The talent management software market is evolving very rapidly, as small and medium scale organizations are looking to invest in the TMS, owing to the need to implement better employee performance management systems and the cost-efficient advantages of TMS. Various key vendors have launched novel products in the market that cater to this rising need. For instance, in the year 2017, IBM Corporation launched Kenexa solution that integrates the need of a smarter workforce like employee assessment and IO psychology with various solutions offered by the company. Another example is of the company named People Matters that launched a modular TMS in February 2012, which is focused mainly on the service industry.
The need of global communication for the workforce, integration with social media for the better management, and real-time workforce engagement will give an uplift to the TMS market in the near future. However, the cost of the TMS hardware and ever-changing talent management practices hamper the growth of global TMS industry.
Key industry players such as – Kenexa, SuccessFactors, Oracle Taleo, Cornerstone, Saba Cloud, PeopleFluent, People matter, Ultimate Pro, Lumesse ET Web, and Sum Total Systems
The talent management software market growth is segmented into four types based on platform type, organization size, industry vertical, and geography. The platform segment is further divided into solution and services. The solutions segment has various components such as human resource planning, talent acquisition, performance management, and learning management. The services segment is divided into support, training, and professional service. In terms of organization size, it is categorized into large and small & medium organizations. In terms of industry vertical, it is segmented into banking and financial services, & insurance (BFSI), IT and telecom, manufacturing, retailing, education, government, media & entertainment, and others which include power, automation, and transport. The market segmentation on the basis of geography includes North America, Europe, Asia-Pacific, and LAMEA.
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The market is analyzed based on regions and the competitive landscape in each region is mentioned. Regions discussed in the study include North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). These insights help to devise strategies and create new opportunities to achieve exceptional results.
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Key drivers that are propelling the growth of the market included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.
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