Talent Management Software Market Size, Share & Trends Analysis Report By Solution, By Deployment (On-Premise, Cloud), By Enterprise Size, By Application, By Region, And Segment Forecasts, 2024 - 2030

Talent Management Software Market Size, Share & Trends Analysis Report By Solution, By Deployment (On-Premise, Cloud), By Enterprise Size, By Application, By Region, And Segment Forecasts, 2024 - 2030

Talent Management Software Market Growth & Trends

The global talent management software market size is expected to reach USD 22.67 billion by 2030, registering a CAGR of 12.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. The talent management software industry is anticipated to undergo a series of changes owing to various factors such as decreasing employment rate, changing work environment, the rise of freelancing and contract work, and a globalized workforce.

The most pertinent of the factors is the advent of new software and technologies, such as big data analytics, social media, and the Internet. Mobile platforms are also revolutionizing some important talent management stages, such as recruitment and learning & training, thus driving competition in the market.

Industry leaders have been providing the products in the market for quite some time now but trends such as transparency, customization, and employee engagement are expected to be at the forefront of the new and upcoming offerings to customers. The increasing use of analytics to map the performances and predict the future outcomes has also had a positive effect on the adaptation to the technology in demand.

Solution integration and the availability of middleware from vendors are also an important step forward for the industry standardization. As the industry strides toward larger adoption and rapid developments in terms of capabilities, many new trends such as Massively Open Online Courses (MOOCs) and social media adherence, for either pre-hire assessment or employee feedback management, are gaining traction in the market.

Talent Management Software Market Report Highlights

• The human resource departments are responsible for decisions concerning talent management systems and are witnessing a shift toward integrated solutions
• Organizations, they are in search of platforms to integrate the disconnected systems
• As the industry is moving toward digital management and cloud-based applications, there is a looming threat of data breaches and hacking incidents
• The industry may also witness a rise in the number of small companies and start-ups that address the niche markets and provide customized solutions while being susceptible to acquisitions and mergers of smaller firms as well as the entry of technology giants to capitalize on the market opportunities

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