Dublin, Feb. 07, 2024 (GLOBE NEWSWIRE) -- The "Talent Management Software Market - Global Industry Size, Share, Trends Opportunity, and Forecast 2018-2028" report has been added to ResearchAndMarkets.com's offering.
Innovation in artificial intelligence, integration of cloud technologies, and a focused approach towards enhancing candidate and employee experiences are pivotal drivers within the Talent Management Software Market as it claims a commanding position in the global economic landscape. This research publication provides an intensive analysis of the market, underscoring its growth patterns and strategic industry developments from 2018 to 2028.
The significance of Talent Management Software cannot be understated in the modern-day corporate world
With an impressive compound annual growth rate set to continue until 2028, this sector is a beacon of transformative operational strategies within human resources. The infusion of AI and wearable technology into talent management platforms yields profound insights into workforce efficiencies and is reshaping the global approach to employee performance management.
Numerous factors propel the market trajectory
Streamlining HR processes remains a pivotal driving force, with large-scale organizations necessitating sophisticated, centralized platforms to manage diverse workforces across the globe efficiently. Moreover, the increasing importance of data-driven decision-making has fortified the talent management software adoption rate, offering organizations real-time analytics for strategic workforce planning. The trend of focusing on the candidate and employee experience is accelerating the demand for user-friendly, engaging, and personalized software solutions. This customer-centric shift is a response to the evolving expectations of the growing Millennial and Gen Z workforce demographic, which prizes transparency, continuous feedback, and fluid learning experiences. Despite these advancements, the talent management software market faces the challenge of adapting tools to accommodate remote workforces effectively. Also, integrating disparate systems to provide a unified and seamless user experience is an ongoing hurdle that vendors must overcome to deliver true value.
Segmental insights reveal the rise of cloud-based solutions, a segment that dominated in terms of deployment and is anticipated to maintain a sizable market share due to the benefits of scalability, cost-effectiveness, and easy deployment. In the component arena, the solution segment showed dominance, affirming the indispensable nature of talent management software solutions in managing the employee lifecycle.
Geographically, North America has taken the lead within the talent management software market, and this momentum is expected to continue vigorously. This region's dominance is bolstered by the early adoption of advanced technologies and the strong presence of industry-leading vendors.
The report provides an eagle’s eye view on the different segments of the market, categorized by deployment, component, end-user industry, along with insightful regional analysis. It deep-dives into the North American, European, Asia-Pacific, South American, and Middle East & African markets.
- Cloud versus On-Premise Deployment
- Solution versus Services Components
- Diverse End-User Industry Perspectives
- Granular Regional Market Analyses
Key Attributes
| Report Attribute | Details |
| No. of Pages | 190 |
| Forecast Period | 2022-2028 |
| Estimated Market Value (USD) in 2022 | $8.65 Billion |
| Forecasted Market Value (USD) by 2028 | $18.67 Billion |
| Compound Annual Growth Rate | 12.7% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes:
- Oracle Corporation
- SAP SE
- IBM Corporation
- SumTotal Systems, LLC
- Automatic Data Processing, Inc.
- Ceridian HCM, Inc.
- Ultimate Software
- LinkedIn Corporation
- Cornerstone OnDemand, Inc.
- Workday, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/jrzl20
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