Talent Management Software Market Size - By Solution (Recruiting Management, Compensation Management, Employee Lifecycle Management, Learning and Training Management, Performance Management), Deployment Model, Enterprise Size, End-User & Forecast, 2023 – 2032
Published Date: April - 2025 | Publisher: MRA | No of Pages: 240 | Industry: Media and IT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationTalent Management Software Market Size
Talent Management Software Market size was USD 10.1 billion in 2022 and is expected to achieve a CAGR of 12% during the forecast period from 2023 to 2032. The transformation to remote work and the growth of distributed teams have brought about a demand for talent management solutions that would be able to manage and engage employees at different locations, thus fueling market growth. Based on Upwork, approximately 32% of the Americans would be working remotely in 2025, and that is equivalent to around 32.6 million workforces. This prediction presents an ongoing, but steady, transition toward remote work arrangements.
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AI and Analytics integration into talent management software to facilitate predictive modeling, pattern identification, and optimization of recruitment and performance evaluation processes is having a positive impact on the market landscape of talent management software. To that effect, in January 2023, Workday revealed that it was merging its AI-driven talent intelligence platform, Workday Prism Analytics, with its talent management software. This will enable companies to leverage AI to automate processes, enhance decision-making, and provide insights into their workforce.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Talent Management Software Market Size in 2022 | USD 10.1 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 12% |
| 2032 Value Projection | USD 30.8 Billion |
| Historical Data for | 2018 – 2022 |
| No. of Pages | 220 |
| Tables, Charts & Figures | 326 |
| Segments covered | Solution, Deployment Model, Enterprise Size, End-user |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
Nevertheless, talent management software implementation and integration within an organization is a complicated process. It usually entails data migration from the current systems, setting up the software to match the organization's processes, and employee training. Complexity may lead to higher implementation times, costs, and disruptions to current operations, causing slow market growth.
COVID-19 Impact
The COVID-19 pandemic had a great influence on the talent management software market. As companies transitioned to remote working and online operations, the need for software to manage remote employees, monitor performance, and provide virtual collaboration accelerated. This has spurred greater talent management solution adoption, with attention on remote onboarding, talent development, and performance management features. The pandemic hastened the demand for adaptable, cloud-based platforms that could facilitate talent management in the rapidly evolving working environment, reframing the state of HR technology.
Talent Management Software Market Trends
Global firms required software that supported multiple languages, currencies, and compliance rules for different regions, streamlining global talent management. Software vendors around the world have been concentrating on innovation through new functionality, user interfaces, and experiences, propelling adoption of newer and higher-end talent management tools.
For example, TalentGuard WorkforceGPT, introduced in March 2023, is a ground-breaking innovative product that enables organizations to revolutionize their approach to upskilling, reskilling, career pathing, succession planning, performance management, and more. The solution is built using a proprietary variant of the latest GPT model from OpenAI, fie-tuned with a decade's customer data and real-time labor market data.
Talent Management Software Deployment Model Market Share
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The on-premises sector captured more than 58% of the market share for talent management software in 2022, driven by the increasing priority on data protection and customization. Companies are craving more control of their HR activities and sensitive worker information, giving rise to an interest in on-premises solutions that promise greater security and adherence to data protection policies. In addition, the necessity for customized solutions to fit certain business workflows and the requirement to integrate software with existing systems smoothly are fueling the growing demand for on-premises deployment options.
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The IT & telecommunication segment held 21% of the talent management software market share in 2022 due to its capability to solve industry-specific issues. With rapid technological innovations happening in these sectors and skill sets changing quickly, the software's functionality in terms of assessing skills, monitoring performance, and training is extremely useful. The software facilitates streamlined recruitment with candidates possessing technical skills. It also supports remote working, which fits well with the sector's need for flexible working arrangements. This has contributed to greater use, boosting workforce adaptability and capacity to stay competitive with changing industry needs.
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The North America talent management software market commanded over 30% revenue share in 2022. The region's heterogeneous and competitive labor market demands efficient tools for talent acquisition, development, and retention. Tighter labor laws and the imperative of compliance with data privacy regulations compel strong software solutions. Moreover, the focus on evidence-based decision-making and the speedy integration of technology in HR activities also fuel the demand. As organizations focus on employee engagement and upskilling, talent management software becomes necessary to maximize workforce performance in this fast-paced business environment.
Talent Management Software Market Share
Major companies operating in the talent management software market are
- Cornerstone OnDemand (Saba Software, Inc.),
- Workday, Inc.
- Applied Training Systems, Inc
- (Trakstar), Talentsoft, BambooHR LLC
- Oracle Corporation
- SAP SE
- IBM Corporation.
These companies are majorly focus on launching new talent management software solutions for different end-users.
Talent Management Software Industry News
- In July 2022, SAP acquired Qualtrics to expand its talent management capabilities and provide customers with a more comprehensive view of employee engagement and performance.
- In June 2022, Oracle acquired Blue Prism to expand its automation capabilities and provide customers with a more seamless way to automate their talent management processes.
This talent management software market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments
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Market, By Solution
- Recruiting Management
- Compensation Management
- Employee lifecycle Management
- Learning and Training Management
- Performance Management
Market, By Deployment Model
- On-Premises
- Cloud
Market, By Enterprise Size
- SMEs
- Large enterprises
Market, By End-User
- BFSI
- Healthcare
- Government
- IT & Telecommunication
- Education
- Manufacturing
- Others
The above information has been provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- South Africa
- UAE
- Saudi Arabia
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