Talent Management Software Global Market Report 2024

Description

Talent Management Software Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on talent management software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for talent management software? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The talent management software market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Component: Solution; Services
2) By Deployment: On-Premise; Cloud
3) By Organization Size: SMEs; Large Enterprises
4) By Industry Vertical: BFSI; IT & Telecom; Manufacturing; Government; Healthcare; Education; Retail; Other Industry Verticals
Companies Mentioned: Cornerstone OnDemand Inc.; International Business Machines Corporation; Lumesse Limited; Oracle Corporation; PeopleFluent Holdings Corp.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Talent management software encompasses tools designed to oversee the complete employee journey within an organization, starting from recruitment to succession planning. This software facilitates various talent management functions, including recruitment processes, new employee onboarding, performance assessments, learning and development initiatives, compensation management, and succession planning strategies.

The primary components of talent management software are solutions and services. The solution aspect involves tracking employee development and providing incentives, offering a platform for organizations, HR personnel, and managers to manage all aspects of an employee's lifecycle, from recruitment to departure. These solutions can be deployed either on-premises or in the cloud. The software caters to organizations of varying sizes, from small to medium-sized enterprises (SMEs) to large enterprises, and finds application across industry verticals such as BFSI, IT & telecom, manufacturing, government, healthcare, education, retail, among others.

The talent management software market research report is one of a series of new reports from The Business Research Company that provides talent management software market statistics, including talent management software industry global market size, regional shares, competitors with an talent management software market share, detailed talent management software market segments, market trends and opportunities, and any further data you may need to thrive in the talent management software industry. This talent management software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The talent management software market size has grown rapidly in recent years. It will grow from $13.16 billion in 2023 to $15.24 billion in 2024 at a compound annual growth rate (CAGR) of 15.8%. The growth observed during the historical period can be credited to several factors, including innovation among vendors and increased competition within the market, the adoption of user-friendly interfaces in software, a significant shift towards cloud-based solutions, and a focus on performance and goal management functionalities within talent management software.

The talent management software market size is expected to see rapid growth in the next few years. It will grow to $27.61 billion in 2028 at a compound annual growth rate (CAGR) of 16.0%. Anticipated growth in the forecast period can be linked to several key factors, including the adaptation to hybrid work models, a heightened emphasis on employee well-being, addressing skill gaps and talent shortages, a focus on diversity, equity, and inclusion (DEI) initiatives, and the implementation of continuous performance management practices within talent management strategies. Key trends expected in the forecast period encompass talent mobility and internal career advancement opportunities, an increased focus on employee well-being and engagement, enhanced integration capabilities with HR ecosystems, the inclusion of robust security and compliance features, emphasis on succession planning and leadership development, and integration with HRIS (Human Resource Information Systems) and ERP (Enterprise Resource Planning) systems for seamless operations.

The escalating use of social network sites is a driving force behind the increasing demand for talent management software. Social network sites, including social media platforms, enable users to create profiles, connect with others, and navigate connections within the system. These platforms are valuable for employers in promoting their brand and accessing a large pool of talents. In October 2021, global active social media users reached 4.48 billion, marking a 13.13% annual increase from 3.69 billion in 2020, as reported by Backlinko, a US-based advertising services and SEO training company. The widespread use of social network sites is expected to fuel growth in the talent management software market.

The transition towards remote work is a key driver for the talent management software market. Remote work, or telecommuting, eliminates the need for employees to commute to a central workplace. Talent management software plays a vital role in supporting remote work by streamlining HR processes, fostering employee collaboration, and optimizing workforce productivity. A survey conducted in 2022 by FlexJobs' Career Pulse revealed that 65% of respondents expressed a strong preference for full-time remote work, while 32% desired a hybrid work arrangement. This data indicates that 97% of workers wish to have the option of working remotely in some capacity, highlighting the significant impact of the shift towards remote work on the talent management software market.

Technological advancement is a prominent trend in the talent management software market, with major players focusing on innovation to maintain their market positions. In October 2021, CEIPAL Corp, a US-based software development company, launched an AI-driven talent management platform addressing diversity, equity, and inclusion (DEI). This patent-pending DEI solution utilizes advanced AI technology to provide hiring organizations with comprehensive access to workforce and hiring procedures, helping to close diversity gaps. The AI-driven tool enables HR and talent acquisition professionals to automatically identify demographic gaps and define a precise and achievable path to meet specific DEI targets. This emphasis on technological advancement demonstrates the commitment of major players to evolving trends in the talent management software market.

Prominent companies in the talent management software market are actively launching new talent management platforms to secure a competitive advantage. These platforms are comprehensive systems designed to cater to an organization's human capital needs across the employee lifecycle. In April 2023, GSoft, a Canada-based technology company, introduced Talentscope, a cutting-edge talent management platform. Talentscope is specifically designed to assist organizations in effectively mapping and assessing their employees' skills. The platform's features, including skill mapping, workforce planning, career development, and an internal talent marketplace, aim to streamline workforce planning, promote skills-based career progression, and enhance internal mobility. By focusing on leveraging skills as a central element of the employee experience, Talentscope aims to help organizations adapt to changing needs and succeed in a dynamic market.

In August 2022, Litera, a US-based technology company, made a strategic acquisition by acquiring Micron Systems Inc. The acquisition, for an undisclosed amount, significantly expands Litera's solutions portfolio and reinforces its commitment to addressing talent engagement and retention challenges, particularly prevalent in the legal sector. Micron Systems Inc., a US-based developer of talent management software, is expected to enhance Litera's ability to address critical tasks related to talent management, providing solutions to streamline talent engagement and retention efforts for Litera's clients.

Major companies operating in the talent management software market report are Cornerstone OnDemand Inc., International Business Machines Corporation, Lumesse Limited, Oracle Corporation, PeopleFluent Holdings Corp., Skillsoft Corporation, Cornerstone OnDemand Inc., SAP SuccessFactors, TalentSoft SA, Halogen Software Inc., SumTotal Systems LLC, Workday Inc., TalentGuard Inc., Kenexa Corporation, Taleo Corporation, Haufe Group GmbH & Co. KG, Ultimate Software Group Inc., PageUp People Limited, Automatic Data Processing Inc., Eightfold AI Inc., Deltek Inc., ClickUp Inc., Cornerstone Growth Acquisition Corp., Deel Technologies Inc., Dun & Bradstreet Corporation), Paycor Inc., Remo First Oy, Cegid Group SA, Rippling Inc., Sage HR

North America was the largest region in the talent management software market share in 2023. The regions covered in the talent management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the talent management software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The talent management software market includes revenues earned by entities recruiting and tracking applicant, managing compensation, managing talent relationship, and evaluating performance capabilities. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r13091

1. Executive Summary

2. Talent Management Software Market Characteristics

3. Talent Management Software Market Trends And Strategies

4. Talent Management Software Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Talent Management Software Market Size and Growth

5.1. Global Talent Management Software Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Talent Management Software Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Talent Management Software Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Talent Management Software Market Segmentation

6.1. Global Talent Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Solution
Services
6.2. Global Talent Management Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
On-Premises
Cloud
6.3. Global Talent Management Software Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
SMEs
Large Enterprises
6.4. Global Talent Management Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
BFSI
IT & Telecom
Manufacturing
Government
Healthcare
Education
Retail
Other Industry Verticals

7. Talent Management Software Market Regional And Country Analysis

7.1. Global Talent Management Software Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Talent Management Software Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Talent Management Software Market

8.1. Asia-Pacific Talent Management Software Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Talent Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Talent Management Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Talent Management Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Talent Management Software Market

9.1. China Talent Management Software Market Overview
9.2. China Talent Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Talent Management Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Talent Management Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Talent Management Software Market

10.1. India Talent Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Talent Management Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Talent Management Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Talent Management Software Market

11.1. Japan Talent Management Software Market Overview
11.2. Japan Talent Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Talent Management Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Talent Management Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Talent Management Software Market

12.1. Australia Talent Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Talent Management Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Talent Management Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Talent Management Software Market

13.1. Indonesia Talent Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Talent Management Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Talent Management Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Talent Management Software Market

14.1. South Korea Talent Management Software Market Overview
14.2. South Korea Talent Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Talent Management Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Talent Management Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Talent Management Software Market

15.1. Western Europe Talent Management Software Market Overview
15.2. Western Europe Talent Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Talent Management Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Talent Management Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Talent Management Software Market

16.1. UK Talent Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Talent Management Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Talent Management Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Talent Management Software Market

17.1. Germany Talent Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Talent Management Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Talent Management Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Talent Management Software Market

18.1. France Talent Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Talent Management Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Talent Management Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Talent Management Software Market

19.1. Italy Talent Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Talent Management Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Talent Management Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Talent Management Software Market

20.1. Spain Talent Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Talent Management Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Talent Management Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Talent Management Software Market

21.1. Eastern Europe Talent Management Software Market Overview
21.2. Eastern Europe Talent Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Talent Management Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Talent Management Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Talent Management Software Market

22.1. Russia Talent Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Talent Management Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Talent Management Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Talent Management Software Market

23.1. North America Talent Management Software Market Overview
23.2. North America Talent Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Talent Management Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Talent Management Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Talent Management Software Market

24.1. USA Talent Management Software Market Overview
24.2. USA Talent Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Talent Management Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Talent Management Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Talent Management Software Market

25.1. Canada Talent Management Software Market Overview
25.2. Canada Talent Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Talent Management Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Talent Management Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Talent Management Software Market

26.1. South America Talent Management Software Market Overview
26.2. South America Talent Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Talent Management Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Talent Management Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Talent Management Software Market

27.1. Brazil Talent Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Talent Management Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Talent Management Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Talent Management Software Market

28.1. Middle East Talent Management Software Market Overview
28.2. Middle East Talent Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Talent Management Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Talent Management Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Talent Management Software Market

29.1. Africa Talent Management Software Market Overview
29.2. Africa Talent Management Software Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Talent Management Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Talent Management Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Talent Management Software Market Competitive Landscape And Company Profiles

30.1. Talent Management Software Market Competitive Landscape
30.2. Talent Management Software Market Company Profiles
- 30.2.1. Cornerstone OnDemand Inc.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. International Business Machines Corporation
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Lumesse Limited
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Oracle Corporation
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. PeopleFluent Holdings Corp
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Talent Management Software Market Competitive Benchmarking

32. Global Talent Management Software Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Talent Management Software Market

34. Talent Management Software Market Future Outlook and Potential Analysis

34.1 Talent Management Software Market In 2028 - Countries Offering Most New Opportunities
34.2 Talent Management Software Market In 2028 - Segments Offering Most New Opportunities
34.3 Talent Management Software Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer