Information Communication and Technology Reports Human Capital Management Market

Human Capital Management Market is expected to grow from
USD 14.50 Billion in 2017 to USD 22.51 Billion by 2022
According to a new market research report " Human Capital Management Market by Software (Core HR,
Workforce Management, Sourcing and Recruiting, Applicant Tracking System, Staffing Vendor Management),
Services, Deployment Type, Organization Size, and Region - Global Forecast to 2022", published by
MarketsandMarkets™, The Human Capital Management (HCM) market size is expected to grow from USD 14.50
Billion in 2017 to USD 22.51 Billion by 2022, at an estimated Compound Annual Growth Rate (CAGR) of 9.2%.
HCM is growing gradually and being adopted by users to standardize processes for core Human Resources (HR)
activities, workforce management, and talent management. Managing the widespread workforce located at
different regions is one of the major driving forces for the growth of the HCM market.
Browse and in-depth TOC on “Human Capital Management Market”
65 - Tables
71 - Figures
139 - Pages
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Core HR and workforce management are expected to be the largest contributors in the global HCM market
during the forecast period
Core HR software is a very basic requirement for any organization to administer its employee for functions, such as
payroll and compensation management, benefits and claims management, personnel management, learning
management, pension management, compliance management, and succession planning. Furthermore, considering
the rising workforce of organizations, it becomes critical for the HR department to track and monitor the
employees in order to efficiently manage the widespread workforce.
The consumer goods and retail vertical is expected to show a significant growth rate in terms of adoption of
HCM-based solutions and services
The consumer goods and retail vertical is evolving and expected to grow rapidly, in terms of technological changes,
customer needs, and employment. In order to gain more visibility and control over diversified and mixed
workforce consisting of in-store employees, drivers, and field service providers, both internally and externally, the
consumer goods and retail vertical has been focusing on adopting advanced solutions to efficiently manage their
resources. Moreover, the increasing competition in the consumer goods and retail vertical has encouraged these
enterprises to efficiently manage their resources and increase the profitability.
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With the growing technological advancements in North America, the region is expected to be the largest
contributor of HCM solutions during the forecast period.
The North America region has been predominately concerned regarding the adoption of HCM solutions and
services. The high adoption of digital technology across all major verticals helps the HCM market to grow in North