Global Talent Management Softwares Market | Use of Cloud-based Talent Management Softwares to Boost the Market Growth | Technavio

Eufemia Didonato

LONDON–(BUSINESS WIRE)–The global talent management softwares market size is poised to grow by USD 5.41 billion during 2020-2024, progressing at a CAGR of about 11% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and […]

LONDON–(BUSINESS WIRE)–The global talent management softwares market size is poised to grow by USD 5.41 billion during 2020-2024, progressing at a CAGR of about 11% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

The rising adoption of cloud-based talent management software will also contribute to the growth of the market. The flexibility and cost benefits associated with cloud services have boosted the popularity of cloud computing among SMEs and organizations across the world. The adoption of cloud-based solutions will eliminate the need for setting up data centers, thereby minimizing the capital expenditure (CAPEX) for organizations. Moreover, organization and employee data stored in the cloud can be easily accessed through cloud-based solutions. The rising adoption of cloud-based services has encouraged market vendors to offer cloud-based talent management software. The demand for such cloud-based talent management software will increase as it requires fewer resources for its implementation and provides several cost benefits. These factors are expected to drive the growth of the talent management software market during the forecast period.

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Report Highlights:

  • The major talent management software market growth came from the cloud-based segment. The adoption of cloud-based talent management software is expected to increase significantly due to the growth of SMEs in the US, India, China, and other countries. Cloud-based talent management software offers several benefits such as real-time application performance analytics, regular security updates, global accessibility from any location, and scalability.
  • North America was the largest talent management software market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The increasing acceptance of advanced technologies, strong presence and penetration of critical vendors, and the rapid digitalization of industries will significantly influence talent management software market growth in this region.
  • The global talent management software market is concentrated. Automatic Data Processing Inc., Bullhorn Inc., Cornerstone OnDemand Inc., International Business Machines Corp., Infor Inc., Oracle Corp., Saba Software Inc., SAP SE, The Ultimate Software Group Inc., and Workday Inc. some of the major market participants. To help clients improve their market position, this global talent management software market forecast report provides a detailed analysis of the market leaders.
  • As the business impact of COVID-19 spreads, the global talent management software market 2020-2024 is expected to have Positive and Superior growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

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Rising Popularity of Mobile-based Talent Management Softwares will be a Key Market Trend

The rising popularity of mobile-based talent management software will be one of the critical talent management software market trends. The increasing penetration of smartphones, especially in emerging countries, has resulted in the widespread use of mobile apps in various sectors. Recruiters and job seekers are also using various HR-operation focused mobile apps on accessing job-related information. This has encouraged several organizations to adopt mobile-based talent management software to simplify their hiring and selection process. Mobile-based talent management software can also be used by HR managers for the appraisal review process and to push job-related information and collect responses. The real-time data access and ease of posting jobs and accessing candidate’s data provided by mobile-based talent management software will further boost its popularity among end-users.

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Talent Management Softwares Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist talent management software market growth during the next five years
  • Estimation of the talent management software market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the talent management software market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of talent management software market vendors

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 – 2024

Five Forces Analysis

  • Five Forces Summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Deployment

  • Market segments
  • Comparison by Deployment placement
  • Cloud-based – Market size and forecast 2019-2024
  • On-premise – Market size and forecast 2019-2024
  • Market opportunity by Deployment

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America – Market size and forecast 2019-2024
  • Europe – Market size and forecast 2019-2024
  • APAC – Market size and forecast 2019-2024
  • South America – Market size and forecast 2019-2024
  • MEA – Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers
  • Volume driver – Demand led growth
  • Volume driver – Supply led growth
  • Volume driver – External factors
  • Volume driver – Demand shift in adjacent markets
  • Price driver – Inflation
  • Price driver – Shift from lower to higher priced units
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Automatic Data Processing Inc.
  • Bullhorn Inc.
  • Cornerstone OnDemand Inc.
  • International Business Machines Corp.
  • Infor Inc.
  • Oracle Corp.
  • Saba Software Inc.
  • SAP SE
  • The Ultimate Software Group Inc.
  • Workday Inc.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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