According to the 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", 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%.
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Objectives of the Study
• To define, describe, and forecast the human capital management market on the basis of components (software and services), organization sizes, deployment types, and verticals
• To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
• To analyze the submarkets with respect to individual growth trends, future prospects, and contribution to the market
• To analyze and forecast the market size in terms of revenue
• To forecast the market size of the market segments with respect to the 5 main regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America
• To analyze the opportunities in the market for stakeholders by identifying high-growth segments of the market
• To strategically profile the key players of the market and comprehensively analyze their core competencies1 in each microsegment
• To analyze competitive developments, such as agreements, alliances, joint ventures, and mergers and acquisitions in the human capital management market
Drivers
• Simplified management of geographically spread workforce
• Growing demand for mobile HCM applications
• Increasing demand for talent mobility
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Major Market Developments
1. In 2016, Oracle acquired Dyn and NetSuite. These acquisitions helped strengthen Oracles cloud product offerings.
2. In 2015, SAP formed a partnership with IBM to initiate cloud-to-cloud integration of HR software and services of both the companies to help customers improve their business processes and manage the human resources.
3. In 2017, Infor acquired Accentia Middle East, which is an exclusive Infor partner serving in the Middle East, North Africa, and India. This acquisition will help Infor to expand its presence in these regions.
The market ecosystem comprises vendors, such as Workday, Inc. (US), Oracle Corporation (US), SAP SE (Germany), Kronos, Inc. (US), Automatic Data Processing, LLC (US), and Ultimate Software Group, Inc. (US), service providers, system integrators, and enterprises. Other stakeholders of the Human Capital Management market include human resource vendors, distributors, Original Equipment Manufacturers (OEMs), consulting service providers, human resources service providers, resellers, telecom operators, enterprise users, and technology providers. These Human Capital Management Software Vendors are rated and listed by us on the basis of product quality, reliability, and their business strategy.
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