Overview and Scope
Recruitment software is a type of technology that is designed to help streamline the hiring process. It is used to automate multiple tasks associated with recruitment, such as posting job ads, receiving and sorting resumes, and scheduling interviews.
Sizing and Forecast
The recruitment software market size has grown strongly in recent years. It will grow from $2.27 billion in 2023 to $2.45 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to rise in minimally invasive surgeries, prevalence of chronic diseases, preference for high-quality imaging, awareness and education, reimbursement policies, hospital infrastructure development..
The recruitment software market size is expected to see strong growth in the next few years. It will grow to $3.32 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to shift towards ambulatory surgical centers, increasing geriatric population, rising surgical volume, focus on infection control, specialized application-specific endoscopes.. Major trends in the forecast period include advancements in imaging technologies, product innovation, integration of artificial intelligence , hybrid rigid-flexible endoscopes, telemedicine and remote consultations..
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Segmentation & Regional Insights
The recruitment software market covered in this report is segmented –
1) By Component: Software, Services
2) By Organization Size: SMEs (Small and Medium-sized Enterprises), Large Enterprises
3) By End-User: Retail, IT and Telecom, BFSI (Banking, Financial Services, and Insurance), Manufacturing, Healthcare, Other Commercial
Subsegment : Contact Management, Resume Management, Mobile Recruitment, Reporting and Analytics, Workflow Management, Other Softwares
North America was the largest region in the recruitment software market in 2023. The regions covered in the recruitment software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rise in demand for cloud-based systems is expected to propel the growth of the recruitment software market going forward. Cloud-based systems refer to software applications, services, or resources hosted and accessed over the Internet rather than being installed and run locally on individual computers or servers. These systems are also known as Software-as-a-Service (SaaS) or cloud computing. Cloud-based recruitment software systems offer several advantages over traditional on-premises solutions, such as accessibility, scalability, cost-effectiveness, security, and integration with other cloud-based tools and software, hence boosting the recruitment software market. For instance, in 2021, Eurostat, the Europe-based statistical office of the European Union, cloud computing adoption rose between 2020 and 2021, with more businesses using it for operations. Additionally, major organizations had a 7% increase in usage, with 72% employing cloud computing in 2021 compared to 65% in 2020. The adoption rate in medium-sized businesses increased from 46% in 2020 to 53% in 2021. Therefore, the rise in demand for cloud-based systems is driving the growth of the recruitment software market.
Key Industry Players
Major companies operating in the recruitment software market report are Oracle Corporation, SAP SE, SumTotal Systems, Automatic Data Processing Inc., Workday Inc., Ceridian HCM, Cornerstone OnDemand Inc., Accenture PLC, Talentsoft SA, Intelligent Candidate Information Management System Inc., Jobvite Inc., Zoho Corporation, Cognizant Technology Solutions, Microdec PLC, BullHorn Inc., 3A Composites, WittKieffer Inc., Avature Ltd., SuccessFactors Inc., Cegid Group SA, IBM Corporation, The Sage Group PLC, PeopleStreme Human Capital Managemnet, BambooHR LLC, Ceipal Corp., Oorwin Labs Inc., Avionté Staffing Software, JobAdder Operations Pty. Ltd., Microsoft Corporation, Alphabet Inc.
The recruitment software market report table of contents includes:
1. Executive Summary
2. Recruitment Software Market Characteristics
3. Recruitment Software Market Trends And Strategies
4. Recruitment Software Market – Macro Economic Scenario
5. Global Recruitment Software Market Size and Growth
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31. Global Recruitment Software Market Competitive Benchmarking
32. Global Recruitment Software Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Recruitment Software Market
34. Recruitment Software Market Future Outlook and Potential Analysis
35. Appendix
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