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The talent acquisition management software market size is forecast to increase by USD 2.59 billion, at a CAGR of 10.31% between 2023 and 2028. The growth rate of the market depends on several factors, including the rapid shift toward web-based applications and digitization, the demand for streamlining the hiring process, and the rising product launches and strategic alliances among market participants.
The market growth and forecasting report includes key player's detailed analyses of the competitive landscape of the market and information about 15 market companies, including Avalture Ltd., Be Applied Ltd., BETTERPLACE SAFETY SOLUTIONS Pvt. Ltd., Cegid SA, Cornerstone, Eightfold AI, Employ Inc., iCIMS Inc., iMocha, International Business Machines Corp., Koch Industries Inc., Manatal, Marsh and McLennan Companies Inc., Oracle Corp., Paycom Software Inc., Recruitee.com, Sage Group Plc, Sanka, SAP SE, Workday Inc., Yello, YVI, and SmartRecruiters Inc. Additionally, Automatic Data Processing Inc offers talent acquisition management software namely ADP Recruiting Management to simplify and optimize talent acquisition to better serve businesses.
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The rapid shift toward web-based applications and digitization is notably driving market. As several organizations embrace digital transformation initiatives and emphasize remote work arrangements, the demand for cloud-based talent acquisition management software solutions has increased. In addition, web-based talent acquisition management software offers various advantages, such as accessibility from any location with an internet connection, scalability to accommodate evolving business needs and seamless integration with other HR and business systems.
Moreover, this shift towards web-based applications enables organizations to streamline recruitment processes, improve collaboration among hiring teams, and enhance candidate experiences. In addition, the digitization of talent acquisition processes enables organizations to leverage data-driven insights and automation capabilities to optimize recruitment outcomes. Furthermore, with web-based talent acquisition management software, organizations can collect, analyze, and utilize vast amounts of recruitment data to gain valuable insights into hiring trends, candidate behaviors, and recruitment performance metrics. Hence, such factors are driving the market during the forecast period.
The growing use of social media as a real-time data source for talent acquisition management software is an emerging trend in the market. The use of social media is rising, due to the increasing penetration of the Internet globally. In addition, Internet users are opting for online platforms to sell their products and services or skills and talent to ensure a wide reach.
For example, job seekers can update their profiles on Internet-based job portals, such as LinkedIn Inc., Jobcase Inc., Indeed Inc., and Glassdoor Inc., where companies post jobs. In addition, currently, more than 600 million people use LinkedIn. Moreover, it is estimated that every month, more than 130 million posts are shared on this portal. Furthermore, the online job search market is growing rapidly with the proliferation of such portals. Thus, companies are using talent acquisition management software to find the best employees for their organization by integrating multiple online databases. Hence, such factors are driving the market growth during the forecast period.
The availability of open-source software is a major challenge hindering the market growth. The availability of open-source software presents a significant challenge to the market by providing cost-effective alternatives to proprietary solutions. In addition, open-source software, often developed and maintained by a community of contributors, provides organizations with access to free or low-cost recruitment and HR management tools.
Moreover, this accessibility lowers the barrier to entry for companies, particularly SMEs, who may opt for open-source solutions to fulfill their talent acquisition needs without incurring significant expenses. In addition, the flexibility and customizability of open-source software allow organizations to tailor the software to their specific requirements, further enhancing its appeal as an alternative to commercial talent acquisition management solutions. Hence, such factors are hindering the market during the forecast period.
The on-premises segment is estimated to witness significant growth during the forecast period. On-premises segment is mainly used by large organizations with a global presence to have more control and ownership over the performance of the software as well as the data generated and stored by the software. In addition, the security offered by on-premises talent acquisition management software is the major reason for its acceptance when compared with cloud-based software.
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The on-premises segment was the largest segment and was valued at USD 1.83 billion in 2018. Moreover, these organizations focus more on the functionality of the software rather than the price and also deal with critical business data. In addition, on-premises talent acquisition management software provides an optimum level of data security with physical access controls and security protocols. Furthermore, it removes the dependency on vendors and allows organizations to change different aspects of the system when required. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
The increasing application of talent acquisition management software across large enterprise segment will increase the market growth. In this segment, in order to effectively manage their large and diverse workforce, sophisticated talent acquisition management solutions are needed. In addition, big enterprises are expected to dominate the market. Moreover, International Business Machines Corp., Oracle Corp., SAP SE, and Cornerstone are a few large companies in the global market. Furthermore, to meet the complex needs of their enterprise clients, these market players provide a broad range of talent acquisition management solutions, from hiring and onboarding to performance management and career development. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
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North America is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio's analysts have provided extensive insight into the market forecast, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The market growth in the region is fuelled by the increasing acceptance of advanced technologies and the rapid digitalization of industries. In addition, the demand for this software is primarily generated by the IT services, healthcare, banking, and retail industries. Moreover, several companies in the global market, such as Oracle Corp., operate in North America. Furthermore, several market players, as well as large, small, and medium-sized enterprises, are either headquartered or have operations in the US. Hence, the enterprises of the country have a highly competitive workforce ecosystem, which will increase the adoption of talent acquisition management software. Hence, such factors are driving the market growth in North America during the forecast period.
The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Bamboo HR LLC: The company offers talent acquisition management software namely BambooHR which is designed to help organizations find, evaluate, hire, and onboard the right talent as seamlessly and quickly as possible, all while enabling a personal touch and creating great first impressions along the way.
Market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
The market is witnessing substantial growth, driven by factors such as the increasing integration of Information Technology (IT) solutions and talent management software in the recruitment process. Small and Medium Enterprises (SMEs) are adopting advanced talent acquisition tools to enhance their hiring processes. Organizations are leveraging Artificial Intelligence (AI), Internet of Things (IoT), and Machine Learning (ML) technologies to streamline and optimize talent acquisition. Key players in this market include CornerStone on Demand, IBM, Oracle, SAP, WorkDay, ADP, Ceridian, Jobvite, Lever, PeopleFluent, SilkRoad, Taleo, UltiPro, WorkForce, and Zenefits.
The market dynamics are influenced by global economic indicators, with data from organizations such as the International Labour Organization (ILO), the U.S. Bureau of Labor Statistics (BLS), and the U.K. Office for National Statistics (ONS) shaping strategic decisions. The adoption of advanced talent acquisition solutions is driven by the demand for efficient recruitment processes, especially in a competitive job market. The market is poised for continuous evolution as technology and innovative platforms reshape the landscape, ensuring organizations stay at the forefront of talent acquisition trends.
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Market Scope |
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Report Coverage |
Details |
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Page number |
170 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.31% |
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Market Growth 2024-2028 |
USD 2.59 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
9.37 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 32% |
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Key countries |
US, China, India, UK, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Automatic Data Processing Inc., Avalture Ltd., Bamboo HR LLC, Be Applied Ltd., BETTERPLACE SAFETY SOLUTIONS Pvt. Ltd., Cegid SA, Cornerstone, Eightfold AI, Employ Inc., iCIMS Inc., iMocha, International Business Machines Corp., Koch Industries Inc., Manatal, Marsh and McLennan Companies Inc., Oracle Corp., Paycom Software Inc., Recruitee.com, Sage Group Plc, Sanka, SAP SE, Workday Inc., Yello, YVI, and SmartRecruiters Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Deployment
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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