The global Talent Management Software Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
Global Talent Management Software Market is anticipated to reach USD 24.03 billion by 2025. Talent Management Software (TMS) is a technology that human resource management experts use to record employee’s lifecycle that includes development, strategic hiring, and performance management. The factors that propel the growth of the Talent Management Software Market include development in automation, extensive research and development activities, rising need for cloud-based talent management software, and surge in the e-learning market.
Key Players:
- CornerStone OnDemand, Inc.
- DelTek
- Halogen Software, Inc.
- Haufe Group
- IBM Corp.
- Lumesse AS
- Oracle Corp.
- Peoplefluent, Inc.
- Saba Software, Inc.
- SAP SE
- SumTotal Systems, LLC
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Growth Drivers:
Talent Management Software industry is anticipated to grow at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe. HR experts need to rethink the way they manage the rising number of laborers shifting to freelance and contract modes of employment. HR-tech will prove to be important in order to assist workers, maintain networks across boundaries, help managers lead their teams, and drive association.
Application Outlook:
- BFSI
- Retail
- IT & Telecom
- Healthcare
- Government
- Education
The “IT and telecom” segment led the talent management software industry in 2015 and is anticipated to maintain its dominance by 2025.The key factor that could be attributed to the growth of market includes surging demand from a diverse set of businesses. The market may be analyzed by organization size as Mid-size organizations, Small organizations and Large organizations.
Solution Outlook:
- Recruiting Management
- Compensation Management
- Employee Lifecycle Management
- Learning and Training Management
- Performance Management
Deployment Outlook:
- On-Premise
- Cloud
The “Cloud-Based Services” segment led the talent management software market in 2016 and is anticipated to maintain its dominance by 2025. The key factor that could be attributed to the growth of market includes increasing acceptance of cloud-based services. Also, features including flexibility, agility of the solutions and on-demand services might contribute greatly to the market growth.
Regional Outlook:
North America accounted for the major share of the Talent Management Software Market Size in 2017 and will continue to lead in the forecast period. The factors that could be attributed to the growth include rapid technological developments in the industry verticals across different economies and presence of a large number of mid-sized and small enterprises. North America is likely to be followed by the Asia-Pacific region.
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