The new market study offering a 360-degree overview of the K-12 talent management software market in the U.S.
Albany, NY -- (SBWIRE) -- 01/30/2017 -- The report discusses the prevalent market dynamics and how it would shape the future of the market in the U.S.
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As per the report, it is estimated that the K-12 talent management software market in the U.S. will expand at a scorching pace by clocking a robust CAGR of 14.57% from 2016 to 2020. The market study, titled "K-12 Talent Management Software Market in the US 2016-2020," finds that the rising emphasis on employee engagement is at the forefront of driving demand for the talent management software. This is because K-12 education segment holds a crucial position in the U.S. education market. K-12 institutions' pressing need to address talent management in real time to bring out the best in students is a major stimulant for the market.
An integrated suite of software applications for various human resource functions, the K-12 talent management software aids in recruiting suitable faculty, monitoring their performance effectively, smoothening the onboarding process by providing new hires with online training materials and existing ones with certification courses, and proper compensation management. All these boost efficiency and bring down attrition rates. As a result talent management software has been gaining prominence fast in educational institutes.
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One of the major challenges hampering demand for talent management software is the emergence of open-source platforms from where the software can be downloaded for free. A noticeable trend in the market is the popularity of cloud-based software solutions on account of their cost effectiveness. Organizations are also leveraging cloud infrastructure to protect data, build applications, and enable collaboration between delivery methods and online platforms. Having discussed the growth drivers and restraints and prominent market trends, the report goes on to segment the market based on applications and end users. It studies each segment in details to gauge its share in the market and its future prospects.
The K-12 talent management software market in the U.S. is marked by the presence of numerous regional vendors. In the years ahead, the competitive environment in the market is expected to heat up due to the proliferation of services and product extensions and the increased pace of deal making via mergers and acquisitions. The current competitive dynamics along with government support and development in the overall industry is expected to shape the market's growth trajectory in future.
The report uses market-leading analytical tools such as Porter's Five Forces to gauge the opportunities for leading players in the U.S. K-12 talent management software market. Some of the prominent names in the market that have been profiled in the report are Halogen Software, Cornerstone OnDemand, and PeopleAdmin.
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