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The global talent management software market size touched USD 8.14 billion in 2022 and is predicted to reach USD 9.05 billion in 2023. The market is anticipated to touch USD 20.59 billion by 2030, recording a CAGR of 12.5% over 2023-2030.
Fortune Business Insights™ presents this information in its latest report titled “Talent Management Software Market Size, Share & COVID-19 Impact Analysis, By Type (Talent Acquisition, Performance Management, Compensation Management, Learning Management, and Others), By Enterprise Type (Small & Medium Enterprises (SMEs) and Large Enterprises), By Deployment (Cloud and On-premise), By End-User (IT and Telecommunication, BFSI, Government, Healthcare, Education, Manufacturing, and Others), and Regional Forecast, 2023-2030”.
More HR management enterprises are demanding automation technologies to help them scout the right talent and retain high-performing employees. Companies are also seeking technologies that can assist them in tracking their employees’ performance. This has motivated key organizations in the market to come up with innovative software enhancements that can help them expand their global presence. These factors will amplify the global talent management software market growth.
Supply Chain Issues May Restrict Adoption of Talent Management Software
The short-term effect of the COVID-19 outbreak on the global market size was multifaceted since many companies had to slow down their operations and cut back on their labor force. Many firms also refused to hire more people to save costs. This dented the adoption of TMS during the pandemic period. However, as more organizations are switching to digitization to improve their business processes, the demand for innovative Talent Management Software (TMS) solutions is expected to rise considerably. This will positively impact the global market in the coming years.
To get a detailed report summary and research scope of this market, click here:
https://www.fortunebusinessinsights.com/industry-reports/talent-management-software-market-100374
Use of Technological Innovations to Streamline HR Processes to Enhance Market Growth
Cloud-based platforms are being used on a large scale by many companies to improve their employee management practices. TMS can help clients streamline their hiring process, offer flexible learning tools & opportunities, strengthen work culture, and identify top performers. This will not only help them retain top talent but also motivate employees to take full advantage of the innovative trainings to help them grow. These factors will boost the talent management software market share.
Competitive Landscape
Companies to Augment their Market Presence by Offering Advanced TMS Solutions
Talentsoft, IBM Corporation, Cisco Systems, Inc., CornerStone OnDemand, Inc., and Oracle Corporation are a few key market participants. These players are offering solutions that use innovative technologies such as Artificial Intelligence and cloud. Intense competition in the market has compelled these firms to acquire a wide range of businesses to expand their global footprint. These strategies will help the companies expand their presence across the market.
Notable Industry Development:
List of the Companies Profiled in the Report:
Further Report Findings
Table of Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2019-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Unit | Value (USD billion) |
Growth Rate | CAGR of 12.5% from 2023 to 2030 |
Segmentation | By Type, Enterprise Type, Deployment, End-User, and Region |
By Type |
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By Enterprise Type |
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By Deployment |
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By End-user |
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By Region |
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