The Human Capital Management by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).

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In line with The Business Research Company’s insightful findings on Human Capital Management, the market has experienced rapid expansion, soaring from $21.81 billion in 2024 to a projected $24.01 billion in the same year, boasting a compelling compound annual growth rate (CAGR) of 10.1%. This surge in the historic period is credited to the advent of cloud-based HR management software, the exponential growth in the e-commerce sector, and the swift pace of globalization.

Anticipating an even more robust trajectory, the human capital management market is poised to ascend to $35.39 billion by 2028, boasting a CAGR of 10.2%. This optimistic forecast is underpinned by the escalating adoption of cloud-based methodologies, burgeoning urbanization trends, and heightened investment activities. Pivotal trends in this forecast period encompass AI-featured talent acquisition, technological advancements, product innovations, video recruiting, Learning Experience Platforms (LEPs), and platforms geared towards enhancing employee productivity.

The integration of robotic process automation (RPA) is expected to propel the growth of the human capital management market going forward. Robotic process automation refers to automation that uses software robots to automate various repetitive tasks. RPA has several advantages, including time efficiency, increased focus on personnel development, retention, and policy implementation. RPA helps human capital management in the process of automating repetitive tasks such as compensation management, payroll management, onboarding of new people, and compliance reporting. For instance, according to Computer Economics, a US-based IT research firm, in 2021, 20% of organizations will have adopted robotic process automation, an increase of 13% from 2020. Therefore, the integration of robotic process automation is driving the growth of the human capital management market.

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The human capital management market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment Model: On-Premises, Cloud
3) By Organization Site: Small And Medium-sized Enterprises, Large Enterprises
4) By Vertical: Banking, Financial Services, And Insurance, Government, Manufacturing, Telecom And IT, Consumer Goods And Retail, Healthcare And Life Sciences, Energy And Utilities, Transportation And Logistics, Other Verticals

The burgeoning technological landscape takes center stage as a burgeoning trend within the human capital management market. Prominent players in this sector are diligently concentrating on pioneering new technologies and automated solutions to streamline processes. A notable illustration of this commitment to innovation is exemplified by Ramco Systems, an India-based software company, which, in June 2021, introduced the Self-Explaining Payslip—a smart and AI-based service designed to assist employees in comprehending their payslip components, addressing payroll queries, and navigating compensation intricacies. This manifestation of cutting-edge technology underscores the industry's ongoing pursuit of efficiency and employee-centric solutions.

The human capital management market report table of contents includes:
1. Executive Summary
2. Human Capital Management Market Characteristics
3. Human Capital Management Market Trends And Strategies
4. Human Capital Management Market - Macro Economic Scenario
5. Global Human Capital Management Market Size and Growth

32. Global Human Capital Management Market Competitive Benchmarking
33. Global Human Capital Management Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Human Capital Management Market
35. Human Capital Management Market Future Outlook and Potential Analysis
36. Appendix

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