Human Capital Management Market Global Market- Overview
The human capital management deals with gathering, interpreting and stating the data which reports the future course of people management and investment, which helps to make strategic and operational decision at corporate level. The human capital signifies the employees’ contribution in the business enterprises through intellectual, skill competency and knowledge that increases the efficiency of the organization. The labour factor of the business enterprises is that the ability of understanding, altering and, modernizing and offering the productive thrust which if structurally encouraged and achieve the long term objectives of the business. With the rapid development of organizational infrastructure and rising employment opportunities in small and medium enterprises are expected to drive the Human Capital Management Market over the market.
The prominent players in the Human Capital Management Market are – IBM (U.S.), SAP SE (Germany), Software AG (Germany), Workforce Software (U.S.), ADP LLC (U.S.), WORKDAY (U.S.), Oracle Corporation (U.S.), Kronos Inc. (U.S.), LinkedIn (U.S.), Ultimate Software (U.S.), Infor (U.S.), Zenefits (U.S.), Talentsoft (France), among others.
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To generate an accurate understanding of the market the global human capital management market is segmented by components, deployment type, organization size, end-user and regions.
- Based on components, the market is segmented as service and software solutions. Software solutions are sub-segmented into workforce analytics, competency management, performance management, time and expense management, E-learning, E-recruiting, E-boarding, core HR, talent management, payroll and tax, and others. Services solutions are sub-segmented into transformation services, implementation services, consulting services, support and maintenance, others
- Based on organization size, the market is segmented as SMEs, and Large Enterprise.
- Based on deployment size, the market is segmented as cloud, and on premise.
- Based on end-user, the market is segmented as manufacturing, BFSI, IT/ITES, healthcare, transportation, government and others.
- Based on regions, the market is segmented as North America, Europe, Asia Pacific, Middle East and Africa.
North America leads the world in terms of market share as well as value. The U.S. accounts for the largest share of the market owing to the large purchasing power, rapid adoption of new technology and scarcity of manpower and greatest opportunity cost of human resource management.
Europe is led by Germany, France, and the U.K. and is the second largest market. However the North America and European markets are saturated and the market is expected to shift in favor of the Asia-Pacific countries. Asia Pacific region is expected to be led by China, Japan, and India owing to their huge unmet needs, developing economic and industrial base etc. the service sector led economic growth of China and India in recent years presents a large market opportunity.
The Middle East and Africa market is expected to generate moderate growth skewed in favor of Saudi Arabia, UAE, Qatar and others.
February 2018, Workday, Inc. one of the leading in enterprise cloud applications for finance and human resources, providers declares a $250 million Workday Ventures fund. The company deals with strategic investment arm focused on recognizing, investing, and cooperating with start-ups associated with emerging technologies – such as artificial intelligence (AI) and machine learning, block-chain, and augmented and virtual reality – that can be implemented to business organization.
September 2016, PeopleFluent, a one of the leading cloud provider of social human capital management technology, declared that the company had come aligned with Benify to offer the recognition services to HR executives. The partnership will provide a sophisticated and powerful solution combination that facilitate greater communication and collaboration in the compensation lifecycle.
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- Government Organizations
- Enterprise users
- Commercial users
- Industrial users
- Technology investors
- System Integrators
- Research/Consultancy firms
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