Global HCM Software Market Update (June–July 2025) – Key Trends, News & Forecasts
The global HR/HCM and payroll software market is projected to reach $57.8 billion by 2029 and $91.7 billion by 2034, growing about 10% annually. North America holds 36% of revenue, while Asia-Pacific leads in growth at 12% CAGR. The top 10 vendors account for just 10% of 2023 revenue. A surge in AI product launches in mid-2025 prompted a 45% annual growth forecast for AI-powered HR agents.
