Human Capital Management Software Market is expected to grow at USD 28.93 billion by 2023, at a CAGR of 8.2% during the forecast period 2020-2030. The human capital management software market is majorly driven by the growing demand for automation and data-driven solutions in the corporate sector. The report categorizes with Human Capital Management Software Market growth, market share, latest trends, COVID-19 Analysis, market drivers, opportunities, restraints, SWOT analysis, expert reviews and forecast.
The human capital management software market is studied in great detail in the latest report from Market Research Future (MRFR), which includes a detailed analysis of the market’s historical growth trajectory and present condition. Major trends operating in the global human capital management software market are examined in the report. Based on this information, accurate and reliable projections for the market’s likely growth trajectory over the forecast period till 2022 are presented in the report.
Leading drivers and restraints operating on the global human capital management software market are examined in the report. The impact of these major drivers and restraints on the global human capital management software market is examined in detail in the report. Thus, the major factors enabling the market’s growth are enlisted and profiled in the report. Leading players operating in the global human capital management software market are also profiled in the research report. The competitive landscape of the global human capital management software market is thus examined in detail in the report. The report also examines the impact of the COVID-19 pandemic on the global human capital management software market.
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Human capital management software is software that does the job of traditional human resources departments. Various parts of the traditional HR’s functions can be automated with the advent of powerful software solutions. Activities such as scouting and talent acquisition can be better handled by machine intelligence, which can find the relevant and accessible options much quicker than human users. Once the candidates are hired, management of the hired employees can also be better handled by software, which eliminates human error and provides detailed, categorized information on various aspects of the employee’s performance. This allows better long-term management of the employee, including salary cycles, performance-related benefits and incentives, and other concerns. The comfort provided by human capital management software has enabled growing demand for the same from the corporate sector in recent years. Growing awareness about human capital management software and the increasing reluctance to use paper-based data storage mechanisms in HR operations are likely to be the major drivers for the global human capital management software market over the forecast period.
Human Capital Management Software Market Drivers
- The human capital management software industry are increasing advances in Artificial Intelligence (AI).
- The market software is helpful for HR departments make better decisions in terms of planning for hiring and managing talented workers.
Human Capital Management Software Market Key Players:
Leading players in the global human capital management software market include -
- Oracle Corporation (U.S.)
- SAP SE (Germany)
- International Business Machines Corporation (U.S.)
- NetSuite Inc. (U.S.)
- Workday, Inc. (U.S.)
- Ultimate Software Group, Inc. (U.S.)
- ADP, LLC (U.S.)
- Cornerstone OnDemand (U.S.)
- Benefitfocus Inc. (U.S.)
- BambooHR (U.S)
- PeopleFluent (U.S)
- Ultimate Software Group, Inc. (U.S)
- Zoho Corporation (India)
- WebHR (U.S)
- CakeHR (U.K)
- Epicor Software Corporation (U.S)
- Infor (U.S)
- Kronos Incorporated (U.S)
- The Sage Group plc. (U.S)
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Human Capital Management Software Market Segmentation:
The global human capital management software market is segmented on the basis of software, service, deployment, organization size, application, end use, and region.
By software, the global human capital management software market is segmented into core HR, workforce management, sourcing and recruiting, applicant tracking system, staffing vendor management, and others.
By service, the global human capital management software market is segmented into integration, support and maintenance, consulting, and others.
By deployment, the global human capital management software market is segmented into cloud and on-premise.
By organization size, the global human capital management software market is segmented into SMEs and large enterprises.
By application, the global human capital management software market is segmented into analytics, training and recruitment, payroll, HR planning, and others.
By end use, the global human capital management software market is segmented into BFSI, manufacturing, healthcare, telecom, energy, retail, logistics and transportation, and others.
Human Capital Management Software Market Regional Analysis:
North America is the leading regional market for human capital management software due to the widespread awareness about this type of software in the region. Asia Pacific countries such as Japan, China, and India are also likely to emerge as major regional markets for human capital management software over the forecast period.
Key Points Covered in the Report:
- The Human Capital Management Software research assesses the industry’s share in terms of demand and supply, as well as volume.
- The study mentions the market share acquired by each product category in terms of consumption value and volume.
- The report meticulously discusses financial records of cumulative sales and overall income gathered by each product category.
- The study includes information on the major organizations’ sales, product pricing methods, revenue shares, and gross margins.
- The operational base of the listed enterprises throughout many locations, as well as their distribution methods, is considered.
- There is also information on the market concentration ratio, partnerships, alliances, acquisitions, new rivals, and other significant changes.
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