Talent Management Software Market – Challenges, Key Vendors, Drivers, Trends and Forecast to 2023
Market
Highlights:
The global talent management
software market is expected to grow at
approx. USD 16 Billion by 2023, at 16% of CAGR between 2017 and 2023.
Talent management software is an integral part of the HR software
applications. It provides a complete set of tools to automate, monitor, and
analyze human resource (HR) functions efficiently in an organization. Talent
management software market is being fueled by mobile apps, analytics, video and
focus on team centric management. There is a considerable shift in the
investments in the HR software industry.
Major factors driving the talent management software market are
emergence of social media platforms and the increasing user base on the social
media platforms. Video platform for recruiting is another new trend that is
driving the growth of talent management software market.
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 on premise and cloud deployment models. Increasing
demand of cloud-based talent management software module is driving the growth
of cloud deployment model segment. The cloud based deployment segment is
expected to grow at the highest CAGR while the on premise deployment is
expected to hold the largest market share of the talent management software
market.
Major
Key Players:
·
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.)
Regional Analysis:
The regional
analysis of talent management software market is being studied for regions such
as Asia Pacific, North America, Europe and Rest of the World. It has been
observed that North America is estimated to account for the largest share of
the market followed by Europe, whereas Asia-Pacific is projected to grow at the
fastest rate during the forecast period.
The major
growth in talent management software market in North America is attributed to
the technical advancements and increasing emergence of social media platforms
in that region.
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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.
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.
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Intended
Audience:
·
Technology
investors
·
Research/Consultancy
firms
·
Technology
providers
·
Commercial
end-users
·
Industrial
end-users
·
Software
providers
·
Service
providers
·
Government
bodies

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