The following is the In 2020, the scale of China’s human capital management software as a service market reached US $470 million, with a year-on-year increase of 37.5% From IDC recommended by recordtrend.com. And this article belongs to the classification: IDC, SAAS.
According to the definition of IDC, HCM market is divided into six sub markets: employee performance management, recruitment / talent acquisition, core HR, labor management, learning management and salary management. Judging from the market share of each sub market in 2020 and the growth rate in recent three years, performance management and recruitment / talent acquisition currently account for the highest proportion in China’s HCM SaaS market, and the growth rate is relatively fast. In 2020, affected by the epidemic situation, enterprises accelerate the process of digital transformation. In the field of talent management, the demand for talents of enterprises should also meet the strategic goal of the overall digital transformation. Therefore, performance management is not limited to post evaluation, more attention should be paid to the future growth of talents. Therefore, in the next 2-3 years, employee performance management and recruitment will still be two important modules in China’s HCM SaaS market.
Competition pattern of HCM SaaS market in 2020
In terms of the market share of HCM SaaS in China, the market share of top 5 manufacturers has reached 38%. In terms of competition pattern, they are relatively scattered and have different competition patterns in different fields of HR. For example, Beisen, which started with evaluation and recruitment, launched italentx product line in 2020, focusing more on talent integration solutions, and actively increasing investment in core HR, performance management and HR PAAS platform; At present, kennicosa focuses more on online learning module. With the continuous development of digital transformation economy, kennicosa will strengthen its investment in HR software in the future.
From the market dynamics of leading manufacturers, we can see that China’s HCM SaaS market will be more deeply polished in the fields of core human resources, performance and salary management in the future to meet the needs of large and medium-sized enterprises.
From the development trend of China’s HCM SaaS market in the next five years:
Talent integration solution: with the increasing acceptance of HCM SaaS by large and medium-sized enterprises, enterprises’ demand for talent management will not only stay in a certain module, but also hope to complete the construction of the overall talent management system through a technology manufacturer;
Platform ecological development strategy: with the rapid development of SaaS market, the establishment of PAAS platform can meet the needs of rapid growth of enterprises, especially the complex and customized business needs of large and medium-sized enterprises. The HR field also needs to build PAAS platform to encapsulate industry feature modules to meet the customized needs of enterprises.
Intelligent HR: with the rapid development of big data and artificial intelligence, great changes have taken place in HR applications. The need for AI is from single point intelligent resume screening, to intelligent recruitment, and then to intelligent evaluation. Intelligent HR management is deepening. In the future, intelligent will become one of the main development trends of HCM SaaS market.
Xu Wenting, senior research manager of IDC’s China enterprise application software market, believes: according to IDC’s forecast, China’s HCM SaaS market will continue to grow rapidly at a compound annual growth rate of 33.7% in the future. Among them, the two sub markets of employee performance management and recruitment / talent acquisition will lead the growth of the whole HCM SaaS market with a compound annual growth rate of 44.5% and 36.5%. IDC suggests that technology providers should be committed to the future talent development plan of the enterprise, pay attention to the business scenario of future work (fow), plan the talent management system for the enterprise as a whole, build the talent management ecology for the enterprise based on the idea of platform, and help the strategic development of enterprise digital transformation. Read more: IDC: in 2019, China’s human capital management software as a service market will reach 320 million US dollars, with a year-on-year growth of 46% IDC: in the first half of 2019, China’s software defined computing software market will reach 340 million US dollars IDC: in 2014, China’s public cloud service market will reach 717 million US dollars IDC: 56% of European enterprise IT departments lack cloud service professionals IDC: in 2020 The overall market size of global public cloud services (IAAs / PAAS / SaaS) has reached 3, $12.42 billion, up 24.1% on a year-on-year basis IDC: China’s public cloud service market in the second half of 2018 exceeds $4 billion IDC: the global SaaS market in 2017 is expected to exceed $14 billion IDC: China’s public cloud service market in the first half of 2018 exceeds $3 billion IDC: China’s public cloud manufacturers’ market share in the first half of 2018 Alibaba cloud’s share reaches 43% IDC: China’s public cloud IA in the first half of 2017 Market share of public cloud services: Alibaba cloud’s market share expanded to 47.6% IDC: China’s public cloud services market exceeded US $4 billion in 2017 IDC: in the first half of 2020, the overall market size of China’s public cloud services (IAAs / PAAS / SaaS) reached US $8.4 billion, with a year-on-year growth of 51% IDC: China’s public cloud computing report in 2015, Alibaba cloud’s market share reached 31% IDC: the global PAAS market is expected to reach US $14 billion in 2017, with a compound annual growth rate Reach 30% IDC: spending $29 billion on cloud IT infrastructure in 2015
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