Market Analysis
published on Apr 12, 2018
Report Overview:
NelsonHall's market analysis of the cloud HCM technology market consists of 84 pages.
Who is this Report for:
NelsonHall’s Next Generation HCM Technology report is a comprehensive market assessment report designed for:
- Sourcing managers investigating sourcing developments within the cloud HCM market
- HR and payroll decision makers exploring the benefits and inhibitors of cloud HCM platforms as evidenced from the clients and vendor capability
- Vendor marketing, sales and business managers developing strategies to target opportunities within the cloud HCM market
- Financial analysts and investors specializing in the technology sector, including HR technology and platforms.
Scope of this Report:
This report analyzes the global market for cloud HCM technology. The report addresses the following questions:
- What is the current and future market for cloud HCM platforms?
- What are the most prevalent buyer requirements and how are they changing?
- What are HR modules clients buying from cloud HCM vendors?
- What capabilities are being utilized in cloud HCM and what are the latest developments and trends emerging?
- What is the size and growth of the cloud HCM market by geography?
- What is the depth of the cloud HCM market by industry and which is seeing increased demand? What is the size by small, mid and large market?
- How are leading vendors positioned within the cloud HCM market?
- What are the vendor selection criteria, challenges and critical success factors for vendors targeting cloud HCM solutions?
- Additional topics include industry-specific developments, HCM module adoption trends, platform approaches, platform features and functionality, integrations, vendor partnerships, investments in platform innovation, vendor delivery models, etc.
Key Findings & Highlights:
In 2017, the global cloud HCM market was estimated to be worth ~$13.5bn and increasing, as buyers of all sizes seek to leverage cloud technology to transform HR operating models to better support strategic initiatives.
Cloud technology is currently at the heart of digital transformation as businesses of all sizes seek to remain competitive within their industries; thus cloud HCM platforms are in demand as HR leaders seek to leverage technology in line with the business, to transform operating models and support strategic initiatives.
Global adoption for cloud based HCM solutions continues to grow steadily, driven by digital transformation initiatives, a need to support a changing workforce, compete for top talent, and the opportunity to upgrade legacy technology with modern capabilities.
Buyers of all sizes are seeking a single global system of record, which provides end to end HR capability and drives standardization, consistency, and efficiency of the HR delivery model.
“Next Generation” cloud HCM is being delivered on a single platform with enhanced UI/UX, enabled by “intelligent” capabilities and predictive analytics.
Comprehensive talent management enablers, tools, and insights are increasing in demand as HR leaders are under greater pressure to attract, retain, and develop the talent and skills needed to support the strategy of the business.
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Next Generation HCM Technology
published 2018-05-10 | Project by Elizabeth Rennie