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The global Human Capital Management (HCM) market is expected to reach $51.3 billion by 2031, with a compound annual growth rate (CAGR) of 9% from 2022 to 2031. HCM solutions enable businesses to make informed decisions swiftly, provide an exceptional employee experience, and leverage advanced technologies like artificial intelligence (AI) and chatbots to automate workflows, enhance efficiency, and ensure prompt engagement. The growth of the global human capital management market is driven by the increased adoption of cloud-based HCM solutions, HR process automation, and the demand for integrated HCM solutions.
