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Human Capital Management Market Projected to Grow USD 28.93 Billion at a 8.2% CAGR by 2030 – Report by Market Research Future (MRFR)

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New York, US, Sept. 28, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Human Capital Management Market, By Component, By Organization size, By Deployment, By End-User – Forecast 2030”, the market will reach USD 28.93 billion at an 8.2% CAGR by 2030.

HCM Market Growth Drivers

Rising Adoption of Cloud-Based HCM Software to Boost Market Growth 

Many corporate sectors, including BFSI, healthcare, retail, IT & communications, manufacturing, and media & entertainment, are quickly adopting cloud-based HCM solutions. These solutions enable secure access to many administrative tasks via an HR employee access portal. This effectively allows employees to access their data from anywhere utilizing desktop or mobile devices. This will accelerate market expansion during the anticipated timeframe.

Key Players 

Eminent industry players profiled in the global human capital management market report include,

  • SAP SE (Germany)
  • IBM (U.S.)
  • Workforce Software (U.S.)
  • Software AG (Germany)
  • WORKDAY (U.S.)
  • ADP LLC (U.S.)
  • Oracle Corporation (U.S.)
  • Ultimate Software (U.S.)
  • LinkedIn (U.S.)
  • Zenefits (U.S.)
  • Infor (U.S.)
  • Talentsoft (France)
  • Kronos Inc. (U.S.) and among others.

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Human Capital Management Market Opportunities 

Integration of ML and AI in HCM Suites to offer Robust Opportunities 

Since business operations are becoming more complex daily as a result of the adoption of cutting-edge technologies and innovations, the majority of companies across all industries are experiencing a shortage of highly trained workers. As a result, HR managers around the world have trouble finding the right people for the right jobs. HCM suites can assist HR managers in discovering skilled workers by utilizing Artificial Intelligence (AI) and Machine Learning (ML) technology. Automation of the hiring process and the addition of more filters that aid in selecting the perfect candidate are both possible with AI and ML.

Report Scope:

Report Metrics Details
  Market Size by 2030 USD 28.93 Bullion
  CAGR during 2022-2030 8.2%
 Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
 Key Market Opportunities Managing the cost-effective assessment efficiently by the large workforce of a big organization drives up the human capital management market growth opportunities.
  Key Market Drivers Rise in human capital management market growth takes place due to the rise in mobile applications and the widespread demand for workforce optimization.

Browse In-depth Market Research Report (155 Pages) on Human Capital Management Market:

https://www.marketresearchfuture.com/reports/human-capital-management-market-2485

Restraints and Challenges 

Data Security to act as Market Restraint 

Data security & privacy concerns associated with cloud deployment may act as market restraints over the forecast period.

Human Capital Management Market Segmentation 

The global human capital management market is bifurcated based on end user, deployment, organization size, and component.

By component, service will lead the market over the forecast period.

By organization size, SMEs will dominate the market over the forecast period.

By deployment, cloud will spearhead the market over the forecast period.

By end user, IT/ITES will have the lions share in the market over the forecast period.

COVID-19 Analysis 

All enterprises have been affected by the COVID-19, creating a demanding and complex environment for managers and human resource management (HRM) professionals who must come up with creative solutions to maintain the viability of their businesses & assist their staff in navigating this crisis. By giving employees opportunities for professional learning and progress, human capital management has aided HR departments in retaining and fostering talent. Additionally, it has assisted in controlling time and labor, scheduling, and related expenditures, monitoring expenses for particular projects and other costs, and creating a culture of pay-for-performance during the COVID-19 pandemic. As a result, the human capital management sector benefited from the pandemic.

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Human Capital Management Market Regional Analysis 

APAC to Head Human Capital Management Market 

Due to the existence of numerous HCM suppliers and the growing usage of cloud-native technologies, Asia Pacific is anticipated to represent the largest market during the projection period. Huge investments in industries like BFSI, healthcare, retail, manufacturing, telecommunications, & IT are being made by major nations like China and Japan, and this has fueled development and economic expansion in the APAC region. During the projection period, Asia Pacific is anticipated to have significant growth. In the upcoming years, a professional and talented workforce will be required due to the growth of startups and the adoption of new technologies like data analytics, Industry 4.0, cloud computing, and artificial intelligence. Thus, it is anticipated that managing and attracting skilled workers will increase demand for workforce management solutions throughout the region. In 2021, the human capital management market had a sizable revenue share for the Asia-Pacific region. Asia Pacific will account for the maximum revenue share in the market during the projected period due to the existence of an array of HCM vendors and the rising popularity of cloud-native technologies. A significant CAGR is anticipated in the global market for human capital management in Asia Pacific.

North America to Have Favorable Growth in Human Capital Management Market 

It is expected that North America will dominate the worldwide market. The region’s market will increase as a result of the rising adoption of cutting-edge technology, smartphones, and workforce analytics solutions. In accordance to the U.S. Bureau of Labor Statistics, 2018 and 2028, employment in the healthcare sector is anticipated to grow exponentially by more than 14%. The predicted increase in demand for healthcare services can be ascribed to the increasing prevalence of diseases and research and development in the healthcare industry. Healthcare providers are therefore more likely to utilize workforce management systems to manage and recruit their workforce. The greatest revenue share for the human capital management market was in North America. Market growth in the area is a result of continual technological development. Growth in North America will be influenced favorably by more globalization and improved workplace environments. Rapid developments in IT and artificial intelligence (AI) are also necessary to support the growth of the North American HCM market.

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The examination of initiatives and aggressive investment chances in digitizing human capital resource operations to boost organizational efficiency is another factor anticipated to propel demand for the human capital management market. The market is anticipated to expand primarily because to the expansion of HCM solutions offered via a Software as a Service delivery model.

Related Reports:

HCM Software Market, By Software, Services, Deployment, End User – Forecast till 2030

Global Mobile Money Market, by Transaction Mode, by Industry, by Financial Services – Forecast 2030

ERP Software Market Research Report: Information By Deployment, Function, Vertical, Organization Size – Forecast till 2030

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

Elevate Your Virtual Reality Experience with KIWI design RGB Vertical Stand, Now Available on Meta’s Website

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LOS ANGELES, May 11, 2024 /PRNewswire/ — Top-tier VR accessories provider KIWI design has launched its latest product, the RGB Vertical Stand. This Meta-authorized accessory, designed to deepen users’ immersion in the metaverse, is now available on the official Meta website.

“KIWI design’s commitment to pushing the boundaries of virtual reality accessories takes another leap forward with the introduction of our new products,” said Ray,the CEO of KIWI design. “We are always dedicated to bringing innovative upgrades to VR device accessories, with the goal of enriching users’ virtual reality experiences.”
The newly launched RGB Vertical Stand features a user-friendly modular design with push-in assembly, making it easy to set up and use. It is compatible with Meta Quest 3, Quest 2, and Quest Pro, ensuring widespread usability. With a magnetic USB Type-C connector, it provides an effortless way to charge and display your headset. Users can also customize their display with 16 pre-set ambient multicolor RGB light options.
With VR technology constantly evolving, users are seeking more immersive experiences. As a leading manufacturer of VR accessories, KIWI design is committed to enhancing the user experience, through unique product designs. Since its establishment in 2015, KIWI design has acquired over 100 patents and has a diverse product lineup, including head straps, facial interfaces, VR stands, charging accessories, and controller grip covers.
KIWI design has also actively participated in the Made for Meta program, which is provided by Meta to strengthen its partnerships with leading brands to deliver accessories that enhance Meta products with more choice and a richer experience for everyone. KIWI design’s participation in this program validates its high-quality design standards.
The RGB Vertical Stand for Meta Quest 3, Quest 2, and Quest Pro and another specially designed authorized charging dock for the Meta  Oculus Quest 2 are now available for purchase on both KIWI design’s website and Amazon. For more information about our brand and products, please visit our website and follow KIWI design on Facebook, Instagram, X, YouTube and TikTok.
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WIO Taps Gracenote to Revolutionize Television Broadcast Reporting

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LOS ANGELES, May 11, 2024 /PRNewswire/ — WIO LLC, parent company of the global TV broadcast airings platform, WIOpro™, has announced a new strategic agreement with Gracenote, the global content data business unit of Nielsen, to address the longstanding challenge of accurately tracking and collecting music royalties generated by broadcast television and digital programming, With this agreement, WIO will integrate Gracenote TV program metadata and show airings into its WIOpro™ (“When’s It On – Professional”) platform enabling performance rights organizations, copyright management organizations and other entities to better monitor broadcast schedules and identify when royalties have been earned.

By integrating Gracenote historical program data into WIOpro’s new LookBack™ feature, WIO is enhancing its reporting capabilities and empowering Collection Societies, Rights Management Companies and the royalty-earning community to more easily monitor and export broadcast airings and better understand collections opportunities.
“At WIO, we are committed to empowering collection societies and copyright holders around the world with our platform tools and unprecedented access to the best and most accurate television broadcast and streaming data available,” said Shawn Pierce, Co-Founder and CEO of WIO LLC. “We have enjoyed an incredible relationship with Gracenote for 10 years. With the solidification of this agreement, we are able to deliver an unrivaled dataset to the royalty and residual community in a way that has not been offered before.” said Adam Shafron, Co-Founder and CTO of WIO LLC.
“WIO’s platform developed to solve the difficult matter of royalty tracking only becomes more powerful based on the integration of accurate, timely and comprehensive Gracenote metadata,” said Scott Monahan, Director, Strategic Partnerships, Gracenote. “We look forward to the combination of WIOpro’s technology and Gracenote’s program metadata delivering on the promise of transforming music royalty collection so that rights holders can be fairly compensated for use of their work.”
WIO and Gracenote will be at the MusicBiz 2024 conference in Nashville, TN May 13 – 16. Contact Dave Pelman, COO of WIO LLC at [email protected] for media queries or to book an appointment for a product demonstration.
About WIO:WIO is a technology company dedicated to providing broadcast television and digital programming data tailored specifically for the royalty and residual collection industry. Through its platform WIOpro (wiopro.com), users obtain access to real-time broadcast insights, reporting and curated data delivery.
About Gracenote:Gracenote is the content data business unit of Nielsen providing entertainment metadata, connected IDs and related offerings to the world’s leading creators, distributors and platforms. Gracenote enables advanced content navigation and discovery capabilities helping individuals easily connect to the TV shows, movies, music, podcasts and sports they love while delivering powerful content analytics making complex business decisions simpler.
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IDTechEx Explores Printed Electronics in Electrified and Autonomous Mobility

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BOSTON, May 10, 2024 /PRNewswire/ — Electrification, autonomy, and vehicle ownership saturation are causing a technological revolution in the automotive sector. These automotive meta-trends are driving drastic changes in electronic component requirements and present a high-volume opportunity for printed electronics to capitalize on.

Historically, printed electronics technologies have nurtured a close relationship with the automotive sector, with printed force sensors pioneering passenger safety through seat occupancy and seatbelt detection. As such, the automotive sector continues to represent the lion’s share of the global printed and flexible sensor market, which IDTechEx’s report on the topic evaluates as worth US$421M in 2024. However, if the automotive sector is to continue to be a reliable revenue stream, printed electronics technology providers must adapt to address the emerging technical challenges facing future mobility.
Augmenting autonomous vehicles with printed electronics
As vehicle autonomy levels advance, the increasing number and distribution of spatial mapping sensors required will need continuous performance improvements to ensure passenger safety. Emerging printed electronics technologies can augment these sensors, extending detection bandwidth and maximizing reliability during operation.
Transparent conductive films (TCFs) are being developed to heat and defog LiDAR sensor panels, ensuring the function is unperturbed by external environmental conditions. Properties such as high transparency and low haze are important for defogging. These properties can be easily tuned using the wide variety of material options available for TCFs, including carbon nanotubes and silver nanowires.
IDTechEx identifies printed heating as a leading application of transparent conductive films. This is attributed to diminishing growth prospects in capacitive touch sensing applications. Innovations in thin film coating techniques have enabled indium tin oxide (ITO) to dominate touch sensing applications, all but displacing TCFs completely.
Looking towards the future, printed electronics technologies could play a more active role in advanced autonomous driving. Emerging semiconductive materials, such as quantum dots, printed directly onto conventional silicon image sensor arrays can extend detection range and sensitivity deeper into the infrared region. Augmenting existing image sensor technology with enhanced spectral range could facilitate the competition of hybrid silicon sensors with established InGaAs detectors.
Printed sensors promise granularized battery health monitoring
Vehicle electrification is driving the sustained development and evolution of electronic management systems, particularly in the battery and electric drivetrain. A strong market pull exists for technologies that increase vehicle efficiency, range, and lifetime while reducing recharge times.
Printed pressure and temperature sensors measure battery cell swelling and thermal profiles, providing granularized physical data that can be used to optimize battery deployment and recharging. Moreover, hybrid printed sensors that combine integrated printed heating elements promise a solution to actively address battery temperature. IDTechEx estimates that printed sensor-enabled battery deployment and charging optimizations could be worth up to US$3000 in savings per vehicle.
There remains uncertainty about whether electrification trends will correspond to increased demand for physical sensors in electric vehicle batteries, owing to the utility of existing electronic readouts for managing deployment. Virtual sensors also pose a threat, where AI-enabled software models interpret data to predict and emulate physical sensor functions without the need for discreet components. However, emerging regulations regarding safety and sensor redundancy will likely favor measurable metrics and see automotive makers continue to adopt physical sensors. IDTechEx predicts that virtual sensors are unlikely to displace their physical counterparts – so long as low-cost sensors remain widely available.
Embedding printed electronics in the car of the future
IDTechEx predicts that global car sales will saturate over the next decade, with automakers increasingly looking for premium features and technical innovations to differentiate themselves from the competition. In-cabin technologies will be highly desirable – as the location where passengers reside and interact with the vehicle the most.
Lighting elements are emerging as a prominent differentiator, described as “the new chrome” by Volkswagen’s chief designer. The use of in-mold structural electronics (IMSE) enables the integration of embedded lighting elements using existing manufacturing processes. 3D electronics technologies are intrinsically attractive for automotive integration, as functional layers are conformable and lightweight while easily embedded within existing aesthetic elements.
Despite strong tailwinds, the adoption of in-mold electronics within automotive interiors has been sluggish. This is attributed to the challenges of meeting automotive qualification requirements, as well as stiff competition with less sophisticated alternatives such as applying functional films to thermoformed parts. Nevertheless, momentum is building, with technology providers like Tactotek partnering with Mercedes-Benz and Stallantis to progress the automotive validation of IMSE to TRL5.
Outlook for printed electronics in automotive applications
Just as printed force sensors heralded early passenger safety systems, printed electronics technology is poised to underpin next-generation innovations for the car of the future. But this time, the competition will be stiff. Critical cost requirements must be met, while desirable new functionality must address existing challenges faced by manufacturers. Printed electronics can play a role in supporting emerging electrified and autonomous mobility, such as augmenting LiDAR sensors or optimizing electric battery deployment. Demand for technologies that enhance passenger experience and vehicle aesthetics will continue to grow, and printed electronics can supply low-power, lightweight lighting solutions for these.
Sustained engagement from tier suppliers and manufacturers continues to make the automotive sector key to printed sensor market growth opportunities – a total market IDTechEx predicts will reach US$960M by 2034. Strong partnerships between material providers and printed electronics technology providers are complementary to those of the highly vertically integrated automotive value chains between tier suppliers and OEMs. Leveraging printing techniques to provide solutions that slot into existing manufacturing processes and designs will be crucial. In the medium term, the printed electronics technologies most likely to realize revenue potential are those that can adapt to service emerging challenges already known to the automotive industry.
For more information on IDTechEx’s research on this topic, please see their report, “Printed and Flexible Sensors 2024-2034: Technologies, Players, Markets”. Downloadable sample pages are available for this report.
For the full portfolio of printed and flexible electronics market research from IDTechEx, please visit www.IDTechEx.com/Research/PE.
About IDTechEx:
IDTechEx provides trusted independent research on emerging technologies and their markets. Since 1999, we have been helping our clients to understand new technologies, their supply chains, market requirements, opportunities and forecasts. For more information, contact [email protected] or visit www.IDTechEx.com. 
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