Albany, NY, April 20, 2016 (GLOBE NEWSWIRE) -- The report titled Global Talent Management Software Market: Trends and Opportunities (2016-2020) provides an in-depth analysis of the global talent management software market with detailed analysis of market sizing and growth, market share and economic impact of the industry. The report also provides market size of the human capital management market and talent management market along with their respective segments.
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global talent management software market has also been forecasted for the period 2016-2020, taking into consideration the previous growth patterns, the growth drivers and the current and future trends. The competition in the global talent management software market is stiff and dominated by the big players like SAP. Further, key players of the talent management software market such as Oracle, Cornerstone and Halogen are also profiled with their financial information and respective business strategies.
- Oracle Corporation
- Cornerstone OnDemand Inc.
- Halogen Software Inc.
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The global talent management software market is expected to have increased at a significant annual growth rate in 2015 as compared to the preceding year and projections are made that the market would rise in the next five years i.e. 2016-2020 tremendously. The upsurge in the market is due to various factors such as a rising trend of cloud-based TM softwares, adoption of Talent Management softwares by small and medium businesses along with the technological improvements in the industry. The global talent management software market players are highly fragmented from the large vendors to small and medium scale players. As the market expands, large companies replace standalone systems and mid-size companies buy smaller systems at a rapid rate.
The major growth drivers for the talent management software market are: upsurge in the e-learning market and Software-as-a-Service market, shortage of skilled workers, corporate insight to improve employment and engagement and need to streamline HR functions. Despite the market is governed by various growth drivers, there are certain challenges faced by the market such as: acquisition of talent management software vendors, barriers to entry and selection of right vendor.
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