Market Highlights
Talent Management Software Market Size Predicted to Grow at CAGR of 16.2% by 2030 with Revenue $19.10 Billion
Talent management software is an integrated suite of tools designed to help organizations manage various aspects of their human resources, particularly in regards to recruiting, hiring, training, developing, and retaining talented employees. These software solutions typically include modules for performance management, learning and development, succession planning, career development, and compensation management.
They are designed to streamline HR processes and improve performance management by consolidating data and automating administrative tasks. Popular talent management software solutions include Paycor, Rippling, Workday, Trakstar, ClearCompany, and many others available on the market. It’s important to evaluate their features, pricing, and scalability to match the organization's HRM strategy.
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Talent Management Software Market Segmentation
The talent management software market has been segmented on the basis of component, deployment, organization size and vertical. The deployment segment is further bifurcated into cloud and on-premise deployment models. Out of which, the cloud based deployment is expected to grow at the highest rate while the on premise deployment dominated the market share of talent management software market.
The prominent players in the talent management software market are – Halogen Software (Canada), Taleo Corporation (U.S.), Cornerstone OnDemand (U.S.), Kenexa (U.S.), Sumtotal Systems, Inc. (U.S.), iCims, Inc. (U.S.), Skillsoft (U.S.), Talentsoft (France), Lumesse Ltd. (U.K.), Saba Software (U.S.), among others.
Market Research Analysis:
The global talent management software market, by geography, has been segmented into North America, Europe, Asia Pacific and Rest of the World. In the global talent management software market, Asia Pacific is anticipated to witness relatively faster adoption and is expected to grow at the highest CAGR during the forecast period as compared to other regions. Within Asia Pacific, talent management software market is projected to contribute faster to the growth of revenue backed by increasing emergence of social media platforms and increasing demand for cloud based solutions in countries such as Japan, China and India.
Across Europe, countries including Germany, France and the U.K. are anticipated to drive the growth of talent management software market. In Europe, increasing demand for automated recruitment processes and increasing social media platforms are the major factors driving the growth of talent management software market. The presence of advanced infrastructure and with the increasing adoption of technological advancements in numerous countries are other factors driving the market growth of talent management software market.
Talent management software market in the South America region is anticipated to witness relatively slower market growth. However, Brazil and Argentina among other countries are projected to witness slow yet steady growth. Talent management software market in Middle East and Africa occupies a relatively smaller pie of the global talent management software market.
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