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Adoption of mobile-based personnel management systems, is one of the key factors driving the growth of Talent Management Software Market.

HYDERABAD, TELANGANA, INDIA, November 28, 2022 /EINPresswire.com/ -- Talent Management Software Market is analyzed to grow at a CAGR of 10.3% during the forecast 2021-2026 and reach $15.8 billion by 2026. Talent management software (TMS) covers a wide array of tasks related to the oversight of a workforce. With the increasing adoption of cloud-based services across BFSI and Enterprise sector, there has been significant growth in the demand of Talent Management software market during the forecast period. Increasing adoption of TMS for a wide range of applications ranging from recruiting employee to having an efficient career management software in an enterprise tend to drive its market growth across the globe. When assessing the talent management ecosystem, recruiting software is the first step that is used in acquiring qualified candidates and is useful in bolstering the company’s workforce. Further, it offers organizations to use video interviewing and pre-employment screening followed by on-boarding and career management. Moreover, with the outbreak of the Covid-19 pandemic which led to shut down of various enterprises has been adopting talent management software for recruiting applications which tends to boost its market growth during the forecast period. These features offered by Talent Management software is anticipated to bring major growth in its demand during the forecast period in the global market.

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Key Takeaways
1. Increasing demand of hiring process automation across the globe is analyzed to significantly drive the Global Vehicle Bumper Market during the forecast period 2021-2026.

2. Recruiting management is analysed to hold significant share in 2020 owing to its operational flexibility and efficiency which helps end-users in recruitment, hiring and on-boarding of new talents. These features tend to uplift its market growth during the forecast period.

3. Enterprises are expected to hold the highest market share in the forecast period among other end-use industries owing to the increasing enterprise applications for hiring, training, support and maintenance applications for the enterprise workforce.

4. North America is analysed to hold the highest share in 2020 owing to the increasing IT industry requirements and rising adoption of cloud-based services for recruiting applications.

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Segmental Analysis:
Talent Management Software Market Segment Analysis - By Solutions: By Solutions, the Talent Management Software Market Report is segmented into career management, recruiting management, compensation management, learning management, workforce planning, performance management, relocation management and Others. Recruiting management is analysed to hold highest share 22.5% in 2020 owing to the increasing demand of hiring process automation across various end-use industries. Recruiting management solutions help businesses facilitate their recruitment, hiring and on-boarding process of new talent. Recruiting management solutions offers various applications such as employee referral, job boards, job description management, pre-employment screening, talent acquisition, video interviewing, and many others. This wide range of applications tend to bring significant growth in its demand, further driving its market growth.

Talent Management Software Market Segment Analysis - By End-Use Industry: By End-Use Industry, the Talent Management Software Market Report is segmented into IT & Telecommunication, BFSI, Enterprise, Government Organizations, Media & Entertainment, Manufacturing, Retail, Healthcare, Education and Others. Enterprise segment is analysed to hold the highest share during the forecast period 2021-2026. Enterprise industry across the globe has been on-boarding large number of employees across various parts of the world. This increases the demand of a highly efficient hiring process automation for wide range of enterprise applications. For instance, according to World Bank Reports, in 2020, the major segment of employment professional across the globe is under services applications which was accounted 51% in 2020. This major percent in services sector further boost the demand of talent management software in managing this large number of employees across the globe, further driving its market growth.

Talent Management Software Market Segment Analysis – By Geography: North America is analysed to be the major region with a share of 35% in 2020 for the Talent Management Software Market owing to the increasing IT industry requirements and rising adoption of hiring automation services. The market in the U.S. is expected to experience greater traction as a significant number of organizations are likely to set-up for cloud services and adopt the software as a service (SaaS) platform across various industries to save their upfront cost in recruiting process and managing their workforce. According to World Bank Reports, in 2020, North America accounts for a huge 92.92% of total employees being in salaried services. This brings huge demand of Talent management software for workforce planning and performance management solutions during the forecast period. Moreover, with the rising expansion of growth in cloud computing, Big Data analytics and the development of Internet of Things (IoT) in North America region are the major factors that have brought significant growth in the demand Talent management software in the region.

Competitive landscape:

The top 5 players in the Talent Management Software industry are:

1. Halogen Software
2. IBM Corporation
3. Lumesse
4. Oracle Corporation
5. ADP Inc.

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