Talent Management Software Market Size, Outlook And Overview By 2024-2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Talent Management Software Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

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.

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Key Market Players:

Major companies operating in the talent management software market report are Cornerstone OnDemand Inc., International Business Machines Corporation, Lumesse Limited, Oracle Corporation, PeopleFluent Holdings Corp., Skillsoft Corporation, Cornerstone OnDemand Inc., SAP SuccessFactors, TalentSoft SA, Halogen Software Inc., SumTotal Systems LLC, Workday Inc., TalentGuard Inc., Kenexa Corporation, Taleo Corporation, Haufe Group GmbH & Co. KG, Ultimate Software Group Inc., PageUp People Limited, Automatic Data Processing Inc., Eightfold AI Inc., Deltek Inc., ClickUp Inc., Cornerstone Growth Acquisition Corp., Deel Technologies Inc., Dun & Bradstreet Corporation), Paycor Inc., Remo First Oy, Cegid Group SA, Rippling Inc., Sage HR

Market Drivers:

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) By Component: Solution, Services
2) By Deployment: On-Premise, Cloud
3) By Organization Size: SMEs, Large Enterprises
4) By Industry Vertical: BFSI, IT & Telecom, Manufacturing, Government, Healthcare, Education, Retail, Other Industry Verticals

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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