Talent Management Software Market: Introduction
Talent management software is the set of application tools which aids human resource professionals to manage employee’s details under which it offers four varied services including recruitment, performance management, learning & development and talent development. Talent management software aids in compiling data points of the employee lifecycle which can be used for recruitment in a more efficient way and for training and development purposes. Employee related information is designed and used as predictive data which aids in having a better understanding about the employees. The data is then used by decision makers while making strategic decisions.
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Talent Management Software Market: Market Dynamics
Talent management software ensures that they comply with the labor policies across various industries as well as it provides customized solutions according to cultures, languages, localized needs and workforce dynamics which aids in the growth of talent management software market. Companies are working towards getting the right mix of people and the talent sets meeting the requirement and talent management is an important aspect from the company’s perspective and the factor is driving the demand for talent management software market.
Talent Management Software Market Segmentation
Segmentation of Talent Management Software Market on the basis of deployment:
- On-premise
- Cloud
Segmentation of Talent Management Software Market on the basis of verticals:
- BFSI
- Manufacturing
- IT & telecom
- E-commerce
- Recruitment Consultancies
- Others
Segmentation of Talent Management Software Market on the basis of organization size:
- Small organizations
- Mid-size organizations
- Large organizations
Segmentation of Talent Management Software Market on the basis of geography:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia-Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- The Middle East and Africa (GCC, South Africa, North Africa)
Regional Overview
On the basis of geography, talent management software market can be segmented into seven key markets namely North America, Latin America, Western Europe, Eastern Europe, APAC, Japan, Middle East and Africa. Among all the regions, North America is expected to dominate the market of talent management software because of the presence of major companies in the BFSI sector in the region. North America is expected to be followed by Asia-Pacific and Europe region.
Recruitment being one of the key function offered by talent management software, an increase in demand for automated recruitment process will drive the talent software market. Others factors such as increasing penetration of mobile and app technology among the professionals will encourage more companies to adopt talent management software, supported by increasing usage of mobile and apps by candidates for the job application, because of which more and more recruiters will get attracted towards talent management software. However, challenges such as intense competition, integration issues, and rapid technology advancements are some of the challenges for talent management software market.
Competitive Landscape
Major players in the field of talent management software include
- IBM Corporation
- Oracle Corp
- SAP
- Workday Inc.
- Cornerstone OnDemand
- Halogen Software Inc. etc.
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Regional analysis for Talent Management Software Market includes
- Talent Management Software Market by North America
- US & Canada
- Talent Management Software Market by Latin America
- Brazil, Argentina & Others
- Talent Management Software Market by Western Europe
- EU5
- Nordics
- Benelux
- Talent Management Software Market by Eastern Europe
- Russia
- Poland
- Rest of Eastern Europe
- Talent Management Software Market by Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
- Talent Management Software Market by Japan
- Talent Management Software Market by the Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative, and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.