What is the global market size of Online Recruitment Market?

Online Recruitment Market size was valued at USD 29292.3 million in 2021 and is poised to grow from USD 31372.05 million in 2022 to USD 58163.19 million by 2030, growing at a CAGR of 7.1% in the forecast period (2023-2030).

What is the key driver of Global Online Recruitment Market?

The emergence of social networking has transformed how people share knowledge and offered up new channels for connection. The recruitment sector is presented with a complete picture of exciting potential as social networking infrastructure starts to grow and become more widespread. By connecting with talent across a wide range of social media platforms, recruiters are becoming more and more aware of the need for more creative approaches to enhance the business plan. Businesses now understand social media's use as a marketing strategy due to its widespread use. A business may find that social networking is a potent tool that it may use to publicise job openings and gain a competitive advantage in order to draw in a larger pool of potential candidates. Businesses now rely more on social networking than they do on newspapers, radio, or recruiting firms. Utilizing social media has altered the hiring process for many companies globally in recent years.

Global Online Recruitment Market Size, Share, Growth Analysis, By Job Type(Permanent, Part-time), By Application(Finance, Sales) - Industry Forecast 2024-2031

Report ID: SQMIG20P2006 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 65 | Figures: 75

Global Online Recruitment Market Insights

Online Recruitment Market size was valued at USD 29292.3 million in 2019 and is poised to grow from USD 31372.05 million in 2023 to USD 58163.19 million by 2031, growing at a CAGR of 7.1% in the forecast period (2024-2031).

Due to Online Recruitment Market demand, all corporate procedures, including hiring, have gone digital. However, in the majority of cases, digital transformation entails investing in software and data technologies, such as hiring solutions and online hiring channels, in order to scale back or completely eliminate administrative tasks and boost operational performance within and across departments and hiring teams.

The growth in employment opportunities has significantly increased the need for advanced recruiting platforms. These platforms are needed to simplify recruitment procedures such as resume management, employee screening, assessment tools, and others. The business is primarily driven by the widespread outsourcing of traditional hiring procedures to online recruiting platforms. The Online Recruitment Market's primary growth drivers are the growth of social networking, the widespread usage of cloud-based technologies, and easy access to high-bandwidth internet infrastructure.

A growing number of businesses are using AI in their hiring procedures. Around the world, various solutions including candidate relationship management software, interviewing software, and application monitoring software are improving the whole online hiring procedures. Recruitment agencies are integrating data analytics-driven solutions for their applicant monitoring processes in order to fully benefit from online recruitment. In January 2020, Jobvite revealed a data science plan to support its HR product line. This tool seeks to prevent time wastage for both candidates and recruiters by providing the finest candidates to firm recruiters.

The fourth industrial revolution and digital transformation have also had a favorable impact on the Online Recruitment Market and given rise to a new generation of employment opportunities.

US Online Recruitment Market is poised to grow at a sustainable CAGR for the next forecast year.

Global Online Recruitment Market Report Snapshots

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Leading Online Recruitment Market players like LinkedIn, Naukri.com, TalentLyft, Zoho Corporation Pvt. Ltd., Indeed, HackerRank, and others are introducing novel products and implementing cutting-edge technology to provide organisations effective solutions. On the other hand, other significant businesses, including Tribepad Ltd., WeLove9am, and others, are forming strategic alliances to improve their competitiveness and produce powerful brand advertising. For instance, Talview, an AI recruitment start-up, announced in January 2020 that it had become an integration partner with LinkedIn's Talent Hub applicant tracking system. Talview's live interviewing services are now incorporated into the LinkedIn Talent Hub experience, allowing businesses to source, manage, and recruit applicants from a single source 'LinkedIn Corporation', 'Glassdoor, Inc.', 'Indeed, Inc.', 'CareerBuilder, LLC', 'Monster Worldwide, Inc.', 'Seek Limited', 'Naukri.com (Info Edge India Ltd.)', 'StepStone Group', 'Bayt.com', 'Recruit Holdings Co., Ltd.', 'Upwork Inc.', 'Guru.com', 'Freelancer Technology Pty Limited', 'SimplyHired Inc.', 'ZipRecruiter, Inc.', 'Snagajob, Inc.', 'CareerArc Group LLC', 'Jobvite, Inc.', 'iCIMS Inc.', 'ManpowerGroup Inc.'

Increasing social media exposure to spur demand

Businesses are adapting to meet their employees' requirements as flexible schedules and work from home options become one of the most sought-after benefits by job seekers. This has led to an increase of completely remote firms around the world. Because businesses can now access global talent without being restricted by regional borders, companies are encouraging employees to work remotely in order to grow their online talent pool. As a result, it has been noticed that more people are using apps and technology including online recruitment tools, virtual workplaces, augmented and virtual reality work environments, and sophisticated multi-media networking platforms to manage remote hiring and teams.

North America is anticipated to dominate the global online recruitment market over the forecast period owing to rising use of social media platforms and other online services for recruiting that will support Online Recruitment Market growth in this region. The major firms in this region are also working on AI technologies to continue to dominate global technological advancements. Employers and recruiters in the region would be able to expand further recruiting-related administrative tasks, such as fielding questions, setting up interviews, and even doing preliminary candidate screenings due to recruitment marketing technologies and AI. This might boost output by more than 50%, giving recruiters more time to concentrate on technical responsibilities. Additionally, recruiters in the area use software and assessment tools to confirm the qualifications of the candidates.

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Global Online Recruitment Market Size, Share, Growth Analysis, By Job Type(Permanent, Part-time), By Application(Finance, Sales) - Industry Forecast 2024-2031

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