According to 360iResearch, the global talent management market to grow from USD 6.46 billion in 2016 to USD 17.57 billion by 2023, at a CAGR of 15.37%. The year 2016 has been considered as the base year, while the forecast period is up-to 2023.
Talent management software refers to the wide array of integrated applications that human resource management (HR) professionals use for recruitment, performance management, training and development, and compensation management of employees. Talent management software plays a very important role in keeping track of individual employee from the date of hiring to the complete employee lifecycle in the organization. The talent management software has facilitated HR professionals to play a pivotal role in employee engagement and retention. HR professionals can pull all the data and run analytics to optimize employee engagement strategies and bring more value to the company.
The major forces driving the growth of the talent management market include the better professional development decisions and improved onboarding experience. Moreover, high performing workforce and commitment to align business strategy are also some of the factors that are driving the market growth. However lack of awareness, and budget constraints may hinder the market growth. In the middle of difficulty lies opportunity such as the unified integrated system for performance assessments, and need for big data analytics and cloud-based talent management system. The possible challenges for the market growth are a holistic talent management approach with involvement of top management, and lack of skilled talent. But key players in the market are overcoming the challenges with continual improvement and innovation.
Based on industry, the global talent management market is studied across aerospace and defense, banking, financial services and insurance, consumer goods and retail, education, energy and utilities, government, healthcare and life sciences, information technology, manufacturing, media and entertainment, telecommunication, transportation and logistics, and travel and hospitality. Based on geography, the global talent management market is studied across Americas, Europe, Middle East and Africa, and Asia-Pacific.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of talent management market. Moreover, the study highlights current market trends and provides forecast. We also have highlighted future trends in the talent management market that will impact the demand during the forecast period. Moreover, the competitive analysis of talent management market brings an insight on the product usability profiles of the leading players. Additionally, the analysis highlights features and pricing, informant reviews of the key products in the market.
Reasons to Buy:
The talent management market research study reveals hidden insights and dynamic, which in turn helps the players in the ecosystem take better strategic decisions. The firms looking for purchasing the global talent management market research report could look for following prospects on their way to better understand the market that can aid further decision making and possibly identify the best opportunities to exploit.
- Evaluate the qualitative and quantitative aspects of the report and analyze the talent management market penetration with respect to industries and geographies.
- Evaluate the key vendors in the talent management market in terms of products satisfaction and business strategy. This helps identify consumer preferences and understand its current position in 360iResearch FPNV Positioning Matrix.
- Evaluates the key vendors and deeply analyze competitive landscape, revenue pockets, market trends, growth prospects, pain points, drivers, restraints, challenges and opportunities of the talent management market.
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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