The Human Capital Management by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).

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The Human Capital Management (HCM) market, as reported by The Business Research Company, has experienced rapid expansion recently. From 2024's $21.81 billion, it is projected to reach $24.01 billion by the same year, exhibiting a notable Compound Annual Growth Rate (CAGR) of 10.1%. This growth trajectory in the historical context stems from several factors: the emergence of cloud-based HR management software, substantial expansion within the e-commerce realm, and the accelerating forces of globalization.

Anticipated trends indicate a continued surge in the HCM market. By 2028, it is forecasted to surge to $35.39 billion, with a CAGR of 10.2%. This growth is underpinned by the escalating adoption of cloud-based methodologies, burgeoning urbanization, and heightened investment activities. Key trends in the forecasted period encompass AI-driven talent acquisition, technological breakthroughs, innovative product developments, video recruitment methodologies, Learning Experience Platforms (LEPs), and platforms aimed at enhancing employee productivity.

The integration of robotic process automation (RPA) is expected to propel the growth of the human capital management market going forward. Robotic process automation refers to automation that uses software robots to automate various repetitive tasks. RPA has several advantages, including time efficiency, increased focus on personnel development, retention, and policy implementation. RPA helps human capital management in the process of automating repetitive tasks such as compensation management, payroll management, onboarding of new people, and compliance reporting. For instance, according to Computer Economics, a US-based IT research firm, in 2021, 20% of organizations will have adopted robotic process automation, an increase of 13% from 2020. Therefore, the integration of robotic process automation is driving the growth of the human capital management market.

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The human capital management market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment Model: On-Premises, Cloud
3) By Organization Site: Small And Medium-sized Enterprises, Large Enterprises
4) By Vertical: Banking, Financial Services, And Insurance, Government, Manufacturing, Telecom And IT, Consumer Goods And Retail, Healthcare And Life Sciences, Energy And Utilities, Transportation And Logistics, Other Verticals

Moreover, technological advancement emerges as a pivotal trend reshaping the landscape of Human Capital Management. Leading enterprises within this sector are fervently engaged in the development of novel technologies and automated solutions to streamline operations. For instance, Ramco Systems, an India-based software corporation, unveiled the Self-Explaining Payslip in June 2021. This smart, AI-driven service empowers employees to seek explanations regarding their pay slip components, resolve payroll queries, and comprehend compensation structures.

The human capital management market report table of contents includes:
1. Executive Summary
2. Human Capital Management Market Characteristics
3. Human Capital Management Market Trends And Strategies
4. Human Capital Management Market - Macro Economic Scenario
5. Global Human Capital Management Market Size and Growth

32. Global Human Capital Management Market Competitive Benchmarking
33. Global Human Capital Management Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Human Capital Management Market
35. Human Capital Management Market Future Outlook and Potential Analysis
36. Appendix

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