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Talent Management Software Market Report Scope & Overview:

The Talent Management Software Market size was valued at USD 8.22 billion in 2022 and is expected to grow to USD 20.98 billion by 2030 and grow at a CAGR of 12.38 % over the forecast period of 2023-2030.

Talent Management Software (TMS) is a comprehensive solution that encompasses all aspects of labor management, including performance management, strategic hiring, and development. It is a powerful tool that enables organizations to effectively manage their workforce and optimize their talent pool. the key feature of TMS is its ability to combine the four essential pillars of talent management recruitment, learning and development, performance management, and pay management. By integrating these critical functions into a single platform, TMS streamlines the entire talent management process, making it more efficient and effective. Recruitment is a crucial component of talent management, and TMS provides a range of tools to help organizations attract and hire the best candidates. From job postings and applicant tracking to candidate screening and selection, TMS simplifies the recruitment process and ensures that organizations are able to identify and hire the most qualified candidates. TMS provides a range of tools to help organizations develop and train their employees, TMS enables organizations to provide their employees with the skills and knowledge they need to succeed. and TMS provides a range of tools to help organizations measure and improve employee performance. From goal setting and performance reviews to feedback and coaching, TMS enables organizations to identify areas for improvement and develop strategies to enhance employee performance. TMS also provides a range of tools to help organizations manage employee compensation and benefits.

Talent Management Software Market Revenue Analysis

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Talent Management Software (TMS) is a powerful tool that enables organizations to effectively manage their workforce and optimize their talent pool. By combining the four essential pillars of talent management into a single platform, TMS streamlines the.

Market Dynamics

Drivers

  • Increasing Market Potential by Simplifying the hiring procedure Through Technological Innovations

The rising penetration of cloud-based platforms, as well as the use of mobile-based people management systems, is one of the key reasons driving the growth of the talent management software market. Talent management software may also aid in the streamlining of the recruiting process, the reinforcement of workplace culture, the provision of flexible learning opportunities, and the identification of top performers. Various technological advances, such as Machine Learning (ML) and Artificial Intelligence (AI), also contribute to economic growth.

Restrains

SMEs' lack of awareness of talent management software solutions will stymie market growth.

Although data and analytics have long been used to make informed business choices, most organizations still have a long way to go in terms of using talent analytics. A big impediment to market expansion is a lack of knowledge of the benefits of talent management software. To map out talent requirements at all levels of the organization, talent management necessitates the use of costly instruments. Small and medium-sized enterprises (SMEs) find it difficult to invest in new technology due to limited finances. As a result, SMEs will see limited uptake of talent management technology.

Opportunities

  • Increasing popularity of Cloud-based technologies which are opportunities for the market.

  • Increasing AI in Human resource management creates opportunities for the market.

Challenges

  • The high cost of TMS hardware and constantly evolving talent management practices limit the worldwide TMS industry's expansion.

Impact Of covid-19

The COVID-19 pandemic's short-term impact on the worldwide market is varied, depending on the specific end-user impact. The epidemic had a detrimental influence on businesses since it forced them to reduce their personnel, limiting hiring activities. These constraints inhibited the worldwide adoption of talent management software technology.

Furthermore, following the COVID-19 outbreak, organizations are expected to focus on implementing modern technologies to improve company operations and reduce costs, which will likely provide profitable opportunities.

Impact of Russia and Ukraine War

This TMS market is responsible for providing businesses with the tools and resources necessary to manage their workforce effectively. the political instability in the region has led to a decrease in foreign investment, which has affected the growth of the talent management software market. Many businesses are hesitant to invest in software products from a region that is experiencing such turmoil.

The Russia-Ukraine war has had a significant impact on the talent management software market. However, with resilience and adaptability, some companies have managed to overcome these challenges and continue to provide valuable services to businesses worldwide.

The Impact of Recession

The current economic downturn has had a significant impact on various industries, including the talent management software market. As companies face financial challenges, they are forced to re-evaluate their spending priorities, and investments in software solutions may be put on hold. The talent management software market is no exception. With the uncertainty of the economy, companies are hesitant to invest in new software solutions, and many are cutting back on their existing software budgets. This has resulted in a slowdown in the growth of the talent management software market. despite the challenges posed by the recession, there are still opportunities for growth in the talent management software market. As companies look for ways to cut costs and improve efficiency, they may turn to software solutions that can help them better manage their workforce. This presents an opportunity for software vendors to offer cost-effective solutions that can help companies weather the economic storm.

Key Market Segmentation

The Talent Management Software Market is segmented into four types on the basis of by type, by Deployment, by Organization Size, and by Application.

By Type:

  • Performance Management

  • Talent Acquisition

  • Learning Management

  • Compensation Management

  • Others (Workforce Planning)

By Deployment:

  • Cloud

  • On-Premise

By Organization Size:

  • Small and Medium Enterprises (SMEs)

  • Large Enterprises

By Application:

  • IT and Telecommunication

  • BFSI

  • Government

  • Healthcare

  • Education

  • Manufacturing

  • Others (Retail, M&E)

Talent Management Software Market Segmentation Analysis

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Regional Analysis

Currently, North America is dominating the market and is expected to continue doing so throughout the projection period. This region has a highly developed market for adopting talent management, core HR, and recruiting technology, which is further supported by the presence of prominent HCM software suppliers. On the other hand, the Asia Pacific area is expected to experience rapid expansion in the coming years due to its willingness to embrace new and emerging technology. Additionally, a fundamental shift in the region's organizational management structure is fueling demand in developing nations.

North America may be leading the market currently, but the Asia Pacific region is quickly catching up and should not be underestimated. As businesses continue to expand globally, it is crucial to stay up-to-date with the latest technology trends and adapt to the changing market demands. By doing so, companies can position themselves for success in both established and emerging markets.

REGIONAL COVERAGE:

North America

  • USA

  • Canada

  • Mexico

Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

Asia-Pacific

  • Japan

  • South Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of the Middle East & Africa

Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

Key Players:

The major players in the market are Workday, Inc., IBM Corp., Oracle Corp., Peoplefluent, Inc., BambooHR LLC, CornerStone OnDemand Inc., SAP SE, Haufe Group, Lumesse AS, DelTek Inc., Applied Training Systems, Inc., Saba Software Inc., Halogen Software Inc., and others in the final report.

IBM Corp-Company Financial Analysis

Recent development

May 2022: IBM and EY launched a program to assist organizations and enterprises in recognizing workforce difficulties such as employee retention, recruiting, and upskilling, as well as highlighting the need to integrate HR systems technology at a rapid speed.

Workday Inc. paid USD 510 million for VNDLY in January 2022. This purchase enabled VNDLY to provide increased visibility, cooperation, and supervision of workforce opportunities and requirements to its clients.

Talent Management Software Market Report Scope:
Report Attributes Details
Market Size in 2022  US$ 8.22 Bn
Market Size by 2030  US$ 20.98 Bn
CAGR   CAGR of 12.38 % From 2023 to 2030
Base Year  2022
Forecast Period  2023-2030
Historical Data  2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Type (Performance Management, Talent Acquisition, Learning Management Compensation Management, Others)
• By Deployment (Cloud, On-Premise)
• By Organization Size (Small and Medium Enterprises (SMEs), Large Enterprises)
• By Application (IT and Telecommunication, BFSI, Government, Healthcare, Education, Manufacturing, Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Workday, Inc., IBM Corp., Oracle Corp., Peoplefluent, Inc., BambooHR LLC, CornerStone OnDemand Inc., SAP SE, Haufe Group, Lumesse AS, DelTek Inc., Applied Training Systems, Inc., Saba Software Inc., Halogen Software Inc.
Key Drivers • Increasing Market Potential by Simplifying the hiring procedure Through Technological Innovations
Market Opportunities • Increasing popularity of Cloud-based technologies which are opportunities for the market.
• Increasing AI in Human resource management creates opportunities for the market.

 

Frequently Asked Questions

The market is expected to grow to USD 20.91 billion by the forecast period of 2030.

USD 8.22 billion in 2022 is the market share of the Talent Management Software Market.

Growth rate of the Talent Management Software Market is CAGR 12.38 %.

The major players in the market are Workday, Inc., IBM Corp., Oracle Corp., Peoplefluent, Inc., BambooHR LLC, CornerStone OnDemand Inc., SAP SE, Haufe Group, Lumesse AS, DelTek Inc., Applied Training Systems, Inc., Saba Software Inc., Halogen Software Inc., and others in the final report.

The forecast period of the Talent Management Software Market is 2023-2030.

Table of Contents

1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges

4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Russia Ukraine war
4.3 Impact of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Talent Management Software Market Segmentation, By Type
8.1 Performance Management
8.2 Talent Acquisition
8.3 Learning Management
8.4 Compensation Management
8.5 Others

9. Talent Management Software Market Segmentation, By Deployment
9.1 Cloud
9.2 On-Premise

10. Talent Management Software Market Segmentation, By Organization Size
10.1 Large Enterprise
10.2 SME's

11. Talent Management Software Market Segmentation, By Application
11.1 IT and Telecommunication
11.2 BFSI
11.3 Government
11.4 Healthcare
11.5 Education
11.6 Manufacturing
11.7 Others

12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 North America Talent Management Software Market by Country
12.2.2 North America Talent Management Software Market By Type
12.2.3 North America Talent Management Software Market By Deployment
12.2.4 North America Talent Management Software Market By Organization Size
12.2.5 North America Talent Management Software Market By Application
12.2.6 USA
12.2.6.1 USA Talent Management Software Market By Type
12.2.6.2 USA Talent Management Software Market By Deployment
12.2.6.3 USA Talent Management Software Market By Organization Size
12.2.6.4 USA Talent Management Software Market By Application
12.2.7 Canada
12.2.7.1 Canada Talent Management Software Market By Type
12.2.7.2 Canada Talent Management Software Market By Deployment
12.2.7.3 Canada Talent Management Software Market By Organization Size
12.2.7.4 Canada Talent Management Software Market By Application
12.2.8 Mexico
12.2.8.1 Mexico Talent Management Software Market By Type
12.2.8.2 Mexico Talent Management Software Market By Deployment
12.2.8.3 Mexico Talent Management Software Market By Organization Size
12.2.8.4 Mexico Talent Management Software Market By Application
12.3 Europe
12.3.1 Europe Talent Management Software Market by Country
12.3.2 Europe Talent Management Software Market By Type
12.3.3 Europe Talent Management Software Market By Deployment
12.3.4 Europe Talent Management Software Market By Organization Size
12.3.5 Europe Talent Management Software Market By Application
12.3.6 Germany
12.3.6.1 Germany Talent Management Software Market By Type
12.3.6.2 Germany Talent Management Software Market By Deployment
12.3.6.3 Germany Talent Management Software Market By Organization Size
12.3.6.4 Germany Talent Management Software Market By Application
12.3.7 UK
12.3.7.1 UK Talent Management Software Market By Type
12.3.7.2 UK Talent Management Software Market By Deployment
12.3.7.3 UK Talent Management Software Market By Organization Size
12.3.7.4 UK Talent Management Software Market By Application
12.3.8 France
12.3.8.1 France Talent Management Software Market By Type
12.3.8.2 France Talent Management Software Market By Deployment
12.3.8.3 France Talent Management Software Market By Organization Size
12.3.8.4 France Talent Management Software Market By Application
12.3.9 Italy
12.3.9.1 Italy Talent Management Software Market By Type
12.3.9.2 Italy Talent Management Software Market By Deployment
12.3.9.3 Italy Talent Management Software Market By Organization Size
12.3.9.4 Italy Talent Management Software Market By Application
12.3.10 Spain
12.3.10.1 Spain Talent Management Software Market By Type
12.3.10.2 Spain Talent Management Software Market By Deployment
12.3.10.3 Spain Talent Management Software Market By Organization Size
12.3.10.4 Spain Talent Management Software Market By Application
12.3.11 The Netherlands
12.3.11.1 Netherlands Talent Management Software Market By Type
12.3.11.2 Netherlands Talent Management Software Market By Deployment
12.3.11.3 Netherlands Talent Management Software Market By Organization Size
12.3.11.4 Netherlands Talent Management Software Market By Application
12.3.12 Rest of Europe
12.3.12.1 Rest of Europe Talent Management Software Market By Type
12.3.12.2 Rest of Europe Talent Management Software Market By Deployment
12.3.12.3 Rest of Europe Talent Management Software Market By Organization Size
12.3.12.4 Rest of Europe Talent Management Software Market By Application
12.4 Asia-Pacific
12.4.1 Asia Pacific Talent Management Software Market by Country
12.4.2 Asia Pacific Talent Management Software Market By Type
12.4.3 Asia Pacific Talent Management Software Market By Deployment
12.4.4 Asia Pacific Talent Management Software Market By Organization Size
12.4.5 Asia Pacific Talent Management Software Market By Application
12.4.6 Japan
12.4.6.1 Japan Talent Management Software Market By Type
12.4.6.2 Japan Talent Management Software Market By Deployment
12.4.6.3 Japan Talent Management Software Market By Organization Size
12.4.6.4 Japan Talent Management Software Market By Application
12.4.7 South Korea
12.4.7.1 South Korea Talent Management Software Market By Type
12.4.7.2 South Korea Talent Management Software Market By Deployment
12.4.7.3 South Korea Talent Management Software Market By Organization Size
12.4.7.4 South Korea Talent Management Software Market By Application
12.4.8 China
12.4.8.1 China Talent Management Software Market By Type
12.4.8.2 China Talent Management Software Market By Deployment
12.4.8.3 China Talent Management Software Market By Organization Size
12.4.8.4 China Talent Management Software Market By Application
12.4.9 India
12.4.9.1 India Talent Management Software Market By Type
12.4.9.2 India Talent Management Software Market By Deployment
12.4.9.3 India Talent Management Software Market By Organization Size
12.4.9.4 India Talent Management Software Market By Application
12.4.11 Australia
12.4.10.1 Australia Talent Management Software Market By Type
12.4.10.2 Australia Talent Management Software Market By Deployment
12.4.10.3 Australia Talent Management Software Market By Organization Size
12.4.10.4 Australia Talent Management Software Market By Application
12.4.11 Rest of Asia-Pacific
12.4.11.1 APAC Talent Management Software Market By Type
12.4.11.2 APAC Talent Management Software Market By Deployment
12.4.11.3 APAC Talent Management Software Market By Organization Size
12.4.11.4 APAC Talent Management Software Market By Application
12.5 The Middle East & Africa
12.5.1 The Middle East & Africa Talent Management Software Market by Country
12.5.2 The Middle East & Africa Talent Management Software Market By Type
12.5.3 The Middle East & Africa Talent Management Software Market By Deployment
12.5.4 The Middle East & Africa Talent Management Software Market By Organization Size
12.5.5 The Middle East & Africa Talent Management Software Market By Application
12.5.6 Israel
12.5.6.1 Israel Talent Management Software Market By Type
12.5.6.2 Israel Talent Management Software Market By Deployment
12.5.6.3 Israel Talent Management Software Market By Organization Size
12.5.6.4 Israel Talent Management Software Market By Application
12.5.7 UAE
12.5.7.1 UAE Talent Management Software Market By Type
12.5.7.2 UAE Talent Management Software Market By Deployment
12.5.7.3 UAE Talent Management Software Market By Organization Size
12.5.7.4 UAE Talent Management Software Market By Application
12.5.8 South Africa
12.5.8.1 South Africa Talent Management Software Market By Type
12.5.8.2 South Africa Talent Management Software Market By Deployment
12.5.8.3 South Africa Talent Management Software Market By Organization Size
12.5.8.4 South Africa Talent Management Software Market By Application
12.5.9 Rest of Middle East & Africa
12.5.9.1 Rest of Middle East & Asia Talent Management Software Market By Type
12.5.9.2 Rest of Middle East & Asia Talent Management Software Market By Deployment
12.5.9.3 Rest of Middle East & Asia Talent Management Software Market By Organization Size
12.5.9.4 Rest of Middle East & Asia Talent Management Software Market By Application
12.6 Latin America
12.6.1 Latin America Talent Management Software Market by Country
12.6.2 Latin America Talent Management Software Market By Type
12.6.3 Latin America Talent Management Software Market By Deployment
12.6.4 Latin America Talent Management Software Market By Organization Size
12.6.5 Latin America Talent Management Software Market By Application
12.6.6 Brazil
12.6.6.1 Brazil Talent Management Software Market By Type
12.6.6.2 Brazil Africa Talent Management Software Market By Deployment
12.6.6.3 Brazil Talent Management Software Market By Organization Size
12.6.6.4 Brazil Talent Management Software Market By Application
12.6.7 Argentina
12.6.7.1 Argentina Talent Management Software Market By Type
12.6.7.2 Argentina Talent Management Software Market By Deployment
12.6.7.3 Argentina Talent Management Software Market By Organization Size
12.6.7.4 Argentina Talent Management Software Market By Application
12.6.8 Rest of Latin America
12.6.8.1 Rest of Latin America Talent Management Software Market By Type
12.6.8.2 Rest of Latin America Talent Management Software Market By Deployment
12.6.8.3 Rest of Latin America Talent Management Software Market By Organization Size
12.6.8.4Rest of Latin America Talent Management Software Market By Application

13. Company Profile
13.1 Workday, Inc.
13.1.1 Market Overview
13.1.2 Financials
13.1.3 Product/Services/Offerings
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 IBM Corp.
13.2.1 Market Overview
13.2.2 Financials
13.2.3 Product/Services/Offerings
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 Oracle Corp.
13.3.1 Market Overview
13.3.2 Financials
13.3.3 Product/Services/Offerings
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Peoplefluent, Inc.
13.4.1 Market Overview
13.4.2 Financials
13.4.3 Product/Services/Offerings
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 BambooHR LLC.
13.5.1 Market Overview
13.5.2 Financials
13.5.3 Product/Services/Offerings
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 CornerStone OnDemand Inc.
13.6.1 Market Overview
13.6.2 Financials
13.6.3 Product/Services/Offerings
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 SAP SE.
13.7.1 Market Overview
13.7.2 Financials
13.7.3 Product/Services/Offerings
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Haufe Group.
13.8.1 Market Overview
13.8.2 Financials
13.8.3 Product/Services/Offerings
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 DelTek Inc.
13.9.1 Market Overview
13.9.2 Financials
13.9.3 Product/Services/Offerings
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Applied Training Systems, Inc.
13.10.1 Market Overview
13.10.2 Financials
13.10.3 Product/Services/Offerings
13.10.4 SWOT Analysis
13.10.5 The SNS View

14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments

15. USE Cases and Best Practices

16. Conclusion

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Secondary Research

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Primary Research

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Data Bank Validation

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