SHERIDAN, WY, USA, July 19, 2022 /EINPresswire.com/ — According to IMARC Group’s latest report, titled “Talent Management Software (TMS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global talent management software (TMS) market reached a value of US$ 10.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 25.8 Billion by 2027, exhibiting a CAGR of 16.8% during 2022-2027.
Talent management software (TMS) represents the workforce management application that involves strategic hiring and employee development. It enables organizations to track their employees by identifying and closing skill gaps, setting goals, providing personalized development plans, facilitating appraisals, etc. Talent management software offers employers the tools to accurately manage, evaluate, and compensate based on employee performance. Consequently, it finds extensive applications in several industries, such as healthcare, banking, financial services and insurance (BFSI), information technology (IT), retail, manufacturing, etc., across the globe.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Request a Free PDF Sample of the Report: https://www.imarcgroup.com/talent-management-software-market/requestsample
The growing penetration of cloud-based platforms is primarily driving the talent management software (TMS) market. Additionally, the inflating need for replacing traditional methods to optimize the utilization of resources and improve the quality of hiring decisions is further catalyzing the market growth. Besides this, the escalating demand for software-as-a-service (SaaS) platforms to automate scouting, identify and acquire new talent from the talent pools, retain the existing talent, etc., and the widespread adoption of mobile-based personnel management systems are acting as significant growth-inducing factors. Moreover, TMS also streamlines the recruitment process, reinforces workforce culture, provides agile learning opportunities, etc., which is positively influencing the global market. Apart from this, numerous technological advancements, such as the introduction of machine learning (ML) and artificial intelligence (AI)-based systems that use optical trackers to monitor individuals and recognize patterns via transactional activities and analytical inputs, are anticipated to fuel the talent management software (TMS) market over the forecasted period.
Talent Management Software (TMS) Market 2022-2027 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:
• Cornerstone Ondemand Inc.
• International Business Machines Corporation
• Oracle Corporation
• SilkRoad Technology
• Skillsoft Corporation
• Talentguard Inc.
• Ultimate Software
• Workday Inc.
Key Market Segmentation:
The report has segmented the global talent management software market on the basis of component, deployment type, end user, vertical and region.
Breakup by Component:
• Workforce Planning
• Learning Management
• Compensation Management
• Talent Acquisition
• Performance Management
• Professional Services
• Training and Education
• Support and Maintenance
Breakup by Deployment Type:
Breakup by End User:
• Small and Medium Enterprises
• Large Enterprises
Breakup by Vertical:
• IT and Telecom
• Media and Entertainment
Breakup by Region:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=2316&flag=C
Key Highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
IMARC Services Private Limited
email us here