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Talent Management Software Market to Reach USD 25.42 Billion by 2032 | SNS Insider

Talent-Management-Software-Market

Talent-Management-Software-Market

The Talent Management Software Market is growing rapidly, driven by AI adoption, cloud solutions, and increasing workforce optimization needs

AUSTIN, TX, UNITED STATES, March 3, 2025 /EINPresswire.com/ -- The Talent Management Software Market, valued at USD 9.17 billion in 2023, is projected to reach USD 25.42 billion by 2032, growing at a 12.0% CAGR. The shift to cloud-based solutions and data analytics is revolutionizing workforce management, with AI/ML adoption increasing for talent measurement. More than 60% of organizations today utilize AI in hiring, and 90% of Fortune 500 companies use ATS. Organizations pursue comprehensive platforms for talent optimization. Of particular interest, IBM Consulting, along with ServiceNow, unveiled a solution that brought IBM's HR acumen together with Talent Frameworks taxonomy of skills to support rapid, skill-based workforce development. Digitalization is still a prime market growth driver.

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Keyplayers:
Workday, Inc., IBM Corp., Oracle Corp., Peoplefluent, Inc., BambooHR LLC, CornerStone OnDemand Inc., SAP SE, Haufe Group, Lumesse AS, DelTek Inc., Applied Training Systems, Inc., Saba Software Inc., Halogen Software Inc.

By Solution, Employee Lifecycle Management Leads with 30% Market Share Amid Rising Focus on Retention
Employee lifecycle management was the market leader in 2023 with more than 30% share due to rising efforts to improve engagement and retention. According to a U.S. report, more than 45% of employees as of May 2024 are looking for new employment opportunities. To meet this, businesses are promoting inclusive work cultures, providing hybrid work arrangements, and rewarding employee efforts. Interestingly, the four-day workweek is also becoming popular in the U.S., after being embraced in nations such as Australia, Austria, and Canada, boosting employer image and employee satisfaction.

By Deployment, Rising Adoption of Cloud-Based Solutions Streamlines Recruitment, Cutting Hiring Time by 50%
Companies are increasingly adopting cloud-based solutions to streamline recruitment, from job postings to candidate selection and interview scheduling. These advanced platforms help businesses efficiently sort applicants based on required skills, significantly reducing manual effort. By leveraging automation, organizations can cut hiring time by nearly 50%, improving workforce planning and operational efficiency. As companies focus on speed and precision in hiring, cloud-based technologies are increasingly becoming imperative in streamlining the hiring process and getting the right person at the right position.

By Organization Size, Large Enterprises Lead Talent Management Software Market with Advanced Workforce Solutions
Large enterprises dominate the Talent Management Software (TMS) market due to their requirement for high-end HR solutions to manage large workforces. These companies greatly invest in AI-driven recruitment, workforce analysis, and employee engagement tools to automate hiring and retention. Cloud-based TMS adoption is speeding up as organizations look for automation in talent acquisition, onboarding, and performance management. Having high budgets and complicated HR frameworks, large businesses focus on integrated products to increase workforce productivity, resulting in them being the main drivers of market growth.

By Application, IT & Telecommunication Sector Drives Talent Management Software Adoption for Workforce Optimization
The IT & Telecommunication segment dominated the TMS market, driven by its greater employee turnover and requirement of skilled professionals. All businesses within this sector depend on AI-powered platforms to automate hiring, talent analytics, and workforce planning. As digitalization gains pace, IT companies focus on cloud-based TMS to drive remote teams, upskill employees, and enhance retention. As competition for best talent grows, IT businesses consistently advance their HR technology strategies, further establishing themselves as leaders in the talent management market.

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North America Dominates Talent Management Market with Over 35% Share, Asia-Pacific Poised for Rapid Growth
North America dominated the market, with more than 35% share over the forecast period. The region is a mature market for talent management, core HR, and recruitment technologies due to robust enterprise adoption. Organizations in North America focus on automation, AI-powered hiring, and employee engagement solutions, driving market growth. Companies have a mature HR tech ecosystem, and businesses keep investing in digital transformation, supporting North America's dominance in workforce optimization and organizational management solutions.

Asia-Pacific is expected to grow at the fastest CAGR in the market with organizations embracing emerging technologies. An increase in the demand for digital HR solutions in developed economies fuels market growth. Japan and India are cropping up as major markets, specifically among SMEs embracing workforce management tools. On the other hand, large enterprises in IT & telecom, BFSI, manufacturing, and education industries are likely to invest heavily, further driving the adoption of sophisticated talent management platforms in the region.

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SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

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