Talent Intelligence Software Market USD 18.66 billion by 2032Segments Analysis by Top Key Players :SeekOut, Censia, Fuel50, Eightfold.ai, Ascendify, Humantelligence, ENGAGE, Ideal, TurboHire, Emsi, RippleMatch, 365Talents

The talent management software market size was pegged at USD 8.93 billion in 2021. The market is expected to expand from USD 8.93 billion in 2022 to USD 18.66 billion by 2032 at a 13.1% CAGR during the forecast period. Fortune Business Insights™ has elucidated these insights in its latest research report, titled, "Talent Management Software Market, 2022-2032."

According to the analysis, the rising footfall of advanced technologies has provided promising growth opportunities globally. Besides, the automation trend has added fillip to the industry growth with major companies leading from the front. To illustrate, in May 2020, Oracle Corporation rolled out a cloud-based HCM platform Oracle Analytics to enhance HR teams' decision-making capabilities and boost company performance.

Industry Development

February 2021 - Learning Technologies Group plc announced its plan to acquire the U.K.-based Bridge from Instructure Inc. to boost talent and learning portfolio.

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The report provides a comprehensive analysis of company profiles listed below:

SeekOut, Censia, Fuel50, Eightfold.ai, Ascendify, Humantelligence, ENGAGE, Ideal, TurboHire, Emsi, RippleMatch, 365Talents

Talent Intelligence Software Market Types:

Cloud-based, On-premise.

Talent Intelligence Software Market Applications:

Large Enterprises, SMEs

Regional Insights

North America to Spearhead Industry Growth with Increasing Presence of Leading Companies

The footprint of talent management software solutions and services could be pronounced across the U.S., Canada and Mexico. The presence of major companies, such as IBM Corporation, Oracle Corporation and Ceridian HCM Holding Inc., will bode well for the regional outlook. North America market size was valued at USD 2.89 billion in 2021 and will grow with notable investments in cloud applications.

Asia Pacific talent management software market share will observe an upward growth trajectory on the back of the rising footfall of BFSI and SMEs. End-users are likely to invest in cloud-based platforms to gain traction across emerging economies, such as China and India. Industry players expect SMEs to exhibit traction for advanced software and solutions to expand their footfall.

Stakeholders anticipate Europe market forecast to be strong in the wake of adoption of robust policies to bolster adaptability, skill and network workforce. The demand for advanced talent management software will be pronounced across the U.K., Germany, France and Italy in the ensuing period. For instance, the healthcare and manufacturing sectors could be the major recipient of the solutions.

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Key Industry Findings & Insights from the report:

The global Talent Management Software Market was valued USD 6.9 Billion in 2021 and is all set to surpass USD 13.4 Billion by 2028, exhibiting a CAGR of 11.8% during the forecast period 2022-2028.
In terms of revenue, the application segment held the largest revenue share of in 2021 and is estimated to maintain its dominance for the forecast period.
In terms of revenue, the product segment held the second largest market share of in 2021 and is estimated to grow rapidly during the forecast period.
The growth can be attributed to rapid urbanization, technological advancement, an increase in investment by developing countries.
Asia Pacific captured the lion share in 2021 and is projected to retain its position over the forecast period. This can be attributed to the existence of a significant number of Talent Management Software industry companies and the high adoption rate owing to government measures that stimulate this industry in this region. The growth is primarily due to the increasing collaborations.

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Streamlining Hiring Process through Technological Adoption

The market is expanding due to several significant factors, including the growing adoption of mobile personnel management systems and cloud-based platforms. Software-as-a-service (SaaS) platforms are used more frequently by businesses and HR professionals to automate talent pool scouting, identification, and recruitment of new employees, as well as employee retention. Additionally, a TMS may facilitate hiring, support company culture, offer flexible learning opportunities, and pinpoint top performers. Furthermore, the use of Machine Learning (ML) and Artificial Intelligence (AI), among other technological innovations, are assisting in the rise of the economy.

Additionally, major players are launching various personnel management tools that help with staff management and provide employees with reasonable growth possibilities. Talent management software has gained in popularity among businesses due to the rising demand to streamline HR processes.

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