Talent Management Software Market Worth $11,367 Million in 2019, According to New Report by MarketsandMarkets
(PRWEB) February 13, 2015 -- The market research report defines the growth trends and revenue forecasts for the Talent Management Software (TMS) Market. According to the report, the TMS market is set to witness growth at a steady CAGR. This growth is driven by growing demand and advancements in the emerging economies of the world.
Explore the "Talent Management Software (TMS) Market” report through detailed TOC, data tables and figures spread across 154 report pages at http://www.marketsandmarkets.com/Market-Reports/talent-management-software-market-58599319.html.
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The success of every organization depends on the performance levels and caliber of its employees. Hence, identification and management of a strong talent base from the recruitment pool becomes extremely crucial. According to this report, the advent of information technology and growth in the number of software solution providers are some of the essential factors that are creating the need for efficient management of the talent pool for HR personnel. Apart from management of the talent pool, these solutions also take care of other responsibilities including appraisal management, recruitment, performance and training.
According to the report, the Talent Management Software Market has evolved at a rapid rate in the past few years. Flexibility of services and customized solutions are some of the vital factors attracting more businesses towards the industry. According to this report, Talent Management Software has a high adoption rate across large enterprises as they have data support systems and adequate capital. The growth of cloud adoption in small and medium businesses is also expected to create adequate growth potential for this market. As per the report, the major challenges for this market include integration across various Talent Management Software platforms and a lack of awareness amongst the organizations. Preferred use of traditional methodologies is also acting as a hurdle for industry growth.
According to the report, the Talent Management Software market remains competitive with the entry of niche players. These players provide innovative, integrated software, thereby increasing their market bargain capability among large vendors.
MarketsandMarkets forecasts the global Talent Management Software market to grow at a healthy CAGR of 16.6% from 2014 to reach $11,367.0 million by 2019. In the current scenario, the report expects North America to be the largest market for these solutions.
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