Market Research Report
Worldwide and U.S. Human Capital Management and Payroll Applications Forecast, 2018-2022
|Published by||IDC||Product code||658253|
|Published||Content info||11 Pages
Delivery time: 1-2 business days
|Worldwide and U.S. Human Capital Management and Payroll Applications Forecast, 2018-2022|
|Published: June 29, 2018||Content info: 11 Pages||
This IDC study provides a sizing of the human capital management (HCM) and payroll applications market in 2017 and a 2018-2022 forecast for this market. Historical and forecast revenue data is shown for the total worldwide market broken out by delivery method and by geographic region. Highlights include:The market for HCM applications remains strong. Worldwide growth in HCM applications in current currency for 2017 was 14%. Worldwide growth in payroll applications lagged slightly behind that of HCM applications at 12% in current currency in 2017.The combined market for HCM and payroll applications is forecast to reach $30 billion worldwide in 2022, growing at a CAGR of 9.5%.The Americas region represents the largest market for both HCM and payroll applications in 2017 and through the forecast period. EMEA represents the second-largest region, and Asia/Pacific is the smallest market. "Positioning successfully for the HR buyer requires a thorough understanding of the key drivers of HCM system change," says Lisa Rowan, research vice president, HR, Talent, and Learning Strategies for IDC. "The need for strong vendor viability is now overtaking all other buying criteria."