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Talent Management Software Market size is set to grow by USD 10.69 billion from 2024-2028, Benefits associated with talent management software boost the market, Technavio

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NEW YORK, July 19, 2024 /PRNewswire/ — The global talent management software market size is estimated to grow by USD 10.69 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about 11.8%  during the forecast period. Benefits associated with talent management software is driving market growth, with a trend towards rise in mobile-based talent management software. However, data privacy and security issues associated with cloud-based products and services  poses a challenge. Key market players include Accenture Plc, Automatic Data Processing Inc., Avalture Ltd., Bambee Inc., Bamboo HR LLC, Bullhorn Inc., Cegid SA, Ceipal Corp., Cornerstone OnDemand Inc., HireRoad, iCIMS Inc., International Business Machines Corp., Koch Industries Inc., Learning Technologies Group Plc, Oracle Corp., SAP SE, Skillsoft Corp., Talent Guard Inc., UKG Inc., and Workday Inc..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Talent Management Software Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 11.8%

Market growth 2024-2028

USD 10691 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

10.67

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

APAC at 33%

Key countries

US, Germany, India, UK, and Japan

Key companies profiled

Accenture Plc, Automatic Data Processing Inc., Avalture Ltd., Bambee Inc., Bamboo HR LLC, Bullhorn Inc., Cegid SA, Ceipal Corp., Cornerstone OnDemand Inc., HireRoad, iCIMS Inc., International Business Machines Corp., Koch Industries Inc., Learning Technologies Group Plc, Oracle Corp., SAP SE, Skillsoft Corp., Talent Guard Inc., UKG Inc., and Workday Inc.

Market Driver

The Talent Management Software Market is experiencing significant growth due to the increasing use of mobile devices in various sectors, including HR. Mobile apps offer advantages such as real-time data access, ease of use, and on-the-go communication. In HR, mobile-based solutions simplify processes like video interviews, applicant tracking, and appraisal reviews. HR managers can easily push job-related information and collect responses using mobile talent management software. Vendors like PeopleFluent Inc. Provide mobile apps for managing talent in real time, enhancing employer branding, and boosting organizational productivity. 

The Talent Management Software market is experiencing significant growth with various companies implementing technology to manage and develop their workforce. IT and telecommunication industries are major adopters of these solutions, focusing on securing talent and maintaining a skilled workforce. Secure and cloud-based systems are popular choices, offering flexibility and accessibility. The use of artificial intelligence and machine learning technologies is a trend, enabling automated recruitment and talent assessment. Performance management, skills development, and succession planning are key functionalities. Consolidated and user-friendly platforms are preferred, allowing for easy integration with other HR systems. The market is competitive, with providers offering advanced features to attract clients. The web-based software allows for remote access, making it an essential tool for organizations during the current situation. 

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Market Challenges

The Talent Management Software Market is experiencing significant growth, with many organizations adopting cloud-based solutions due to their affordability, scalability, and ease of use. However, concerns regarding data security and privacy persist. In cloud architecture, data is hosted by third-party providers, increasing the risk of unauthorized access and potential data breaches. Additionally, outsourcing IT functions to reduce costs can result in a loss of control over data handling, further increasing security risks. These concerns may hinder the market’s expansion during the forecast period.The Talent Management Software market faces several challenges in implementing and optimizing solutions. These include integrating various systems for a unified approach, ensuring data security and privacy, and adapting to the constantly evolving technology landscape. Additionally, there is a need for customization to cater to specific industry requirements and employee needs. Another challenge is the implementation of AI and machine learning capabilities to enhance recruitment and performance management processes. Lastly, ensuring user-friendliness and ease of use for all levels of employees is crucial for successful adoption.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This talent management software market report extensively covers market segmentation by  

Deployment 1.1 Cloud-based1.2 On-premiseBusiness Segment2.1 Large enterprise2.2 Small and mediumGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Cloud-based-  The global talent management software market is experiencing a technological shift towards cloud-based solutions. This segment holds the largest market share and is expected to continue dominating due to business digitization and expanding IT and retail companies. SMEs, particularly price-sensitive, favor cloud-based software. Security innovations will boost large organization adoption. Oracle reports a 6% annual increase in cloud-based usage. Benefits include real-time analytics, regular updates, global access, and scalability. Skanska AB is among those modernizing HR with Oracle’s HCM Cloud. The cloud-based segment’s growth is driven by SMEs and enterprises seeking cost-effective, flexible systems.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global Human Capital Management (HCM) Solutions Market is experiencing robust growth, driven by increasing demand for streamlined workforce management and efficient HR operations. Companies are adopting HCM solutions to enhance employee engagement, improve productivity, and ensure compliance with evolving regulatory standards. Key players are innovating with cloud-based platforms, AI-driven analytics, and integrated talent management systems to meet diverse organizational needs. As businesses prioritize digital transformation, the HCM market continues to expand, offering scalable solutions that empower HR departments worldwide.

Research Analysis

The Talent Management Software Market encompasses a range of AI-driven solutions and services designed to help large enterprises identify, retain, and develop their workforce. These cloud-based, SaaS HR products offer performance management capabilities, including planning, automation, and performance improvement planning. Machine learning algorithms are utilized for tasks such as resume screening and succession planning. Data analytics is integral to these tools, providing insights for compensation management, learning and development, and recruitment management. Solutions also include support and maintenance, ensuring the continued functionality and security of the software. Data security is a top priority, with these web-based applications employing robust encryption and access control measures. Software solutions in this market aim to streamline talent management processes, ultimately leading to a more effective and productive workforce.

Market Research Overview

The Talent Management Software market refers to the industry that provides software solutions for managing and developing an organization’s human capital. These solutions enable companies to streamline recruitment, onboarding, performance evaluation, learning and development, succession planning, and compensation processes. The use of technology in talent management helps organizations to optimize their workforce, improve employee engagement, and enhance productivity. The market for such software is growing rapidly due to the increasing demand for efficient and data-driven HR processes. Features such as cloud-based deployment, mobile access, and integration with other business systems are driving the adoption of talent management software. The market caters to various industries, including healthcare, finance, retail, and education, among others.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

DeploymentCloud-basedOn-premiseBusiness SegmentLarge EnterpriseSmall And MediumGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Dr. Gerard van Belle Appointed Director of Science at Lowell Observatory, Charting a Bold Future for Research

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Dr. van Belle to guide scientific exploration and foster innovation in the next era of astronomical research

FLAGSTAFF, Ariz., Jan. 10, 2025 /PRNewswire/ — Lowell Observatory is pleased to announce the appointment of Dr. Gerard van Belle as the new Director of Science. Van Belle, who has been an astronomer at the observatory since 2011, has been serving as the interim Director of Science.

In his new role, van Belle will lead a diverse team of astronomers and planetary scientists. He will spearhead the observatory’s new Science Vision, which focuses on advancing research capabilities and implementing cutting-edge technological improvements supporting Lowell’s leadership in astronomical research.

Under his leadership, the science department will continue to advance Lowell Observatory’s mission to pursue the study of astronomy, including the study of our solar system and its evolution, and to conduct pure research in astrophysical phenomena.

Van Belle’s own research focuses on fundamental stellar parameters, including the sizes, shapes, masses, distances, and temperatures of various types of stars. He is also renowned for his expertise in optical and near-infrared astronomical interferometry.

He earned his bachelor’s degree in physics from Whitman College in 1990, followed by a master’s degree from The Johns Hopkins University in 1993, and a Ph.D. in physics from the University of Wyoming in 1996.

Throughout his career, van Belle has been instrumental in the development and commissioning of major optical interferometers worldwide, including the Palomar Testbed Interferometer, the Keck Interferometer, and the Very Large Telescope Interferometer. His pioneering work in stellar surface imaging earned him the inaugural Edward Stone Award for Outstanding Research Publication at NASA’s Jet Propulsion Laboratory in 2002.

In 2011, van Belle joined Lowell Observatory’s science staff, where he applied high-resolution astronomical techniques to detect nearby exoplanets and map stellar surfaces. He served as the Director of the Navy Precision Optical Interferometer (NPOI) in Flagstaff, Arizona, from 2017 to 2018, and subsequently as its Chief Scientist until 2022.

Notably, van Belle was among the astronomers who voted against the definition of ‘planet’ advanced during the 2006 International Astronomical Union (IAU) conference in Prague, which relegated Pluto to being a ‘dwarf planet’ (which according to the IAU resolution is not a planet).

His extensive experience and dedication to advancing astronomical research make him a valuable leader for Lowell Observatory’s scientific endeavors.

“I am honored to take on this role at such a pivotal time for Lowell Observatory,” said van Belle. “Our Science Vision will guide us in exploring new frontiers in astronomy while strengthening our commitment to public engagement and education.”

Executive Director Dr. Amanda Bosh expressed her confidence in van Belle’s leadership: “Gerard’s extensive experience and dedication to our mission make him the ideal person to lead our scientific endeavors. I look forward to working closely with him as we embark on this exciting new chapter for Lowell Observatory.”

For more information about Lowell Observatory’s research and public programs, visit lowell.edu.

About Lowell Observatory
Founded in 1894, Lowell Observatory in Flagstaff, Arizona, is a renowned nonprofit research institution. It is the site of historic and groundbreaking discoveries, including the first evidence of the expanding universe and the discovery of Pluto. Today, Lowell’s astronomers utilize global ground-based and space telescopes, along with NASA spacecraft, for diverse astronomical and planetary science research. The observatory hosts more than 100,000 visitors annually for educational tours, presentations, and telescope viewing through a suite of world-class public telescopes.

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SOURCE Lowell Observatory

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ALTICE USA IS ABANDONING LOCAL SPORTS FANS AND IS KEEPING MSG NETWORKS AND ITS KNICKS, RANGERS, ISLANDERS AND DEVILS COVERAGE OFF THE AIR

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NEW YORK, Jan. 10, 2025 /PRNewswire/ — MSG Networks released the following statement about their dispute with Altice USA:

“Altice USA has pulled their last proposal and walked away from negotiations to bring MSG Networks back to its Optimum subscribers. They also just dropped WPIX Channel 11 in New York and other local stations around the country. If you have been waiting, like we have, for them to do right by their customers – don’t wait any longer. Now is the time to switch to Verizon Fios who has a special offer for Optimum subscribers. Meanwhile, Optimum has been charging their over 1 million customers for local sports programming they have not been receiving and EVERY subscriber should be credited at least $10 a month.

Verizon Fios is ready to take your business. If you are not in Verizon Fios area, you can get games through these other providers DirecTV, DirecTV Stream, Fubo and The Gotham Sports App. For more options on how to switch providers, visit www.keepMSG.com.”

About MSG Networks

MSG Networks, a pioneer in sports media, owns and operates two award-winning regional sports and entertainment networks (MSG and MSG Sportsnet) and MSG+, a direct-to-consumer and authenticated streaming offering (included in the Gotham Sports App), that serve the nation’s number one media market, the New York DMA, as well as other portions of New York, New Jersey, Connecticut and Pennsylvania. The networks feature a wide range of compelling sports content, including exclusive live local games and other programming of the New York Knicks, New York Rangers, New York Islanders, New Jersey Devils and Buffalo Sabres, as well as significant coverage of the New York Giants and Buffalo Bills. This content, in addition to a diverse array of other sporting events and critically acclaimed original programming, has established MSG Networks as the gold standard in regional sports. MSG Networks is part of the Sphere Entertainment Co. (NYSE: SPHR).

Contact:

Dan Schoenberg (dan.schoenberg@msg.com)

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SOURCE Sphere Entertainment Co.

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Infor Nexus Unveils NexTrace, its End-to-End Traceability Solution at NRF 2025

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Leveraging AI technology and a supplier-centric philosophy, the solution simplifies the data collection process, helping to promote accuracy and compliance

NEW YORK, Jan. 10, 2025 /PRNewswire/ — Infor Nexus™ , the single-instance supply chain network platform providing unparalleled visibility and collaboration, today announced NexTrace. This innovative solution is designed to improve customer transparency and provide a competitive advantage. With the EU Digital Product Passport (DPP) set to take effect in 2027, companies need to start preparing now by implementing traceability solutions. NexTrace can give customers a head start to meet regulatory requirements like the EU DPP and the Corporate Sustainability Due Diligence Directive (CSDDD). 

NexTrace provides end-to-end transparency by seamlessly tracking raw material through to finished products and beyond, ensuring full traceability throughout the entire supply chain journey. It integrates supplier ESG data and certificates for a holistic view of sustainability and compliance information. Leveraging AI technology and a supplier-centric philosophy, NexTrace simplifies the data collection process, ensuring accuracy and compliance.

“Last June, we launched Map and Trace, which empowers our customers to map their supply chains and collect documentation from multiple supplier tiers. Map and Trace provides evidence of chain of custody compliance with regulations such as the US UFLPA and the French AGEC law. With NexTrace, we’re taking this to the next level by proactively gathering full-scale item-level traceability from each tier of the supply chain. This will help our customers to not only meet upcoming regulations like the EU Digital Product Passport but also gain a competitive edge by providing comprehensive data on their products’ journey, composition, and sustainability,” said Brian Carelli, Infor VP, Sustainability and Partnerships. 

Meeting regulatory and consumer demands for product traceability requires collaboration across supply chain tiers. By connecting to Infor Nexus, companies gain a head start, leveraging an established ecosystem of over 94,000 brands, retailers, and suppliers already on the platform. Managing traceability and chain-of-custody data alongside existing supply chain processes on a unified platform accelerates progress, boosts efficiency, and reduces reliance on multiple systems. 

NexTrace Capability Highlights: 

Enables seamless lot and item-level tracing by tracking the movement of raw material lots and batches through their conversion into finished products Leverages AI to collect data from the multiple tiers of suppliers, while automatically associating transactions from one tier to the next, helping to reduce the burden on suppliers and increase data accuracy and tracing efficiency Allows suppliers to upload data from existing reports in one easy step, rather than necessitating manual data entry RFID scanning of serialized barcodes at source automatically links the multi-tier chain of custody data Integrates supplier ESG data and certificates with traceability information, providing a comprehensive view of sustainability and compliance throughout the supply chain Creates a digital link and visualization to share traceability and product information with consumers, enhancing transparency and trust throughout the supply chain Tracing data automatically updates the network graph creating linkages between products and materials providing a higher fidelity map of your supply chain network 

“Vendors will be eager to tout their Digital Product Passport solutions at NRF, but their focus is often on flashy features, rather than the minutiae of how to feed such data-hungry systems. At NRF, we look forward to demonstrating how trace data is built and how to scale a system of this magnitude,” said Carelli. 

To learn more about building a more responsible supply chain, visit https://www.infor.com/solutions/scm/infor-nexus/sustainability

About Infor Nexus 

Infor Nexus™ is the leading global supply chain platform. Infor Nexus connects a network of over 94,000 brands, retailers, manufacturers, suppliers, logistics providers and banks on single-instance network platform to seamlessly orchestrate global supply chain processes from source through to delivery and payment. Companies streamline their operations to eliminate inefficiencies and waste while gaining data-driven insights and optimizing the flow of capital for improved agility, resilience, and sustainability. Visit www.infor.com/solutions/scm/infor-nexus

Media Contact: 
Alexandria Truby 
Senior Public Relations Specialist, Infor 
Alexandria.Truby@infor.com

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SOURCE Infor

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