According to IMARC Group’s latest report, titled “Talent Management Software Market Size, Share, Trends, Growth, Opportunity and Forecast 2021-2026”, the global talent management software market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 13% during 2021-2026.
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Talent management software (TMS) is designed to manage talent throughout the employment lifecycle. This process includes talent hiring, development throughout the tenure and rewards. Talent management is crucial for an organization’s workforce as it ensures maximum productivity from the hired personnel. There are five pillars of talent management, including recruitment, learning, performance management, compensation and succession planning. TMS focuses on the skillsets and adapts an employee-centric methodology for efficient goal accomplishment.
Market Trends and Drivers:
The global market is primarily driven by the widespread adoption of software-as-a-service (SaaS) by organizations across sectors. In line with this, the corporate sector is widely utilizing for identifying talent from the talent pool and retaining the existing talent within an organizational setup. Moreover, the rising need of performance management and global communication within an organization is further driving the demand for TMS. Other factors, including the rising requirement for improved employee productivity and satisfaction and escalating focus on effective decision-making in the hiring process, are the global talent management software market growth further.
Talent Management Software (TMS) Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the talent management software market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Key Market Segmentation:
The report has segmented the global talent management software market on the basis of region, component, deployment type, end user and vertical.
Breakup by Component:
Breakup by Deployment Type:
Breakup by End User:
Breakup by Vertical:
Breakup by Region:
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Key Highlights of the Report:
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