The talent management solutions market is undergoing significant traction globally. Some key drivers of talent management adoption across major markets in Asia-Pacific (APAC) include the increasing focus on talent management as a strategic priority and the need for processes. Cloud-based talent management solutions also provide greater flexibility and ease of management. Furthermore, lower capital expenditure involved is rapidly driving an uptake among small and medium enterprises.
In order to stand out from the myriad of solution providers within the markets, competent solution providers have to adopt a “customer-first” mentality, monitoring the unique needs and preferences of each market, and customizing offerings accordingly to best fit their customers’ circumstances. Key vendors in this space include a combination of conventional enterprise application solution providers, such as SAP and integrated talent solution providers such as SumTotal. Singapore, Australia, Malaysia and India are high focus markets for technology vendor providers, given the highly penetrated markets and increasing adoption.
Human Resources (HR) processes are witnessing a significant change; this is also driving vendors to redesign their functionalities. In parallel, emerging technology trends have the potential to drive greater innovation in the way human resources operations are carried out. Emerging trends within the market such as the adoption of mobile talent management solutions, use of Chatbots, and the push for data analytics have further catapulted the market to drive adoption in the region. In the future, there will be significant growth potential in emerging economies to drive the talent management solutions market in Asia-Pacific.
In conclusion, it is expected that there will be an increased focus of Digital Transformation of the HR processes across large and mid-sized enterprises in Asia-Pacific. Vendors will continue to transition from being point-solution providers to suppliers of integrated packaged solutions that can maximize value for employees, HR stakeholders, and leadership. While countries such as Singapore, Australia, Malaysia, Japan, and India will remain priority markets, smaller vendors will seek opportunities in markets such as Myanmar, Thailand, and Indonesia to explore emerging market opportunities.
Key Questions this Study Will Answer
• What are the key trends in the SaaS-based talent management solutions space in Asia-Pacific?
• What are the driving and restraining factors that will shape the future of SaaS in the talent management solutions market in Asia-Pacific?
• What is the competitive ecosystem and which companies are the key market participants?