Talent Management Software Market Trends, Opportunities, and Forecast by 2031

MARKET OVERVIEW

Talent Management software offers various solutions for management of workforce. These solutions are mainly for strategic hiring, performance management, and development. The talent management software consists of recruitment, talent management, learning and development; and compensation management. Talent Management software has experienced many technological advancements which has increased its utility. Talent Management software market is expected to grow a significant rate in upcoming years.

MARKET SCOPE

The "Global Talent Management Software Market Analysis to 2031" is a specialized and in-depth study of the technology, media and telecommunication industry with a special focus on the global market trend analysis. The report aims to provide an overview of the talent management software market with detailed market segmentation by solution, services, deployment type, enterprise size, industry vertical and geography. The report provides key statistics on the market status of the leading talent management software market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on solution, the global talent management software market is segmented into workforce planning, learning management, compensation management, talent acquisition and performance management.
  
•   On the basis of services, the market is segmented into professional services and managed services.
  
•   Based on deployment type, the market is bifurcated into cloud and on-premises.
  
•   On the basis of enterprise size, the market is segmented into small and medium enterprises and large enterprises.
  
•   Based on industry vertical, the market is bifurcated into BFSI, education, healthcare, IT and telecom, retail, manufacturing, government and others.
  

MARKET DYNAMICS

Drivers:

•   Reduces cost and time involved in employee hiring.
  
•   Better examining of employee performance.
  
•   Provides effective learning and development programs.
  

Restraints

•   SMEs may find it difficult to invest in such advanced technologies considering a limited budget.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The talent management software market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the talent management software market in these regions.

IMPACT OF COVID-19 ON TALENT MANAGEMENT SOFTWARE MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Some of the adverse effects of this pandemic are job loss and salary cut. Due to reduced workforce, organizations’ are not able to spend on such advanced technologies. When hiring itself has gone down along with retention, use of such software has reduced temporarily. This has hindered the growth of the talent management software market.

MARKET PLAYERS

The report covers key developments in the talent management software market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from talent management software market are anticipated to lucrative growth opportunities in the future with the rising demand for talent management software in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the talent management software market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Cornerstone
  
•   IBM Corporation
  
•   Oracle
  
•   PeopleFluent
  
•   Saba Software
  
•   SAP
  
•   Skillsoft
  
•   SumTotal Systems, LLC
  
•   TALENTGUARD
  
•   TALENTSOFT
  
  

The Insight Partner’s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Talent Management Software Report Scope