The Talent Management Software Market report highlights key findings in the area of ​​vendor application and geography

NEW YORK, January 27, 2022 /PRNewswire/ — Technavio’s talent management software market research report concludes that the implementation of cloud-based talent management software is driving growth in this market.

Attractive Opportunities in Talent Management Software Market by Deployment and Geography – Forecast and Analysis 2020-2024

Resulting in market growth of $5.41 billion from 2019 to 2024, read additional market information, get a FREE sample report.

Supplier Landscape

The market structure is expected to remain fragmented over the forecast period. Vendors are deploying different organic and inorganic growth strategies to compete in the market.

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. among others are some of the few key vendors competing to maintain their market position.

Various market players are engaging in strategic partnerships and joint ventures while launching differentiated products to up their game in the software industry. For example, in July 2019International Business Machines Corp. completed the acquisition of Red Hat Inc. Similarly, in May 2018Wood Group (a provider of technical and engineering services) has signed a multi-year agreement with IBM to transform asset lifecycle management.

See more on the highlights of the market vendor landscape with a comprehensive list of vendors and their offerings.

Key market segmentation

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Regional Market Outlook

North America will contribute 43% of the market growth over the forecast period. The major reason for the growth of the market in this region is the growing acceptance of advanced technologies and rapid digitalization of industries. The majority of talent management software vendors, such as Oracle, ADP LLC (ADP), and Cornerstone, among others, operate in the region. In countries like the United States and Canadathe IT and retail sectors are growing rapidly.

Apart from regions, if we look at the market growth by country, the United States and Canada are the key markets for the growth of talent management software in North America. The United States is home to many businesses and has a highly competitive labor ecosystem.

Download our FREE sample report for more key highlights on the regional market share of most of the countries mentioned above.

Latest drivers and challenges for the global talent management software market

The HR hiring process is not limited to organizations. In addition, the performance of candidates can be fairly controlled in terms of performance or rewards to realize the benefits of the employee. Talent management software helps digitize operations of organizations to improve business value and enable organizations to achieve their goals. Additionally, data can be shared across the organization. Hence, the benefits of talent management software are expected to drive the market growth significantly over the forecast period.

  • Most organizations around the world and MSEs are implementing cloud-based software services that are scalable and easy to use. These cloud-based services enable fast access to programs and data for end users with enhanced IT services. Additionally, along with a number of benefits, there are several security concerns related to data security for organizations as these cloud-based services are shared among multiple organizations and users. In addition, a number of data center cyberattack reports have raised concerns over data privacy and lack of control over information is a major challenge for data management software market share growth. talent over the forecast period.

Find additional information on various other market drivers and trends mentioned in our Sample FREE Report.

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Scope of the Talent Management Software Market

Report cover

Details

Page number

120

base year

2019

Forecast period

2020-2024

Growth momentum and CAGR

Accelerate at a CAGR of 11%

Market Growth 2020-2024

$5.41 billion

Market structure

Concentrated

Annual growth (%)

9.89

Regional analysis

North America, Europe, APAC and South America

Successful market contribution

North America at 43%

Main consumer countries

United States, Canada, Germany and Japan

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

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.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, Impact of COVID-19 and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period,

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

About Us

Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

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Technavio (PRNewsfoto/Technavio)

Technavio (PRNewsfoto/Technavio)

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