The ‘Global Recruitment Software Market Growth, Share, Price, Trends, Size, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global recruitment software market, assessing the market based on its segments like components, enterprise sizes, industries, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Recruitment Software Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): Over USD 2.07 Billion
• Forecast CAGR (2023-2028): 6.30%
Recruiting software automates the process of posting jobs on several job boards and keeps track of applications. Hence, the increasing implementation of automation by organisations in various end-use sectors amid growing competition is driving the recruitment software market growth.
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Due to the flourishing trend of remote work, many recruitment software solutions are including video interviewing functions to offer a more efficient and easier way for recruiters to conduct interviews from anywhere. This, coupled with growing network penetration and the rising popularity of video interviews, is expected to further support the market for recruitment software in the forecast period.
Recruitment Software Industry Definition and Major Segments
Recruitment software is a technology used by recruiters, talent acquisition specialists, and hiring managers to expedite or automate various aspects of the recruiting process. The right tools can enable companies of different scales to improve the recruiter’s experience and facilitate effective talent management while reducing operational expenses. This type of software can also improve the candidate’s experience while increasing the social reach and productivity of recruiters.
The global recruitment software market, based on components, can be bifurcated into:
• Software
o Contact Management
o Resume Management
o Mobile Recruitment
o Reporting and Analytics
o Workflow Management
o Others
• Services
o Professional
o Managed
By enterprise size, the market can be divided into:
• Small and Medium-Sized Enterprises
• Large Enterprises
Based on industry, the market can be segmented into:
• Manufacturing
• Healthcare
• BFSI
• Education
• Hospitality
• Others
The major regional markets of recruitment software include:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Recruitment Software Market Trends
Market players are using artificial intelligence (AI) in recruiting software for predictive modelling, which allows recruiters and hiring managers to utilise the algorithms to boost their hire quality and efficiently select the right candidate. Artificial intelligence can also significantly automate various tasks involved in the recruitment process while increasing its time effectiveness, thereby propelling recruitment software market development.
The hospitality sector puts great emphasis on customer care services and is heavily reliant on qualified staff. Due to this, it is anticipated that the hospitality segment will represent a significant share in the recruitment software market in the coming years.
With the rising deployment of automation, the expanding BFSI sector is likely to increase the deployment of recruitment software for streamlining the recruitment process.
Key Market Players
The major players in the global recruitment software market report include
• Ceridian HCM Holding, Inc.
• Oracle Corporation
• Cornerstone
• Kronos Incorporated.
• SAP SE
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
