Talent Management Software Market Research Report- Global Forecast 2027

Talent Management Software Market, By Component (Solutions, Services), Deployment (On Premise, Cloud), Organization Size (SMEs and Large Enterprises) and Vertical – Global Forecast 2027

ID: MRFR/ICT/2641-HCR | February 2021 | Region: Global | 100 pages

Please note that assessment period of report has been updated from 2017-2023 to 2020-2027. Cordially fill sample form for updated data.

Market overview


A talent management software solution provides the full scope of talent management that includes performance management, learning and development, recruitment, employee onboarding, succession planning, and compensation management. This software helps the company and HR for achieving their long-term business goals by putting their employees first. It provides all the needs for workforce management. Traditionally, in a business organization, the human resource and enterprise resource were focusing on management. But the talent management software focuses on long-term business goals and hiring top talent. It also helps with a strategic hiring process and selecting the right person for the job.


Increasing demand to increase various factors in the healthcare sectors like reducing nursing turnover, patient satisfaction, increasing employee productivity is boosting the demand for talent management software. Apart from healthcare, the IT and telecommunication industry is holding a major telnet management market share. Businesses are always looking for tools that will help them with achieving their goals by quickly analyzing, managing, and optimizing business needs. The use of talent management software is not only limited to large enterprises but also small and medium businesses are adopting talent management software to enhance their business requirements. In coming years the demand for talent management software will increase in various sectors, and with that, it will bossy the talent management software market growth.


This report highlights the market is expected to grow at $ 16 billion in the forecast period with a CAGR rate of 16%. The adoption of mobile technology is influencing talent management market growth. The emerging trend of data analytics in the field of the HR Industry seems to create opportunities for the market. Talent management is growing with increasing social media and cloud software. These HR software on the rise after collaborating with mobile apps and social media tools. Decreasing the employment rate, raising freelancing work, changing the work environment will boost the talent management software market in coming years.


Covdi-19 analysis


The covid-19 pandemic was a disaster for many business organizations across the world. With the production at a halt, the market supply of products was low. But the covid-19 pandemic brought great opportunities for the talent management software market. Due to the lockdown, people were highly dependent on software to run their businesses smoothly. Those companies who were looking for employees in this pandemic took the help of talent management software to hire and run their businesses. Many organizations were hiring employees for freelance work, and they took the help of talent management software to hire them. Talent management software was the best medium for businesses, and all sectors realized the value of it.  The demand for the talent management software market is expected to grow in coming years with increasing the need for it.


Market Dynamics


Major drivers


The market drivers are boosting the demand for talent management software across the globe. Adoption of artificial intelligence and big data analytics enhancing workforce monitoring, communication, and recognition.  Organizations are looking forward to using talent management software to deal with future talent needs. Growing cloud popularity, real-time employee engagement is boosting the talent management software market growth. The increasing adoption of mobile-based systems is one of the key drivers of the market. The traditional methods are not enough to solve all the recruiting challenges posed by the modern workforce. To meet the requirements of talent needs, organizations are adopting automated solutions like talent management software. Using this software helping the organization to meet their business needs, and that is why the market is on the rise.


Market opportunities


Over the years, there is a huge rise in social media platforms, and it is bringing new opportunities for the global talent management software market. Many apps and social media platforms collaborating with talent management software to fulfill the business requirements. TMS market will see huge growth in demand due to the covid-19 pandemic. In the covid-19 situation, people stayed mostly at home, and all the businesses took the help of talent management software to run their businesses.  Now many organizations understand the need for the software, and it being new opportunities for the talent management software Industry.


Market restraints


Lack of knowledge in some sectors is the major restraint for the TMS market. Many business organizations are using the same old traditional methods, and they haven’t upgraded to software solutions to make the process better. Businesses are not ready to invest in adopting these software solutions, and that is why it is becoming a major restraint for talent management software. It is expected that the market will grow more in the coming years with the adoption of software solutions.


Market growth challenges


There are some challenges faced by the talent management software market, and the market is trying its best to overcome these challenges. One of the major challenges is to make people educate about software solutions. Without the proper understanding, businesses aren’t ready to invest in the talent management software market. The market drivers and the talent management software market players are trying their best to overcome the challenges.


Cumulative growth analysis


The adoption of talent management software is increasing, and the major drivers are driving the market growth. Even though There some many restraints and challenges faced by the TMS market, it is expected to grow more in the forecast period. The talent management software market size is expected to grow $16 billion by 2023, with a CAGR rate of 16% in the forecast period.


Segment overview


The talent management software market segments are by solution, service, deployment, and vertical.


By component solutions, the market is divided into



  • Learning management

  • Talent acquisition

  • Performance planning

  • Workforce management

  • Compensation management


By service, the talent management software market is divided into



  • Support and maintenance

  • Professional

  • Training and education


By deployment, the talent management software market segmented into



  • Cloud

  • On-premise

  • By organization size

  • SEMs

  • Large enterprises


By vertical, the market is divided into



  • Healthcare

  • Manufacturing

  • BFSI

  • Retail education

  • Retail

  • Education

  • Media and entertainment


Regional analysis


The global talent management software market is analyzed across some of the major regions such as North America, Europe, Asia Pacific, and other regions in the world.  North America is responsible for the highest talent management software market sales growth because this region is a major buyer of cloud solutions, and this region is expected to continue its dominance in the coming years.  Asia Pacific is expected to register the highest CAGR in the coming years because the market in this region is rapidly growing.  The adoption of digital India, expansion of budgets in the IT sector driving the growth in this region.  Companies are choosing automated business processes, and it is boosting the demand for talent management software solutions in this region. To ease the burden of overworked staff and another professional burden, the telnet management software market demand is increasing in the European region. The market in this region is expected to grow more in the coming years with the increasing adoption of software solutions.


Competitive landscape



  • Halogen Software (Canada)

  • Lumesse Ltd. (U.K.)

  • Saba Software (U.S.)

  • Cornerstone OnDemand (U.S.)

  • Kenexa (U.S.)

  • Taleo Corporation (U.S.)

  • iCims, Inc. (U.S.)

  • Sumtotal Systems, Inc. (U.S.)

  • Talentsoft (France)

  • Skillsoft (U.S.)


These are the major talent management software market players. Among Halogen Software (Canada), Lumesse Ltd. (U.K.), Saba Software (U.S.), Cornerstone OnDemand (U.S.), Kenexa (U.S.), Taleo Corporation (U.S.), iCims, Inc. (U.S.), Sumtotal Systems, Inc. (U.S.), Talentsoft (France), Skillsoft (U.S.) the Halogen Software (Canada) is contributing the most to the market.


Recent developments



  • In November 2019, cornerstone OnDemand, Inc. and Kronos, who is a provider of HCM solutions, merged with workforce management to give a better experience to the employees.

  • In February 2020, cornerstone OnDemand, Inc. bought Saba, software and it will help cornerstone OnDemand, Inc to increase the product offerings and help the clients with great learning opportunities.

  • February 2020- Orion Novotus that is a provider of requirement processes, took the help of Sava software. The Saba software will help Orion Novotus to enhance the requirement process.

  • In November 2020, sum Total systems, Inc launched a mobile experience for a better learning experience. The aim is to provide talent development.



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 16 Billion (2023)
  CAGR   16% (2017-2023)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Component, Organization Size
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Halogen Software (Canada), Taleo Corporation (U.S.), Cornerstone OnDemand (U.S.), Kenexa (U.S.), Sumtotal Systems, Inc. (U.S.), iCims, Inc. (U.S.), Skillsoft (U.S.), Talentsoft (France), Lumesse Ltd. (U.K.), Saba Software (U.S.)
  Key Market Opportunities   The major growth in talent management software market in North America is attributed to the technical advancements and increasing emergence of social media platforms in that region.
  Key Market Drivers   Increasing demand of cloud-based talent management software module is driving the growth of cloud deployment model segment.


Frequently Asked Questions (FAQ) :


The surging use of social media platforms by end-users is estimated to boost the overall market share in the forthcoming period.

Cornerstone OnDemand (U.S.), Taleo Corporation (U.S.), Kenexa (U.S.), Talentsoft (France), Sumtotal Systems, Inc. (U.S.), iCims, Inc. (U.S.), Skillsoft (U.S.) are a few of contenders functioning in the market in various regions.

A 16% CAGR is anticipated to motivate the market towards outstanding development in the coming years.

A USD 16 Billion income, is expected to be gained by the market in the coming years by 2023

Component, deployment, organization size, and vertical are the segments made to understand the market better.

TABLE OF CONTENTS

1 MARKET INTRODUCTION

1.1 INTRODUCTION

1.2 SCOPE OF STUDY

1.2.1 RESEARCH OBJECTIVE

1.2.2 ASSUMPTIONS

1.2.3 LIMITATIONS

1.3 MARKET STRUCTURE

2 RESEARCH METHODOLOGY

2.1 RESEARCH TYPE

2.2 PRIMARY RESEARCH

2.3 SECONDARY RESEARCH

2.4 FORECAST MODEL

2.4.1 MARKET DATA COLLECTION, ANALYSIS & FORECAST

2.4.2 MARKET SIZE ESTIMATION

3 MARKET DYNAMICS

3.1 INTRODUCTION

3.2 MARKET DRIVERS

3.3 MARKET CHALLENGES

3.4 MARKET OPPORTUNITIES

3.5 MARKET RESTRAINTS

4 EXECUTIVE SUMMARY

5. MARKET FACTOR ANALYSIS

5.1 PORTER’S FIVE FORCES ANALYSIS

5.2 SUPPLY CHAIN ANALYSIS

6 TALENT MANAGEMENT SOFTWARE MARKET, BY SEGMENTS

6.1 INTRODUCTION

6.2 MARKET STATISTICS

6.2.1 BY COMPONENT

6.2.1.1 SOLUTIONS

6.2.1.1.1 WORKFORCE PLANNING

6.2.1.1.2 LEARNING MANAGEMENT

6.2.1.1.3 COMPENSATION MANAGEMENT

6.2.1.1.4 TALENT ACQUISITION

6.2.1.1.5 PERFORMANCE PLANNING

6.2.1.2 SERVICES

6.2.1.2.1 PROFESSIONAL

6.2.1.2.2 TRAINING & EDUCATION

6.2.1.2.3 SUPPORT & MAINTENANCE

6.2.2 BY DEPLOYMENT

6.2.2.1 ON PREMISE

6.2.2.2 CLOUD

6.2.3 BY ORGANIZATION SIZE

6.2.3.1 SMES

6.2.3.2 LARGE ENTERPRISES

6.2.4 BY VERTICAL

6.2.4.1 BFSI

6.2.4.2 HEALTHCARE

6.2.4.3 MANUFACTURING

6.2.4.4 MEDIA & ENTERTAINMENT

6.2.4.5 EDUCATION

6.2.4.6 GOVERNMENT

6.2.6 BY REGION

6.2.6.1 NORTH AMERICA

6.2.6.2 EUROPE

6.2.6.3 ASIA-PACIFIC

6.2.6.4 REST OF THE WORLD

7 COMPETITIVE ANALYSIS

7.1 MARKET SHARE ANALYSIS

7.2 COMPANY PROFILES

7.2.1 HALOGEN SOFTWARE (CANADA)

7.2.2 TALEO CORPORATION (U.S.)

7.2.3 CORNERSTONE ONDEMAND (U.S.)

7.2.4 KENEXA (U.S.)

7.2.5 SUMTOTAL SYSTEMS, INC. (U.S.)

7.2.6 ICIMS, INC. (U.S.)

7.2.7 SKILLSOFT (U.S.)

7.2.8 TALENTSOFT (FRANCE)

7.2.9 LUMESSE LTD. (U.K.)

7.2.10 SABA SOFTWARE (U.S.)

7.2.11 OTHERS

LIST OF TABLES

TABLE 1 TALENT MANAGEMENT SOFTWARE MARKET, BY COMPONENT

TABLE 2 TALENT MANAGEMENT SOFTWARE MARKET, BY DEPLOYMENT

TABLE 3 TALENT MANAGEMENT SOFTWARE MARKET, BY ORGANIZATION SIZE

TABLE 4 TALENT MANAGEMENT SOFTWARE MARKET, BY VERTICAL

TABLE 5 TALENT MANAGEMENT SOFTWARE MARKET, BY REGIONS

TABLE 6 NORTH AMERICA TALENT MANAGEMENT SOFTWARE MARKET, BY COMPONENT

TABLE 7 NORTH AMERICA TALENT MANAGEMENT SOFTWARE MARKET, BY DEPLOYMENT

TABLE 8 NORTH AMERICA TALENT MANAGEMENT SOFTWARE MARKET, BY ORGANIZATION SIZE

TABLE 9 NORTH AMERICA TALENT MANAGEMENT SOFTWARE MARKET, BY VERTICAL

TABLE 10 U.S. TALENT MANAGEMENT SOFTWARE MARKET, BY COMPONENT

TABLE 11 U.S. TALENT MANAGEMENT SOFTWARE MARKET, BY DEPLOYMENT

TABLE 12 U.S. TALENT MANAGEMENT SOFTWARE MARKET, BY ORGANIZATION SIZE

TABLE 13 U.S. TALENT MANAGEMENT SOFTWARE MARKET, BY VERTICAL

TABLE 14 CANADA TALENT MANAGEMENT SOFTWARE MARKET, BY COMPONENT

TABLE 15 CANADA TALENT MANAGEMENT SOFTWARE MARKET, BY DEPLOYMENT

TABLE 16 CANADA TALENT MANAGEMENT SOFTWARE MARKET, BY ORGANIZATION SIZE

TABLE 17 CANADA TALENT MANAGEMENT SOFTWARE MARKET, BY VERTICAL

TABLE 18 GERMANY TALENT MANAGEMENT SOFTWARE MARKET, BY COMPONENT

TABLE 19 GERMANY TALENT MANAGEMENT SOFTWARE MARKET, BY DEPLOYMENT

TABLE 20 GERMANY TALENT MANAGEMENT SOFTWARE MARKET, BY ORGANIZATION SIZE

TABLE 21 GERMANY TALENT MANAGEMENT SOFTWARE MARKET, BY VERTICAL

TABLE 22 U.K. TALENT MANAGEMENT SOFTWARE MARKET, BY COMPONENT

TABLE 23 U.K. TALENT MANAGEMENT SOFTWARE MARKET, BY DEPLOYMENT

TABLE 24 U.K. TALENT MANAGEMENT SOFTWARE MARKET, BY ORGANIZATION SIZE

TABLE 25 U.K. TALENT MANAGEMENT SOFTWARE MARKET, BY VERTICAL

TABLE 26 EUROPE TALENT MANAGEMENT SOFTWARE MARKET, BY COMPONENT

TABLE 27 EUROPE TALENT MANAGEMENT SOFTWARE MARKET, BY DEPLOYMENT

TABLE 28 EUROPE TALENT MANAGEMENT SOFTWARE MARKET, BY ORGANIZATION SIZE

TABLE 29 EUROPE TALENT MANAGEMENT SOFTWARE MARKET, BY VERTICAL

TABLE 30 FRANCE TALENT MANAGEMENT SOFTWARE MARKET, BY COMPONENT

TABLE 31 FRANCE TALENT MANAGEMENT SOFTWARE MARKET, BY DEPLOYMENT

TABLE 32 FRANCE TALENT MANAGEMENT SOFTWARE MARKET, BY ORGANIZATION SIZE

TABLE 33 FRANCE TALENT MANAGEMENT SOFTWARE MARKET, BY VERTICAL

TABLE 34 ASIA-PACIFIC TALENT MANAGEMENT SOFTWARE MARKET, BY COMPONENT

TABLE 35 ASIA-PACIFIC TALENT MANAGEMENT SOFTWARE MARKET, BY DEPLOYMENT

TABLE 36 ASIA-PACIFIC TALENT MANAGEMENT SOFTWARE MARKET, BY ORGANIZATION SIZE

TABLE 37 ASIA-PACIFIC TALENT MANAGEMENT SOFTWARE MARKET, BY VERTICAL

TABLE 38 REST OF THE WORLD TALENT MANAGEMENT SOFTWARE MARKET, BY COMPONENT

TABLE 39 REST OF THE WORLD TALENT MANAGEMENT SOFTWARE MARKET, BY DEPLOYMENT

TABLE 40 REST OF THE WORLD TALENT MANAGEMENT SOFTWARE MARKET, BY ORGANIZATION SIZE

TABLE 41 REST OF THE WORLD TALENT MANAGEMENT SOFTWARE MARKET, BY VERTICAL


LIST OF FIGURES

FIGURE 1 RESEARCH TYPE

FIGURE 2 TALENT MANAGEMENT SOFTWARE MARKET, BY COMPONENT (%)

FIGURE 3 TALENT MANAGEMENT SOFTWARE MARKET, BY DEPLOYMENT (%)

FIGURE 4 TALENT MANAGEMENT SOFTWARE MARKET, BY ORGANIZATION SIZE (%)

FIGURE 5 TALENT MANAGEMENT SOFTWARE MARKET, BY VERTICAL (%)

FIGURE 6 TALENT MANAGEMENT SOFTWARE MARKET, BY REGIONS (%)

FIGURE 7 NORTH AMERICA TALENT MANAGEMENT SOFTWARE MARKET, BY COMPONENT (%)

FIGURE 8 NORTH AMERICA TALENT MANAGEMENT SOFTWARE MARKET, BY DEPLOYMENT (%)

FIGURE 9 NORTH AMERICA TALENT MANAGEMENT SOFTWARE MARKET, BY ORGANIZATION SIZE (%)

FIGURE 10 NORTH AMERICA TALENT MANAGEMENT SOFTWARE MARKET, BY VERTICAL (%)

FIGURE 11 EUROPE TALENT MANAGEMENT SOFTWARE MARKET, BY COMPONENT (%)

FIGURE 12 EUROPE TALENT MANAGEMENT SOFTWARE MARKET, BY DEPLOYMENT (%)

FIGURE 13 EUROPE TALENT MANAGEMENT SOFTWARE MARKET, BY ORGANIZATION SIZE (%)

FIGURE 14 EUROPE TALENT MANAGEMENT SOFTWARE MARKET, BY VERTICAL (%)

FIGURE 15 ASIA-PACIFIC TALENT MANAGEMENT SOFTWARE MARKET, BY COMPONENT (%)

FIGURE 16 ASIA-PACIFIC TALENT MANAGEMENT SOFTWARE MARKET, BY DEPLOYMENT (%)

FIGURE 17 ASIA-PACIFIC TALENT MANAGEMENT SOFTWARE MARKET, BY ORGANIZATION SIZE (%)

FIGURE 18 ASIA PACIFIC TALENT MANAGEMENT SOFTWARE MARKET, BY VERTICAL (%)

FIGURE 19 REST OF THE WORLD TALENT MANAGEMENT SOFTWARE MARKET, BY COMPONENT (%)

FIGURE 20 REST OF THE WORLD TALENT MANAGEMENT SOFTWARE MARKET, BY DEPLOYMENT (%)

FIGURE 21 REST OF THE WORLD TALENT MANAGEMENT SOFTWARE MARKET, BY ORGANIZATION SIZE (%)

FIGURE 22 REST OF THE WORLD TALENT MANAGEMENT SOFTWARE MARKET, VERTICAL (%)