GITNUX MARKETDATA REPORT 2024

Must-Know Hcm Industry Statistics [Recent Analysis]

Statistic 1

"2020 HCM Market was worth $22.17 billion, expected to grow to $32.00 billion by 2025."

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Statistic 2

"About 35% of corporations are expected to use AI in their HR processes by 2022."

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Statistic 3

"The global HCM market is predicted to grow at a Compound Annual Growth Rate (CAGR) of 9.4% from 2020 to 2026."

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Statistic 4

"North America is the largest consumer of HCM application software with over 60% of the total market."

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Statistic 5

"Approximately 54% of companies are restructuring their organization for digital transformation, underpinning the need for effective HCM."

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Statistic 6

"Over 58.3% of businesses are planning to increase their spending on HR tech in 2021."

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Statistic 7

"Employee engagement increases by up to 44% when using HCM systems."

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Statistic 8

"In 2020, the cloud-based HCM industry grew by 90% globally."

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Statistic 9

"Up to 82% of companies reported improved compliance after integrating a HCM system."

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Statistic 10

"An estimated 46% of HR professionals use some form of AI for recruiting."

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Statistic 11

"60% of HR leaders increased investment in HR tech due to the pandemic."

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Statistic 12

"More than 40% of businesses get real-time insights after implementing HR analytics."

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Statistic 13

"70% of companies have started a digital HR initiative with software solutions like HCM taking center stage."

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