IDC Expects Worldwide Human Capital Management Applications Market to Experience Continued Strong Growth Through 2016; Acquisitions Reflect Market Importance
FRAMINGHAM, Mass., June 5, 2012 – A new International Data Corporation (IDC) report found that worldwide revenue for the human capital management (HCM) applications market was $7.5 billion in 2011, representing growth of 16.6% over 2010. IDC's revenue forecast for the worldwide HCM market is $11.0 billion in 2016, growing at a compound annual growth rate (CAGR) of 8.1%.
"As buyers continue to make investments in human capital management, vendors are advised that clients are focusing on a number of capabilities," said Lisa Rowan, program director, HR, Talent and Learning Strategies for IDC. "Among these areas of focus are interest in a global view into their workforces and the ability to evenly apply talent management efforts globally, doing more with current resources, and the perceived cost savings associated with cloud delivery."
IDC research shows that interest and investment in human capital management solutions continue to be strong, outpacing most other application markets. The HCM applications market has also been the focus of a number of acquisitions in the past 12 months including SAP's acquisition of SuccessFactors and Oracle's acquisition of Taleo. Both of these actions are granting the acquiring companies more clout in the cloud.
This IDC study, Worldwide Human Capital Management Applications 2012–2016 Forecast: Market Continues Strong (IDC #235156) provides a sizing of the human capital management applications market in 2011 as well as a forecast for 2012–2016. Historical and forecast revenue data is shown for the total worldwide market by geographic region.
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