Talent Management Software Global Market Report 2023: Increased use of Social Network Sites is Driving Demand

DUBLIN, May 9, 2023 /PRNewswire/ -- The "Talent Management Software Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the market.

The global talent management software market is expected to grow from $11.29 billion in 2022 to $13.06 billion in 2023 at a compound annual growth rate (CAGR) of 15.7%. The talent management software market is expected to reach $23.05 billion in 2027 at a CAGR of 15.2%.

Major players in the talent management software market are Cornerstone OnDemand, Inc., International Business Machines Corporation, Lumesse, Oracle Corporation, Peoplefluent, Skillsoft, Saba Software, SAP Successfactors, TalentSoft SA, Halogen Software, SumTotal Systems, Inc., Workday Inc., Talentguard, Kenexa, Taleo Corporation, Haufe Group, Ultimate Software, PageUp, Automatic Data Processing, Inc., Eightfold, and DelTek Inc.

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Talent management software refers to the software that engaged in the practice of facilitating the whole employee lifecycle, right from initial employee acquisition to succession planning, within the organization. The software is used in talent management procedures such as hiring, on boarding new employees, performance evaluation, learning and development, compensation administration, and succession planning.

The main components of talent management software include solution and services. The talent management software solution are used to track employee development and provide incentives to staff. Solution refers to the platform that offers organizations, HR staff, and managers a variety of ways to manage all phases of an employee's lifecycle, from hiring through offboarding. It is deployed on-premises and cloud. The organization size includes SMEs and large enterprises, where these software are used in industry verticles such as BFSI, IT & telecom, manufacturing, government, healthcare, education, retail and others.

The talent management software market research report is one of a series of new reports 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.

Technological advancement is a key trend gaining popularity in the talent management software market. Major players in the talent management software sector are focused on technological advancement to sustain their marketplace.

In August 2022, Litera, a US-based technology company, acquired Micron Systems Inc. for an undisclosed amount. With the acquisition, Litera broadens its offering of solutions and reaffirms its commitment to addressing talent engagement and retention, one of the most significant problems facing the legal sector. This acquisition will help Litera better meet its clients' most pressing needs, which include finding and retaining top people, and Micron Systems will make a variety of talent management tasks easier for Litera's clients. Micron Systems Inc. is a US-based developer of talent management software.

North America was the largest region in the talent management software market in 2022. The regions covered in the talent management software report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and 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.

The increased use of social network sites is driving the demand for the talent management software market going forward. Social network sites refer to the web-based service that enables users to create a public or semi-public profile inside of a confined system, build a list of other users with whom they have a connection, and read and navigate both their list of connections and those made by other users within of the system. 

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.

Key Topics Covered:

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. COVID-19 Impact On Talent Management Software Market
4.2. Ukraine-Russia War Impact On Talent Management Software Market
4.3. Impact Of High Inflation On Talent Management Software Market

5. Talent Management Software Market Size And Growth
5.1. Global Talent Management Software Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Talent Management Software Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Talent Management Software Market Segmentation
6.1. Global Talent Management Software Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Solution
• Services

6.2. Global Talent Management Software Market, Segmentation By Deployment, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• On-Premise
• Cloud

6.3. Global Talent Management Software Market, Segmentation By Organization Size, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• SMEs
• Large Enterprises

6.4. Global Talent Management Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ 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, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Talent Management Software Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/ik9acr

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