Recruitment Software Market Growth, Size, Trends, Demand, Challenges and Future Competition
Recruitment Software Market Size- By Model, By Component, By Enterprise Size, By Service Type- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jul-2023 | Report ID: IACT23127 | Pages: 1 - 228 | Formats*: |
| Category : Information & Communications Technology | |||
Recruitment Software Market Introduction and Overview
According to SPER Market Research, the Global Recruitment Software Market is estimated to reach USD 5.21 billion by 2033 with a CAGR of 6.23%.
The report includes an in-depth analysis of the Global Recruitment Software Market, including market size and trends, product mix, distribution channels, and supplier analysis. Recruitment software streamlines and automates the recruitment process for organizations, aiding HR professionals, recruiters, and hiring managers in sourcing, attracting, and hiring the best-fit talent. It facilitates job posting and candidate sourcing across platforms like job boards, social media, and career websites, allowing recruiters to create and distribute job advertisements, increasing the chances of attracting qualified candidates.
- Market development in 2023-2033: driven by the growing need for streamlined hiring procedures. Industry organizations demand efficient recruitment processes, leading to the adoption of recruitment software for automation in candidate sourcing, resume screening, and team collaboration.
- Concentrate on Employer Branding and Candidate Experience: Organizations prioritize positive candidate experiences in the competitive job market, using recruitment software for personalized communication, branded career portals, and streamlined interview scheduling to attract and engage top talent.
- Making Decisions Based on Data: Recruitment software offers valuable insights on recruitment metrics, enabling organizations to optimize strategies, analyse trends, and implement data-backed talent acquisition strategies.
Market Opportunities and Challenges
The market for recruitment software is expected to increase significantly over the coming years due to a number of factors. First off, there is a significant opportunity in the growing demand for effective and expedited employment procedures. Businesses in a variety of industries are searching for software solutions that help streamline and automate the hiring process, saving them time and money. A further opportunity presented by the growing use of digital platforms and job boards is for recruiting software vendors to provide integrated solutions for posting jobs, sourcing candidates, and application monitoring. Additionally, the market is being driven by the rising need for talent management and workforce analytics solutions. Businesses are looking for software tools to manage and analyse their workforces efficiently, to hire the best people, and to improve employee engagement.
The market for recruitment tools, however, also confronts difficulties. The rising rivalry among vendors, which causes pricing wars and margin pressures, is one difficulty. The processing of sensitive personal and professional data by recruitment software also creates difficulties related to data security and privacy. To keep the faith and confidence of their clients, software vendors must comply with data privacy laws like GDPR. The market may also encounter difficulties when integrating recruitment tools with current HR systems and procedures. Implementing and integrating new software into an organization's existing infrastructure can be challenging.
Market Competitive Landscape
In the fiercely competitive global recruitment software market, multiple leading companies are vying for market share and striving to establish their dominance. These industry leaders provide a variety of recruitment software solutions and have a strong market presence. The following are a few of the top market rivals: Ceridian HCM Holding, Inc., ClearCompany, HappierWork, iCIMS, Inc., Jobvite, Inc., Kronos Incorporated., Lever, Oracle Corporation, Recruitee.com, Recruiterbox Inc, SAP SE, Talentsoft, Zoho Corporation Pvt. Ltd., Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Model, By Component, By Enterprise Size, By Service Type |
| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America, Others |
| Companies Covered | Ceridian HCM Holding, Inc., ClearCompany, HappierWork, iCIMS, Inc., Jobvite, Inc., Kronos Incorporated., Lever, Oracle Corporation, Recruitee.com, Recruiterbox Inc, SAP SE, Talentsoft, Zoho Corporation Pvt. Ltd., Others |
COVID-19 Impact on Global Recruitment Software Market
The global market for recruitment software was significantly impacted by the COVID-19 epidemic. The employment process was hampered across industries by the extensive lockdowns and travel restrictions implemented to combat the virus. Onboarding new staff and performing in-person interviews were both difficult tasks for many organisations. However, the epidemic also hastened the adoption of virtual and remote employment techniques. During the pandemic, there was a rise in demand for hiring software with capabilities like automated screening, remote collaboration, and applicant tracking systems. Despite the initial setbacks, the recruitment software market is anticipated to bounce back and experience steady development as businesses adjust to the new standard of remote work and digital recruitment.
Key Target Audience
- Educational Institutions
- Government and Public Sector Organizations
- Hiring Managers
- Human Resources (HR) Professionals
- Recruiters and Talent Acquisition Specialists
- Recruitment Agencies and Staffing Firms
- Technology and Solution Providers
- Others
Our in-depth analysis of the Recruitment Software Market includes the following segments:
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| By Component: |
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| By Enterprise Size: |
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Key Topics Covered in the Report
- Global Recruitment Software Market Size (FY’2023-FY’2033)
- Overview of Global Recruitment Software Market
- Segmentation of Global Recruitment Software Market By Model (On-premises, SaaS Based)
- Segmentation of Global Recruitment Software Market By Component (Software, Services)
- Segmentation of Global Recruitment Software Market By Enterprise Size (Small and Medium-Sized Enterprises, Large Enterprises)
- Segmentation of Global Recruitment Software Market By Service Type (BFSI, Education, Healthcare, Hospitality, Manufacturing, Software, Others)
- Statistical Snap of Global Recruitment Software Market
- Expansion Analysis of Global Recruitment Software Market
- Problems and Obstacles in Global Recruitment Software Market
- Competitive Landscape in the Global Recruitment Software Market
- Impact of COVID-19 and Demonetization on Global Recruitment Software Market
- Details on Current Investment in Global Recruitment Software Market
- Competitive Analysis of Global Recruitment Software Market
- Prominent Market Players in the Global Recruitment Software Market
- SWOT Analysis of Global Recruitment Software Market
- Global Recruitment Software Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Recruitment Software Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Recruitment Software Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Recruitment Software Market
7. Global Recruitment Software Market, By Model (USD Million)
7.1. Global Recruitment Software Market Value Share and Forecast, By Model, 2023-20337.2. On-premises7.3. SaaS Based
8. Global Recruitment Software Market, By Component (USD Million)
8.1. Global Recruitment Software Market Value Share and Forecast, By Component, 2023-20338.2. Services
8.2.1. Managed8.2.2. Professional
8.3. Software
8.3.1. Contact Management8.3.2. Mobile Recruitment8.3.3. Reporting and Analytics8.3.4. Resume Management8.3.5. Workflow Management8.3.6. Others
9. Global Recruitment Software Market, By Enterprise Size (USD Million)
9.1. Global Recruitment Software Market Value Share and Forecast, By Enterprise Size, 2023-20339.2. Large Enterprises9.3. Small and Medium-Sized Enterprises
10. Global Recruitment Software Market, By Service Type (USD Million)
10.1. Global Recruitment Software Market Value Share and Forecast, By Service Type, 2023-203310.2. BFSI10.3. Education10.4. Healthcare10.5. Hospitality10.6. Manufacturing10.7. Software10.8. Others
11. Global Recruitment Software Market Forecast, 2019-2033 (USD Million)
11.1. Global Recruitment Software Market Size and Market Share
12. Global Recruitment Software Market, By Model, 2019-2033 (USD Million)
12.1. Global Recruitment Software Market Size and Market Share By Model (2019-2026)12.2. Global Recruitment Software Market Size and Market Share By Model (2027-2033)
13. Global Recruitment Software Market, By Component, 2019-2033 (USD Million)
13.1. Global Recruitment Software Market Size and Market Share By Component (2019-2026)13.2. Global Recruitment Software Market Size and Market Share By Component (2027-2033)
14. Global Recruitment Software Market, By Enterprise Size, 2019-2033 (USD Million)
14.1. Global Recruitment Software Market Size and Market Share By Enterprise Size (2019-2026)14.2. Global Recruitment Software Market Size and Market Share By Enterprise Size (2027-2033)
15. Global Recruitment Software Market, By Service Type, 2019-2033 (USD Million)
15.1. Global Recruitment Software Market Size and Market Share By Service Type (2019-2026)15.2. Global Recruitment Software Market Size and Market Share By Service Type (2027-2033)
16. Global Recruitment Software Market, By Region, 2019-2033 (USD Million)
16.1. Global Recruitment Software Market Size and Market Share By Region (2019-2026)16.2. Global Recruitment Software Market Size and Market Share By Region (2027-2033)16.3. Asia-Pacific
16.3.1. Australia16.3.2. China16.3.3. India16.3.4. Japan16.3.5. South Korea16.3.6. Rest of Asia-Pacific
16.4. Europe
16.4.1. France16.4.2. Germany16.4.3. Italy16.4.4. Spain16.4.5. United Kingdom16.4.6. Rest of Europe
16.5. Middle East and Africa
16.5.1. Kingdom of Saudi Arabia16.5.2. United Arab Emirates16.5.3. Rest of Middle East & Africa
16.6. North America
16.6.1. Canada16.6.2. Mexico16.6.3. United States
16.7. Latin America
16.7.1. Argentina16.7.2. Brazil16.7.3. Rest of Latin America
17. Company Profile
17.1. Ceridian HCM Holding, Inc.
17.1.1. Company details17.1.2. Financial outlook17.1.3. Product summary17.1.4. Recent developments
17.2. ClearCompany
17.2.1. Company details17.2.2. Financial outlook17.2.3. Product summary17.2.4. Recent developments
17.3. HappierWork
17.3.1. Company details17.3.2. Financial outlook17.3.3. Product summary17.3.4. Recent developments
17.4. iCIMS, Inc.
17.4.1. Company details17.4.2. Financial outlook17.4.3. Product summary17.4.4. Recent developments
17.5. Jobvite, Inc.
17.5.1. Company details17.5.2. Financial outlook17.5.3. Product summary17.5.4. Recent developments
17.6. Kronos Incorporated.
17.6.1. Company details17.6.2. Financial outlook17.6.3. Product summary17.6.4. Recent developments
17.7. Lever
17.7.1. Company details17.7.2. Financial outlook17.7.3. Product summary17.7.4. Recent developments
17.8. Oracle Corporation
17.8.1. Company details17.8.2. Financial outlook17.8.3. Product summary17.8.4. Recent developments
17.9. Recruitee.com
17.9.1. Company details17.9.2. Financial outlook17.9.3. Product summary17.9.4. Recent developments
17.10. Recruiterbox Inc
17.10.1. Company details17.10.2. Financial outlook17.10.3. Product summary17.10.4. Recent developments
17.11. SAP SE
17.11.1. Company details17.11.2. Financial outlook17.11.3. Product summary17.11.4. Recent developments
17.12. Talentsoft
17.12.1. Company details17.12.2. Financial outlook17.12.3. Product summary17.12.4. Recent developments
17.13. Zoho Corporation Pvt. Ltd.
17.13.1. Company details17.13.2. Financial outlook17.13.3. Product summary17.13.4. Recent developments
17.14. Others
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Recruitment Software Market grew in market size from 2022. The Market is expected to reach USD 5.21 billion by 2033, at a CAGR of 6.23% during the forecast period.
Recruitment Software Market CAGR of 6.23% during the forecast period.
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Recruitment Software Market size is USD 5.21 billion from 2023 to 2033.
Recruitment Software Market Segment is covered By Model, By Component, By Enterprise Size, By Service Type.
The North America region is anticipated to have the highest market share in the Recruitment Software Market.
The key players in the market include Companies Covered Ceridian HCM Holding, Inc., ClearCompany, HappierWork, iCIMS, Inc., Jobvite, Inc., Kronos Incorporated., Lever, Oracle Corporation, Recruitee.com, Recruiterbox Inc, SAP SE, Talentsoft, Zoho Corporation Pvt. Ltd., Others.
The market for recruitment software is expected to increase significantly over the coming years due to a number of factors. First off, there is a significant opportunity in the growing demand for effective and expedited employment procedures.
Recruitment Software Market is projected to reach USD 5.21 billion by 2033, growing at a CAGR of 6.23% during the forecast period.
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