According to IMARC Group’s latest report, titled “Talent Management Software Market Size, Share, Trends, Growth, Opportunity and Forecast 2021-2026”, the global talent management software market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 13% during 2021-2026.
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Talent management software (TMS) is designed to manage talent throughout the employment lifecycle. This process includes talent hiring, development throughout the tenure and rewards. Talent management is crucial for an organization’s workforce as it ensures maximum productivity from the hired personnel. There are five pillars of talent management, including recruitment, learning, performance management, compensation and succession planning. TMS focuses on the skillsets and adapts an employee-centric methodology for efficient goal accomplishment.
Market Trends and Drivers:
The global market is primarily driven by the widespread adoption of software-as-a-service (SaaS) by organizations across sectors. In line with this, the corporate sector is widely utilizing for identifying talent from the talent pool and retaining the existing talent within an organizational setup. Moreover, the rising need of performance management and global communication within an organization is further driving the demand for TMS. Other factors, including the rising requirement for improved employee productivity and satisfaction and escalating focus on effective decision-making in the hiring process, are the global talent management software market growth further.
Talent Management Software (TMS) Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the talent management software market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Cornerstone Ondemand Inc.
- International Business Machines Corporation
- Workday Inc.
- Ultimate Software
- Skillsoft Corporation
- Talentguard Inc.
- Oracle Corporation
- SilkRoad Technology
Key Market Segmentation:
The report has segmented the global talent management software market on the basis of region, component, deployment type, end user and vertical.
Breakup by Component:
- Workforce Planning
- Learning Management
- Compensation Management
- Talent Acquisition
- Performance Management
- Professional Services
- Training and Education
- Support and Maintenance
Breakup by Deployment Type:
Breakup by End User:
- Small and Medium Enterprises
- Large Enterprises
Breakup by Vertical:
- IT and Telecom
- Media and Entertainment
Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
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