Latest News- Talent Management Software Market: Cloud-based is expected to lead the Deployment segment during 2025-2029

The Talent Management Software Market is being driven by Benefits associated with talent management software

The Talent Management Software Market is expected to grow at a CAGR of 13.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 13524.9 million. The adoption of mobile technology in businesses and various sectors is on the rise, driven by the widespread use of smartphones, particularly in emerging markets. Mobile applications offer a personalized user experience and are increasingly utilized for e-commerce, payments, food delivery, healthcare, and other purposes. In industries such as manufacturing and construction, where the use of personal computers (PCs) is limited, mobile devices provide significant advantages. Furthermore, there is a growing trend towards utilizing mobile devices for accessing job-related information. A multitude of HR-operational apps are currently available, catering to the needs of both recruiters and job seekers. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Deployment
  • Cloud-based
  • On-premises
• Business Segment
  • Large enterprises
  • Small and medium enterprises
• Solution
  • Performance management
  • Learning
  • Talent acquisition
  • Workforce planning
  • Compensation
• End-user
  • IT and telecommunication
  • BFSI
  • Government
  • Healthcare
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Benefits associated with talent management software
• Rise in adoption of cloud-based talent management software
• Demand for efficiency in talent management and recruiting

However, the market also witnesses some limitations, which are as follows:

• Data privacy and security issues associated with cloud-based products and services
• Lack of awareness and availability of open-source software
• System integration issues

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Market Scope in Talent Management Software Market Research Report

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Research Analysis Overview

The Talent Management Software Market encompasses solutions that facilitate 'talent marketplaces' for mobility, 'talent development' through learning and leadership programs, 'performance improvement' with analytics and dashboards, and 'employee productivity' enhancement. It includes 'skills inventory' management, 'talent sourcing' and 'talent mapping', 'employee referral programs', and 'job boards'. HR automation offers 'employee self-service', while 'talent strategy' and 'workforce planning' ensure 'employee empowerment' and 'employee engagement'. 'Employee engagement surveys' and 'employee feedback platforms' foster open communication. Compliance management, consulting, and trends in HR technology complete the landscape of this market, driving 'digital transformation' and 'talent acquisition' and 'retention strategies'.

Market Research Overview

The Talent Management Software Market is a segment of the larger IT application software industry. This market specifically caters to businesses seeking solutions for performance management, employee onboarding, talent acquisition, learning and development, and succession planning. According to Technavio, the global IT application software market encompasses companies that develop and produce software for specialized business applications, including enterprise and technical software, as well as cloud-based solutions. The market size is determined by the consolidated revenue generated by these companies. It is essential to note that this market excludes those engaged in the production of database management software, interactive home entertainment software, or systems software.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/