Market Highlights
Talent Management Software (TMS) is a type of software that enables organizations to manage the entire lifecycle of their employees' talent, from attracting and recruiting candidates to performance management and retention. Talent Management Software typically includes modules for recruitment, onboarding, performance management, learning and development, compensation and benefits, reporting and analytics, and succession planning.
Talent Management Software Market Size Predicted to Grow at CAGR of 16.2% by 2030 with Revenue $19.10 Billion
There are various TMS products available in the market, ranging from simple and affordable systems designed for startups and small businesses to more complex enterprise-level solutions aimed at larger organizations with more complex HR needs. Some popular TMS products include Paycor, Rippling, Workday, SAP SuccessFactors, ADP, PeopleSoft, and UltiPro.
By leveraging Talent Management Software, organizations can streamline and automate their HR processes, enabling them to manage their talent more efficiently and effectively. By having a centralized system for managing employee data, organizations can make better decisions, identify areas for improvement, and optimize their talent management strategies for maximum impact on the organization's bottom line.
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Talent Management Software Market Segmentation
The talent management software market has been segmented on the basis of component, deployment, organization size and vertical. The deployment segment is further bifurcated into cloud and on-premise deployment models. Out of which, the cloud based deployment is expected to grow at the highest rate while the on premise deployment dominated the market share of talent management software market.
The prominent players in the talent management software market are – Halogen Software (Canada), Taleo Corporation (U.S.), Cornerstone OnDemand (U.S.), Kenexa (U.S.), Sumtotal Systems, Inc. (U.S.), iCims, Inc. (U.S.), Skillsoft (U.S.), Talentsoft (France), Lumesse Ltd. (U.K.), Saba Software (U.S.), among others.
Market Research Analysis:
The global talent management software market, by geography, has been segmented into North America, Europe, Asia Pacific and Rest of the World. In the global talent management software market, Asia Pacific is anticipated to witness relatively faster adoption and is expected to grow at the highest CAGR during the forecast period as compared to other regions. Within Asia Pacific, talent management software market is projected to contribute faster to the growth of revenue backed by increasing emergence of social media platforms and increasing demand for cloud based solutions in countries such as Japan, China and India.
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Across Europe, countries including Germany, France and the U.K. are anticipated to drive the growth of talent management software market. In Europe, increasing demand for automated recruitment processes and increasing social media platforms are the major factors driving the growth of talent management software market. The presence of advanced infrastructure and with the increasing adoption of technological advancements in numerous countries are other factors driving the market growth of talent management software market.
Talent management software market in the South America region is anticipated to witness relatively slower market growth. However, Brazil and Argentina among other countries are projected to witness slow yet steady growth. Talent management software market in Middle East and Africa occupies a relatively smaller pie of the global talent management software market.
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