Market Overview:
The global human capital management (HCM) suite applications market is expected to grow from USD 2.02 billion in 2018 to USD 4.06 billion by 2030, at a CAGR of 10.5% from 2018 to 2030. The growth of the market can be attributed to the increasing demand for cloud-based and web-based HCM suite applications among small and medium enterprises (SMEs) and large enterprises across the globe. Moreover, the growing need for automating HR processes is also fueling the growth of this market.
 Suite Applications Industry Outlook.svg)
Product Definition:
HCM suite applications are used to manage employee data and processes. They can include modules for tracking hiring, onboarding, performance management, compensation, benefits, and more. HCM suites can help organizations optimize their workforce planning and better manage their human capital resources.
Cloud-Based:
Cloud-based software is a type of service that allows users to access data or applications from remote locations through the internet. The cloud provides shared computer resources over a network, making it easier for businesses and consumers to share information across multiple sites, devices, and departments.
The HCM suite includes various modules such as Human Capital Management (HCM) application server, human resource planning & management system and web-based analytics module among others.
Web-Based:
The Web-Based (WBI) is a software technology that enables organizations to manage their employee benefit programs and other HRM activities online. The WBI solution includes several modules such as payroll, time & attendance, recruitment, training & development and others. It also provides access to the employee data from any location through web browser or mobile device with no additional hardware required for the implementation of WBI solutions.
Application Insights:
The SME segment dominated the global human capital management (HCM) suite applications market in 2017. The growth can be attributed to factors such as increasing penetration of smartphones and internet connectivity, which has enabled small businesses to access advanced HCM solutions at affordable costs. Furthermore, growing awareness among SMEs regarding employee engagement is driving the adoption of these solutions. For instance, 99Taps launched a cloud-based HCM solution for small and medium-sized enterprises that helps them manage their employees¢â‚¬â„¢ data from any device with an internet connection by accessing 99Taps portal through smartphone or computer using a secure logon ID and password.
The large enterprise segment is expected to witness significant growth over the forecast period owing to factors such as an increase in mergers & acquisitions activities by large companies for gaining competitive advantage over smaller rivals; increasing focus on digitization initiatives by large organizations;.
Regional Analysis:
The market in North America accounted for the largest revenue share in 2017. The region is expected to continue its dominance over the forecast period, owing to factors such as increasing adoption of HCM solutions by SMEs and large enterprises. Moreover, growing awareness regarding human capital management among enterprises is also driving growth in this region. Furthermore, presence of a large number of vendors that provide cloud-based HCM solutions and high spending capacity of organizations on improving employee productivity are some other factors contributing to regional growth.
Asia Pacific is anticipated to be the fastest-growing regional market from 2018 to 2030 due rising focus on developing human resources within various organizations across countries such as India and China. In addition, increasing government initiatives aimed at promoting digitalization are further likely boost demand for HCMSolutions in APAC during the forecast period.
Growth Factors:
- Increased demand for HCM applications from small and medium-sized businesses (SMBs) due to the need to manage employee data more effectively and efficiently.
- The growing trend of BYOD (Bring Your Own Device) in the workplace, which is driving the demand for mobile-friendly HCM applications.
- Rapid advancements in technology, which are making it easier for organizations to adopt cloud-based HCM solutions.
- The increasing focus on workforce optimization by organizations, as they look to get more value out of their employees through better HR processes and analytics tools.
- The globalization of business operations, which is leading companies to seek out comprehensive HCM solutions that can support multi-language capabilities and multiple currencies
Scope Of The Report
Report Attributes
Report Details
Report Title
Human Capital Management (HCM) Suite Applications Market Research Report
By Type
Cloud-Based, Web-Based
By Application
SME (Small and Medium Enterprises), Large Enterprise
By Companies
Oracle, ADP, SAP, Ceridian, Kronos, Globoforce, Skillsoft (SumTotal Systems), ZingHR, GE API Healthcare, FinancialForce, Infor, Paycor, Ramco Systems
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
144
Number of Tables & Figures
101
Customization Available
Yes, the report can be customized as per your need.
Global Human Capital Management (HCM) Suite Applications Market Report Segments:
The global Human Capital Management (HCM) Suite Applications market is segmented on the basis of:
Types
Cloud-Based, Web-Based
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
SME (Small and Medium Enterprises), Large Enterprise
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:
- Oracle
- ADP
- SAP
- Ceridian
- Kronos
- Globoforce
- Skillsoft (SumTotal Systems)
- ZingHR
- GE API Healthcare
- FinancialForce
- Infor
- Paycor
- Ramco Systems
 Suite Applications Market Overview.svg)
Highlights of The Human Capital Management (HCM) Suite Applications 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
- Web-Based
- By Application:
- SME (Small and Medium Enterprises)
- Large Enterprise
- 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 Human Capital Management (HCM) Suite Applications 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
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
 Suite Applications Market Statistics.svg)
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 Applications is a suite of applications that helps organizations manage human capital. The suite includes Human Capital Management (HCM) software, which helps organizations manage employee data and performance; Employee Relationship Management (ERM) software, which helps organizations manage relationships between employees and managers; and Talent Acquisition Solutions (TAS), which help Organizations identify, assess, and recruit the best talent.
Some of the key players operating in the human capital management (hcm) suite applications market are Oracle, ADP, SAP, Ceridian, Kronos, Globoforce, Skillsoft (SumTotal Systems), ZingHR, GE API Healthcare, FinancialForce, Infor, Paycor, Ramco Systems.
The human capital management (hcm) suite applications market is expected to register a CAGR of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Human Capital Management (HCM) Suite Applications 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 Human Capital Management (HCM) Suite Applications Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Human Capital Management (HCM) Suite Applications 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 Human Capital Management (HCM) Suite Applications 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 Human Capital Management (HCM) Suite Applications Market Size & Forecast, 2018-2028
4.5.1 Human Capital Management (HCM) Suite Applications Market Size and Y-o-Y Growth
4.5.2 Human Capital Management (HCM) Suite Applications Market Absolute $ Opportunity
Chapter 5 Global Human Capital Management (HCM) Suite Applications 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 Human Capital Management (HCM) Suite Applications Market Size Forecast by Type
5.2.1 Cloud-Based
5.2.2 Web-Based
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Human Capital Management (HCM) Suite Applications 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 Human Capital Management (HCM) Suite Applications Market Size Forecast by Applications
6.2.1 SME (Small and Medium Enterprises)
6.2.2 Large Enterprise
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Human Capital Management (HCM) Suite Applications 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 Human Capital Management (HCM) Suite Applications 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 Human Capital Management (HCM) Suite Applications Analysis and Forecast
9.1 Introduction
9.2 North America Human Capital Management (HCM) Suite Applications 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 Human Capital Management (HCM) Suite Applications Market Size Forecast by Type
9.6.1 Cloud-Based
9.6.2 Web-Based
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 Human Capital Management (HCM) Suite Applications Market Size Forecast by Applications
9.10.1 SME (Small and Medium Enterprises)
9.10.2 Large Enterprise
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 Human Capital Management (HCM) Suite Applications Analysis and Forecast
10.1 Introduction
10.2 Europe Human Capital Management (HCM) Suite Applications 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 Human Capital Management (HCM) Suite Applications Market Size Forecast by Type
10.6.1 Cloud-Based
10.6.2 Web-Based
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 Human Capital Management (HCM) Suite Applications Market Size Forecast by Applications
10.10.1 SME (Small and Medium Enterprises)
10.10.2 Large Enterprise
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 Human Capital Management (HCM) Suite Applications Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Human Capital Management (HCM) Suite Applications 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 Human Capital Management (HCM) Suite Applications Market Size Forecast by Type
11.6.1 Cloud-Based
11.6.2 Web-Based
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 Human Capital Management (HCM) Suite Applications Market Size Forecast by Applications
11.10.1 SME (Small and Medium Enterprises)
11.10.2 Large Enterprise
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 Human Capital Management (HCM) Suite Applications Analysis and Forecast
12.1 Introduction
12.2 Latin America Human Capital Management (HCM) Suite Applications 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 Human Capital Management (HCM) Suite Applications Market Size Forecast by Type
12.6.1 Cloud-Based
12.6.2 Web-Based
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 Human Capital Management (HCM) Suite Applications Market Size Forecast by Applications
12.10.1 SME (Small and Medium Enterprises)
12.10.2 Large Enterprise
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) Human Capital Management (HCM) Suite Applications Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Human Capital Management (HCM) Suite Applications 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) Human Capital Management (HCM) Suite Applications Market Size Forecast by Type
13.6.1 Cloud-Based
13.6.2 Web-Based
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) Human Capital Management (HCM) Suite Applications Market Size Forecast by Applications
13.10.1 SME (Small and Medium Enterprises)
13.10.2 Large Enterprise
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 Human Capital Management (HCM) Suite Applications Market: Competitive Dashboard
14.2 Global Human Capital Management (HCM) Suite Applications Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Oracle
14.3.2 ADP
14.3.3 SAP
14.3.4 Ceridian
14.3.5 Kronos
14.3.6 Globoforce
14.3.7 Skillsoft (SumTotal Systems)
14.3.8 ZingHR
14.3.9 GE API Healthcare
14.3.10 FinancialForce
14.3.11 Infor
14.3.12 Paycor
14.3.13 Ramco Systems
