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 simplified management of geographically spread workforce, the growing demand for mobile Human Capital Management (HCM) applications, and the increasing demand for talent mobility are driving the HCM market
The 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%. The HCM market is driven by factors, such as the increased adoption of mobile devices and the increasing demand for talent mobility in the organizations. Organizations are resistant to change the traditional approaches or adopt new solutions, which is expected to hinder the market growth during the forecast period.

The Core HR (Human Resources) segment is expected to hold the major market share during the forecast period
The core HR segment is expected to hold the largest market share during the forecast period. The 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. The solutions helps HR personnel effectively manage their employees and maintain a transparent medium between the management and the employees. With the presence of a number of prominent software vendors in the core HR software space, the market is very competitive with many emerging players who offer niche and differentiated solutions, targeting a particular set of customers.


The Small and Medium-Sized Enterprises (SMEs) segment for HCM is expected to grow at the highest CAGR during the forecast period
The SMEs segment is expected to grow at the highest CAGR in the HCM market during the forecast period. The increased competitive market scenario has prompted the SMEs to invest in this business software and adopt the go-to-market strategies, to make efficient decisions for their business growth. More than larger enterprises, SMEs face a resource crunch and require better methods to solve the complexities for better cost optimization on their assets and requirements.

Asia Pacific (APAC) is expected to witness a high growth potential during the forecast period
North America holds the largest market share in 2017, while APAC is the fastest-growing region in terms of CAGR. The HCM market is evolving globally with the introduction of new software and better analytics, which enhance HCM applications’ feature. The analysis shows that the spending on HCM software and services is increasing due to the changing work dynamics, technological advancements, and the increase in cloud and mobile usage.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with the key people. The break-up of profiles of primary participants is given below as:
‧ By Company Type: Tier 1 – 45%, Tier 2 – 35%, and Tier 3 – 20%
‧ By Designation: C level – 72%, Director level – 17%, and Manager Level – 11%
‧ By Region: North America – 45%, Europe – 20%, APAC – 30%, and Rest of the World (RoW)- 5%

The HCM ecosystem comprises major vendors, such as Workday, Inc. (US), Oracle Corporation (US), SAP SE (Germany), Kronos, Inc. (US), Automatic Data Processing, LLC (US), Ultimate Software Group, Inc. (US),International Business Corporation(US), EmployWise, Inc .(India), and Paycom Software, Inc. (US) .

Research Coverage
The HCM market has been segmented by component, deployment type, organization size, industry vertical, and region. The report is expected to help market leaders/new entrants in this market in the following ways:
The report segments the HCM market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments. The market numbers were then further split across different verticals and regions.
Reasons to buy the Report
The report helps the stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
It also helps stakeholders understand the competitors better and gain more insights to enhance the position of their businesses. There is a separate section on competitive landscape, including the competitor ecosystem, and mergers and acquisitions. Besides, there are company profiles of 14 players, who offer services in this market. In this section, market internals are also provided that can put the stakeholders ahead of their competitors.

TABLE OF CONTENTS

1 INTRODUCTION 14
1.1 OBJECTIVES OF THE STUDY 14
1.2 MARKET DEFINITION 14
1.3 MARKET SCOPE 15
1.4 YEARS CONSIDERED FOR THE STUDY 16
1.5 CURRENCY 16
1.6 STAKEHOLDERS 17
2 RESEARCH METHODOLOGY 18
2.1 RESEARCH DATA 18
2.1.1 SECONDARY DATA 19
2.1.2 PRIMARY DATA 19
2.1.2.1 Breakdown of primaries 19
2.1.2.2 Key industry insights 20
2.2 MARKET SIZE ESTIMATION 21
2.3 MICROQUADRANT RESEARCH METHODOLOGY 23
2.3.1 VENDOR INCLUSION CRITERIA 23
2.4 RESEARCH ASSUMPTIONS AND LIMITATIONS 23
3 EXECUTIVE SUMMARY 24
4 PREMIUM INSIGHTS 27
4.1 ATTRACTIVE MARKET OPPORTUNITIES IN THE HUMAN CAPITAL MANAGEMENT MARKET 27
4.2 HUMAN CAPITAL MANAGEMENT MARKET, BY VERTICAL AND REGION 27
4.3 HUMAN CAPITAL MANAGEMENT MARKET, BY DEPLOYMENT TYPE 28
4.4 HUMAN CAPITAL MANAGEMENT MARKET, BY COMPONENT 28
4.5 HUMAN CAPITAL MANAGEMENT MARKET, BY ORGANIZATION SIZE 29
4.6 HUMAN CAPITAL MANAGEMENT MARKET POTENTIAL 29
4.7 LIFE CYCLE ANALYSIS, BY REGION (2017) 30
5 MARKET OVERVIEW AND INDUSTRY TRENDS 31
5.1 INTRODUCTION 31
5.2 INNOVATION SPOTLIGHT 31
5.3 MARKET DYNAMICS 32
5.3.1 DRIVERS 32
5.3.1.1 Simplified management of geographically spread workforce 32
5.3.1.2 Growing demand for mobile HCM applications 32
5.3.1.3 Increasing demand for talent mobility 33
5.3.2 RESTRAINTS 33
5.3.2.1 Security concerns over cloud-based deployment 33
5.3.3 OPPORTUNITIES 33
5.3.3.1 Growing shift toward cloud-based software solutions 33
5.3.3.2 Evolving potential markets 34
5.3.4 CHALLENGES 34
5.3.4.1 Organizations resistant to change traditional approach or adopt new solutions 34
5.3.4.2 Prevalent concerns about deployment and usage 34
6 HUMAN CAPITAL MANAGEMENT MARKET ANALYSIS, BY COMPONENT 35
6.1 INTRODUCTION 36
6.2 SOFTWARE 37
6.3 SERVICES 38
7 HUMAN CAPITAL MANAGEMENT MARKET ANALYSIS, BY SOFTWARE 39
7.1 INTRODUCTION 40
7.2 CORE HR 42
7.3 WORKFORCE MANAGEMENT 43
7.4 SOURCING AND RECRUITMENT 44
7.5 APPLICANT TRACKING SYSTEM 44
7.6 STAFFING VENDOR MANAGEMENT 45
7.7 OTHERS 46
8 HUMAN CAPITAL MANAGEMENT MARKET ANALYSIS, BY SERVICE 47
8.1 INTRODUCTION 48
8.2 INTEGRATION 49
8.3 SUPPORT AND MAINTENANCE 50
8.4 CONSULTING 51
9 HUMAN CAPITAL MANAGEMENT MARKET ANALYSIS, BY DEPLOYMENT MODEL 52
9.1 INTRODUCTION 53
9.2 ON-PREMISES 54
9.3 CLOUD 55
10 HUMAN CAPITAL MANAGEMENT MARKET ANALYSIS, BY ORGANIZATION SIZE 56
10.1 INTRODUCTION 57
10.2 LARGE ENTERPRISES 58
10.3 SMALL AND MEDIUM-SIZED ENTERPRISES 59
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11 HUMAN CAPITAL MANAGEMENT MARKET ANALYSIS, BY VERTICAL 60
11.1 INTRODUCTION 61
11.2 BANKING, FINANCIAL SERVICES, AND INSURANCE 62
11.3 GOVERNMENT 62
11.4 MANUFACTURING 63
11.5 TELECOM AND IT 64
11.6 CONSUMER GOODS AND RETAIL 64
11.7 HEALTHCARE AND LIFE SCIENCES 65
11.8 ENERGY AND UTILITIES 65
11.9 TRANSPORTATION AND LOGISTICS 66
11.10 OTHERS 67
12 GEOGRAPHIC ANALYSIS 68
12.1 INTRODUCTION 69
12.2 NORTH AMERICA 71
12.3 EUROPE 74
12.4 ASIA PACIFIC 77
12.5 MIDDLE EAST AND AFRICA 81
12.6 LATIN AMERICA 84
13 COMPETITIVE LANDSCAPE 88
13.1 MICROQUADRANT OVERVIEW 88
13.1.1 VISIONARY LEADERS 88
13.1.2 INNOVATORS 88
13.1.3 DYNAMIC DIFFERENTIATORS 88
13.1.4 EMERGING COMPANIES 88
13.2 COMPETITIVE BENCHMARKING 90
13.2.1 PRODUCT OFFERINGS 90
13.2.2 BUSINESS STRATEGIES 91
14 COMPANY PROFILES 93
(Overview, Financials, Products & Services, Strategy, and Developments)*
14.1 WORKDAY, INC. 93
14.2 ORACLE CORPORATION 96
14.3 SAP SE 99
14.4 KRONOS, INC. 102
14.5 AUTOMATIC DATA PROCESSING, LLC 105
14.6 ULTIMATE SOFTWARE GROUP, INC. 108
14.7 INTERNATIONAL BUSINESS MACHINES CORPORATION 111
14.8 SUMTOTAL SYSTEMS, LLC (A SKILLSOFT COMPANY) 114
14.9 EMPLOYWISE, INC. 116
14.10 PAYCOM SOFTWARE, INC. 118
14.11 CERIDIAN HCM, INC. 120
14.12 PEOPLESTRATEGY, INC. 122
14.13 INFOR 124
14.14 CORNERSTONE ONDEMAND, INC. 127
*Details on overview, financials, product & services, strategy, and developments might not be captured in case of unlisted companies.
15 APPENDIX 130
15.1 KEY INDUSTRY INSIGHTS 130
15.2 DISCUSSION GUIDE 131
15.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 135
15.4 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE 137
15.5 AVAILABLE CUSTOMIZATION 138
15.6 RELATED REPORTS 138
15.7 AUTHOR DETAILS 139