Human Capital Management Market Worth $17.49 Billion by 2019 – New Report by MarketsandMarkets
(PRWEB) March 13, 2015 -- This MarketsandMarkets report forecasts human capital management market to reach $17.49 Billion by 2019 at a Compound Annual Growth Rate (CAGR) of 9.8% during the forecasted period.
Browse 77 market data Tables and 68 Figures spread through 141 Pages and in-depth TOC on "Human Capital Management Market - Global Forecast to 2019"
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Human Capital Management is at its growing stage and is expected to rise exponentially due to enhancement of technology in this sector. Today companies are demanding real-time based solutions for the workers so that they can accomplish their task without any delay or interruption. Also organizations are in need of software solutions that can solve specific demands which CRM and ERP failed to do. Thus human capital managment is becoming quite popular among the HR professionals in the organization. Furthermore the increasing demand of HR solutions among large enterprises as well as SMB's are also helping market to progress with an explosive growth rate.
Human capital managment provides assistance to businesses in improving their efficiency and productivity by offering proficient software solutions such as core HR, workforce management, performance management, recruiting, learning management, compensation management, employee collaboration and engagement. These solutions are gaining traction in various industry verticals such as manufacturing, BFSI, healthcare, retail, education, energy and utilities to name a few.The factors driving this market are the emerging advancements in technology, increasing demand for talent mobility and rise in demand among enterprises to improve workforce management.
Lack of awareness of the human capital managment software is the major restraint for the growth of market. The organizations are adopting such solutions at relatively slow pace. Companies preferably use the integrated human capital managment suite rather than the individual and dedicated software solutions.
The benefit that human capital managment provides to their end- user is the low operational and implementation cost of its solutions. These solutions can be deployed as on-premise and cloud both by organizations according to their budget. The human capital managment solutions are flexible enough that they can be proficiently deployed on smartphones, laptops and other smart devices.
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