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Human Capital Management (HCM) Market to Reach USD 32.68 Billion by 2027; Rising Popularity of Cloud Technologies to Encourage Market, states Fortune Business Insights™

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Pune, Sept. 02, 2020 (GLOBE NEWSWIRE) — The global human capital management (HCM) market size is expected to reach USD 32.68 billion by 2027, exhibiting a CAGR of 9.3% during the forecast period. The increasing proclivity of companies towards artificial intelligence (AI) and machine learning embedded RPA to eliminate unnecessary IT costs will foster the growth of the market, states Fortune Business Insights, in a report, titled “Human Capital Management (HCM) Market Size, Share & COVID-19 Impact Analysis, By Offering (Solution and Services), By Deployment (Cloud, and On-Premises), By Enterprise Size (SMEs, and Large Enterprises), By End-use Industry (IT and Telecommunication, BFSI, Government, Retail, Healthcare, Education, Manufacturing, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 16.24 billion in 2019.Click here to get the short-term and long-term impact of COVID-19 on this market.

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The coronavirus incident has caused immense loss to all the industries across the globe. The governments of several countries have instigated lockdown to thwart the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.The report on human capital management (HCM) market incorporates:Comprehensive analysis of all the segmentsEmerging trends in the industryForemost market driversPresent and future insightsDominant regions
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Market Driver:Rising Focus towards Effective Workforce Management to Incite DevelopmentThe growing cognizance about HCM among originations owing to its effectiveness and efficiency in managing a large workforce and customer base can accelerate market sales during the forecast period. The increasing adoption of intelligent workforce solutions especially in the time of pandemic will enable speedy expansion of the market. for instance, in May 2020, Infor, a multi-national enterprise software company, headquartered in New York City, United States announced the launch of the workforce management (WFM) solution integrated with intelligent scheduling in China. The robust tool will help the organizations to provide efficient staff scheduling and workforce utilization.Economic Instability to Retard Market Growth During COVID-19The unprecedented spike in global unemployment has limited the scope of the market amid coronavirus. For instance, ADP, Inc. states that the United States private sector has expelled 20 million jobs in April 2020. Likewise, the United States Congressional Budget Office estimates that 15% of people are more likely to be unemployed by the third quarter of 2020. The financial loss caused by coronavirus has steered to the downsizing of many organizations, therefore restricting the growth of the market for human capital management. However, new policies and regulations to contain the situation and improve employment rates will consequently create opportunities for the market.
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Regional Analysis:Globalization and Advancements to Boost Market in North AmericaThe market for human capital management in North America stood at USD 7.86 billion in 2019 and is expected to rise tremendously during the forecast period. The growth in the region is attributed to ongoing technological advancement. The increasing globalization and improved work culture will influence healthy growth in North America. The growing adoption of industry 4.0, data analytics, and cloud computing by organizations is expected to drive the market in Asia Pacific. Europe is expected to witness a substantial growth rate owing to the increasing employment. The advent of startups and businesses are expected to spur opportunities for the market in Europe during the forecast period.Key Development:April 2020 – Cezanne HR Ltd unveiled an integrated payroll module for Cezanne’s HR suite. The payroll module is specifically designed for UK organizations including Wales and Scotland to provide online payroll and pension management solutionsList Of key Companies in the Human Capital Management (HCM) Market:Automatic Data Processing (ADP), Inc. (New Jersey, United States)Ceridian HCM, Inc.  (Minnesota, United States)Cezanne HR Ltd.  (London, United Kingdom)Cornerstone OnDemand, Inc. (California, United States)IBM Corporation (New York, United States)Infor (New York, United States)Kronos, Incorporated (Massachusetts, United States)NetSuite, Inc. (California, United States)Oracle Corporation (California, United States)SAP SE (Walldorf, Germany)Talentsoft (France, Europe)Ultimate Software (Florida, United States)Workday, Inc. (California, United States
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Detailed Table of ContentIntroductionDefinition, By SegmentResearch Methodology/ApproachData SourcesExecutive SummaryMarket DynamicsMacro and Micro Economic IndicatorsDrivers, Restraints, Opportunities and TrendsImpact of COVID-19Short-term ImpactLong-term ImpactCompetition LandscapeBusiness Strategies Adopted by Key PlayersConsolidated SWOT Analysis of Key PlayersPorter’s Five Force AnalysisGlobal Human Capital Management (HCM) Market Share Analysis and Matrix, 2019Key Human Capital Management (HCM) Market Insights and Analysis, By SegmentsGlobal Human Capital Management (HCM) Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027By Offering (Value)SolutionsCore HRTalent ManagementWorkforce ManagementPayroll & Compensation OthersServicesBy Deployment (Value)CloudOn-premiseBy Enterprise Size (Value)SME’sLarge EnterprisesBy End-use Industry (Value)IT and TelecommunicationBFSIGovernmentRetailHealthcareEducationManufacturingOthersBy Region (Value)North AmericaEuropeAsia PacificMiddle East & AfricaLatin America
TOC Continued..
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Have a Look at Related Research Insights:Artificial Intelligence (AI) Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware, Software, and Services), By Technology (Computer Vision, Machine Learning, Natural Language Processing, and Others), By Deployment (Cloud, On-premises), By Industry (Healthcare, Retail, IT & Telecom, BFSI, Automotive, Advertising & Media, Manufacturing, and Others) and Regional Forecast, 2020-2027Robotic Process Automation (RPA) Market Size, Share & Industry Analysis, By Deployment (On-premise, Cloud), By Application (Administration and Reporting, Customer Support, Data Migration & Capture Extraction, Analytics, and Others), By Operation (Rule-based, Knowledge-based), By Industry (Retail, Manufacturing and Logistics Industry, BFSI, Healthcare, IT and Telecom, Hospitality, and Others), and Regional Forecast, 2019-2026Workforce Management Market Size, Share & Industry Analysis, By Component (Software, and Services), By Deployment (On-Premise, and Cloud), By Enterprise Size (SMEs and Large Enterprises), By Application (Workforce Analytics, Workforce Scheduling, Time and Attendance Management, and Others), By End-Use Industry (IT and Telecommunication, BFSI, Government, Retail, Healthcare, Education, Manufacturing, and Others) and Regional Forecast, 2019-2026Talent Management Software Market Size, Share & Industry Analysis, By Component (Solution and Services), By Solution (Performance Management, Talent Acquisition, Learning Management, Compensation Management, and Others), By Enterprise Size (SMEs and Large Enterprises), By Deployment (Cloud and On-premise), By Industry (IT and Telecommunication, BFSI, Government, Healthcare, Education, Manufacturing, and Others), and Regional Forecast, 2019-2026
About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Contact Us:
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