Talent Management Software Market Trends, Size, Share and Forecast Analysis 2023-2028
IMARC Group has recently released a new research study titled “Talent Management Software (TMS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the global talent management software market size, drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios. The 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.
What is talent management software (TMS)?
A talent management software (TMS) refers to an integrated software platform that encourages core talent management processes, including employee onboarding, recruitment, learning and professional development, performance management, succession planning, and compensation management.
It helps various organizations to track and manage their employees by setting goals, identifying and closing skill gaps, offering personalized development plans, and facilitating appraisals. These processes, along with the technical skills that support them, are typically delivered through software modules. This helps organizations to promote a culture of career development and enhance the overall performance of the employees.
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What are the growth prospects and trends in the industry?
The increasing application of TMS across several industries, including healthcare, banking, financial services and insurance (BFSI), retail, manufacturing, and information technology (IT) represents one of the key factors driving the talent management software market growth across the globe.
The increasing penetration rate of cloud-based platforms, along with the widespread adoption of mobile-based personnel management systems, is acting as a major growth-inducing factor.
In line with this, organizations and human resource (HR) professionals are increasingly adopting software-as-a-service (SaaS) platforms for automating scouting, identifying and acquiring new talents from the talent pools, and retaining the existing talent, which is facilitating the demand for TMS.
Other factors, such as the significant technological advancements, such as the utilization of machine learning (ML) and artificial intelligence (AI), along with the increasing need to replace the conventional methods of talent management, are creating a positive outlook for the market.
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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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.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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