The North America human capital management (HCM) market size is anticipated to reach USD 10.2 billion until 2025. It is projected to register growth with 10.5% CAGR from 2019 to 2025. This growth can be associated with the rapid technological advances like IT (Information & Technology) and AI (Artificial Intelligence) coupled with the surging need for human capital management solutions.
In 2018, the integration and deployment segment was valued USD 646.9 million owing to the rising adoption of these solutions across several organizations. While the support and maintenance service segment is also projected to gain substantial growth from 2019 to 2025 due to the increasing need for support and maintenance of such solutions.
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The hosted deployment segment is projected to gain traction in the upcoming years on account of flexibility and control offered by it. On the other hand, the on-premise deployment segment is being used by some organizations due to the rising concerns over the security of data and restrictions over the third party data accessibility.
The U.S. dominated the HCM market across North America on account of the rising adoption of such solutions by several organizations for facilitating the management of employee data. Moreover, Canada is also anticipated to register significant growth in the upcoming years on account of the emerging IT & Telecom Industry.
The North America HCM market includes key players such as Accenture PLC; Ceridian HCM, IBM Corporation; Oracle Corporation; and SAP SE. These players are investing hugely in research, development, and launching updates for their software. Also, strategies like mergers, collaboration, and acquisitions to gain a competitive advantage over other players.
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Further key findings from the report suggest:
• The segment of support & maintenance is anticipated to register 13.1% CAGR over the forecasted years.
• The retail end use segment is projected to witness significant growth with 13.4% over the forecasted years, 2019 to 2025.
• The U.S. dominated the market with revenue of USD 4,148.5 Million in 2018.
• The key players are Accenture PLC; Ceridian HCM, IBM Corporation; Oracle Corporation; and SAP SE.
Million Insights has segmented the North America human capital management market on the basis of software, service, deployment, enterprise size, end use, and countries:
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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