The Global Skills Management Software market is estimated to be worth approximately US$ 328.5 million. With increasing investment in Skills Management Software by various organizations around the world, the market is expected to be worth around US$ 800 Mn by the end of 2032, with a projected CAGR of 8.2% between 2022 and 2032.
The need to organize the workforce in the most efficient way propels the Global Demand for Skills Management Software
Post-pandemic the need to organize the new workforce is one of the most important and difficult challenges faced by most organizations. Post-pandemic, nearly 69% of firms are focusing more on skills management than they did pre-pandemic. This increased the demand for Skills Management software in the market. The survey also says that since the end of 2019, more companies are increasing their investments in Skills Management Software. For most companies, the investment in skills management software is more than a one-time investment.
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Skills Management Software Market: Competition Insights
The key companies operating in the Skills Management Software Market are Softworks, AG5, Gloat, Skillnet, Retain, Kahuna, CABEM Technologies, Centranum, MuchSkills, Pluralsight, Visual Workforce, SkillsTX, TalentQuest, CompetencyCore, SkillStation, viSkills, EmployPlan, TalentGuard, iCombine, WebMentor Skills, Sympa, PickYourSkills,
Some of the recent developments by the key providers of Skills Management Software are as follows:
- In May 2022, AG5’s team raised US $ 1.4 Mn in their recent investment round from Tech Investor Peak. They plan on using the fund to develop their skill management software further and make it available worldwide.
- In May 2022, EmployPlan introduced EmployPlan 2.0, the most user-friendly multi-project resource planning platform available. EmployPlan reduced the amount of time-consuming administrative work required to handle resource management to a minimum by using a responsive modern user interface.
- In June 2021, Gloat secured US$ 57 Mn in funding, which it will use to continue business development as well as to add more features to its own platform. For instance, it will use this money to expand into more contractor openings, create more opportunities for secondments at other companies, and include front-line positions in addition to the knowledge worker roles that the AI is currently optimized for.
- In October 2021, Real-time skills gap analysis has become much simpler because of MuchSkills’ most recent release of skills and competency mapping software. The MuchSkills 3.1 upgrade makes it simple for teams and organizations to spot skill shortages that can have an impact on performance with the aid of intelligent filters and meaningful data visualizations. They can then utilize this information which includes the number of employees by skill and skill level to find chances for upskilling, reskilling, or hiring.
- In September 2021, Skillnet announced the expansion of their geographical territories with the launch of their Mexico Subsidiary. The company believes that it will help them expand their customer base as they can now serve customers in Mexico and Central and Southern America.
- In March 2021, Intelligent Role Studio (IRS), an Artificial Intelligence powered solution that combines deep subject matter expertise with algorithmic intelligence, was launched by TalentGuard.
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More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Skills Management Software Market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in the Skills Management Software Market in terms of Type (On-Premises and Cloud-Based); by Application (Large Companies and Small and Medium Sized Companies), across five regions (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).
Key Segments Covered In Skills Management Software Market Survey
Skills Management Software Market by Type:
- On Premises
- Cloud-Based
Skills Management Software Market by Application:
- Large Companies
- Small and Medium-Sized Companies
Skills Management Software Market by Region:
- North America
- Europe
- APAC
- MEA
- Latin America
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Skills Management Software Demand
3.1.2. COVID-19 Impact Benchmark with Previous Crisis
3.1.3. Impact on Market Value (US$ Mn)
3.1.4. Assessment by Key Countries
3.1.5. Assessment by Key Market Segments
3.1.6. Action Points and Recommendation for Suppliers
3.2. Key Trends Impacting the Market
3.3. Formulation and Application Development Trends
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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