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Talent Management Software Market

Global Talent Management Software Market Size, Forecast: By Component: Solution, Service; By Deployment Mode: Cloud, On-premises; By Organization Size: Large Organisations, Small and Medium Businesses; By Industry Vertical; Regional Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032

Global Talent Management Software Market Outlook

The global talent management software market size reached approximately USD 8.05 billion in 2023. The market is projected to grow at a CAGR of 4.10% between 2024 and 2032, reaching a value of around USD 11.53 billion by 2032.

 

Key Takeaways

  • Talent management software is increasingly integrated with AI and ML, hence enhancing personalised experiences and streamlining talent acquisition processes.
  • The market is evolving with a focus on analytics integration for real-time insights and a shift towards cloud-based solutions.
  • Rising remote work trends and a commitment to diversity and inclusion are shaping the talent management software market.

 

Talent management software can be utilised by human resource managers to track, monitor, and ensure that every employee has the right skills. By using talent management software, talent managers can detect and eliminate barriers that hamper employee development.

 

The talent management software market growth is influenced by several key trends. The increasing adoption of AI and machine learning is enhancing personalised employee experiences and making talent acquisition more efficient. Concurrently, the market is witnessing a surge in the integration of analytics, providing essential real-time workforce insights for better decision-making. Another significant trend aiding the market growth is the shift towards cloud-based solutions, which offer greater scalability, flexibility, and remote accessibility.

 

Accommodating the rising trend of remote work, the talent management software market share is also growing while emphasising mobile-friendly talent management platforms. Additionally, the market is focusing more on diversity and inclusion features, aiming to establish more equitable and varied workforce management practices.

 

talent-management-software-market

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Key Trends and Developments

AI-driven personalisation for talent acquisition; advanced analytics for decision-making; cloud-based solutions for flexibility; and mobile optimisation for remote workforce management are positively impacting the market growth

 

Jan 29th 2024

The Government of Canada (GC) Digital Talent Platform was launched at the 2024 Digital Government Leaders Summit.

 

Nov 14th 2023

Accenture and Workday Inc. announced their collaborative effort to aid organisations adopt more skill-based talent strategies.

 

Sep 20th 2023

Gemspring Capital Management, LLC announced the acquisition of a majority interest in ClearCompany Holdings, Inc., a human capital management software provider.

 

Sep 19th 2023

Remote released its global HR platform designed to aid organisations in managing globally distributed workforces.

 

AI-Driven Personalisation in Talent Acquisition

Increasing adoption of AI and machine learning for personalised employee experiences and efficient talent acquisition is a major trend in the market.

 

Advanced Analytics for Workforce Decision-Making

The integration of analytics for real-time workforce insights and decision-making is becoming a key trend in the talent management software market.

 

Embracing Cloud Technology for Talent Management

The shift towards cloud-based talent management solutions for scalability, flexibility, and remote accessibility is shaping the market growth.

 

Mobile Optimisation for Remote Workforce Management

There is a growing emphasis on mobile-friendly talent management platforms to accommodate the rising trend of remote work and on-the-go workforce management.

 

The global talent management software market demand is primarily being driven by the quick adoption of web-based applications and digitisation. The market is also expected to expand with the support of new and improved tools due to the rapid adoption of talent management tools and solutions by organisations. As more companies are expanding their workforce to keep up with growing consumer demands, the talent acquisition software market size is likely to witness expansion in the coming years.

 

With the increasing use of smartphones in professional settings, talent management software is being optimised for mobile devices, allowing employees and managers to access and interact with the system anytime, anywhere.

 

Furthermore, recognising that each organisation has unique needs, providers are offering more customisable and modular solutions, enabling companies to tailor the software to their specific requirements.

 

talent-management-software-market-by-segmentation

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Market Segmentation

“Global Talent Management Software Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

 

Market Breakup by Component

  • Solution
    • Workforce Planning
    • Talent Acquisition
    • Performance Management
    • Learning Management
  • Service
    • Support and Maintenance
    • Training and Education
    • Professional Service

 

Talent Management Software Market Bifurcation by Deployment Mode

  • Cloud
  • On-Premises

 

Market Division by Organisation Size

  • Large organisation
  • Small and medium businesses

 

Market Breakup by Industry Vertical

  • Banking, Financial Services, and Insurance
  • IT and Telecommunication
  • Manufacturing
  • Retail
  • Education
  • Government
  • Media and Entertainment
  • Healthcare
  • Others

 

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

 

Cloud-based talent management software is expected to increase in demand owing to its versatility

According to the global talent management software market analysis, cloud-based systems are accessible from anywhere with an internet connection, offering greater flexibility for remote work and accessibility across multiple devices. Small to medium-sized businesses often prefer cloud solutions for their cost-effectiveness and ease of use.

 

However, on-premises solutions offer complete control over the software and data, which large enterprises may lean towards for enhanced control and customisation.

 

Talent management systems are high in demand in the IT and telecommunication sector owing to the highly competitive nature of the field

The IT and telecommunication sector is characterised by a highly dynamic and competitive environment, where the rapid pace of technological advancements necessitates continuous skill development and workforce adaptability. Talent management software plays a crucial role in facilitating this by helping to identify skill gaps, planning training programmes, and managing career development paths efficiently.

 

This sector also experiences a higher rate of employee turnover and a constant need for attracting and retaining top tech talent, making effective talent management systems critical for HR processes.

 

Meanwhile, other industries such as banking, financial services, and insurance (BFSI), manufacturing, retail, and education also utilise these tools significantly. This can be attributed to the software addressing addresses specific domain challenges, helping organisations manage their workforce more effectively, maintain compliance, and achieve operational efficiency.

 

talent-management-software-market-by-region

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Competitive Landscape

Some of the major market players are integrating innovative technologies in talent management software to surge their capabilities:

 

Oracle Corporation

Oracle Corporation, a global computer technology giant, specialises in database software and technology, cloud-engineered systems, and enterprise software products. Renowned for its fully integrated cloud applications and platform services, Oracle is a pivotal player in the IT industry.

 

IBM Corporation

IBM Corporation, an American multinational technology company, is known for its significant contributions to hardware, software, and computing services. Pioneering AI, cloud computing, and quantum computing, IBM remains a key innovator and leader in the technology sector.

 

SAP SE

SAP SE, a European multinational software corporation, excels in creating enterprise software to manage business operations and customer relations. As a leader in ERP software, SAP is instrumental in streamlining processes across various industries globally.

 

Saba Software

Saba Software, specialising in talent management solutions, offers a comprehensive suite of learning, performance, and recruiting management systems. Its cloud-based platform is designed to empower organisations in developing, managing, and engaging their workforce effectively.

 

Other key players in the global talent management software market are Workday Inc., TalentQuest, LLC, Cegid Group, ADP, Inc., Ceridian HCM, Inc., Zoho Corporation Pvt. Ltd., and UKG Inc., among others.

 

Companies are increasingly integrating artificial intelligence, machine learning, and data analytics, propelling the talent management software market growth. AI and ML are being extensively used to enhance the functionality of talent management systems. This includes automating routine tasks, providing advanced analytics for better decision-making, and offering personalised recommendations for employee development and career planning.

 

Moreover, companies are leveraging big data and analytics to gain deeper insights into workforce trends and employee behaviour.

 

As per the talent management software market analysis, North America is anticipated to hold a substantial share in the market over the coming years owing to a growing adoption of advanced technologies. Another contributing factor in the market expansion is the strong presence of the market players like IBM Corporation, and Oracle, among others, in the region.

 

Meanwhile, the Asia Pacific region is likely to boost the market growth of talent management software during the forecast period. This is on account of the drastic shift in organisational management technologies in the region. The active ecosystem, coupled with the increasing number of MNCs in IT and telecom and BFSI, among other sectors, are expected to fuel the talent management software (TMS) market growth across the Asia Pacific region.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Component
  • Deployment Mode
  • Organization Size
  • Industry Vertical
  • Region
Breakup by Component
  • Solution
    • Workforce Planning
    • Talent Acquisition
    • Performance Management
    • Learning Management
  • Service
    • Support and Maintenance
    • Training and Education
    • Professional Service
Breakup by Deployment Mode
  • Cloud
  • On-premises
Breakup by Organization Size
  • Large Organisations
  • Small and Medium Businesses
Breakup by Industry Vertical
  • Banking, Financial Services, and Insurance
  • IT and Telecommunication
  • Manufacturing
  • Retail
  • Education
  • Government
  • Media and Entertainment
  • Healthcare
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Oracle Corporation
  • IBM Corporation
  • SAP SE
  • Saba Software
  • Workday inc.
  • TalentQuest, LLC
  • Cegid Group
  • ADP, Inc
  • Ceridian HCM, Inc.
  • Zoho Corporation Pvt. Ltd.
  • UKG Inc
  • Others

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1    Preface 
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions   
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments  
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Region
7    Opportunities and Challenges in the Market
8    Global Talent Management Software Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Talent Management Software Historical Market (2018-2023) 
    8.3    Global Talent Management Software Market Forecast (2024-2032)
    8.4    Global Talent Management Software Market by Component
        8.4.1    Solution
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
            8.4.1.3    Breakup by Solution Type
                8.4.1.3.1    Workforce Planning
                8.4.1.3.2    Talent Acquisition
                8.4.1.3.3    Performance Management
                8.4.1.3.4    Learning Management
        8.4.2    Service
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
            8.4.2.3    Breakup by Service Type
                8.4.2.3.1    Support and Maintenance
                8.4.2.3.2    Training and Education
                8.4.2.3.3    Professional Service
    8.5    Global Talent Management Software Market by Deployment Mode
        8.5.1    Cloud
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    On-premises
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    Global Talent Management Software Market by Organization Size
        8.6.1    Large Organisations
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Small and Medium Businesses
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
    8.7    Global Talent Management Software Market by Industry Vertical
        8.7.1    Banking, Financial Services, and Insurance
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    IT and Telecommunication
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Manufacturing
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Retail
            8.7.4.1    Historical Trend (2018-2023)
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Education
            8.7.5.1    Historical Trend (2018-2023)
            8.7.5.2    Forecast Trend (2024-2032)
        8.7.6    Government
            8.7.6.1    Historical Trend (2018-2023)
            8.7.6.2    Forecast Trend (2024-2032)
        8.7.7    Media and Entertainment
            8.7.7.1    Historical Trend (2018-2023)
            8.7.7.2    Forecast Trend (2024-2032)
        8.7.8    Healthcare
            8.7.8.1    Historical Trend (2018-2023)
            8.7.8.2    Forecast Trend (2024-2032)
        8.7.9    Others
    8.8    Global Talent Management Software Market by Region       
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2023) 
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2023) 
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2023) 
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2023) 
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2023) 
            8.8.5.2    Forecast Trend (2024-2032)
9    North America Talent Management Software Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Talent Management Software Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Talent Management Software Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    15.2    Japan
        15.2.1    Historical Trend (2018-2023) 
        15.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Talent Management Software Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Talent Management Software Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5     Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Oracle Corporation
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    IBM Corporation
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    SAP SE
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Saba Software
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Workday inc.
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    TalentQuest, LLC
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Cegid Group
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    ADP, Inc
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    Ceridian HCM, Inc.
            15.2.9.1    Company Overview
            15.2.9.2    Product Portfolio
            15.2.9.3    Demographic Reach and Achievements
            15.2.9.4    Certifications
        15.2.10    Zoho Corporation Pvt. Ltd.
            15.2.10.1    Company Overview
            15.2.10.2    Product Portfolio
            15.2.10.3    Demographic Reach and Achievements
            15.2.10.4    Certifications
        15.2.11    UKG Inc
            15.2.11.1    Company Overview
            15.2.11.2    Product Portfolio
            15.2.11.3    Demographic Reach and Achievements
            15.2.11.4    Certifications
        15.2.12    Others
16    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Talent Management Software Market: Key Industry Highlights, 2018 and 2032
2.    Global Talent Management Software Historical Market: Breakup by Component (USD Million), 2018-2023
3.    Global Talent Management Software Market Forecast: Breakup by Component (USD Million), 2024-2032
4.    Global Talent Management Software Historical Market: Breakup by Deployment Mode (USD Million), 2018-2023
5.    Global Talent Management Software Market Forecast: Breakup by Deployment Mode (USD Million), 2024-2032
6.    Global Talent Management Software Historical Market: Breakup by Organization Size (USD Million), 2018-2023
7.    Global Talent Management Software Market Forecast: Breakup by Organization Size (USD Million), 2024-2032
8.    Global Talent Management Software Historical Market: Breakup by Industry Vertical (USD Million), 2018-2023
9.    Global Talent Management Software Market Forecast: Breakup by Industry Vertical (USD Million), 2024-2032
10.    Global Talent Management Software Historical Market: Breakup by Region (USD Million), 2018-2023
11.    Global Talent Management Software Market Forecast: Breakup by Region (USD Million), 2024-2032
12.    North America Talent Management Software Historical Market: Breakup by Country (USD Million), 2018-2023
13.    North America Talent Management Software Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Europe Talent Management Software Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Europe Talent Management Software Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Asia Pacific Talent Management Software Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Asia Pacific Talent Management Software Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Latin America Talent Management Software Historical Market: Breakup by Country (USD Million), 2018-2023
19.    Latin America Talent Management Software Market Forecast: Breakup by Country (USD Million), 2024-2032
20.    Middle East and Africa Talent Management Software Historical Market: Breakup by Country (USD Million), 2018-2023
21.    Middle East and Africa Talent Management Software Market Forecast: Breakup by Country (USD Million), 2024-2032
22.    Global Talent Management Software Market Structure.

Key Questions Answered in the Report

In 2023, the global market attained a value of approximately USD 8.05 billion.

The market is assessed to grow at a CAGR of 4.10% between 2024 and 2032.

The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach almost USD 11.53 billion by 2032.

The major factors driving market growth are surging digitalisation and increasing demand from a diverse set of industries.

The key market trends include a rise in the demand for acquiring and retaining skilled manpower and an increasing penetration rate of cloud-based platforms.

The major regions in the market are Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.

The various components of talent management software in the market includes solution and service.

The major deployment modes of talent management software in the market includes cloud and on-premises.

The various organisation sizes of talent management software in the market include large organisation and small and medium businesses.

The various industry verticals of talent management software are banking, financial services, and insurance, it and telecommunication, manufacturing, retail, education, government, media and entertainment, and healthcare, among others.

The major players in the market are Oracle Corporation, IBM Corporation, SAP SE, Saba Software., Workday Inc., TalentQuest, LLC, Cegid Group, ADP, Inc, Ceridian HCM, Inc., Zoho Corporation Pvt. Ltd., and UKG Inc, among others.

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