Talent Management Software Market Highlights:
Talent management software is gaining traction as human resource management software application. Market Research Future (MRFR) reports that the global talent management software market is set to capture an impressive CAGR of 16% during the assessment period. Talent Management Software Market Predicted to Grow at CAGR of 16.2% by 2030 with Revenue $19.10 Billion.
Talent management software is increasingly used as it allows application of a higher degree of automation in monitoring and analysis of several human resource (HR) processes. The growing need for the effective recruitment system is in the parts of driving the adoption of Talent Management Software Market. Further, rising popularity of analytics, mobile apps, and effective HR management technologies are influencing the market growth. Enterprises are increasingly investing in HR software to overcome challenges faced during talent acquisition processes.
Use of video platforms for conducting recruitment programs is a rising trend, which is supporting the market to significant extent. In future, talent management solutions are likely to become more dynamic as recruiters become more conscious about benefits of data analytics for carrying out recruitment procedures. Enterprises are realizing the importance of optimization of talent acquisition systems. Such factors are anticipated to provide tailwinds to the global talent management software market in the forthcoming years.
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The COVID-19 pandemic disruption is estimated to transform the Talent Management Software Market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the Talent Management Software Market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues.
Talent Management Software Market Competition Tracking:
MRFR in its report has profiled some of the leading market players namely Taleo Corporation (U.S.), Kenexa (U.S.), iCims, Inc. (U.S.), Talentsoft (France), Saba Software (U.S.), Halogen Software (Canada), Sumtotal Systems, Inc. (U.S.), Cornerstone OnDemand (U.S.), Lumesse Ltd. (U.K.) and Skillsoft (U.S.)
Talent Management Software Market Segmentation:
The segmental analysis of the market has been conducted based on organization size, vertical,deployment and component.
• On the basis of organization size, the market has been segmented into large enterprises and SMEs.
• On the basis of vertical, the market has been segmented into BFSI, healthcare, manufacturing, retail, media & entertainment, education, and government.
• On the basis of deployment, the market has been segmented into cloud and on-premise. The cloud segment is expected to remain highly attractive during the assessment period.
Businesses all over the world are shifting to cloud infrastructure for optimizing operational efficiency. On the basis of component, the market has been segmented into solutions and services.
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Talent Management Software Market Regional Analysis:
On the basis of region, the market has been segmented into Asia Pacific, Europe, North America and the rest of the world (RoW). During the forecast period, the spotlight is likely to remain on Asia Pacific. It is projected that APAC talent management software market is set to exhibit a robust CAGR between 2019 and 2023. Increased adoption of internet products such as social networking, e-commerce, etc. in countries such as India, and China along with the growing demand for cloud-based solutions is supporting the market growth in APAC.
In Europe, countries such as Netherland, the U.K, France, and Germany are expected to make significant contribution to the Europe market during the forecast period. End-use industries in the region are inclining towards automated recruitment processes which is influencing the market. At the same time, Europe boasts an advanced infrastructure which facilitates a faster uptake of new-age digital solutions such as talent management software. The Europe talent management software market is expected to witness a sound growth over the next several years
Regions such as North America and the Middle East & Africa (MEA) are expected to present attractive opportunities in the coming years. Brazil, which represents the largest economy in South America will remain an important destination for market players. In MEA, the GCC countries are likely to represent a major chunk of share in terms of revenue.
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