Human Capital Management Software Market Overview and Insights:
According to Markntel Advisors Report, Human Capital Management Software Market size was valued at around USD 28 billion in 2024 and is projected to reach USD 47 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 9% during the forecast period, i.e., 2025-30.
Human Capital Management Software Market research is an ongoing process. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.
Industry Growth Driver:
Rising Demand for Cloud-Based Solutions for HR Management – The rising demand for cloud-based solutions is a key driver of growth in the Human Capital Management (HCM) Software Market. Cloud-based HCM systems are flexible, scalable, and available at relatively lower costs, which is quite appealing to companies of all sizes. Cloud solutions allow the data to be accessed remotely, thus expanding the organization’s flexibility, where remote work is likely to become more common. Cloud-based HCM systems also reduce the need for costly hardware and IT maintenance, as the software is hosted and managed by third-party providers. This makes it a more affordable option for small and medium-sized businesses as 62% of SMBs have adopted cloud-based HCM solutions, citing cost savings and flexibility as primary drivers and helping them compete with larger enterprises. As per Zoho, 81% of the Indian MSMEs are geared towards enhancing their cloud expenditure in the year 2025. It reflects that small businesses adopt more cloud-based HCM solutions.
What is Included in Human Capital Management Software Market Segmentation?
The report has segmented the market into the following categories:
By Solution
– Payroll Management-Market Size & Forecast 2020-2030 USD Million
– Talent Management- Market Size & Forecast 2020-2030, USD Million
– Workforce Management- Market Size & Forecast 2020-2030, USD Million
– Others- Market Size & Forecast 2020-2030, USD Million
By Enterprise Size
– Small Business- Market Size & Forecast 2020-2030, USD Million
– Mid-sized Business- Market Size & Forecast 2020-2030, USD Million
– Large Business-Market Size & Forecast 2020-2030, USD Million
By Deployment Mode
– Cloud -Market Size & Forecast 2020-2030, USD Million
– On-Premise- Market Size & Forecast 2020-2030, USD Million
The cloud segment is expected to witness significant expansion during the forecast period and holds approximately 30% market share. With scalability, flexibility, cost-effectiveness, and remote access, it is considered attractive to industries such as banking, health, and retail. This is a growing trend as businesses are increasingly turning toward digital transformation, cloud HCM easily integrates with most existing systems, facilitating the automation of many traditional human resource management tasks while also enhancing the security of all employee-related data and enabling remote work. It is integrated with real-time data and automated information processing. Cloud HCM can assist an organization in making good decisions about candidates in the process of hiring. With the growing demand for flexible HR solutions, especially due to the shift towards remote work, the cloud segment is expected to lead the HCM market. This shift to cloud technology not only lowers costs but also speeds up implementation, contributing to the market’s growth in the forecast years.
By End User
– Banking & Financial Services-Market Size & Forecast 2020-2030, USD Million
– Retail & E-Commerce-Market Size & Forecast 2020-2030, USD Million
– Government & Public Sector-Market Size & Forecast 2020-2030, USD Million
– Others, (Professional, Healthcare Sector, etc.)-Market Size & Forecast 2020-2030, USD Million
By Region
– North America
– South America
– Europe
– The Middle East & Africa
– Asia-Pacific
Who are the Key Players Operating in the Human Capital Management Software Industry?
The top companies of the Human Capital Management Software market ruling the industry are:
- Oracle Corporation
- SAP AG
- Product Portfolio
- Workday, Inc.
- Ultimate Software Group, Inc.
- IBM Corporation
- Talentia Software
- The Sage Group Plc.
- Meta4 Global
- Infor
- WebHR
- ADP LLC
- People fluent
- BambooHR
- Sage HR
- Dayforce
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FAQs (Frequently Ask Questions)
- What are the industry’s overall statistics or estimates including CARG and USD Value of the forecasting years?
- What are the trends influencing the current scenario of the Human Capital Management Software Market?
- What are the key factors that would propel and hinder the industry?
- Which geographical area dominates the Human Capital Management Software industry?
- Which is the Leading segment in the market?
About US:
MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.
We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.
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