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Global Talent Management Software Market was valued at US$ 5.68 Bn in 2017 and is expected to reach US$ 16.82 Bn by 2026, at a CAGR of 14.54% during a forecast period.
Talent management software helps to improve the productivity of HR staff by providing self-service web interfaces. Talent management software allows businesses to manage and access their employee details effectively on a real-time basis.
Global Talent Management Software Market
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding talent management software market dynamics, structure by identifying and analyzing the market segments and project the global market size.
Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in talent management software market.
Major factors driving the talent management software market are development of social media platforms and the growing user base on the social media platforms. Moreover, next-generation performing employees, process automation, and increasing need for better performance management among organizations are adding fuel to the growth of the market. Furthermore, rising penetration of mobile devices is boosting the global demand for mobile-based talent management software. However, the cost of the talent management software hardware and ever-changing talent management practices hinder the growth of global talent management software industry.
Compensation management is projected to the highest growth followed by the career pathing management software segment. Compensation management has witnessed some radical changes in the current years with employee participation and data analysis coming to the forefront, which is driving the demand for these solutions.
The demand for solutions in the BFSI segment is driven by the changing dynamics of employee relations and the rising dependence on digitization for management in the domain. The healthcare segment has been witnessing a growing demand for acquiring and retaining skilled manpower, which is expected to aid in the growth of human capital management tools in the segment.
North America has the largest share in the market owing to a larger technological adoption as well as the availability of technical know-how about the industry. The region is expected to maintain its dominant position over the forecast period. In Europe talent management software market, Germany held the largest market share in 2017.
Scope of the Global Talent Management Software Market
Global Talent Management Software Market by Solution
• Performance Management Analytics
• Career Pathing Management Software
• Succession Planning Software
• Compensation Management
• Assessment Software
Global Talent Management Software Market by Deployment Type
Global Talent Management Software Market by Enterprise Size
• Small & Medium Enterprises
• Large Enterprises
Global Talent Management Software Market by End-user
• Telecom and IT
Global Talent Management Software Market by Geography
• North America
• Middle East & Africa
• South America
Key Players operating in the Global Talent Management Software Market
• Cornerstone OnDemand, Inc.
• Halogen Software, Inc.
• IBM Corporation
• Oracle Corporation
• Saba Software, Inc.
• SAP SE
• ELMO Cloud HR & Payroll
• Ultimate Software
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