The human capital management (HCM) market in India is experiencing a significant growth trajectory, with a predicted compound annual growth rate (CAGR) of ~8.65% between 2020-2025. The market’s growth trajectory is supported by the development of the Cloud market and increased adoption of artificial intelligence (AI), analytics, Internet of Things (IoT), and Big Data. The HCM market in India is segmented into eight types of solutions based on product offerings, including core human resources (HR), payroll and compensation management, performance management, learning, talent acquisition, workforce management, benefits administration, and other solutions. The Cloud-based HCM services segment accounted for ~79% of the overall market size in FY 2019, which is expected to increase substantially by the end of 2025.
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