Talent Management Software Market Size, Share | Market Report 2031

Talent Management Software Market Size, Share | Market Report 2031

Segments - Talent Management Software Market by Solutions (Employee Lifecycle Management, Compensation Management, Recruiting Management, Performance Management, and Learning & Training Management), Deployments (On-premise and Cloud-based), Applications (Healthcare, BFSI, Education, IT & Telecom, Retail, Government, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Author : Raksha Sharma
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Fact-checked by : Vineet Pandey
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Editor : Shruti Bhat

Upcoming | Report ID :ICT-SE-4072 | 4.7 Rating | 76 Reviews | 215 Pages | Format : PDF Excel PPT

Report Description


Talent Management Software Market Outlook 2031

The global talent management software market size was valued at USD 8.14 Billion in 2022 and is likely to reach USD 23.50 Billion by 2031, expanding at a CAGR of 12.5% during the forecast period, 2023–2031. The growth of the market is attributed to the increasing applications for managing activities related to the human capital-centric industry.

Talent management software is an innovative technology that allows the human resource team to easily and effectively manage employees’ records and other activities. It further helps in providing information or easy management of data analysis for HR automation activities such as recruitment and outline performance analysis of employees in an organization.

Talent Management Software Market Outlook

The software enables organizations to provide competency-based assessments for talent hiring process to ensure a competitive advantages to the organization. It is a combined suite of software applications aimed at facilitating easy process for evaluation of the entire employee lifecycle.

This talent management software platform helps to execute talent management processes such as recruitment, employee onboarding, performance management, learning and professional development, and compensation management.

  • Growing needs to guide proper direction for all employees towards a pre-defined objectives of organization along with healthy employee engagement is a key driver of the market.
  • Rising adopting of solutions for extracting or collecting information in search of talent professionals is further projected to boost the market in the coming years.
  • Rapid introduction of various software-as-a-service platforms for identifying, automating scouting, and acquiring new talents from the existing talent pools present another key factor fueling the market.
  • High price of software installation and its maintenance cost act as major hurdles that can hinder the market expansion.
  • Increasing availability of cost-effective cloud-based platforms along with the rising preference for mobile-based personnel management systems are creating lucrative growth opportunities of the market.

Scope of Talent Management Software Market Report

The report on the global talent management software market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Talent Management Software Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Solutions (Employee Lifecycle Management, Compensation Management, Recruiting Management, Performance Management, and Learning and training Management), Deployments (On-premise and Cloud-based), and Applications (Healthcare, BFSI, Education, IT and telecom, Retail, Government, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Oracle Corp.; Halogen Software Inc.; IBM Corp.; Cornerstone OnDemand Inc.; Haufe Group; Lumesse AS; SAP SE; Saba Software Inc.; Peoplefluent, Inc.; and DelTek Inc.

Talent Management Software Market Segment Insights

Easy management drives the employee lifecycle management segment

Based on solutions, the global talent management software market is divided into employee lifecycle management, compensation management, recruiting management, performance management, and learning & training management.

The employee lifecycle management segment is expected to grow at a rapid pace during the forecast period since the software facilitates easy management of overall performance and wider engagement of employees.

However, the compensation management segment is anticipated to hold a key share of the market in the coming years owing to rising needs for effective and easy management for employees’ remuneration and salary within an organization.

On-premise segment is projected to expand at a considerable CAGR

On the basis of deployments, the market is bifurcated into on-premise and cloud-based. The cloud-based segment is projected to expand at a considerable CAGR during the forecast period due to rising popularity of cloud-based services for many additional benefits including on-demand services.

Moreover, the availability of cost-effective cloud-based solutions and services is further fueling the segment. On the other hand, the
on-premise segment is anticipated to account for a major market share during the forecast period owing to increasing need for more secured platforms for talent management activities.

Wide applications in banking drives the BFSI segment

On the basis of applications, the market is divided into BFSI, retail, IT & telecom, healthcare, government, education, and others. The IT & telecom segment is projected to expand at a considerable CAGR during the forecast period owing to wide adoption of the software for various applications associated with the IT industry.

On the other hand, the BFSI segment is anticipated to account for a major market share during the forecast period owing to the rising demand for effective management system for banking, financial, and insurance sectors to ensure a wide engagement with the employees.

Talent Management Software Market Applications

Regional Analysis

In terms of regions, the global talent management software market share is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.

North America is expected to constitute a key share of the market during the projected period owing to early acceptance of advanced management techniques and the presence of key global players in the region.

Moreover, ongoing massive R&D programs to enhance the software performance in analyzing and evaluating the workforce by these key regional players present another key driver of the market.

On the other hand, Asia Pacific is projected to be a fast-growing region of the market during the targeted period owing to the wide expansion of several industries and the establishment of many business enterprises, which require the role of an HR team for effective management of employees.

Segments

The global talent management software market has been segmented on the basis of

Solutions

  • Employee Lifecycle Management
  • Compensation Management
  • Recruiting Management
  • Performance Management
  • Learning & Training Management

Deployments

  • On-premise
  • Cloud-based

Applications

  • Healthcare
  • BFSI
  • Education
  • IT & Telecom
  • Retail
  • Government
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Oracle Corp.
  • Halogen Software Inc.
  • IBM Corp.
  • Cornerstone OnDemand Inc.
  • Haufe Group
  • Lumesse AS
  • SAP SE
  • Saba Software Inc.
  • Peoplefluent, Inc.
  • DelTek Inc.

Competitive Landscape

Key players competing in the global talent management software market share are Oracle Corp.; Halogen Software Inc.; IBM Corp.; Cornerstone OnDemand Inc.; Haufe Group; Lumesse AS; SAP SE; Saba Software Inc.; Peoplefluent, Inc.; and DelTek Inc. Several large companies have offered a varied range of innovative software products to expand their geographical reach and enhance their market positions.

Talent Management Software Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Talent Management Software Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Talent Management Software Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Talent Management Software Market - Supply Chain
  4.5. Global Talent Management Software Market Forecast
     4.5.1. Talent Management Software Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Talent Management Software Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Talent Management Software Market Absolute $ Opportunity
5. Global Talent Management Software Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Talent Management Software Market Size and Volume Forecast by Applications
     5.3.1. Healthcare
     5.3.2. BFSI
     5.3.3. Education
     5.3.4. IT & Telecom
     5.3.5. Retail
     5.3.6. Government
     5.3.7. Others
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Talent Management Software Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Talent Management Software Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Talent Management Software Demand Share Forecast, 2019-2026
7. North America Talent Management Software Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Talent Management Software Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Talent Management Software Market Size and Volume Forecast by Applications
     7.4.1. Healthcare
     7.4.2. BFSI
     7.4.3. Education
     7.4.4. IT & Telecom
     7.4.5. Retail
     7.4.6. Government
     7.4.7. Others
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Talent Management Software Demand Share Forecast, 2019-2026
8. Latin America Talent Management Software Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Talent Management Software Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Talent Management Software Market Size and Volume Forecast by Applications
     8.4.1. Healthcare
     8.4.2. BFSI
     8.4.3. Education
     8.4.4. IT & Telecom
     8.4.5. Retail
     8.4.6. Government
     8.4.7. Others
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Talent Management Software Demand Share Forecast, 2019-2026
9. Europe Talent Management Software Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Talent Management Software Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Talent Management Software Market Size and Volume Forecast by Applications
     9.4.1. Healthcare
     9.4.2. BFSI
     9.4.3. Education
     9.4.4. IT & Telecom
     9.4.5. Retail
     9.4.6. Government
     9.4.7. Others
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Talent Management Software Demand Share Forecast, 2019-2026
10. Asia Pacific Talent Management Software Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Talent Management Software Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Talent Management Software Market Size and Volume Forecast by Applications
     10.4.1. Healthcare
     10.4.2. BFSI
     10.4.3. Education
     10.4.4. IT & Telecom
     10.4.5. Retail
     10.4.6. Government
     10.4.7. Others
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Talent Management Software Demand Share Forecast, 2019-2026
11. Middle East & Africa Talent Management Software Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Talent Management Software Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Talent Management Software Market Size and Volume Forecast by Applications
     11.4.1. Healthcare
     11.4.2. BFSI
     11.4.3. Education
     11.4.4. IT & Telecom
     11.4.5. Retail
     11.4.6. Government
     11.4.7. Others
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Talent Management Software Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Talent Management Software Market: Market Share Analysis
  12.2. Talent Management Software Distributors and Customers
  12.3. Talent Management Software Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Oracle Corp.
     12.4.2. Halogen Software Inc.
     12.4.3. IBM Corp.
     12.4.4. Cornerstone OnDemand Inc.
     12.4.5. Haufe Group
     12.4.6. Lumesse AS
     12.4.7. SAP SE
     12.4.8. Saba Software Inc.
     12.4.9. Peoplefluent, Inc.
     12.4.10. DelTek Inc

Methodology

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