Talent Management Software Market Report

Talent Management Software Market Analysis By Solution, By Deployment (Cloud, On-premise), By Application (BFSI, Retail, IT and Telecom, Healthcare, Education, Others), By Region, And Segment Forecasts, 2015 - 2025

Published: December 2016  |  90 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-330-0

Industry insights

The global talent management software market size was valued at USD 6.26 billion in 2015 and is expected to witness a significant growth owing to its growing application scope in almost all the human capital-centric industries. The industry is undergoing a facelift with many new technologies disrupting the workforce management in organizations, of which cloud and data analytics are the most prominent ones.

A rapid shift toward web-based applications and digitization is the major driver for the increased demand for software solutions, whereas the rate at which different industries are adopting talent management tools and solutions is further anticipated to result in the influx of new and enhanced tools in the marketplace.

Talent management software market by deployment, 2014 - 2024 (USD Million)

Talent management software market

The industry is expanding at a rapid rate owing to many reasons including extensive research and development activities, an optimistic investment landscape, and the increasing interest of large technological companies in the industry developments.

The demand for various products is also a vital factor in shaping the future trends as some companies are looking for standalone capabilities, such as performance management or recruitment management, whereas large organizations are in search of solutions that offer all the necessary functionalities under one integrated offering.

Solutions Insights

The industry, through its diverse solutions, has created a mosaic of offerings and products, which can be segregated into recruitment management, compensation management, employee lifecycle management, learning and training management, and performance management. Of these, the employee lifecycle management has the largest share in the market, which can be attributed to an increasing shift toward employee engagement and not just mapping but also retaining their work.

Compensation management is expected to exhibit the highest growth followed by the learning and training management segment. Compensation management has witnessed some radical changes in the recent years with employee participation and data analysis coming to the forefront, which is driving the demand for these solutions.

Deployment Insights

Talent management software solutions are deployed either by on-premise or through the cloud infrastructure. The increasing popularity of cloud-based services is driving the growth of the segment as it offers many additional benefits such as on-demand services, flexibility, and agility of the solutions. Though the on-premise segment dominates the market today, the coming years are expected to witness an even greater number of organizations opting for cloud-based solutions and services.

Application Insights

The market has been witnessing an influx of numerous solutions in the recent years, which can be attributed to the increasing demand from a diverse set of industries. The IT and telecom sector held the largest market share in 2015 but is expected to be overtaken by the banking, financial, and insurance sector by 2025.

The demand for solutions in the BFSI segment is driven by the changing dynamics of employee relations and the growing dependence on digitization for management in the domain. The healthcare segment has been witnessing an increase in the demand for acquiring and retaining skilled manpower, which is anticipated to aid in the growth of human capital management tools in the segment. The segment is expected to exhibit a growth rate of 16.6% over the forecast period.

U.S. talent management software market by solution, 2015 (USD Million)

U.S. Talent management software market

Regional Insights

The North American region has the largest share in the market, owing to a greater technological adoption as well as the availability of technical know-how about the industry. The region is anticipated to maintain its dominant position over the forecast period.

The Asia Pacific region is predicted to witness a rather high growth rate in the coming years due to the region’s propensity to adopt new and upcoming technologies. Also, a radical shift in the very fabric of organizational management in the region is driving the demand in the developing countries.

Competitive Insights

The industry is fragmented in nature with the presence of large as well as small companies offering a varied range of products. While some companies offer integrated solutions in the business, others cater to a niche market or provide specific functionalities as products or services. The major players include IBM Corp., Oracle Corp., SAP SE, Peoplefluent, Inc., CornerStone OnDemand Inc., Haufe Group, Lumesse AS, DelTek Inc., Saba Software Inc., and Halogen Software Inc.

 

Attribute

Details

Base year for estimation

2015

Actual estimates/Historic data

2015

Forecast period

2016 - 2025

Market representation

Revenue in USD Million & CAGR from 2016 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, MEA

Country scope

U.S., Canada, UK, Germany, Japan, China, India and Brazil

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors. and trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2015 to 2024. For the purpose of this study, Grand View Research has segmented the global talent management software market on the basis of type, application, and region:

  • Solution outlook (Revenue, USD Million; 2014 - 2025)
    • Recruiting Management

    • Compensation Management

    • Employee Lifecycle Management

    • Learning and Training Management

    • Performance Management

  • Deployment outlook (Revenue, USD Million; 2014 - 2025)
    • On-Premise

    • Cloud

  • Application outlook (Revenue, USD Million; 2014 - 2025)
    • BFSI

    • Retail

    • IT & Telecom

    • Healthcare

    • Government

    • Education

    • Others

  • Regional outlook (Revenue, USD Million; 2014 - 2025)
    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • UK

    • Asia Pacific

      • China

      • India

      • Japan

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa (MEA)

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