09 Nov 2020
Human capital management (HCM) is a crucial part of any organization, government entities and other small to large corporations. Due to growing industrialization, the numbers of people in the organization are increasing with a rapid pace. Hence, to handle such a huge number of employees the digitally-controlled software’s are being used that performs various functions of accessing the human behavior, performance and collect the day to day activities in the organization. This software helps and supports human resources in the organization and helps to take the appropriate decisions. In addition to this, the human capital management software makes the task easy and more efficient so that to manage employee’s management, acquisition, mergers, and optimization of people in the organizations, to develop future leaders, transparent processes, and a digital HR experience in the organizations. Recently, cutting edge technologies like artificial intelligence, machine learning technologies, block chain, cloud based software and many others are being used for the daily accessing of human behavior. In 2018, Workday Software Company acquired Stories.bi for the usage of advanced technology by analytics and adaptive insights for cloud-based enterprise performance management, human capital management and business intelligence. Recently, during the Covid-19 pandemic in April 2020, to face the imposed challenges Oracle had offered free access to its workforce health and safety solution to help HR professionals for its current human capital management cloud customers.
Human Capital Management (HCM) Software Market is valued at USD 14.78 Billion in 2018 and expected to reach USD 28.99 Billion by 2025 with the CAGR of 10.1% over the forecast period.
The key factor driving the growth of global human capital management (HCM) software market is increasing industrialization which leads to surge in manpower which require for human resource management using the information technology, digital platforms & digitalization.
North America is expected to dominate the global human capital management (HCM) software market with the potential rate due to surge in information technology services with technological advancement using IoT, cloud-based platforms, artificial intelligence and electronic industries in this region followed by Europe. According to the CompTIA organization, the United States is the world’s largest tech market accounted around 32% of the total global technology shares with an estimation of approximately USD 1.7 trillion for 2020 the size of the U.S. market.
SAP SE, IBM, Net Suite, Oracle Corporation, Workday, Inc., Ultimate Software Group, Ceridian, Paycom, Cornerstone OnDemand, Beeline, Azure, Benefit focus, Blackboard, Bullhorn, Businessolver, Campus Management, and others
SAP SE is a German multinational software corporation established in 1972 and headquarter in Walldorf, BW. Specialties in ERP, Financials, Business Intelligence, Procurement, HCM, SCM, business, planning, efficiency, sustainability, innovation, analytics, reporting, and dashboarding.
International Business Machines Corporation is an American multinational technology and consulting company Established in 1911 and headquarter in Armonk, New York, NY.
IBM is a leading cloud platform and cognitive solutions company Specialties in Cloud, Mobile, Cognitive, Security, Research, Watson, Analytics, Consulting, Commerce, Experience Design, Internet of Things, Technology support, Industry solutions, Systems services, Resiliency services, Financing, and IT infrastructure.
NetSuite Inc. was an American cloud computing company established in 1998 and headquarter in Redwood Shores, CA.
Specialties in Global Business Applications, SaaS, Cloud Computing, On-demand, Platform, ERP, CRM, Marketing Automation, PSA, Financial Software, SaaS Business Software, and Ecommerce.
Oracle Corporation is an American multinational computer technology corporation established in 1977 and headquarter in Redwood Shores, CA.
Specialties in enterprise, software, applications, database, middleware, fusion, business intelligence, Primavera, PeopleSoft, EPM, BEA, Hyperion, Retek, Utilities, On-Demand, server & storage systems, BPM, solutions for communications industry, ERP, CRM, CRM On Demand, JDE, and Siebel
Ultimate Software is an American technology company established in 1993 and headquarter in Weston, FL. Specialties in Human Resources, Payroll, SaaS, Human Capital Management, HR, HCM, Talent Management, Business Intelligence, Recruitment, Onboarding, Salary Planning & Budgeting, Performance Management, People Management, Benefits Management, and Time and Attendance
Ceridian is a global human capital management software company established in 2012 and headquarter in Minneapolis, MN. Specialties in Onboarding, Payroll, Performance Management, Time & Attendance, Benefits, Document Management, Workforce Management, Dashboards, Recruiting, Learning, Succession Planning, and On-Demand Pay.
Paycom Software, Inc., is an American online payroll company established in 1998 and headquarter in Oklahoma City, Oklahoma. Specialties in Payroll Processing, HR, Human Resources, Tax Credits, HRIS, Benefits Administration, Software-as-a-Service, SaaS, Time and Attendance, Talent Acquisition, HR Management, Talent Management, Learning Management, Human Capital Management, Technology, Employee Self-Service, and Employee Engagement.
Along with these leading players, there are number of other small and mid-sized players who are coming with huge investment and innovative product launch in the Human capital management Software industry.