and Others (Hospitality, Education, and Media and Entertainment). Telecom and IT, and Banking, Financial Services, and Insurance (BFSI) segment are expected to grow rapidly at a CAGR of xx% and xx% during the forecast period 2023-2029. The growing demand for HCM software in the BFSI sector and Telecom & IT industries as HCM software provides plenty of benefits is the major driver that boosts the growth of both of these segments in the Global market during the forecast period 2023-2029.
Global Human Capital Management Market Regional Insights:
North America dominates the Global Human Capital Management market during the forecast period 2023-2029. North America is expected to hold the largest market shares of xx% by 2029. Increasing adoption of mobile platforms, employee analytics solutions, and an employee experience platform in the region are the major drivers that boost the growth of this region in the global market during the forecast period 2023-2029.

Asia Pacific is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. The work culture across the Asia Pacific region is reshaped by globalization, demographics, and technological progress. Various organizations in the region are embracing new technologies like Industry 4.0, data analytics, and cloud computing.

The objective of the report is to present a comprehensive analysis of the Global Human Capital Management Market to the stakeholders in the industry. The past and current status of the industry with the 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 include market leaders, followers, and new entrants.

PORTER, 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 reports also help in understanding the Global Human Capital Management Market dynamic, structure by analyzing the market segments and project the Global Human Capital Management Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Human Capital Management Market make the report investor’s guide.
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Global Human Capital Management Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 21.20 Bn.


Forecast Period 2023 to 2029 CAGR:
9.3%
Market Size in 2029:
US $ 39.51 Bn.


 Segments Covered:
by Component
Software
Services


by Deployment Model
On-premises
Cloud


by Organization Size
Small and Medium-sized Enterprises (SMEs)
Large Enterprises


by Vertical
Banking, Financial Services, and Insurance (BFSI)
Government
Manufacturing
Telecom and IT
Consumer Goods and Retail
Healthcare and Life Sciences
Energy and Utilities
Transportation and Logistics
Others (Hospitality, Education, and Media and Entertainment)



Global Human Capital Management 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)
Global Human Capital Management Market Key Players are:
1. ABB
2. Check Point Software Technologies
3. Belden
4. Fortinet
5. Cisco Systems
6. Honeywell
7. General Electric
8. Siemens
9. Honeywell International
10.Fireeye
11.Indegy
12.Mcafee
13.Securitymatters
14.Carbon Black
15.Ultimate Software
16.Workday
17.Oracle
18.ADP
19.Ceridian
20.SumTotal
21.Talentsoft
22.EmployWise
23.Meta4
Frequently Asked Questions:
1] What segments are covered in Global Human Capital Management Market report?
Ans. The segments covered in Global Human Capital Management Market report are based on Component, Deployment Model, Organization Size, and Vertical.

2] Which region is expected to hold the highest share in the Global Human Capital Management Market?
Ans. North America is expected to hold the highest share in the Global Human Capital Management Market.

3] Who are the top key players in the Global Human Capital Management Market?
Ans. ABB, Check Point Software Technologies, Belden, Fortinet, Cisco Systems, and Honeywell are the top key players in the Global Human Capital Management Market.

4] Which segment holds the largest market share in the Global Human Capital Management market by 2029?
Ans. Software segment hold the largest market share in the Global Human Capital Management market by 2029.

5] What is the market size of the Global Human Capital Management market by 2029?
Ans. The market size of the Global Human Capital Management market is US $ 39.51 Bn. by 2029.

6] What was the market size of the Global Human Capital Management market in 2022?
Ans. The market size of the Global Human Capital Management market was worth US $ 21.20 Bn. in 2022.