Grand View Research, Inc. – Market Research And Consulting

According to a new report, “North America Human Capital Management Market Size, Share & Trends Analysis Report By Software, By Service, By Deployment, By Enterprise Size, By End Use, And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc., 

The growing demand for talent acquisition and increasing difficulties in managing widespread workforce are expected to drive the growth of the market for the management of human capital in North America over the forecast period. Moreover, the ever-increasing number of job applicants is making it challenging for HR professionals to hire ideal candidates with the desired skills and knowledge base. As a result, organizations are either outsourcing their hiring processes or adopting dedicated software/services to manage the data of all the applicants efficiently while ensuring the quality of interviews and maintaining a better joining ratio, thereby driving the growth of the hcm market for the management of human capital in North America.

Another driver that is driving the demand for human capital management software in North America is the increasing need among organizations to hire good candidates and retain valuable employees. HCM software can particularly help HR professionals because it includes tools for performance appraisals, competency management, goal alignment, and employee motivation. Increasing adoption of workforce planning & analytics software to improve business agility and deliver improved outcomes is further expected to drive the growth of the market for human capital management in North America over the forecast period.

Advances in technology have led to the development of various mobile applications and social collaboration software that offers both employees and employers the necessary flexibility to access data anytime and from anywhere. At the same time, several companies are also opting for HR analytics for predicting workforce requirement, tracking successors at higher levels, and gauging employees’ performance & satisfaction levels, thereby driving the growth of the market. Various initiatives being pursued by enterprises in North America to digitize the HR processes are also expected to drive the demand for HCM software in the region.

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Further key findings from the report suggest:

• The talent management segment is anticipated to grow at the highest CAGR of 13.3% from 2019 to 2025 owing to the advantages, such as enhanced workflow and improved productivity, offered by talent management tools

• The support & maintenance segment is expected to grow at a significant CAGR of 13.1% from 2019 to 2025 owing to the rising demand for support and maintenance services in line with the frequent updates being released by the vendors

• The hosted segment is anticipated to witness remarkable growth owing to the low implementation and maintenance costs associated with a hosted deployment

• The large enterprises segment dominated the market in 2018 and is expected to remain the largest segment over the forecast period owing to the growing emphasis of large enterprises on efficiently managing the vast database of their employees

• The retail segment is anticipated to grow at a significant CAGR of 13.4% from 2019 to 2025 as retail companies are trying hard to overcome challenges involved in employee retention

• The U.S. is expected to continue dominating the market over the forecast period owing to the increasing government initiatives and investments in digitizing the HR processes

• Key market players include Accenture PLC; Kronos Incorporated; Automatic Data Processing (ADP), Inc.; Cezanne HR Ltd.; Ceridian HCM, Inc.; NetSuite, Inc.; IBM Corporation; Mercer LLC; PricewaterhouseCoopers (PwC); Oracle Corporation; SAP SE; Workday, Inc.; Ultimate Software; and Talentsoft.

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Grand View Research has segmented the North America Human Capital Management market based on software, service, deployment, enterprise size, end use, and country:

North America Human Capital Management (HCM) Software Outlook (Revenue, USD Million, 2014 – 2025)

• Core HR

• Employee Collaboration & Engagement

• Recruiting

• Talent Management

• Workforce Planning & Analytics

• Others

North America Human Capital Management (HCM) Service Outlook (Revenue, USD Million, 2014 – 2025)

• Integration & Deployment

• Support & Maintenance

• Training & Consulting

North America Human Capital Management (HCM) Deployment Outlook (Revenue, USD Million, 2014 – 2025)

• Hosted

• On-premise

North America Human Capital Management (HCM) Enterprise Size Outlook (Revenue, USD Million, 2014 – 2025)

• Large Enterprises

• Small & Medium Enterprises

North America Human Capital Management (HCM) End Use Outlook (Revenue, USD Million, 2014 – 2025)

• Academia

• BFSI

• Government

• Healthcare

• IT & Telecom

• Manufacturing

• Retail

• Others

North America Human Capital Management (HCM) Country Outlook (Revenue, USD Million, 2014 – 2025)

• U.S.

• Canada

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 26 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 426 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 600 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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