Talent Management Software Market Size & Share, By Solution (Recruiting Management, Compensation Management, Employee Lifecycle Management, Learning & Training Management, Performance Management); Deployment; Application; Enterprise Size - Global Supply & Demand Analysis, Growth Forecasts, Statistical Report 2025-2037

  • Report ID: 6426
  • Published Date: Sep 13, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2025-2037

Talent Management Software Market size is evaluated at USD 11.78 billion in 2024 and is projected to exceed USD 59.04 billion by the end of 2037, expanding at over 13.2% CAGR during the forecast period i.e., between 2025-2037. In 2025, the industry size of talent management software is estimated at USD 13.33 billion.

The primary cause of the increased demand for software solutions is the quick transition to web-based applications and digitization. Additionally, the rate at which various industries are implementing talent management solutions and tools is expected to lead to an inflow of new and improved tools into the talent management software market. Shifting preferences to cloud-based technologies is a key factor expected to boost demand for advanced talent management software and solutions. Cloud-based talent management software has many advantages such as cost-effectiveness, scalability, and simplicity of setup. Businesses can avoid the costly and time-consuming on-premise hardware, maintenance, and upgrades by using cloud-based personnel management software.


Talent Management Software Market Overview
Get more information on this report: Request Free Sample PDF

Talent Management Software Sector: Growth Drivers and Challenges

Growth Drivers:

  • Growing popularity of cloud-based technologies: With the exponential rise in data generation, businesses and organizations will probably seek innovative solutions. For instance, in March 2021 IBM OpenPages created cloud-based data privacy management software to assist companies in addressing emerging data privacy concerns. Furthermore, the adoption of Software-as-a-Service (SaaS) technology will most likely facilitate the automation of talent scouting and recruitment. Technological advancements such as artificial intelligence and machine learning will drive talent management software companies to further establish their market leadership.
  • Simplifying the recruitment process: Several parts of the hiring process, including candidate tracking, interview scheduling, and resume screening, can be automated and made simple with talent management software. By doing this, companies can save time and money while concentrating on other crucial areas such as staff development and training. Additionally, by offering a user-friendly and captivating applicant experience, talent management software can assist companies in locating and luring top personnel. In a competitive job market, this can help companies stand out and draw in the top prospects.
  • Technological advancements: The economy is expanding due to several technical advancements, including the use of ML and AI in talent management software. For instance, in June Trakstar, announced the launch of Trakstar Perform, an all-in-one solution for training and staff development, performance monitoring and engagement, and enhanced hiring. The increasing prevalence of talent management software among firms might be attributed to the increased requirement for HR process optimization.

Challenges:

  • Privacy and data security concerns: Data security and privacy concerns are a major barrier to the global talent management software market. With more businesses depending on software programs to handle private employee data, concerns about data breaches and illegal access are mounting. Due to the General Data Protection Regulation (GDPR) and other tough data protection laws, enterprises need to make sure that talent management software suppliers follow strong security protocols and privacy rules. Talent management software adoption may be hampered by the possible hazards related to data security, especially in companies where data security is a top priority.
  • Lack of awareness: Small firms make up a sizable share of the worldwide workforce and might benefit from the implementation of talent management software, therefore this lack of awareness could limit the talent management software market growth. Furthermore, since many talent management software solutions can be costly to adopt and maintain, small organizations may be reluctant to invest. This may prevent these solutions from being widely adopted and hinder market expansion.

Talent Management Software Market: Key Insights

Base Year

2024

Forecast Year

2025-2037

CAGR

13.2%

Base Year Market Size (2024)

USD 11.78 billion

 Forecast Year Market Size (2037)

USD 59.04 billion

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
Get more information on this report: Request Free Sample PDF

Talent Management Software Segmentation

Deployment (On-Premise, Cloud)

On-premise segment is poised to hold talent management software market share of over 58.1% by the end of 2037, owing to increasing focus on deployed advanced software for data security and customization. Businesses are choosing on-premises solutions that offer more security and compliance with data protection standards as they want secure control over their HR procedures and sensitive employee data. Furthermore, the demand for on-premises deployment alternatives is rising due to the necessity for customized solutions that match certain business operations and the desire for software to interact easily with current systems.

Application (BFSI, Retail, IT & Telecom, Healthcare, Government, Education)

In talent management software market, IT & telecom segment is expected to account for revenue share of more than 22.5% by the end of 2037. The software's capabilities for performance monitoring, training, and skill assessment prove crucial since these industries seek advanced technologies and a rapid evolution in skill requirements. The software finds applicants with specialized IT expertise, which expedites the hiring process. Its ability for remote work also fits in with the variable work schedules of the industry. Increased usage as a result has improved worker agility and capacity to meet changing industry demands.

Our in-depth analysis of the global market includes the following segments:

Solution

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

Deployment

  • On-Premise
  • Cloud

Application

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

Enterprise Size

  • SMEs
  • Large Enterprises

Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.

Customize this Report

Talent Management Software Industry - Regional Scope

North America Market Analysis

North America in talent management software market is likely to capture over 31.1% revenue share by 2037. The region's competitive and diverse job market necessitates the use of efficient techniques for attracting, developing, and keeping talent. Robust software solutions are required due to stringent labor standards and the requirement for compliance with data privacy legislation. In November 2022, Deltek introduced Deltek Unionpoint, a brand-new iPaaS solution. Deltek Talent Management expedites integration and customization and streamlines the authentication procedure.

The talent management software market in the U.S. is expected to rise due to the high adoption of digitization across several industries and the expanding use of cutting-edge talent management software technologies by IT services, healthcare, banking, and retail industries. In April 2023, Infor announced the launch of the Infor Talent Empowerment solution to help organizations personalize career mobility in offices.

Asia Pacific Market Analysis

The talent management software market in Asia Pacific will grow at fastest rate due to the region's openness to embracing new and cutting-edge technologies. Furthermore, driving demand in the developing world is a fundamental shift in the organizational management structure of the region.

In China, the talent management software market is expected to expand at a rapid pace during the forecast period owing to the rapid adoption of advanced technologies, including cloud computing and software as a service (SaaS), and rising demand for talent management solutions across several sectors. Companies in China are heavily investing in HR SaaS to offer easy HR management services and solutions to enterprises to navigate complex HR tasks such as talent management, performance management, and recruitment.

India is one of the leading countries in the Asia Pacific due to several factors, including the increased uptake of digital technologies, the rise of small and medium-sized businesses (SMEs) and start-ups, and the increasing awareness among companies of the advantages of talent management systems.

Research Nester
Talent Management Software Market Share
Get more information on this report: Request Free Sample PDF

Companies Dominating the Talent Management Software Landscape

    As per the findings of our comprehensive analysis of the talent management software market, disruptive technologies such as cloud computing and data analytics are making substantial market changes. Software solutions are gaining traction as businesses quickly move toward web-based applications and digitization. The industry is expanding due to a number of factors, including significant technological companies' involvement, an optimistic investment landscape, and extensive research and development operations. With major competitors emphasizing alliances, innovation, and customer experience, the market is fiercely competitive.  Here are some leading players in the talent management software market:

    • Talent Tech Labs (TTL)
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • Oracle Corporation
    • WorkLLama
    • SAP SE
    • IBM Corporation
    • Cornerstone OnDemand, Inc.
    • Workday, Inc.
    • Saba Software, Inc.
    • Talentsoft SA
    • Lumesse Limited

In the News

  • In March 2024, WorkLLama, a technology company announced a strategic alliance with Daxtra, a pioneer in AI-powered recruitment technology to integrate new technology and enhance its product portfolio. With an unmatched ability to improve the candidate experience and expedite the recruitment process, this represents a revolutionary leap forward in talent acquisition.
  • In February 2024, Talent Tech Labs (TTL) released the second version of its Talent Management Ecosystem, providing the most recent view of a dynamic software environment driving the modern transformation of HR service delivery.

Author Credits:  Abhishek Verma


  • Report ID: 6426
  • Published Date: Sep 13, 2024
  • Report Format: PDF, PPT
Talent Management Software Market Report Scope
logo
  GET A FREE SAMPLE

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

 Request Free Sample Copy

Have questions before ordering this report?

Inquiry Before Buying
Inquiry Before Buying Request Free Sample