Human Capital Management (HCM) Market by Product Type, End-Users, and Geography (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2032

Description

Persistence Market Research has conducted an in-depth analysis of the global Human Capital Management (HCM) Market, providing comprehensive insights into market dynamics, growth drivers, challenges, and emerging trends. This report serves as a valuable resource for stakeholders, offering detailed data and statistics to navigate the evolving landscape of human resource management from 2024 to 2032.

The size of the global human capital management (HCM) market is expected to rapidly increase from US$ 23.82 Bn in 2024 to US$ 43.1 Bn by 2032, at a high CAGR of 7.7%.

Key Insights:

Estimated Market Value (2024): US$ 23.82 Bn
Projected Market Value (2032): US$ 43.1 Bn
Global Market Growth Rate (CAGR 2024 to 2032): 7.7% CAGR

HCM Market - Report Scope:

The HCM market is witnessing significant transformation fueled by technological advancements, changing workforce demographics, and evolving organizational structures. Key factors driving market growth include the shift towards digital HR platforms, the rise of remote and flexible work arrangements, and the increasing focus on talent management and development. As organizations prioritize employee well-being and productivity, the demand for integrated HCM solutions that offer capabilities such as performance management, learning management, and workforce analytics is on the rise.

Market Growth Drivers:

The adoption of cloud-based HCM solutions is a major growth driver, as organizations seek scalable and cost-effective HR technologies that can support their evolving needs. The shift towards remote work and virtual collaboration has accelerated the demand for HCM platforms that enable seamless communication, collaboration, and employee engagement. Moreover, the growing importance of data-driven decision-making in HR processes is driving the adoption of HCM solutions with advanced analytics and reporting capabilities. As organizations strive to attract, develop, and retain top talent in a competitive market, investment in HCM technologies has become essential for driving business performance and maintaining a competitive edge.

Market Restraints:

Despite the benefits offered by HCM solutions, challenges such as data security concerns, integration complexities, and resistance to change pose barriers to adoption for some organizations. Data privacy regulations and compliance requirements add complexity to HCM implementations, particularly in multinational organizations operating in different jurisdictions. Additionally, legacy systems and siloed HR processes hinder the seamless integration of HCM solutions, leading to inefficiencies and data inconsistencies. Furthermore, cultural resistance to technology adoption and lack of digital skills among HR professionals can impede the successful implementation and utilization of HCM platforms.

Market Opportunities:

The HCM market presents significant opportunities for vendors to innovate and differentiate their offerings in a crowded marketplace. Key areas of opportunity include the development of AI-driven HCM solutions that leverage machine learning algorithms to automate repetitive tasks, personalize employee experiences, and provide actionable insights. Furthermore, there is growing demand for mobile-first HCM applications that enable anytime, anywhere access to HR services and information. As organizations increasingly prioritize diversity, equity, and inclusion (DEI) initiatives, there is a need for HCM solutions that support bias-free recruitment, talent development, and performance management processes. Additionally, the emergence of the gig economy and contingent workforce presents new challenges and opportunities for HCM vendors to provide solutions tailored to the needs of flexible workers and remote teams.

Key Questions Addressed in the Report:

What is the Expected Growth Rate of the HCM Market?
What are the Key Factors Driving Adoption of HCM Solutions?
Which Regions are Poised for Significant Growth in the HCM Market?
Who are the Key Players in the Global HCM Market?
What Strategies are Adopted by Leading Companies to Sustain Growth in the HCM Market?

Competitive Landscape and Business Strategies:

Prominent players in the HCM market include SAP SE, Oracle Corporation, and Workday, Inc. These companies focus on product innovation, strategic partnerships, and acquisitions to strengthen their market position and expand their customer base. Strategies such as offering industry-specific solutions, enhancing user experience, and investing in AI and analytics capabilities are key to driving differentiation and sustaining growth in a competitive market.

Key Companies Profiled:

SAP SE
Oracle Corporation
Workday, Inc.
ADP, Inc.
Ultimate Software Group, Inc.
Kronos Incorporated
IBM Corporation
Ceridian HCM Holding Inc.
Infor, Inc.
Cornerstone OnDemand, Inc.

HCM Market Segmentation:

By Solution:

HCM Software

Integrated Human Capital Management (HCM) Suite

Independent /Standalone solutions

Recruitment Management
Talent Management
Performance Management
Feedback Management (Feedback 360)
Learning Management and Learning Experience
Employee Engagement
Social Network for Collaboration Platform
Pulse Survey Tools
Rewards and Recognition Tools
Gamification
Learning Experience Management (LXP)
HCM Services

Managed Services

Professional Services

Consulting Services
Integration & Implementation
Support & Maintenance

By Deployment:

Cloud-based HCM Solutions
On-premise HCM Solutions

By Enterprise Size:

HCM Solutions for Large Enterprises
HCM Solutions for Small & Medium Enterprises (SMEs)

By Industry:

IT & Telecom
BFSI
Retail
Healthcare
Government
Manufacturing
Education
Others

By Region:

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Product Code: PMRREP33033

1. Executive Summary

1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations

3. Key Market Trends

3.1. Key Trends Impacting the Market
3.2. Human Capital Management Solution Innovation / Development Trends

4. Pricing Analysis

4.1. Pricing Analysis, By Software
4.2. Global Average Pricing Analysis Benchmark
4.3. Regional Pricing Analysis

5. Key Features/ Capabilities of HCM Platform

5.1. Workforce management
5.2. Staffing and Hiring
5.3. Payroll Processing
5.4. Time and Attendance Tracking
5.5. Performance Management
5.6. Compensation Management
5.7. Feedback Management
5.8. Others

6. Global Human Capital Management (HCM) Market Demand (in Value or Size in US$ Mn) Analysis 2019-2023 and Forecast, 2024-2032

6.1. Historical Market Value (US$ Mn) Analysis, 2019-2023
6.2. Current and Future Market Value (US$ Mn) Projections, 2024-2032
- 6.2.1. Y-o-Y Growth Trend Analysis
- 6.2.2. Absolute $ Opportunity Analysis

7. Market Background

7.1. Macro-Economic Factors
- 7.1.1. GDP Growth Outlook
- 7.1.2. Internet Penetration Rates
- 7.1.3. ICT Spending Growth
- 7.1.4. Education Levels & Literacy Rates
- 7.1.5. Unemployment Rates
7.2. Forecast Factors - Relevance & Impact
- 7.2.1. Historic Growth Rate of major HCM Solution Vendors
- 7.2.2. Business Impact of COVID-19 on Regional Economy
- 7.2.3. HR Function Outsourcing Demand
- 7.2.4. Digital Transformation in HR Functions
7.3. Value Chain Analysis
7.4. COVID-19 Crisis - Impact Assessment
- 7.4.1. Current Statistics
- 7.4.2. Short-Mid-Long Term Outlook
- 7.4.3. Likely Rebound
7.5. Market Dynamics
- 7.5.1. Drivers
- 7.5.2. Restraints
- 7.5.3. Opportunity Analysis

8. Global Human Capital Management (HCM) Market Analysis 2019-2023 and Forecast 2024-2032, By Solution

8.1. Introduction / Key Findings
8.2. Historical Market Size (US$ Mn) Analysis By Solution, 2019-2023
8.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Solution, 2024-2032
- 8.3.1. Software
  - 8.3.1.1. Integrated Human Capital Management (HCM) Suite
  - 8.3.1.2. Independent /Standalone solutions
    - 8.3.1.2.1. Recruitment Management
    - 8.3.1.2.2. Talent Management
    - 8.3.1.2.2.1. Performance Management
    - 8.3.1.2.2.2. Feedback Management (Feedback 360)
    - 8.3.1.2.2.3. Learning Management and Learning Experience
    - 8.3.1.2.3. Employee Engagement
    - 8.3.1.2.3.1. Social Network for Collaboration Platform
    - 8.3.1.2.3.2. Pulse Survey Tools
    - 8.3.1.2.3.3. Rewards and Recognition Tools
    - 8.3.1.2.3.4. Gamification
    - 8.3.1.2.3.5. Learning Experience Management (LXP)
- 8.3.2. Services
  - 8.3.2.1. Managed Services
  - 8.3.2.2. Professional Services
    - 8.3.2.2.1. Consulting Services
    - 8.3.2.2.2. Integration & Implementation
    - 8.3.2.2.3. Support & Maintenance
8.4. Market Attractiveness Analysis By Solution

9. Global Human Capital Management (HCM) Market Analysis 2019-2023 and Forecast 2024-2032, by Deployment

9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Mn) Analysis By Deployment, 2019-2023
9.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Deployment, 2024-2032
- 9.3.1. Cloud-based
- 9.3.2. On-premises
9.4. Market Attractiveness Analysis By Deployment

10. Global Human Capital Management (HCM) Market Analysis 2019-2023 and Forecast 2024-2032, by Enterprise Size

10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ Mn) Analysis By Enterprise Size, 2019-2023
10.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Enterprise Size, 2024-2032
- 10.3.1. Large Enterprises
- 10.3.2. Small & Medium Enterprises (SMEs)
10.4. Market Attractiveness Analysis By Enterprise Size

11. Global Human Capital Management (HCM) Market Analysis 2019-2023 and Forecast 2024-2032, By Industry

11.1. Introduction / Key Findings
11.2. Historical Market Size (US$ Mn) Analysis By Industry, 2019-2023
11.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Industry, 2024-2032
- 11.3.1. IT & Telecom
- 11.3.2. BFSI
- 11.3.3. Retail
- 11.3.4. Healthcare
- 11.3.5. Government
- 11.3.6. Manufacturing
- 11.3.7. Education
- 11.3.8. Others
11.4. Market Attractiveness Analysis By Industry

12. Global Human Capital Management (HCM) Market Analysis 2019-2023 and Forecast 2024-2032, by Region

12.1. Introduction
12.2. Historical Market Size (US$ Mn) Analysis By Region, 2019-2023
12.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Region, 2024-2032
- 12.3.1. North America
- 12.3.2. Latin America
- 12.3.3. Europe
- 12.3.4. East Asia
- 12.3.5. South Asia and Pacific
- 12.3.6. Middle East and Africa (MEA)
12.4. Market Attractiveness Analysis By Region

13. North America Human Capital Management (HCM) Market Analysis 2019-2023 and Forecast 2024-2032

13.1. Introduction
13.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2019-2023
13.3. Current and Future Market Size (US$ Mn) Forecast By Market Taxonomy, 2024-2032
- 13.3.1. By Country
  - 13.3.1.1. U.S.
  - 13.3.1.2. Canada
- 13.3.2. By Solution
- 13.3.3. By Deployment
- 13.3.4. By Enterprise Size
- 13.3.5. By Industry
13.4. Market Attractiveness Analysis
- 13.4.1. By Country
- 13.4.2. By Solution
- 13.4.3. By Deployment
- 13.4.4. By Enterprise Size
- 13.4.5. By Industry

14. Latin America Human Capital Management (HCM) Market Analysis 2019-2023 and Forecast 2024-2032

14.1. Introduction
14.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2019-2023
14.3. Current and Future Market Size (US$ Mn) Forecast By Market Taxonomy, 2024-2032
- 14.3.1. By Country
  - 14.3.1.1. Brazil
  - 14.3.1.2. Mexico
  - 14.3.1.3. Rest of Latin America
- 14.3.2. By Solution
- 14.3.3. By Deployment
- 14.3.4. By Enterprise Size
- 14.3.5. By Industry
14.4. Market Attractiveness Analysis
- 14.4.1. By Country
- 14.4.2. By Solution
- 14.4.3. By Deployment
- 14.4.4. By Enterprise Size
- 14.4.5. By Industry

15. Europe Human Capital Management (HCM) Market Analysis 2019-2023 and Forecast 2024-2032

15.1. Introduction
15.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2019-2023
15.3. Current and Future Market Size (US$ Mn) Forecast By Market Taxonomy, 2024-2032
- 15.3.1. By Country
  - 15.3.1.1. Germany
  - 15.3.1.2. Italy
  - 15.3.1.3. France
  - 15.3.1.4. U.K.
  - 15.3.1.5. Spain
  - 15.3.1.6. BENELUX
  - 15.3.1.7. Russia
  - 15.3.1.8. Rest of Europe
- 15.3.2. By Solution
- 15.3.3. By Deployment
- 15.3.4. By Enterprise Size
- 15.3.5. By Industry
15.4. Market Attractiveness Analysis
- 15.4.1. By Country
- 15.4.2. By Solution
- 15.4.3. By Deployment
- 15.4.4. By Enterprise Size
- 15.4.5. By Industry

16. East Asia Human Capital Management (HCM) Market Analysis 2019-2023 and Forecast 2024-2032

16.1. Introduction
16.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2019-2023
16.3. Current and Future Market Size (US$ Mn) Forecast By Market Taxonomy, 2024-2032
- 16.3.1. By Country
  - 16.3.1.1. China
  - 16.3.1.2. Japan
  - 16.3.1.3. South Korea
- 16.3.2. By Solution
- 16.3.3. By Deployment
- 16.3.4. By Enterprise Size
- 16.3.5. By Industry
16.4. Market Attractiveness Analysis
- 16.4.1. By Country
- 16.4.2. By Solution
- 16.4.3. By Deployment
- 16.4.4. By Enterprise Size
- 16.4.5. By Industry

17. South Asia and Pacific Human Capital Management (HCM) Market Analysis 2019-2023 and Forecast 2024-2032

17.1. Introduction
17.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2019-2023
17.3. Current and Future Market Size (US$ Mn) Forecast By Market Taxonomy, 2024-2032
- 17.3.1. By Country
  - 17.3.1.1. India
  - 17.3.1.2. Malaysia
  - 17.3.1.3. Indonesia
  - 17.3.1.4. Singapore
  - 17.3.1.5. Australia & New Zealand
  - 17.3.1.6. Rest of South Asia & Pacific
- 17.3.2. By Solution
- 17.3.3. By Deployment
- 17.3.4. By Enterprise Size
- 17.3.5. By Industry
17.4. Market Attractiveness Analysis
- 17.4.1. By Country
- 17.4.2. By Solution
- 17.4.3. By Deployment
- 17.4.4. By Enterprise Size
- 17.4.5. By Industry

18. Middle East and Africa Human Capital Management (HCM) Market Analysis 2019-2023 and Forecast 2024-2032

18.1. Introduction
18.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2019-2023
18.3. Current and Future Market Size (US$ Mn) Forecast By Market Taxonomy, 2024-2032
- 18.3.1. By Country
  - 18.3.1.1. GCC Countries
  - 18.3.1.2. Turkey
  - 18.3.1.3. Northern Africa
  - 18.3.1.4. South Africa
  - 18.3.1.5. Rest of Middle East and Africa
- 18.3.2. By Solution
- 18.3.3. By Deployment
- 18.3.4. By Enterprise Size
- 18.3.5. By Industry
18.4. Market Attractiveness Analysis
- 18.4.1. By Country
- 18.4.2. By Solution
- 18.4.3. By Deployment
- 18.4.4. By Enterprise Size
- 18.4.5. By Industry

19. Country-wise Human Capital Management (HCM) Market Analysis

19.1. U.S. Human Capital Management (HCM) Market Analysis
- 19.1.1. By Solution
- 19.1.2. By Deployment
- 19.1.3. By Enterprise Size
- 19.1.4. By Industry
19.2. Canada Human Capital Management (HCM) Market Analysis
- 19.2.1. By Solution
- 19.2.2. By Deployment
- 19.2.3. By Enterprise Size
- 19.2.4. By Industry
19.3. Mexico Human Capital Management (HCM) Market Analysis
- 19.3.1. By Solution
- 19.3.2. By Deployment
- 19.3.3. By Enterprise Size
- 19.3.4. By Industry
19.4. Brazil Human Capital Management (HCM) Market Analysis
- 19.4.1. By Solution
- 19.4.2. By Deployment
- 19.4.3. By Enterprise Size
- 19.4.4. By Industry
19.5. Germany Human Capital Management (HCM) Market Analysis
- 19.5.1. By Solution
- 19.5.2. By Deployment
- 19.5.3. By Enterprise Size
- 19.5.4. By Industry
19.6. Italy Human Capital Management (HCM) Market Analysis
- 19.6.1. By Solution
- 19.6.2. By Deployment
- 19.6.3. By Enterprise Size
- 19.6.4. By Industry
19.7. France Human Capital Management (HCM) Market Analysis
- 19.7.1. By Solution
- 19.7.2. By Deployment
- 19.7.3. By Enterprise Size
- 19.7.4. By Industry
19.8. U.K. Human Capital Management (HCM) Market Analysis
- 19.8.1. By Solution
- 19.8.2. By Deployment
- 19.8.3. By Enterprise Size
- 19.8.4. By Industry
19.9. Spain Human Capital Management (HCM) Market Analysis
- 19.9.1. By Solution
- 19.9.2. By Deployment
- 19.9.3. By Enterprise Size
- 19.9.4. By Industry
19.10. Russia Human Capital Management (HCM) Market Analysis
- 19.10.1. By Solution
- 19.10.2. By Deployment
- 19.10.3. By Enterprise Size
- 19.10.4. By Industry
19.11. China Human Capital Management (HCM) Market Analysis
- 19.11.1. By Solution
- 19.11.2. By Deployment
- 19.11.3. By Enterprise Size
- 19.11.4. By Industry
19.12. Japan Human Capital Management (HCM) Market Analysis
- 19.12.1. By Solution
- 19.12.2. By Deployment
- 19.12.3. By Enterprise Size
- 19.12.4. By Industry
19.13. S. Korea Human Capital Management (HCM) Market Analysis
- 19.13.1. By Solution
- 19.13.2. By Deployment
- 19.13.3. By Enterprise Size
- 19.13.4. By Industry
19.14. India Human Capital Management (HCM) Market Analysis
- 19.14.1. By Solution
- 19.14.2. By Deployment
- 19.14.3. By Enterprise Size
- 19.14.4. By Industry
19.15. Malaysia Human Capital Management (HCM) Market Analysis
- 19.15.1. By Solution
- 19.15.2. By Deployment
- 19.15.3. By Enterprise Size
- 19.15.4. By Industry
19.16. Indonesia Human Capital Management (HCM) Market Analysis
- 19.16.1. By Solution
- 19.16.2. By Deployment
- 19.16.3. By Enterprise Size
- 19.16.4. By Industry
19.17. Singapore Human Capital Management (HCM) Market Analysis
- 19.17.1. By Solution
- 19.17.2. By Deployment
- 19.17.3. By Enterprise Size
- 19.17.4. By Industry
19.18. Australia and New Zealand Human Capital Management (HCM) Market Analysis
- 19.18.1. By Solution
- 19.18.2. By Deployment
- 19.18.3. By Enterprise Size
- 19.18.4. By Industry
19.19. Turkey Human Capital Management (HCM) Market Analysis
- 19.19.1. By Solution
- 19.19.2. By Deployment
- 19.19.3. By Enterprise Size
- 19.19.4. By Industry
19.20. North Africa Human Capital Management (HCM) Market Analysis
- 19.20.1. By Solution
- 19.20.2. By Deployment
- 19.20.3. By Enterprise Size
- 19.20.4. By Industry
19.21. South Africa Human Capital Management (HCM) Market Analysis
- 19.21.1. By Solution
- 19.21.2. By Deployment
- 19.21.3. By Enterprise Size
- 19.21.4. By Industry

20. Market Structure Analysis

20.1. Market Analysis by Tier of Companies
20.2. Market Share Analysis of Top Players
20.3. Market Presence Analysis

21. Competition Analysis

21.1. Competition Dashboard
21.2. Solution Capability Matrix
21.3. Competition Deep Dive (HCM Solution Vendors)
- 21.3.1. Oracle Corporation
  - 21.3.1.1. Business Overview
  - 21.3.1.2. Product Portfolio
  - 21.3.1.3. Profitability by Market Segments (Business Segment/Region)
  - 21.3.1.4. SWOT Analysis
  - 21.3.1.5. Recent Market Developments
  - 21.3.1.6. Strategy Overview
- 21.3.2. Workday, Inc.
  - 21.3.2.1. Business Overview
  - 21.3.2.2. Product Portfolio
  - 21.3.2.3. Profitability by Market Segments (Business Segment/Region)
  - 21.3.2.4. SWOT Analysis
  - 21.3.2.5. Recent Market Developments
  - 21.3.2.6. Strategy Overview
- 21.3.3. SAP SE
  - 21.3.3.1. Business Overview
  - 21.3.3.2. Product Portfolio
  - 21.3.3.3. Profitability by Market Segments (Business Segment/Region)
  - 21.3.3.4. SWOT Analysis
  - 21.3.3.5. Recent Market Developments
  - 21.3.3.6. Strategy Overview
- 21.3.4. Microsoft Corporation
  - 21.3.4.1. Business Overview
  - 21.3.4.2. Product Portfolio
  - 21.3.4.3. Profitability by Market Segments (Business Segment/Region)
  - 21.3.4.4. SWOT Analysis
  - 21.3.4.5. Recent Market Developments
  - 21.3.4.6. Strategy Overview
- 21.3.5. Darwin Box
  - 21.3.5.1. Business Overview
  - 21.3.5.2. Product Portfolio
  - 21.3.5.3. Profitability by Market Segments (Business Segment/Region)
  - 21.3.5.4. SWOT Analysis
  - 21.3.5.5. Recent Market Developments
  - 21.3.5.6. Strategy Overview
- 21.3.6. People Strong
  - 21.3.6.1. Business Overview
  - 21.3.6.2. Product Portfolio
  - 21.3.6.3. Profitability by Market Segments (Business Segment/Region)
  - 21.3.6.4. SWOT Analysis
  - 21.3.6.5. Recent Market Developments
  - 21.3.6.6. Strategy Overview
- 21.3.7. Zing HR
  - 21.3.7.1. Business Overview
  - 21.3.7.2. Product Portfolio
  - 21.3.7.3. Profitability by Market Segments (Business Segment/Region)
  - 21.3.7.4. SWOT Analysis
  - 21.3.7.5. Recent Market Developments
  - 21.3.7.6. Strategy Overview
- 21.3.8. Hono HR
  - 21.3.8.1. Business Overview
  - 21.3.8.2. Product Portfolio
  - 21.3.8.3. Profitability by Market Segments (Business Segment/Region)
  - 21.3.8.4. SWOT Analysis
  - 21.3.8.5. Recent Market Developments
  - 21.3.8.6. Strategy Overview
- 21.3.9. Ramco Systems Limited
  - 21.3.9.1. Business Overview
  - 21.3.9.2. Product Portfolio
  - 21.3.9.3. Profitability by Market Segments (Business Segment/Region)
  - 21.3.9.4. SWOT Analysis
  - 21.3.9.5. Recent Market Developments
  - 21.3.9.6. Strategy Overview
- 21.3.10. BambooHR
  - 21.3.10.1. Business Overview
  - 21.3.10.2. Product Portfolio
  - 21.3.10.3. Profitability by Market Segments (Business Segment/Region)
  - 21.3.10.4. SWOT Analysis
  - 21.3.10.5. Recent Market Developments
  - 21.3.10.6. Strategy Overview
- 21.3.11. MenaTech
  - 21.3.11.1. Business Overview
  - 21.3.11.2. Product Portfolio
  - 21.3.11.3. Profitability by Market Segments (Business Segment/Region)
  - 21.3.11.4. SWOT Analysis
  - 21.3.11.5. Recent Market Developments
  - 21.3.11.6. Strategy Overview
- 21.3.12. EmiratesHR
  - 21.3.12.1. Business Overview
  - 21.3.12.2. Product Portfolio
  - 21.3.12.3. Profitability by Market Segments (Business Segment/Region)
  - 21.3.12.4. SWOT Analysis
  - 21.3.12.5. Recent Market Developments
  - 21.3.12.6. Strategy Overview
- 21.3.13. GulfHR
  - 21.3.13.1. Business Overview
  - 21.3.13.2. Product Portfolio
  - 21.3.13.3. Profitability by Market Segments (Business Segment/Region)
  - 21.3.13.4. SWOT Analysis
  - 21.3.13.5. Recent Market Developments
  - 21.3.13.6. Strategy Overview
- 21.3.14. SumTotal Systems, Inc.
  - 21.3.14.1. Business Overview
  - 21.3.14.2. Product Portfolio
  - 21.3.14.3. Profitability by Market Segments (Business Segment/Region)
  - 21.3.14.4. SWOT Analysis
  - 21.3.14.5. Recent Market Developments
  - 21.3.14.6. Strategy Overview
- 21.3.15. DataOn
  - 21.3.15.1. Business Overview
  - 21.3.15.2. Product Portfolio
  - 21.3.15.3. Profitability by Market Segments (Business Segment/Region)
  - 21.3.15.4. SWOT Analysis
  - 21.3.15.5. Recent Market Developments
  - 21.3.15.6. Strategy Overview
- 21.3.16. Bipo
  - 21.3.16.1. Business Overview
  - 21.3.16.2. Product Portfolio
  - 21.3.16.3. Profitability by Market Segments (Business Segment/Region)
  - 21.3.16.4. SWOT Analysis
  - 21.3.16.5. Recent Market Developments
  - 21.3.16.6. Strategy Overview
- 21.3.17. Qandle
  - 21.3.17.1. Business Overview
  - 21.3.17.2. Product Portfolio
  - 21.3.17.3. Profitability by Market Segments (Business Segment/Region)
  - 21.3.17.4. SWOT Analysis
  - 21.3.17.5. Recent Market Developments
  - 21.3.17.6. Strategy Overview
- 21.3.18. Lanteria
  - 21.3.18.1. Business Overview
  - 21.3.18.2. Product Portfolio
  - 21.3.18.3. Profitability by Market Segments (Business Segment/Region)
  - 21.3.18.4. SWOT Analysis
  - 21.3.18.5. Recent Market Developments
  - 21.3.18.6. Strategy Overview
- 21.3.19. Cornerstone OnDemand, Inc.
  - 21.3.19.1. Business Overview
  - 21.3.19.2. Product Portfolio
  - 21.3.19.3. Profitability by Market Segments (Business Segment/Region)
  - 21.3.19.4. SWOT Analysis
  - 21.3.19.5. Recent Market Developments
  - 21.3.19.6. Strategy Overview
- 21.3.20. Smart Recruiters
  - 21.3.20.1. Business Overview
  - 21.3.20.2. Product Portfolio
  - 21.3.20.3. Profitability by Market Segments (Business Segment/Region)
  - 21.3.20.4. SWOT Analysis
  - 21.3.20.5. Recent Market Developments
  - 21.3.20.6. Strategy Overview
- 21.3.21. Bloovo
  - 21.3.21.1. Business Overview
  - 21.3.21.2. Product Portfolio
  - 21.3.21.3. Profitability by Market Segments (Business Segment/Region)
  - 21.3.21.4. SWOT Analysis
  - 21.3.21.5. Recent Market Developments
  - 21.3.21.6. Strategy Overview
- 21.3.22. Cazar
  - 21.3.22.1. Business Overview
  - 21.3.22.2. Product Portfolio
  - 21.3.22.3. Profitability by Market Segments (Business Segment/Region)
  - 21.3.22.4. SWOT Analysis
  - 21.3.22.5. Recent Market Developments
  - 21.3.22.6. Strategy Overview
- 21.3.23. Profit.co
  - 21.3.23.1. Business Overview
  - 21.3.23.2. Product Portfolio
  - 21.3.23.3. Profitability by Market Segments (Business Segment/Region)
  - 21.3.23.4. SWOT Analysis
  - 21.3.23.5. Recent Market Developments
  - 21.3.23.6. Strategy Overview
- 21.3.24. WeekDone
  - 21.3.24.1. Business Overview
  - 21.3.24.2. Product Portfolio
  - 21.3.24.3. Profitability by Market Segments (Business Segment/Region)
  - 21.3.24.4. SWOT Analysis
  - 21.3.24.5. Recent Market Developments
  - 21.3.24.6. Strategy Overview
- 21.3.25. Vantage Circle
  - 21.3.25.1. Business Overview
  - 21.3.25.2. Product Portfolio
  - 21.3.25.3. Profitability by Market Segments (Business Segment/Region)
  - 21.3.25.4. SWOT Analysis
  - 21.3.25.5. Recent Market Developments
  - 21.3.25.6. Strategy Overview