What is Global Skills Management Software Market?
The Global Skills Management Software Market is a rapidly expanding sector that focuses on the development and distribution of software designed to manage and enhance the skills of individuals within an organization. This software is used by businesses worldwide to identify skill gaps, provide targeted training, and track progress over time. The market is driven by the increasing need for businesses to stay competitive in the ever-evolving business landscape. As technology advances and industries evolve, the demand for specific skills changes. This software helps businesses stay ahead of the curve by ensuring their employees have the necessary skills to meet these changing demands. The market is also fueled by the growing recognition of the importance of continuous learning and development in the workplace. As such, the Global Skills Management Software Market is a critical component of modern business strategy.
Cloud-based, On-premises in the Global Skills Management Software Market:
The Global Skills Management Software Market is divided into two main segments: cloud-based and on-premises. Cloud-based skills management software is hosted on the vendor's server and can be accessed through the internet. This type of software is popular due to its scalability, flexibility, and cost-effectiveness. On the other hand, on-premises software is installed and run on the user's own servers. While this type of software requires a larger upfront investment, it offers greater control over data security and customization. Both types of software offer unique benefits and are chosen based on the specific needs and resources of the business. The choice between cloud-based and on-premises software is a critical decision that can significantly impact a business's ability to effectively manage and develop its employees' skills.
Large Enterprises, SMEs in the Global Skills Management Software Market:
The Global Skills Management Software Market is utilized by both large enterprises and SMEs (Small and Medium-sized Enterprises). Large enterprises often have a diverse and extensive workforce, making skills management a complex task. Skills management software helps these businesses identify skill gaps across the organization and provide targeted training. SMEs, on the other hand, may not have a dedicated HR department to manage skills development. For these businesses, skills management software can automate and streamline the process, saving time and resources. Regardless of the size of the business, skills management software is a valuable tool that can enhance productivity, improve employee satisfaction, and ultimately drive business success.
Global Skills Management Software Market Outlook:
Looking at the market outlook, the Global Skills Management Software Market has shown significant growth over the years. In 2023, the market was valued at US$ 328.5 million and is projected to reach US$ 676.8 million by 2030. This growth represents a Compound Annual Growth Rate (CAGR) of 10.8% during the forecast period from 2024 to 2030. The market is dominated by several key players, with Pluralsight holding a significant market share of around 40%. Other notable players include Gloat, Retain, and Sympa. The majority of the market is occupied by cloud-based skills management software, which holds over 70% of the global market share.
| Report Metric | Details |
| Report Name | Skills Management Software Market |
| Accounted market size in 2023 | US$ 328.5 million |
| Forecasted market size in 2030 | US$ 676.8 million |
| CAGR | 10.8% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | Pluralsight, Kahuna, AG5, Gloat, HRSG (CompetencyCore), TalentQuest, Retain, Skillnet, Softworks, TalentGuard, Centranum, ProSymmetry, CABEM Technologies, intelliHR, PickYourSkills, SkillsTx, Sympa, viGlobal (viSkills), Skills Base, Avilar (WebMentor Skills) |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
