Key Factor Supporting Global Talent Management Software Market Development in 2025: Surge In Social Network Site Usage Boosts Demand For Talent Management Software Market

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How Large Will the Talent Management Software Market Size By 2025?
The market size of talent management software has experienced swift expansion in the past few years. The market is projected to rise from $13.05 billion in 2024 to $14.48 billion in 2025, with a compound annual growth rate (CAGR) of 11.0%. Factors such as vendor innovation and market competition, user-friendly software designs, the transition to cloud-based solutions, and effective performance and goal management have contributed to the growth observed in the preceding years.

How Big Is the Talent Management Software Market Size Expected to Grow by 2029?
The market size for talent management software is projected to experience significant expansion in the years to come. It is predicted to reach $24.38 billion by 2029, exhibiting a compound annual growth rate of 13.9%. This surge in the projected timeframe can be attributed to the transition to mixed work models, increased focus on employee welfare, addressing skill gaps and talent shortages, diversity, equity, and inclusion (DEI) initiatives, and continuous performance management efforts. Prominent trends during this forecast period encompass talent and internal mobility, employee well-being and engagement, incorporation with HR ecosystem, security and compliance aspects, succession planning and leadership cultivation, and integration with HRIS and ERP systems.

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Which Key Market Drivers Powering Talent Management Software Market Expansion and Growth?
The escalating engagement in social networking platforms is propelling the need for talent management software in the market. Social networking services offer online tools for users to generate a public or semi-public profile within a bounded framework, form a list of connections, and explore their connections as well as those created by others in the system. Notably, social media platforms serve as ideal spaces for employer branding, offering exposure to a vast pool of talent. To exemplify, a study by the University of Maine, an American public research institution, reported that there are around 4.8 billion global social media users, with an additional 150 million new users having joined between April 2022 and April 2023-an average of 410,000 new users every day, or 4.7 every second. As such, the rising usage of social media networks is expected to fuel the expansion of the talent management software market.

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Which Fast-Growing Trends Are Poised to Disrupt the Talent Management Software Market?
The increase in technological progress is a significant trend that is gaining momentum in the talent management software market. Leading entities in the talent management software industry are prioritizing technological enhancements to maintain their market position. For example, in May 2024, as per ADP, a service company based in India, a novel integrated Talent Management Suite was introduced with the aim to assist enterprises in attracting, cultivating, and retaining exceptional talent through an all-inclusive, start-to-finish solution. This suite incorporates modules pertaining to talent acquisition, performance management, compensation management, succession management, and learning management. The main objective is to enable the unbroken integration of diverse talent management procedures, tackling the convolutedness that businesses encounter while effectively managing their workforce. By employing sophisticated learning tools and insights from Bersin & Associates, ADP is striving to augment the comprehensive human capital management strategy for its customers. This allows them to optimize operations and enhance employee engagement and performance.

What Are the Emerging Segments in the Talent Management Software Market?
The talent management softwaremarket 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 And Telecom, Manufacturing, Government, Healthcare, Education, Retail, Other Industry Verticals

Subsegments:
1) By Solution: Recruitment Management, Performance Management, Learning And Development, Compensation Management, Succession Planning, Workforce Planning
2) By Services: Consulting Services, Implementation Services, Training Services, Support And Maintenance Services

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Who Are the Global Leaders in the Talent Management Software Market?
Major companies operating in the talent management software market are Cornerstone OnDemand Inc., International Business Machines Corporation, Oracle Corporation, PeopleFluent Holdings Corp., Skillsoft Corporation, SAP SuccessFactors, TalentSoft SA, SumTotal Systems LLC, Workday Inc., TalentGuard Inc., 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

Which are the Top Profitable Regional Markets for the Talent Management Software Industry?
North America was the largest region in the talent management software market share in 2024. The regions covered in the talent management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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