Market Overview:
The global HCM suite application market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for cloud-based HCM applications and the growing need for HR solutions in various industries such as manufacturing, retail, financial services, government, and others. North America is expected to hold the largest share of the global HCM suite application market in 2018 followed by Europe and Asia Pacific. However, Asia Pacific is projected to witness highest growth rate during the forecast period owing to rising adoption of cloud-based applications and increasing demand for HR solutions in this region.
Product Definition:
HCM suite is an application that helps in managing the human resources of an organization. It includes modules for managing employee data, tracking payrolls, and administering benefits. The importance of HCM suite is that it allows organizations to manage all aspects of their human resources effectively and efficiently.
Cloud-based:
Cloud-based is a term used to define applications that are hosted on the cloud. The applications can be accessed from multiple devices such as laptops, smartphones and desktop computers through the internet. Cloud-based solutions offer benefits such as increased access to data, reduced costs and ease of accessibility irrespective of geographic boundaries. These solutions also help organizations in improving their productivity by eliminating paper processes and manual data entry resulting in faster time to market (TTM).
On-premises:
On-premises is a term used for software and hardware installation at the organization's headquarters. The on-premises software implementation is done directly by the company’s IT department, thereby reducing the need to purchase any additional services or licenses. On-premise solutions are developed and provided to organizations by various vendors including Oracle, SAP SE, Microsoft Corporation, IBM Corporation among others.
Application Insights:
The manufacturing segment dominated the global HCM suite application market in 2017. The growth of this segment can be attributed to the increasing penetration of digital technologies and analytics in the manufacturing sector. Various manufacturers are adopting cloud-based solutions as it offers various advantages such as on-demand resources, flexible deployment, and easy scalability. These solutions also offer a single source of truth, which enables companies to manage complex business processes from a single platform.
The retail segment is expected to register significant growth over the forecast period owing to several retailers¢â‚¬â„¢ efforts toward improving their operations through advanced analytics and data management tools that enable them make better decisions about store layout, product selection, marketing campaigns etc.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to retain its dominance throughout the forecast period owing to presence of major players, technological advancements, and high adoption rate of new technologies. Furthermore, increasing demand for HCM solutions due to rising need for improved employee engagement is also one of the significant factors driving regional growth.
Asia Pacific is expected to grow at a lucrative CAGR over the forecast period owing to increasing penetration of e-commerce companies in countries such as China and India which are leading consumers of cloud-based HCM software solutions. Increasing government initiatives such as “Make in India†campaign by Indian government are creating ample opportunities for manufacturing companies operating within country thus driving regional growth.
Growth Factors:
- Increasing demand for cloud-based HCM applications: The market for cloud-based HCM applications is expected to grow at a CAGR of 16.5% during the forecast period. This is due to the advantages offered by cloud-based solutions such as scalability, flexibility, and cost efficiency.
- Proliferation of mobile devices: The proliferation of mobile devices has led to an increase in the demand for mobile HR applications. These applications allow employees to access their HR data from anywhere and at any time.
- Emergence of social media: Social media has emerged as a powerful tool for recruiting employees and engaging with them online. Organizations are increasingly using social media platforms such as LinkedIn, Twitter, and Facebook to find potential candidates and attract talent pools .
Scope Of The Report
Report Attributes
Report Details
Report Title
HCM Suite Application Market Research Report
By Type
Cloud-based, On-premises
By Application
Manufacturing, Retail, Financial, Government, Others
By Companies
Workday, Oracle, SAP, Ceridian, ADP, Kronos, Globoforce, Skillsoft SumTotal, FinancialForce, GE API Healthcare, Infor, Ramco Systems, Unit4, Paycor, ZingHR, Sopra Steria, NGA Human Resources
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
179
Number of Tables & Figures
126
Customization Available
Yes, the report can be customized as per your need.
Global HCM Suite Application Market Report Segments:
The global HCM Suite Application market is segmented on the basis of:
Types
Cloud-based, On-premises
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Manufacturing, Retail, Financial, Government, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Workday
- Oracle
- SAP
- Ceridian
- ADP
- Kronos
- Globoforce
- Skillsoft SumTotal
- FinancialForce
- GE API Healthcare
- Infor
- Ramco Systems
- Unit4
- Paycor
- ZingHR
- Sopra Steria
- NGA Human Resources
Highlights of The HCM Suite Application Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Cloud-based
- On-premises
- By Application:
- Manufacturing
- Retail
- Financial
- Government
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the HCM Suite Application Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
HCM Suite Application is a comprehensive healthcare management software that helps hospitals and health systems manage their finances, clinical data, and patient records. It also provides tools to improve communication between doctors and patients, as well as with other healthcare providers.
Some of the major players in the hcm suite application market are Workday, Oracle, SAP, Ceridian, ADP, Kronos, Globoforce, Skillsoft SumTotal, FinancialForce, GE API Healthcare, Infor, Ramco Systems, Unit4, Paycor, ZingHR, Sopra Steria, NGA Human Resources.
The hcm suite application market is expected to register a CAGR of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 HCM Suite Application Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 HCM Suite Application Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 HCM Suite Application Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the HCM Suite Application Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global HCM Suite Application Market Size & Forecast, 2020-2028
4.5.1 HCM Suite Application Market Size and Y-o-Y Growth
4.5.2 HCM Suite Application Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Cloud-based
5.2.2 On-premises
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Manufacturing
6.2.2 Retail
6.2.3 Financial
6.2.4 Government
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global HCM Suite Application Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 HCM Suite Application Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Cloud-based
9.6.2 On-premises
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Manufacturing
9.10.2 Retail
9.10.3 Financial
9.10.4 Government
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Cloud-based
10.6.2 On-premises
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Manufacturing
10.10.2 Retail
10.10.3 Financial
10.10.4 Government
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Cloud-based
11.6.2 On-premises
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Manufacturing
11.10.2 Retail
11.10.3 Financial
11.10.4 Government
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Cloud-based
12.6.2 On-premises
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Manufacturing
12.10.2 Retail
12.10.3 Financial
12.10.4 Government
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Cloud-based
13.6.2 On-premises
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Manufacturing
13.10.2 Retail
13.10.3 Financial
13.10.4 Government
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 HCM Suite Application Market: Competitive Dashboard
14.2 Global HCM Suite Application Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Workday
14.3.2 Oracle
14.3.3 SAP
14.3.4 Ceridian
14.3.5 ADP
14.3.6 Kronos
14.3.7 Globoforce
14.3.8 Skillsoft SumTotal
14.3.9 FinancialForce
14.3.10 GE API Healthcare
14.3.11 Infor
14.3.12 Ramco Systems
14.3.13 Unit4
14.3.14 Paycor
14.3.15 ZingHR
14.3.16 Sopra Steria
14.3.17 NGA Human Resources
