Online Recruitment Technology Market Trends, Share, Size, Revenue, Scope, Growth Drivers, Challenges and Business Opportunities Till 2033


Online Recruitment Technology Market Trends, Share, Size, Revenue, Scope, Growth Drivers, Challenges and Business Opportunities Till 2033: SPER Market Research

 Published: Jul-2023
 Author: SPER Analyst

Recruitment Software Market is projected to be worth USD 5.21 billion by 2033 and is anticipated to surge at a CAGR of 6.23%.

Application tracking system (ATS) software, commonly referred to as recruitment software, is a specialised application created to simplify and automate key steps in the recruiting process for businesses. It is a software programme that helps HR experts, recruiters, and hiring managers efficiently manage the entire hiring process, from finding and attracting prospects to assessing and selecting the best personnel. A variety of features and functionalities in recruiting software make the hiring process easier and more effective. Facilitating job posting and candidate sourcing across various platforms, such as job boards, social media, and career websites, is one of its main responsibilities. With a wider audience and a better possibility of attracting suitable prospects, it enables recruiters to write and publish job adverts.

Global Recruitment Software Market Driving Factors and Challenges

The first major driving force is the rising desire for streamlined and effective hiring procedures. Organisations need tools and technologies that help automate and optimise their recruitment operations as they compete for top talent in a tight labour market. Companies may speed up the hiring process and increase their overall productivity by using features like automated job posting resume parsing, candidate monitoring, and collaboration capabilities that recruitment software provides. Second, the usage of recruitment software has been accelerated by the advent of digital transformation in HR practises. Organisations are switching from manual and paper-based approaches to technology-driven solutions as recruitment procedures become more digital. Utilising social media networks and artificial intelligence (AI), recruitment software offers a centralised platform for handling candidate data.

Global Recruitment Software market has a lot of potential, but it also has challenges that could slow down its expansion and uptake. Difficulty in getting organisations to adopt new technology and change is one of the problems. Due to issues including a lack of knowledge, worries about implementation difficulties, or resistance from staff members accustomed to conventional hiring procedures, some businesses may be unwilling to engage in recruitment software. Effective change management techniques, education about the advantages of recruitment software, and case studies of successful deployment are required to overcome this problem. Recruitment software must also be integrated with current HR systems and procedures to be compatible. Many businesses have HR management systems in place to handle various HR tasks, such as enterprise resource planning (ERP) software or human resource information systems (HRIS).

Impact of COVID-19 on Global Recruitment Software Market
The market for recruitment software has been significantly impacted by the COVID-19 pandemic. Organisations encountered difficulties controlling their hiring procedures when broad lockdowns and remote work became the norm. However, as businesses looked for technological solutions to make remote hiring easier, the epidemic paradoxically drove the adoption of recruitment software. The desire for sophisticated remote capabilities in recruitment software was fuelled by the requirement for virtual interviews, online tests, and collaborative tools. Additionally, organisations were forced to prioritise cost reduction and efficiency due to the unstable employment market and uncertain economy. This spurred interest in software solutions for automating and optimising recruitment procedures. 

Global Recruitment Software Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Ceridian HCM Holding, Inc., ClearCompany, HappierWork, iCIMS, Inc., Jobvite, Inc., Kronos Incorporated., Lever, Oracle Corporation,, Recruiterbox Inc, SAP SE, Talentsoft, Zoho Corporation Pvt. Ltd., Others.

Global Recruitment Software Market Segmentation:

By Model: Based on the Model, Global Recruitment Software Market is segmented as; On-premises, SaaS Based.

By Component: Based on the Component, Global Recruitment Software Market is segmented as; Services (Professional, Managed), Software (Contact Management, Mobile Recruitment, Reporting and Analytics, Resume Management, Workflow Management, Others).

By Enterprise Size: Based on the Enterprise Size, Global Recruitment Software Market is segmented as; Large Enterprises, Small and Medium-Sized Enterprises.

By Service Type: Based on the Service Type, Global Recruitment Software Market is segmented as; BFSI, Education, Healthcare, Hospitality, Manufacturing, Software, Others.

By Region: This report also provides the data for key regional segments of Asia-Pacific, Europe, Middle East and Africa, North America, Latin America, Others.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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