Talent Management Software Market Size, Growth Analysis and Future Trends 2023-2028

The latest report published by IMARC Group, titled "Talent Management Software (TMS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on the market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global talent management software market size reached US$ 12.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 29.7 Billion by 2028, exhibiting a growth rate (CAGR) of 16.4% during 2023-2028.

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Talent Management Software Market Trends:

The rising integration of technologies, such as artificial intelligence (AI), machine learning (ML), and analytics in talent management software enhances its capabilities, which represents one of the key factors driving the growth of the talent management software market across the globe. As companies expand across borders, managing a diverse workforce becomes complex. Talent management software aids in this process by centralizing and streamlining human resource functions which are boosting the growth of the market across the globe. The increasing trend of remote working is emphasizing the need for digital tools to manage, engage, and develop employees across various locations. Different countries consist of diverse labor laws and regulations which is contributing to the growth of the market.

Talent management software helps organizations adhere to these compliance requirements systematically, which is driving their demand. With the global war for talent intensifying, organizations are leveraging talent management software to attract, retain, and develop the best talent, which is ensuring a competitive edge. Employee engagement is linked to productivity and retention. The software aids in creating personalized employee experiences, motivating, and engaging the workforce. The ability to integrate with other HR and business systems adds to the efficiency and functionality of talent management software, which is contributing to its market growth.

Competitive Landscape With Key Players:

The competitive landscape of the talent management software market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Cornerstone Ondemand Inc.
• International Business Machines Corporation
• Oracle Corporation
• SilkRoad Technology
• Skillsoft Corporation
• Talentguard Inc.
• Talentsoft
• Ultimate Software
• Workday Inc.

Key Market Segmentation:

The report has segmented the global talent management software market based on component, deployment type, end user, vertical and region.

Breakup by Component:

• Solutions
• Workforce Planning
• Learning Management
• Compensation Management
• Talent Acquisition
• Performance Management
• Services
• Professional Services
• Training and Education
• Support and Maintenance

Breakup by Deployment Type:

• On-premises
• Cloud-based

Breakup by End User:

• Small and Medium Enterprises
• Large Enterprises

Breakup by Vertical:

• BFSI
• Healthcare
• IT and Telecom
• Retail
• Manufacturing
• Education
• Government
• Media and Entertainment
• Others

Breakup by Region:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

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Talent management software is a strategic tool utilized by organizations to manage and optimize the various phases of the employee lifecycle. It functions as a comprehensive system designed to attract, develop, motivate, and retain the best talent within an organization. Starting with recruitment, talent management software helps in sourcing and tracking candidates, often integrating with job portals and social media to widen the search. Once hired, the software assists in onboarding and training, providing an organized platform to align new hires with organizational goals. Continuous performance management is another key feature, allowing managers to set goals, conduct assessments, and provide timely feedback. This helps in identifying skill gaps and planning development strategies, thus furthering the professional growth of employees.

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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This release was published on openPR.