The global talent management software market is expected to reach USD 24.03 billion by 2025 according to a new report by Grand View Research, Inc. The talent management software industry is anticipated to undergo a series of changes owing to various factors such as decreasing employment rate, changing work environment, the rise of freelancing and contract work, and a globalized workforce.
The most pertinent of the factors is the advent of new software and technologies, such as big data analytics, social media, and the Internet. Mobile platforms are also revolutionizing some important talent management stages, such as recruitment and learning & training, thus driving competition in the market.
Industry leaders have been providing the products in the market for quite some time now but trends such as transparency, customization, and employee engagement are expected to be at the forefront of the new and upcoming offerings to customers. The increasing use of analytics to map the performances and predict the future outcomes has also had a positive effect on the adaptation to the technology in demand.
Solution integration and the availability of middleware from vendors are also an important step forward for the industry standardization. As the industry strides toward larger adoption and rapid developments in terms of capabilities, many new trends such as Massively Open Online Courses (MOOCs) and social media adherence, for either pre-hire assessment or employee feedback management, are gaining traction in the market.
Browse Full Report on Talent Management Software Market: http://www.grandviewresearch.com/industry-analysis/talent-management-software-market
Further key findings from the report suggest:
- The human resource departments are responsible for decisions concerning talent management systems and are witnessing a shift toward integrated solutions
- Organizations, they are in search of platforms to integrate the disconnected systems
- As the industry is moving toward digital management and cloud-based applications, there is a looming threat of data breaches and hacking incidents
- Key industry participants include IBM Corp., Oracle Corp., SAP SE, Peoplefluent Inc., CornerStone OnDemand Inc., Haufe Group, Lumesse AS, DelTek Inc., Saba Software Inc., and Halogen Software Inc., among others
- The industry may also witness a rise in the number of small companies and start-ups that address the niche markets and provide customized solutions while being susceptible to acquisitions and mergers of smaller firms as well as the entry of technology giants to capitalize on the market opportunities
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Grand View Research has segmented the talent management software market on the basis of solution, deployment, application, and region:
Talent management software solution outlook (Revenue, USD Million; 2014 – 2025)
- Recruiting Management
- Compensation Management
- Employee Lifecycle Management
- Learning and Training Management
- Performance Management
Talent management software deployment outlook (Revenue, USD Million; 2014 – 2025)
Talent management software application outlook (Revenue, USD Million; 2014 – 2025)
- IT & Telecom
Talent management software regional outlook (Revenue, USD Million; 2014 – 2025)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com