Human Capital Management Software Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)

The HCM software market is expanding as businesses seek to boost productivity through enhanced HR Management software and mobile Employee Management applications. The shift towards mobile-centric usage and the need for updated HRIS software is driving market growth. Despite data security concerns, the use of HRMS software and cloud-based Personnel Management solutions is increasing. The market, segmented by solution, deployment, and geography, is fragmented with both emerging and established vendors vying for significant market share.

Human Capital Management Software Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)

HCM Software Industry Overview

The market is fragmented, with new vendors offering specific services over the cloud, such as application tracking or Employee Onboarding. Legacy software giants and ERP providers are also gaining a significant market share and making the market more competitive.

  • February 2023 - GoCo announced that the company has launched its flexible HR platform for SMBs by adding new features such as new template library, new integrations with E-Verify by Tracker I-9, enhancements to onboarding, Paychex, and popular learning management systems. with this the company makes it easy for HR to eliminate manual tasks. 
  • September 2022 - SkyHive has released SkyHive Answers, a cloud-based application giving business users immediate, accurate, and detailed answers to their most pressing questions regarding their human capital strategy. SkyHiveAnswers eliminates the need for rigorous human data analysis, complex data processing, and time-consuming research by utilizing SkyHive's Labor Market Intelligence.

HCM Software Market Leaders

  1. SAP AG

  2. Oracle Corporation

  3. Workday, Inc.

  4. Ultimate Software Group, Inc.

  5. ADP, LLC.

  6. *Disclaimer: Major Players sorted in no particular order
Human Capital Management Software Market Concentration

Human Capital Management Software Market Report Snapshots

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