The major factor driving the Talent Management Software market has been analyzed in this research report. Key players in the industry include Oracle, IBM, and Cornerstone on demand, Lumesse, Peoplefluent, Skill soft and others.
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The key players in Talent management software market include Oracle, IBM, Cornerstone on demand, Lumesse, Peoplefluent, Skill soft, Saba software, and many others MarketsandMarkets expects that BFSI, IT and telecom and retail vertical will account for the largest market share throughout the forecast period.
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However, there are a few revenue pockets, namely healthcare, government, education, manufacturing and media and entertainment that will witness significant growth in this period. There are various assumptions that have been taken into consideration for the market sizing and forecasting exercise.
Talent management software market is growing due to evolving trend such as social media, growing number and the cloud.
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SaaS HR products are on the rise, and talent management systems are leading the way.
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These trends are well-nurtured and implemented in the tool and are also incorporated in various mobile apps by collaborating with social media tools, thereby encouraging the overall adoption of TM software. Moreover, this market unfolds various opportunities such as partnerships and collaboration, mergers and acquisitions by the developed players for exploring new product lines.
The major drivers leading to the widespread adoption of talent management software market are creating a better process of internal talent mobility, growing cloud solution popularity, real time employee engagement and emergence of social platform.
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However, certain restraints such as integrating various TM software, lack of adequate knowledge of the product, and unawareness about the imperativeness and benefits associated with the software hinder its market growth. Thus, taking into account all these pointers, the TM software market is estimated to further grow substantially in the upcoming years.
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