The Business Research Company’s report on the Recruitment Software Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the recruitment software market’s growth in recent years?
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 June 2024, according to AAG IT Services, a UK-based non-government organization, in 2022 89% of organizations surveyed used multi-cloud solutions for their storage and workloads. Therefore, the rise in demand for cloud-based systems is driving the growth of the recruitment software market.
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How does the future projection of the recruitment software market size compare to its historical growth?
The recruitment software market size has grown strongly in recent years. It will grow from$2.39 billion in 2024 to $2.55 billion in 2025 at a compound annual growth rate (CAGR) of 6.5%. 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 “$3.71 billion in 2029 at a compound annual growth rate (CAGR) of 9.8%. 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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Which key players are shaping the future of the recruitment software market?
Major companies operating in the recruitment software market include 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 Management, BambooHR LLC, Ceipal Corp., Oorwin Labs Inc., Avionté Staffing Software, JobAdder Operations Pty. Ltd., Microsoft Corporation, Alphabet Inc.
What trends will propel the growth and evolution of the recruitment software market?
Product Innovations are a key trend gaining popularity in the recruitment software market. Companies operating in the recruitment software market are introducing new products to sustain their position in the market. For instance, in March 2023, Ceipal, a US-based recruiting and talent acquisition software company, launched an advanced and extensive tool set to automate the full talent acquisition lifecycle. Ceipal’s extensive automation capabilities, including essential ATS features, AI for recruiting, text recruiting, business intelligence and reporting, advanced CRM tools, and more, are available in a single low-cost package. It includes reports automation, managed harvesting, AI matching and ranking, marketing CRM, workforce management, and other related benefits.
Which regions are expected to become dominant players in the recruitment software market?
North America was the largest region in the recruitment software market in 2024. 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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What are the emerging key segments in the recruitment software market, and how are they evolving?
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
Subsegments:
1) By Software: Applicant Tracking System (ATS), Recruitment marketing Software, Onboarding Software, Recruitment Analytics Software, Interview Scheduling Software, Candidate Relationship Management (CRM) Software
2) By Services: Implementation Services, Consulting Services, Support And Maintenance Services, Training Services
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What defines the structure and scope of the recruitment software market?
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.
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