DUBLIN--(BUSINESS WIRE)--The "Online Recruitment Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Job Type (Permanent and Part-Time) and Application (Finance, Sales and Marketing, Engineering, IT, and Others)" report has been added to ResearchAndMarkets.com's offering.
According to this report the market is expected to grow from US$ 29292.3 in 2021 to US$ 47315.0 million by 2028, it is estimated to grow at a CAGR of 7.1% from 2021 to 2028.
Recruiters are constantly using HR automation software in their work. These integrated technology solutions aid in the identification, attraction, engagement, nurturing, and conversion of candidates into applicants. These tools streamline the recruiting process by automating it, making it more effective and quicker.
AI is being used by a growing number of companies in their recruiting processes. Various solutions such as applicant tracking software, interviewing software, and candidate relationship management software are enhancing the overall online recruitment processes across the globe.
to take optimum advantage of online recruitment, recruitment firms are implementing data analytics-driven solutions for their applicant tracking processes. Jobvite unveiled a data science strategy to power its HR product portfolio in January 2020. This program aims to ensure that company recruiters are given the bestofit applicants and that both candidates and recruiters are not wasting time.
This data-driven approach combines various algorithms and data sources to cover both enterprise-wide recruiting preferences and employee recruiter preferences. to increase technology adoption in online recruitment processes, recruitment firms are forming several cutting-edge technology alliances.
For example, Talview, an AI recruitment start-up, announced in January 2020 that it had become an integration partner with LinkedIn's Talent Hub applicant tracking system. Talview's live interviewing services are now incorporated into the LinkedIn Talent Hub experience, allowing businesses to source, manage, and recruit applicants from a single source. Thus, the above-mentioned factors, coupled with the availability of various recruitment solutions in the global market, are influencing the adoption of online recruitment processes, thereby driving the market.
The online recruitment market is segmented on the basis of job type, application, and geography. Based on job type, the market is segmented into permanent and partotime. In 2021, permanent segment accounted for the largest market share. In terms of application, the market is bifurcated into Finance, Sales and Marketing, Engineering, IT and Others. In 2021, IT segment accounted for a larger share in the market. Geographically, the global Online Recruitment market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, the North America segment accounted for the significant share in the global market.
Digital transformation is changing how businesses work (internal) or communicate with their customers (external). However, in most situations, digital transformation entails purchasing software and data technologies such as recruiting solutions and online recruitment channels, to reduce or remove administrative activities and improve operational performance within and across departments and hiring teams.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global online recruitment market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global online recruitment market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Market Dynamics
Drivers
- Integration of Technologies in Online Recruitment
- Digitalization of All Business Processes Including Recruitment
Restraints
- Common Difficulties Faced in Online Recruitment
Opportunities
- Integration of Artificial Intelligence (AI) in Recruitment
Future Trends
- Emergence of Fully Remote Companies and Social Media Recruiting
Companies Mentioned
- ABC Consultants
- Glassdoor, Inc.
- iPlaceUSA, Inc.
- itForte
- Info Edge (India) Ltd. (naukri.com)
- LinkedIn Corporation
- Multi Recruit
- SH Inc.
- StepStone GmbH
- TalenTECH Solutions Pvt Ltd ( Hiring Plug )
For more information about this report visit https://www.researchandmarkets.com/r/wyecnn
