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According to the latest report of the IMARC group, entitled “Talent Management Software (TMS) Market: Global Industry Trends, Share, Size, Growth, Opportunities and Forecast 2022-2027 »the global talent management software (TMS) market reached a value of US$10.4 billion in 2021. Looking ahead, IMARC Group expects the the market will reach US$25.8 billion by 2027posting a CAGR of 16.8% during the period 2022-2027.
Talent management software (TMS) stands for workforce management applications that cover employee development, strategic hiring, and performance management. They allow organizations to manage and track their employees by setting goals, providing personalized development plans, identifying and addressing skills gaps, and facilitating assessments. TMS tools allow employers to accurately assess, manage and compensate their employees based on their performance. Hence, they are widely used in many industries including banking, financial services and insurance (BFSI), healthcare, information technology (IT), retail, manufacturing, etc.
We regularly monitor the direct effect of COVID-19[feminine] in the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
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Talent Management Software (TMS) Market Tendencies:
- Growing penetration of cloud-based platforms and growing adoption of mobile-based personnel management systems are among the key factors driving the talent management software (TMS) market.
- The growing need to replace the traditional talent management process to optimize the use of resources and improve the quality of hiring decisions acts as another important growth driver.
- The growing use of Software-as-a-Service (SaaS) platforms to automate scouting and identify and retain existing talent is also positively influencing the global market.
- Increasing integration of advanced technologies, such as machine learning (ML) and artificial intelligence (AI), is further driving the growth of the market.
- The launch of several innovative solutions by leading market players to facilitate personnel management and provide better opportunities for employees is expected to catalyze the talent management software (TMS) market over the forecast period.
Competitive landscape with key players:
The competitive landscape of Talent Management Software (TMS) has been studied in the report along with the detailed profiles of key players operating in the market.
Some of these key players include:
- Cornerstone On Demand Inc.
- International Commercial Machinery Society
- Oracle Corporation
- SilkRoad Technology
- Skillsoft Corporation
- talent guard inc.
- Ultimate Software
- Workday Inc.
Key Market Segmentation:
The report has segmented the Talent Management Software (TMS) market on the basis of component, deployment type, end user, vertical, and region.
Breakdown by component:
- Workforce planning
- learning management
- Compensation management
- Talent Acquisition
- Performance Management
- Professional services
- Training and education
- Support and maintenance
Breakdown by type of deployment:
Breakdown by end user:
- Small and medium enterprises
- Large companies
- Health care
- IT and Telecom
- Media and Entertainment
Breakdown by region:
- North America (USA, Canada)
- Asia-Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Turkey, South Africa, Others)
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Main highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market trends
- Market drivers and success factors
- Impact of COVID-19
- Value chain analysis
- Complete mapping of the competitive landscape
If you need specific information that is not currently covered in the report, we will provide it to you as part of the customization.
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