Talent Management Software (TMS) Market: Global Size, Growth, Trends and Industry Analysis 2022-2027
SHERIDAN, WY, USA, July 25, 2022 /EINPresswire.com/ — 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. For Looking ahead, IMARC Group expects the market to reach US$25.8 billion by 2027, growing at a CAGR of 16.8% over the period 2022-2027. Talent Management Software (TMS) is an integrated platform that automates key talent management processes, such as performance management, strategic hiring, and employee development. It helps organizations set goals, identify and close skills gaps, offer personalized development plans and facilitate assessments. It provides tools that allow employers to accurately manage, evaluate, and compensate based on employee performance. It also helps streamline the recruiting process, reinforce a culture of career development, provide agile learning opportunities, and identify the best. As a result, TMS finds wide application in various industries including banking, financial services and insurance (BFSI), healthcare, information technology (IT) and manufacturing.
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Talent Management Software (TMS) Market Trends:
Growing adoption of cloud-based platforms coupled with rapid digitization represents the major driver for the growth of the talent management software market. Additionally, there has been a significant shift towards Human Resources tools as a service (SaaS) to automate scouting, identifying and hiring new talent from talent pools and retaining existing talent. Along with this, the growing need to replace traditional talent management methods to optimize resource utilization and improve the quality of hiring decisions has increased the demand for TMS. Additionally, major manufacturers are integrating TMS with optical trackers to help track individuals and analyze market trends and patterns through transactional activities and analytical inputs. With this in mind, recent product innovations, such as the integration of TMS with advanced technologies, such as machine learning (ML) and artificial intelligence (AI), have accelerated the rate of product adoption. Other factors including rising popularity of mobile workforce management systems, increasing penetration of social media platforms, and advancements in technology are also giving a positive impetus to the growth of the market.
Competitive Analysis and Segmentation of the Talent Management Software (TMS) Market 2022-2027:
Competitive landscape with key players:
The competitive landscape of the global Talent Management Software (TMS) Market 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
• Talentguard Inc.
• Ultimate software
• Workday Inc.
Key Market Segmentation:
The report has segmented the global 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
Breakdown by type of deployment:
• On the site
Breakdown by end user:
• Small and medium enterprises
• Large companies
• Health care
• IT and Telecom
• Media and entertainment
Breakdown by region:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
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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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