Talent Management Software (TMS) Market Size, Share, Key Players, Growth and Industry Trends 2022-2027
SHERIDAN, WY, USA, July 19, 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) represents the workforce management application that involves strategic hiring and employee development. It allows organizations to track their employees by identifying and addressing skills gaps, setting goals, providing personalized development plans, facilitating assessments, and more. Talent management software gives employers the tools to accurately manage, assess, and compensate based on employee performance. Therefore, it finds wide applications in several industries, such as healthcare, banking, financial services and insurance (BFSI), information technology (IT), retail, manufacturing, etc. ., worldwide.
Impact of COVID-19
We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
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The growing penetration of cloud-based platforms is mainly driving the talent management software (TMS) market. Additionally, the growing need to replace traditional methods to optimize resource utilization and improve the quality of hiring decisions is further catalyzing the growth of the market. Additionally, the growing demand for software-as-a-service (SaaS) platforms to automate scouting, identifying and acquiring new talent from talent pools, retaining existing talent, etc., and the widespread adoption of mobile-based personnel management act as important growth drivers. Moreover, TMS also streamlines the recruitment process, enhances workforce culture, provides agile learning opportunities, etc., which positively influences the global market. Apart from this, many technological advancements, such as the introduction of machine learning (ML) and artificial intelligence (AI) based systems that use optical trackers to monitor individuals and recognize patterns through activities transactional and analytical inputs, should nurture talent. management software (TMS) market over the forecast period.
Competitive Analysis and Segmentation of the Talent Management Software (TMS) Market 2022-2027:
Competitive landscape with key players:
The competitive landscape of the Talent Management Software 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 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:
• 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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