The Talent Management Software Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Talent Management Software Global Market Report 2024, The talent management software market size has grown rapidly in recent years. It will grow from $13.16 billion in 2023 to $15.24 billion in 2024 at a compound annual growth rate (CAGR) of 15.8%. The growth in the historic period can be attributed to vendor innovation and market competition, user-friendly interfaces, shift to cloud-based solutions, performance and goal management..
The talent management software market size is expected to see rapid growth in the next few years. It will grow to $27.61 billion in 2028 at a compound annual growth rate (CAGR) of 16.0%. The growth in the forecast period can be attributed to shift to hybrid work models, focus on employee well-being, skills gap and talent scarcity, diversity, equity, and inclusion (dei), continuous performance management.. Major trends in the forecast period include talent mobility and internal mobility, employee well-being and engagement, integration with hr ecosystem, security and compliance features, succession planning and leadership development, integration with hris and erp systems.
The increased use of social network sites is driving the demand for the talent management software market going forward. Social network sites refer to the web-based service that enables users to create a public or semi-public profile inside of a confined system, build a list of other users with whom they have a connection, and read and navigate both their list of connections and those made by other users within of the system. Social media sites in particular are a great way to promote an employer’s brand and are used by employers to access a large number of telents. For instance, in October 2021, according to the statistics published by Backlinko, a US-based, advertising services and SEO training company, globally, 4.48 billion individuals wereactively accessing social media 2021, up from 3.69 billion in 2020, a 13.13% annual rise. Therefore, the increased use of social network sites will drive the growth of the talent management software market.
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The talent management software market covered in this report is segmented –
1) Talent Management Software Market By Component: Solution, Services
2) Talent Management Software Market By Deployment: On-Premise, Cloud
3) Talent Management Software Market By Organization Size: SMEs, Large Enterprises
4) Talent Management Software Market By Industry Vertical: BFSI, IT & Telecom, Manufacturing, Government, Healthcare, Education, Retail, Other Industry Verticals
Top Major Players
International Business Machines Corporation
Technological advancement is a key trend gaining popularity in the talent management software market. Major players in the talent management software sector are focused on technological advancement to sustain their marketplace. For instance, in October 2021, CEIPAL Corp; a US-based software development company, launched an AI-driven talent management platform, to address diversity, equity, and inclusion. With the use of cutting-edge AI technology, CEIPAL’s ground-breaking, patent-pending DEI solution gives hiring organizations total access to their workforce and hiring procedures and assists in closing any diversity gaps. This AI-driven tool gives HR and talent acquisition professionals the ability to automatically identify important demographic gaps while defining a precise and achievable route to accomplish particular DEI targets.
The talent management software market report table of contents includes:
1. Executive Summary
2. Talent Management Software Market Characteristics
3. Talent Management Software Market Trends And Strategies
4. Talent Management Software Market – Macro Economic Scenario
5. Global Talent Management Software Market Size and Growth
…..
31. Global Talent Management Software Market Competitive Benchmarking
32. Global Talent Management Software Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Talent Management Software Market
34. Talent Management Software Market Future Outlook and Potential Analysis
35. Appendix
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