Zion Market Research, the market research group announced the analysis report titled "Talent Management Software (TMS) Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024"
Sarasota, FL -- (SBWIRE) -- 09/21/2017 -- The process of training, recruiting, retaining, and developing organizational staff in order to reach their organizational goals is known as talent management. It is a continual process of developing existing talent within the organization. It includes learning & development, performance management, employee engagement, and competency development. It is all about business strategies to train, develop, recruit, and retain and is the part of strategic workforce planning. Talent management is related to all aspects such as working hours, salaries, contingencies for the success of the business, and so on. Transactional data are converted into predictive data for better understanding of the workforce. These understandings are useful for taking strategic decisions and run organizations effectively.
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Escalating demand for the market due to the adoption of talent management software by medium and small businesses enterprises is contributing to the growth of the global talent management software market across the world. The upsurge in the market is mainly due to increase trend of cloud-based TM software and adoption of improved technologies. The major growth factors of the talent management software market are hiring skilled employees, growth in e-learning, software service, and companies' focus to streamline HR functions.
The global talent management software market is categorized on the basis of organization size as small and medium business enterprise and large business enterprises. Based on the platform, the global market is categorized as solutions and services. The solution segment is further sub-segmented as compensation management, performance management, workforce planning, talent acquisition, learning management, and others. However, the service segment is further sub-segmented as training and education, support and maintenance, and professional services. Moreover, the global talent management software market is fragmented on the basis of verticals as manufacturing, banking, financial services, and insurance (BFSI), media & entertainment, IT & telecom, government, healthcare, education, retail, and others. Furthermore, the global talent management software market is segmented based on geographical regions as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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North America is expected to witness high growth in the global talent management software market owing to the high adoption of the talent management. However, exponential growth in Asia Pacific further improves the global market growth. Growing industrial network resulting in increased installation of the talent management software may fuel the global market in a positive way.
Key players in the global talent management software market are Cornerstone OnDemand Inc., Halogen Software Inc., and Oracle Corporation.
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