Market
Highlights
In this rapidly
changing world of technology, talent management software market is projected to show major
growth prospects during the forecast period. The talent management software
continues to surge further in the corporate industry owing to realizing the
importance of talent optimization and how it is the key to a successful
business. Emergence of video tools is one major factor driving the growth of
talent management software market.
As compared to
other regions, the talent management software market in North America is
expected to witness significant growth during the forecast period. U.S and
Canada are anticipated to drive the growth of talent management software market.
This is owing to the presence of large number of established key players and
increasing user base on social media platforms in that region. In addition to
this, the region also has a well-established infrastructure which allows higher
penetration of mobile devices which ultimately provides high speed connectivity
and is expected to be a major factor for the growth of talent management
software market.
The talent
management software market is growing rapidly over 16% of CAGR and is
expected to reach at approx. USD 16 billion by the end of forecast period.
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Talent Management
Software Market Segmentation
The talent
management software market has been segmented on the basis of
component, deployment, organization size and vertical. The deployment segment
is further bifurcated into cloud and on-premise deployment models. Out of
which, the cloud based deployment is expected to grow at the highest rate while
the on premise deployment dominated the market share of talent management
software market.
The prominent
players in the talent management software market are – Halogen Software
(Canada), Taleo Corporation (U.S.), Cornerstone OnDemand (U.S.), Kenexa (U.S.),
Sumtotal Systems, Inc. (U.S.), iCims, Inc. (U.S.), Skillsoft (U.S.), Talentsoft
(France), Lumesse Ltd. (U.K.), Saba Software (U.S.), among others.
Market Research
Analysis:
The global
talent management software market, by geography, has been segmented into North
America, Europe, Asia Pacific and Rest of the World. In the global talent
management software market, Asia Pacific is anticipated to witness relatively
faster adoption and is expected to grow at the highest CAGR during the forecast
period as compared to other regions. Within Asia Pacific, talent management
software market is projected to contribute faster to the growth of revenue
backed by increasing emergence of social media platforms and increasing demand
for cloud based solutions in countries such as Japan, China and India.
Across Europe,
countries including Germany, France and the U.K. are anticipated to drive the
growth of talent management software market. In Europe, increasing demand for
automated recruitment processes and increasing social media platforms are the
major factors driving the growth of talent management software market. The
presence of advanced infrastructure and with the increasing adoption of
technological advancements in numerous countries are other factors driving the
market growth of talent management software market.
Talent
management software market in the South America region is anticipated to
witness relatively slower market growth. However, Brazil and Argentina among
other countries are projected to witness slow yet steady growth. Talent
management software market in Middle East and Africa occupies a relatively
smaller pie of the global talent management software market.
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