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Human Capital Management Solutions Market to Grow by USD 13.92 Billion (2024-2028), Demand for Automated Recruitment Fuels Growth, AI Drives Transformation – Technavio

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NEW YORK, Nov. 28, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global human capital management solutions market size is estimated to grow by USD 13.92 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about 9.52%  during the forecast period. Demand for automated recruitment processes is driving market growth, with a trend towards emergence of cloud-computing services. However, threat from open-source software  poses a challenge. Key market players include Asure Software Inc., Automatic Data Processing Inc., Cegid SA, Ceridian HCM Holding Inc., Cognizant Technology Solutions Corp., EmployWise, Inplenion, Koch Industries Inc., Kronos Inc., OnePoint Human Capital Management, Oracle Corp., PeopleStrategy Corp., Ramco Systems Ltd., Safeguard World International LLC, SAP SE, SolutionDot, Talentia Software Group, The Goldman Sachs Group Inc., Workday Inc., and WorkForce Software LLC.

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                                                                                   Human Capital Management Solutions Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 9.52%

Market growth 2024-2028

USD 13924.7 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

8.47

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 33%

Key countries

US, Germany, India, UK, and Japan

Key companies profiled

Asure Software Inc., Automatic Data Processing Inc., Cegid SA, Ceridian HCM Holding Inc., Cognizant Technology Solutions Corp., EmployWise, Inplenion, Koch Industries Inc., Kronos Inc., OnePoint Human Capital Management, Oracle Corp., PeopleStrategy Corp., Ramco Systems Ltd., Safeguard World International LLC, SAP SE, SolutionDot, Talentia Software Group, The Goldman Sachs Group Inc., Workday Inc., and WorkForce Software LLC

Market Driver

Human Capital Management (HCM) solutions have become essential for businesses looking to streamline HR processes and improve organizational productivity. Trends in this market include cloud adoption, automation, and artificial intelligence. Cloud-based HCM software allows for quick deployment and scalability, reducing installation time and non-core spending. APIs enable seamless integrations with other business applications like CRM and finance systems. Employees expect personalized HR services, and HCM solutions offer coaching tools and learning opportunities. Decision-making is enhanced through data analytics, which provides insights into business outcomes and organizational roles. Data security concerns are addressed through encryption and access controls. Emerging vendors offer innovative solutions, while established players provide proven expertise. Hiring processes are streamlined with mobile recruitment and social media integration. Talent management solutions help organizations attract, develop, and retain top talent. SaaS delivery model ensures easy access to HCM solutions, while machine learning and AI automate administrative tasks. Businesses in various sectors, including the E-commerce sector, benefit from HCM solutions. HR departments can work smarter, focusing on strategic sourcing and building relationships, while HR professionals manage HR information and procedures more efficiently. The future of HCM solutions lies in providing personalized services, reducing position posting time, and addressing the needs of a decentralized workforce. 

In today’s business landscape, cloud computing is a significant trend in the IT industry, and Human Capital Management (HCM) solutions are no exception. By utilizing cloud storage for critical HR information, organizations can save costs and allow central administration to manage all resources and HR activities remotely. This setup eliminates the need for users to maintain IT infrastructure and handle updates, as service providers handle these tasks under contract. By adopting cloud-based HCM solutions, businesses can streamline HR processes, ensure data security, and focus on their core competencies. 

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 Market Challenges

Human Capital Management (HCM) solutions have become essential for businesses looking to streamline HR processes, improve employee engagement, and drive organizational productivity. However, implementing an HCM system comes with its challenges. Access to client’s data and ensuring data security are top concerns, especially with the rise of cloud-based HCM solutions. Administrative tasks, such as API integrations and installations, can be time-consuming. Moreover, businesses must consider the scalability and security of cloud-based deployment, especially when dealing with decentralized data and sensitive information. Automation of HR procedures through AI and machine learning can reduce position posting time and manual labor, but it also raises data security concerns. HR managers need personalized HR services to meet employee expectations, and the use of mobile applications and social media integration can enhance recruitment processes. Established vendors offer comprehensive HCM software, including payroll, learning, and talent management, while emerging vendors bring innovation through new product lines and technologies. HR professionals must evaluate the cost-effectiveness of cloud adoption, considering non-core spending on IT and the reduction in time for HR procedures. Ultimately, the goal is to work smarter, improve organizational cultures, and drive business outcomes through effective HCM solutions.The preference for digital technologies in Human Capital Management (HCM) solutions has led to an increase in the popularity of open-source software. Multiple companies provide on-premise and cloud-based open-source software for HCM, such as Sapplica’s HRMS software, Sentrifugo. Features include human resource management, performance appraisal, analytics, background checks, leave management, talent acquisition, expense management, and assets management. Open-source HCM software poses a significant challenge to the global HCM solutions market, offering cost-effective alternatives to proprietary solutions. Some companies also offer separate software for specific HR functions, like recruitment and performance appraisal.

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Segment Overview 

This human capital management solutions market report extensively covers market segmentation by 

Application 1.1 Core HR1.2 Talent1.3 WorkforceComponent 2.1 Solution2.2 ServiceGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Core HR-  Core HR functions such as recruitment, training, payroll, scheduling, benefits administration, internal relations, and safety and compliance are essential for organizations. HR applications under Human Capital Management (HCM) solutions are expected to grow significantly due to the adoption of digital technologies, cost reduction needs, and efficient workforce management. Oracle Corp., SAP SE, and Workday Inc. Provide HR functional software solutions for managing employee data and processing HR functions. Traditional HR Information Systems (HRIS) and Human Resource Management Systems (HRMS) have seen a decline as HCM solutions offer more advanced features. These solutions increase organizational efficiency with effective workforce management and real-time problem-solving abilities. Consequently, the use of HCM solutions for core HR applications is expected to increase during the forecast period.

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Research Analysis

The Human Capital Management (HCM) Solutions market is a dynamic and growing industry, focused on helping businesses optimize their workforce and enhance productivity through HR Management software and updated HR Information Systems (HRIS). These solutions offer various functionalities, including talent management, strategic sourcing, and staff experiences. However, data security concerns remain a significant challenge, necessitating security measures. Deployment options range from on-premises to cloud-based solutions, with emerging vendors challenging established players in the market. Product lines continue to extend, addressing the needs of businesses with manual labor and complex workflows. HRMS software solutions are increasingly popular, streamlining HR processes and providing real-time data access. The market’s future growth is expected to be driven by the increasing demand for efficient HR management and the continuous evolution of technology.

Market Research Overview

Human Capital Management (HCM) solutions refer to the use of technology and software to manage HR functions, including recruitment, hiring, employee engagement, learning and development, payroll, and benefits administration. These solutions enable businesses to automate administrative tasks, streamline HR processes, and access real-time data for informed decision making. Cloud-based HCM solutions offer scalability, flexibility, and quick deployment, allowing businesses to adapt to changing workforce needs. Big data and machine learning are increasingly being used in HCM solutions to provide insights into employee performance, organizational productivity, and talent management. APIs and integrations with other business applications, such as CRM and finance systems, enable seamless data flow and improved business outcomes. Data security is a major concern for HCM solutions, as they often handle confidential employee data. Cloud-based deployment raises concerns around data storage, access, and unauthorized access. HCM solutions must provide security features, including encryption, multi-factor authentication, and access controls, to mitigate these risks. Employees expect personalized HR services and experiences, which can be delivered through mobile applications, social media integration, and AI-powered chatbots. HCM solutions must also support remote work cultures and provide tools for coaching, learning, and development to attract and retain top talent. Emerging vendors are disrupting the HCM market with innovative solutions, while established vendors continue to offer comprehensive product lines and strong support for HR departments. HCM solutions are increasingly being adopted in the E commerce sector and other industries, leading to a reduction in time and cost for HR procedures and an improvement in workforce productivity.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationCore HRTalentWorkforceComponentSolutionServiceGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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China-Europe Youth Exchange Campaign: When Fashion Meets Football — A Green Pitch Appointment for Cross-Cultural Dialogue

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BEIJING, July 19, 2026 /PRNewswire/ — On July 18, in Rongjiang County, Guizhou Province, China, the much-anticipated Guizhou Village Super League staged several thrilling grassroots football matches, accompanied by a one-of-a-kind football culture creative showcase.

The showcase, themed Common Love, blended fashion runway elements with local music and dance, presenting 16 distinctive football-themed jersey designs. These featured Italian architectural graffiti, Brazilian color blocks, as well as motifs of the Great Wall, pandas, Chinese auspicious clouds, and ethnic patterns. The outfits were modeled by over 20 young people from diverse walks of life in Guizhou, while the designs themselves were contributed by more than 100 youth participants from over 20 countries and regions during the China-Europe Youth Exchange Campaign: When Fashion Meets Football.

Launched by the China Media Group, European and Latin American Languages Programming Center, the campaign took football as a shared global language. Through youth creative workshops and interactive exchanges, it encouraged young people worldwide to harness AIGC tools to design football jersey patterns, thereby deepening mutual understanding and strengthening friendship.

This initiative drew enthusiastic participation from youth across the globe, who engaged in online dialogues on sports culture and AI-driven creativity. Experts such as Ana Vasques, Executive President, IETI Artificial Intelligence & Creative Design branch; Giulio Cuomo, Professor of Video Production and AI at Accademia Italiana; and Dr. Zhang Youyu, Distinguished Research Fellow at Peking University, shared their insights based on the campaign’s outcomes. They emphasized that football has long transcended the realm of sport, evolving into a cultural symbol that embodies diverse civilizations. Meanwhile, the innovative application of artificial intelligence is opening new pathways for cross-cultural dialogue among global youth.

Video – https://www.youtube.com/watch?v=JhzZPHPk8IA

Photo – https://mma.prnewswire.com/media/3006669/20260719205937_131_59.jpg

View original content:https://www.prnewswire.co.uk/news-releases/china-europe-youth-exchange-campaign-when-fashion-meets-football–a-green-pitch-appointment-for-cross-cultural-dialogue-302829189.html

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Singtel Receives Four Frost & Sullivan 2026 Recognitions for Leadership in Enterprise Connectivity, Cybersecurity, and Digital Transformation

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The recognitions highlight Singtel’s leadership in secure connectivity, network transformation, IoT innovation, and cybersecurity, delivering customer value through intelligent digital infrastructure and AI-enabled enterprise services.

SAN ANTONIO, July 20, 2026 /CNW/ — Frost & Sullivan is pleased to honor Singtel with the 2026 Southeast Asia IoT Connectivity Service Provider Company of the Year, 2026 Singapore Network Transformation Customer Value Leadership, 2026 Singapore Cybersecurity Services Company of the Year, and 2026 Singapore SD-WAN and SASE Service Provider Company of the Year recognitions. These acknowledgements reflect Singtel’s outstanding achievements in delivering secure, intelligent, and scalable digital infrastructure that enables enterprises to modernize operations, simplify complexity, and accelerate digital transformation across Singapore and Southeast Asia. They underscore the company’s consistent leadership in strategy execution, customer value creation, and innovation across enterprise connectivity, cybersecurity, software-defined networking, and IoT connectivity services.

Frost & Sullivan evaluates companies through a rigorous benchmarking process across two core dimensions: strategy effectiveness and strategy execution. Singtel excelled in both, demonstrating its ability to anticipate evolving enterprise requirements while consistently translating long-term vision into measurable customer outcomes. Through platforms such as Singtel CUBΣ (CUBE) and its multidomestic IoT connectivity architecture, the company continues to unify networking, cybersecurity, automation, and AI-driven intelligence into integrated solutions that address the growing complexity of hybrid, multicloud, and connected environments. “Singtel has established itself as a benchmark for enterprise digital infrastructure by converging connectivity, cybersecurity, network intelligence, and IoT orchestration into a unified, customer-centric ecosystem. Its disciplined execution, platform-led innovation, and commitment to simplifying complex enterprise environments continue to strengthen operational resilience and deliver sustained value for organizations across the region,” said Kenny Yeo, Director at Frost & Sullivan.

Guided by a long-term strategy focused on digital innovation, intelligent infrastructure, and customer-centric transformation, Singtel has moved well-beyond traditional telecommunications to a trusted technology partner for enterprises navigating increasingly connected and data-driven environments. Its strategic investments in AI-enabled operations, cloud-native platforms, secure connectivity, and ecosystem partnerships enable organizations to modernize critical infrastructure while maintaining the flexibility to support future business growth.

The company’s strategic agility and sustained investment in integrated digital platforms have enabled it to scale innovative services across local, regional, and global enterprise environments. Innovation remains central to Singtel’s approach through solutions including the CUBΣ connected intelligence platform, multidomestic IoT connectivity powered by eSIM orchestration, managed cybersecurity services, AI-driven network automation, and network-as-a-service capabilities. These solutions simplify network and security management, strengthen cyber resilience, improve operational visibility, and provide enterprises with scalable, secure, and high-performing connectivity across cloud, edge, IoT, and hybrid infrastructures.

By streamlining service delivery through intelligent automation, centralized orchestration, proactive monitoring, and flexible managed and co-managed service models, Singtel continues to help organizations reduce operational complexity while improving service reliability and business agility. Its ability to integrate best-of-breed technologies in a unified operational framework, combined with strong regional network ownership and localized expertise, enables customers to confidently scale digital initiatives while maintaining security, governance, and operational excellence.

Frost & Sullivan commends Singtel for setting a high standard in competitive strategy, execution, and customer value across multiple technology domains. By combining intelligent networking, secure digital infrastructure, AI-enabled operations, and cross-border IoT capabilities in an integrated platform strategy, the company is shaping the future of enterprise connectivity while helping organizations build resilient, future-ready digital ecosystems.

Each year, Frost & Sullivan presents its Company of the Year and Customer Value Leadership recognitions to organizations that demonstrate outstanding strategy development and implementation, resulting in measurable improvements in customer satisfaction, competitive positioning, and business performance. These recognitions honor forward-thinking companies that continuously raise industry standards through innovation, operational excellence, and long-term value creation.

Frost & Sullivan Best Practices Recognition
Frost & Sullivan’s Best Practices Recognitions honor companies across regional and global markets that exhibit exceptional achievement and consistent excellence in areas such as leadership, technological innovation, customer experience, and strategic product development. Each recognition is the result of a rigorous analytical process in which Frost & Sullivan industry experts benchmark performance through comprehensive interviews, deep-dive analysis, and extensive secondary research. The goal is to identify true best-in-class organizations that are driving transformative growth and setting new industry standards.
Contact us: Start the discussion.

Contact:
Tarini Singh
E: Tarini.Singh@frost.com

 

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SOURCE Frost & Sullivan

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Foreign entrepreneurs find business opportunities and a home in Yiwu

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BEIJING, July 19, 2026 /PRNewswire/ — A report from People’s Daily:

Yiwu, a city in east China’s Zhejiang province, is neither a coastal hub nor a border town. Yet it has built a trade network that reaches across the globe. Today, the city is home to more than 10,000 foreign-invested businesses and around 38,000 foreign merchants who live and work there.

People’s Daily reporters recently visited Yiwu to meet foreign entrepreneurs who have built successful businesses and settled down in the city. They shared stories of growing alongside Yiwu and becoming part of its remarkable transformation.

“I wouldn’t be where I am today without Yiwu,” said Senegalese businessman Sourakhata Tirera, a sentiment he often expresses. He first came to Yiwu in 2003 to source hardware products and was immediately impressed by the Yiwu International Trade Market. He noted, “If you can’t find something here, it’s probably because you haven’t searched carefully enough.”

In 2007, Tirera opened a foreign trade agency in Yiwu. In 2012, leveraging Yiwu’s comprehensive foreign trade pilot reform project, he established a wholly foreign-owned trading company. Today, his company ships 200 to 300 containers every month, dealing in more than 1,000 product categories and providing one-stop sourcing services for clients across Africa.

“Everyone is fascinated by Yiwu because it’s a place full of opportunities. Things that once seemed impossible can become reality here,” Tirera told People’s Daily after he finished receiving a trade delegation from Gabon.

Yemeni businessman Maged Mohammed Ali Al-Huraibi came to Yiwu alone in 2008 to pursue his entrepreneurial dream and founded a cosmetics trading company. In 2024, Yiwu launched a one-stop entrepreneurship service for foreign talent, offering factory leasing, policy consultation, and talent recruitment. Seizing the opportunity, Al-Huraibi invested in a cosmetics factory early that year, successfully transitioning from trader to manufacturer.

“Yiwu made my entrepreneurial dream come true. Now I want to bring cosmetics made in Yiwu to even more countries and regions around the world,” Al-Huraibi said.

Yiwu’s success is not simply about gathering products. More importantly, it comes from the city’s ability to create what the market needs — pioneering new approaches where none exist and forging new paths through continuous exploration.

Nepalese businessman Khadka Raj Kumar first came to Yiwu in 2002. In 2011, Yiwu pioneered a dual-track system for representative offices and foreign-invested business entities, addressing challenges related to residency, employment and business operations for foreign entrepreneurs. The following year, Kumar established his own trading company in Yiwu and later bought a home there.

In 2013, Yiwu established China’s first people’s mediation committee dedicated to foreign-related disputes, inviting foreign businesspeople to serve as mediation processes. Kumar has served in this role since 2017 and has participated in resolving more than 150 foreign-related disputes.

“In Yiwu, we’re not outsiders — we’re part of the local community,” he said.

As Yiwu’s sixth-generation marketplace, the Yiwu Global Digital Trade Center marks the city’s transition from traditional trade to a digital trade ecosystem.

Pakistani businessman Sheikh Jamil, who has operated in Yiwu for 21 years, has witnessed this transformation firsthand. According to him, more and more business is now conducted online. With the help of AI, he can quickly generate product solutions tailored to different market demands. “I can do business with the whole world without leaving my office,” he said.

Yemeni businessman Hasan Mohammed entered Yiwu’s cosmetics business as a distributor a decade ago. In 2018, he registered his own cosmetics brand in Saudi Arabia. With its products registered in Saudi Arabia, manufactured in China and sold worldwide, his business model delivers both high-quality products and a strong competitive edge.

“Yiwu is more like an ecosystem where ideas can quickly become reality. It offers not only opportunities, but also the potential for continuous growth,” said Mohammed.

For Brazilian businesswoman Ana Garcia, Yiwu’s transformation from “Made in Yiwu” to “Created in Yiwu” has been fueled by broad support in branding, digital innovation and global expansion. She founded a business consultancy that helps overseas clients identify market opportunities and sourcing needs, connect with qualified suppliers, and manage every step of the supply chain — from product selection and quality inspection to logistics and customs clearance.

Yiwu belongs not only to China, but also to the world. Together with entrepreneurs from around the globe, the city will continue turning the impossible into the possible, further burnishing its reputation as the “world’s supermarket” and ensuring that products created in Yiwu benefit people in more countries.

View original content:https://www.prnewswire.com/apac/news-releases/foreign-entrepreneurs-find-business-opportunities-and-a-home-in-yiwu-302829158.html

SOURCE People’s Daily

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