Global Recruitment Software Market

Recruitment Software Market Size, Share, Growth Analysis, By Component(Solution, Services), By Industry(Manufacturing, Healthcare), By Organization Size(SMEs and Large Enterprises), By Region(North America, Europe) - Industry Forecast 2024-2031


Report ID: SQMIG45E2168 | Region: Global | Published Date: July, 2001
Pages: 157 | Tables: 119 | Figures: 77

Recruitment Software Market Insights

Recruitment Software Market size was valued at USD 2366.21 million in 2019 and is poised to grow from USD 2504.63 million in 2023 to USD 4177.94 million by 2031, growing at a CAGR of 5.85% in the forecast period (2024-2031).

Hiring managers and talent acquisition professionals use recruitment tools to improve candidate flow. It is frequently used by businesses to manage applications, advertise job positions, schedule interviews, and collect feedback from applicants. This program integrates interviewing software, candidate relationship management (CRM), and application tracking systems (ATS). Additionally, it might do background checks and pre-hire evaluations before training and orienting new hires, improving the effectiveness of the organization's hiring managers.

Organizations may quickly screen, rate, and store candidate data by implementing recruiting software systems like IBM's Kenexa Talent Acquisition Suite and Lumesse's Talent Acquisition Experience Platform. Additionally, these technologies automate the process of posting jobs on various job boards and make it simpler to monitor the status of an application. Recruitment software keeps and tracks all employee information, including financial details, home address, social security number, and home address.

The market for recruitment software is expanding as a result of the increasing adoption of mobile-based recruitment systems and cloud-based platforms. The usage of automated resume screening techniques that employ artificial intelligence (AI) to assess the degree of abilities and expertise of the candidate is also promoting market expansion. Through analytical inputs and transactional operations, this software also uses machine learning (ML) algorithms and optical trackers to detect market patterns and trends. The global market for recruitment software is expected to grow over the next few years due to a variety of other factors, including the expanding need to replace conventional hiring practices in order to reduce overhead costs, the emergence of social recruiting trends, and the rising number of start-up businesses.

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

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Recruitment Software Market size was valued at USD 2366.21 million in 2019 and is poised to grow from USD 2504.63 million in 2023 to USD 4177.94 million by 2031, growing at a CAGR of 5.85% in the forecast period (2024-2031).

The Recruitment software market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses to increase Recruitment Software market share and profitability. 'ClearCompany', 'HappierWork', 'Oracle Corporation', 'SAP SE', 'Workday, Inc.', 'ADP, LLC', 'Ultimate Software Group, Inc.', 'Bullhorn, Inc.', 'Jobvite, Inc.', 'JazzHR (formerly The Resumator)', 'SmartRecruiters, Inc.', 'Lever, Inc.', 'Workable Software Ltd.', 'BambooHR LLC', 'Zoho Corporation Pvt. Ltd.', 'Greenhouse Software, Inc.', 'JobAdder Pty Ltd.', 'Recruiterbox Inc.', 'ApplicantPro', 'Cornerstone OnDemand, Inc.'

Utilization of cloud-based solutions is driving the Recruitment Software market. Cloud Services improves recruiters' capacity to more effectively match job searchers with suitable prospects. Technology is also assisting recruiters in narrowing their focus on and expanding the pool of qualified candidates for open vacancies. Cold calls are no longer used. Today's hiring practices are extremely focused and are supported by data and research. When a recruiter makes the call, they are aware that they are speaking with a highly qualified and competitive candidate.

Big Data and Predictive Analytics are growing at the faster pace. Companies are having a tougher time managing the volume of applicants, so they are looking to technology to help sort through candidate data and identify individuals who are likely to be top achievers. To improve their predicting powers, they seek a comprehensive perspective of the applicant, including information about how applicants in the past have fared. SaaS apps will intensify their fierce rivalry with on-premises solutions.

In 2021, the North America region held the largest Recruitment software market share. The growth of the regional Recruitment Software market can be attributed to Silicon Valley's growing reliance on diverse solutions. The Asia Pacific is predicted to experience a huge increase in Recruitment Software market revenue during the projected period as a result of the region's significant industrialization and the rise of start-up businesses focused on developing smartphone applications. Throughout the forecast period, Recruitment Software market expansion is expected to be driven by rising mobility needs in developing countries like China and India. Due to the rapid expansion of corporate headquarters in a variety of industrial verticals the region of Europe is predicted to grow exponentially during the forecast period.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Recruitment Software Market

Product ID: SQMIG45E2168

$5,300
BUY NOW GET FREE SAMPLE