Europe Human Capital Management (HCM) Market, By Offering (Software, Services), Deployment Model (Cloud, On-Premises), Organization Size (Large Enterprises, Small and Medium-Sized Enterprises (SMEs)), End User (Banking, Financial Services and Insurance (BFSI), Government, IT and Telecommunication, Manufacturing, Transportation and Logistics, Energy and Utilities, Retail and Consumer Goods, Healthcare, Education, Hospitality and Others), Country (U.K., Germany, Spain, France, Netherlands, Italy, Sweden, Switzerland, Norway, Austria, Finland, Russia, Denmark, Turkey, Belgium, Luxembourg, Rest of Europe), Industry Trends and Forecast to 2028.
Europe human capital management (HCM) market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with the CAGR of 12.3% in the forecast period of 2021 to 2028 and expected to reach USD 17,053.28 million by 2028.
Human capital management refers to practices referring to human resource management. Human capital management helps identify the organization their specific needs concerning the human capital competencies. HCM is an important factor for the success of people driven organizations. The HCM is categorized as workforce acquisition, workforce management and workforce optimization. The efficient human capital management solution helps an organization to improve employee performance, increase retention and achieve better results.
The major factors driving the growth of the human capital management (HCM) market are surge in adoption of cloud services to manage office and field personnel, increasing necessity for workforce optimisation and rising focus on talent mobility. Increasing emphasis on mobile HR apps is creating opportunities for the growth of the market. Compliance with government data security regulation is acting as the major restraint for human capital management (HCM) market. Lack of skilled IT workforce in SMEs is acting as a major challenge for the growth of the market.
This Human capital management (HCM) market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Europe human capital management (HCM) market is segmented on the basis of offering, deployment model, organization size and end user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of offering, the Europe human capital management (HCM) market is segmented into software and services. In 2021, software segment is expected to dominate the human capital management (HCM) market as human capital management software reaps significant gains in talent retention while freeing up HR staff for value-added projects and minimizing audit findings.
- On the basis of deployment model, the Europe human capital management (HCM) market is segmented into cloud and on premises. In 2021, on premises segment is expected to dominate the human capital management (HCM) market as on premises applications are reliable, secure and allow enterprises to maintain a level of control that the cloud often cannot.
- On the basis of organization size, the Europe human capital management (HCM) market is segmented into large enterprises and small and medium-sized enterprises (SMEs). In 2021, large enterprises segment is expected to dominate the human capital management (HCM) market as large organizations have larger data of employees that is needed to be maintained and recorded with minimum error.
- On the basis of end user, the Europe human capital management (HCM) market is segmented into banking, financial services and insurance (BFSI), government, IT and telecommunication, manufacturing, transportation and logistics, energy and utilities, retail and consumer goods, healthcare, education, hospitality and others. In 2021, IT and telecommunication is expected to dominate the human capital management (HCM) market as the segment is being integrated with more advanced and digital technologies that incorporate more HR software to automate the processes.
Europe human capital management (HCM) market is segmented on the basis of offering, deployment model, organization size and end user.
The countries covered in Europe human capital management (HCM) market report are U.K., Germany, Spain, France, Netherlands, Italy, Sweden, Switzerland, Norway, Austria, Finland, Russia, Denmark, Turkey, Belgium, Luxembourg, Rest of Europe. In 2021, U.K. is expected to dominate the human capital management (HCM) market in the Europe region due to presence of large number of enterprises that make use of human capital management software and services.
The U.K. accounted for maximum share in the Europe human capital management (HCM) market, as large numbers of HR software providers are present in the region and more start-ups are being established. The Germany accounts for second largest market as the region has high growth in manufacturing industry that has large number of workforce which require HCM software for talent management and other HR activities. Spain has witnessed fast growth in local players involved in providing human capital management software and services in the region leading to third largest market share.
The country section of the Europe human capital management (HCM) market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rising Demand of Human Capital Management (HCM)
Europe human capital management (HCM) market also provides you with detailed market analysis for every country growth in installed base of different kind of products, impact of technology using life line curves and changes regulatory scenarios and their impact on the Europe human capital management (HCM) market. The data is available for historic year 2019.
Competitive Landscape and Europe Human Capital Management (HCM) Market Share Analysis
Europe human capital management (HCM) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to Europe human capital management (HCM) market.
Some of the major players operating in the Europe human capital management (HCM) market are IBM Corporation, SAP SE, Infor, UKG, Inc., Sumtotal Systems, LLC, Workday, Inc., Ramco Systems, Cegid, WorkForce Software, LLC, Epicor Software Corporation, Cezanne HR Limited, Cornerstone, Ceridian HCM, Inc., Oracle, Microsoft, ADP, Inc., Sage Group plc, PeopleFluent, Hi Bob, Inc., Personio GmbH, Sympa, Deltek, Inc., CIPHR Limited, Advanced, Accenture, Natural HR Limited among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
- In July 2021, Ramco Systems announced the launch of Artificial Intelligence-powered Self Explaining Payslip (SEP). This enabled the employers to give instant and detailed answers to payroll-related queries. This helped the companies than are looking for ways to enhance employee experience by digital transformation of payroll. The product lets employees seek explanation of their compensation and pay slip component. This enhanced the company’s offering in the market.
- In October 2020, Cegid announced the launch of new edition of Cegid Talent, its cloud-based talent management solution. The new edition called the Cegid Talent Plug & Play enabled easy deployment in customer organizations and optimizes recruitment, training and employee performance management processes in record time. The solutions offered three functional modules preconfigured for effective management of your recruitment, training and employee performance management processes. This enhanced the company’s human capital management offering in the market.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for Human capital management (HCM) market through expanded product range.
Customization Available: Europe Human Capital Management (HCM) Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.