IDC: It is anticipated that the Chinese HCM SaaS market will exceed 1.55 billion US dollars in 2029.

According to the Financial and Economic App of China, IDC believes that with the deepening of enterprise digital transformation and breakthroughs in artificial intelligence technology, the Chinese HCM SaaS (Human Capital Management Software as a Service) market will achieve steady growth and structural transformation by 2024. IDC's latest report shows that the market size will reach 720 million US dollars in 2024, a year-on-year increase of 12.4%, and is expected to exceed 1.55 billion US dollars by 2029, with a compound annual growth rate of over 16.4%. In this process, AI technology will become the core driving force of industry upgrading, and leading vendors will continue to strengthen market competitiveness with the "AI-solidifying" strategy.