Global Digital Talent Acquisition Industry was valued at USD 44 Billion in the year 2019. Global Digital Talent Acquisition Industry is further estimated to grow at a CAGR of 8.8% from 2018 to 2025 to reach USD 74 Billion. The global digital talent acquisition (opportunity assessment) Industry is projected to be driven by growing innovations and technological advancements. As the Big Data analytics industry swiftly grows to include mainstream customers, technologies such as Hadoop and cloud solutions are in demand and they have growth potential. The next generation technology and accessibility of data continues to drive the demand for digital talent and services.
Global Digital Talent Acquisition Industry Share by 2025 (USD Billion)
However, scarce awareness regarding benefits of digital skills is hampering the development of digital talent. Several end-users are still not aware of the importance of digital skills. Despite the evolution of technology, adoption of tools related to digital skills still remains challenging. Complex and widespread technological changes can create issues. Several end-users lack basic digital skills. Insufficient knowledge of technology leaves several end-users stuck in regular tasks, such as using basic analysis tools and spreadsheets.
Several platforms have been created to upscale digital talent skills over the years, such as emergence of AI in talent management. In recent years, organizations are using AI for pre-hiring assessments and to assign employees with projects that need their specific skills. Companies are shifting toward AI and machine learning and upscaling their skills to gain a competitive advantage in the digital talent industry. For instance, IBM Corporation offers IBM Watson, which is an AI talent management solution.
Exponential growth in data volumes is also one the major factors driving digital skills. Growth in data volumes drives analytical skills as well as requires software specialists. This, in turn, drives digital skills. Analytical skills and technologies offer valuable business insights and help in making strategic data-driven decisions. This driver is expected to have a high impact on the Industry during the forecast period. Since enterprises have started treating data as an asset, they are gradually using data-driven software systems, for example, customer relationship management (CRM), enterprise resource planning (ERP), etc. These systems have resulted in exponential increase in volumes of the data related to operations, customers, and suppliers. Additionally, due to increased Internet adoption, an enormous volume of structured and unstructured data is available in firms and they need digitally skilled people to manage the same.
North America remains the leading Industry for digital talent acquisition, with revenues in 2019 estimated at US$ 15.08 Bn. Growth in data volumes drives analytical skills as well as requires software specialists. Therefore, exponential growth in data volumes is likely to drive the digital talent acquisition Industry in the region.
Asia Pacific is projected to lead the global digital talent acquisition Industry during the forecast period. This is attributable to increase in digitization initiatives by governments across the region and rise in the demand from other regions as well.
Major market players in digital talent acquisition Skillsoft Limited, Engaging Ideas Pvt. Ltd., IBM Corporation, SAP SE, The Training Associates Corporation, Hortonworks Inc., Data Science Council of America, BrainStation Inc., Accenture, Oracle Corporation, and Other Company Profile is provided as per client requirement.
Digital Talent Acquisition Industry Segmentation:
Digital Talent Acquisition Industry Overview, by Training Type
Digital Talent Acquisition Industry, By Enterprise Size
Digital Talent Acquisition Industry, by Industry
Digital Talent Acquisition Industry Overview, by Region