USD 13.21 billion by 2028, exhibiting a CAGR of 9.4% during the forecast period. The market is driven by the rising popularity of mobile technologies worldwide, states Fortune Business Insights™ in a report titled, “Talent Management Software Market, 2021-2028,” the market value was USD 6.45 billion in 2020.
COVID-19 Impact
Company Layoffs to Reduce Product Demand amid Coronavirus Pandemic
Many companies were badly hit by the pandemic crisis, which resulted in layoffs and stop on hiring processes. This factor has severely impacted the adoption of talent management solutions during the COVID-19 pandemic. The HR departments have faced challenges related to maintaining optimum business operations and managing the health of the workforce. There were several difficulties concerning new guidelines to support employees to work from home, and enforce legal changes regarding payroll and sick pay. However, the adoption of digital technologies has significantly increased the need for t
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