Top Companies in Human Capital Management Industry - Workday (US) and Oracle (US)
The HCM market is expected to grow at a Compound Annual Growth Rate (CAGR) of 8.5% during the forecast period, from USD 27.5 billion by 2024 to USD 41.3 billion by 2029. The adoption of HCM solutions is expected to be driven by the increasing need of organizations to enhance business efficiency, improve scalability and flexibility, and make informed decisions.
Major vendors in this market are in North America, Europe, and the Asia Pacific region. Workday (US), UKG (US), Oracle (US), SAP (Germany), and Dayforce (US) are among the leading players operating in the HCM market. These players have adopted many growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, collaborations, mergers, acquisitions, and new product development activities to expand market presence.
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Workday
Workday was founded in 2005, and its headquarters is in California, US. The company's main areas of expertise include professional services automation, financial management, business planning, and HR analytics software and services. It provides software customized to the client's needs and cloud-based human capital management. Integrating talent management, workforce planning, and HR into a system facilitates total workforce visibility. Customers of Workday come from a wide range of industry verticals, including manufacturing, media and entertainment, retail, technology, healthcare, higher education, energy and utilities, financial services, government, and the life sciences. The company employs over 12,200 people worldwide and serves over 700 clients.
Oracle
Founded in 1977, Oracle is headquartered in Texas, US. Oracle provides various Human Capital Management (HCM) tools, including Talent Management, Workforce Management, HR, and AI apps. The business uses on-premises software, hardware, and services while operating on the cloud. In addition to these services, it develops software for supply chain management (SCM), HRM, and ERP. It is prevalent in emerging technologies such as blockchain, artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT). With over 136,000 workers, Oracle serves customers in the Americas, Europe, the Middle East, and Asia. It provides services for the following industry verticals: consumer goods, automotive, financial services, healthcare, hotel, retail, education and research, and construction and engineering.
Related Reports:
Human Capital Management Market by Offering (Software (Core HR, ATS, HR Analytics, and Workforce Management) and Services), Deployment Model, Organization Size, Vertical (BFSI, Manufacturing, IT & Telecom, Government) & Region - Global Forecast to 2029
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