Global Human Capital Management (HCM) Market Expected to Reach $63.14 Billion By 2032
Human Capital Management (HCM) is a collection of HR systems, tools, and practices used to recruit, attract, develop, train, retain, and manage employees to achieve business goals.
- Human Capital Management (HCM) is a collection of HR systems, tools, and practices used to recruit, attract, develop, train, retain, and manage employees to achieve business goals.
- The market growth is expected to be driven by the demand for people and performance management solutions.
- A report from Fortune Business Insights projected that the global Human Capital Management (HCM) market size, which was valued at USD 28.86 billion in 2023 is projected to grow from USD 31.34 billion in 2024 to USD 63.14 billion by 2032, exhibiting a CAGR of 9.1% during the forecast period.
- Many businesses are transitioning from traditional human capital management systems to cloud-based solutions to save on infrastructure and maintenance expenses.