Recruitment Software Market, By Component (Solution and Services), By Service Type (Retail, IT & Telecom, BFSI, Manufacturing, Healthcare, Education, Hospitality, and Media & Entertainment), By Enterprise Size (Small & Medium Enterprise and Large Enterprise), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2029

The recruitment software is used by talent acquisition and hiring managers to optimize the recruitment process and candidate flow. It’s primarily utilized by the organizations to keep up a database of candidates, publish vacancies, process applications, schedule interviews and collect candidate feedback. This software is an amalgamation of applicant tracking systems (ATS), candidate relationship management (CRM) systems and interviewing software. It may also perform pre-hire assessment and background checks, followed by onboard training and orientation of the new employees, thereby enhancing the efficiency of the hiring managers and also the organization. The global recruitment software market accounted for US$ XX billion in 2020 and is estimated to be US$ XX billion by 2029 and is anticipated to register a CAGR of XX.

Impact of Covid-19 pandemic on market

With the outbreak of the COVID-19, various businesses are at the forefront to combat this pandemic. The pandemic has hindered the industrial supply chain and also disrupted the product segment. Government across the countries has imposed strict lockdown to limit the spread of disease. Due to the lockdown and isolation policies that were implemented in countries across the world, many companies have been forced to shut or downsize. As a result, many organizations have put their recruitment on hold until the crisis ends. This report will quantify the impact of pandemic on recruitment software market.

The increasing penetration rate of cloud-based platforms, along with the adoption of mobile-based recruitment systems, is one of the key factors driving the growth of the market. Organizations are rapidly adopting automated resume screening methods that use artificial intelligence (AI) to assess the level of skills and experience of the candidate. The software also utilizes optical trackers and machine learning (ML) systems to identify market trends and patterns through transactional activities and analytical inputs.

The emergence of social recruiting tools such as candidate searching, candidate relationship management, advertising management, and integration of LinkedIn and Facebook are likely to drive the growth of the market, a growing need to replace traditional hiring methods to minimize paperwork, wastage of resources and costs, coupled with the increasing number of start-up companies, especially in the developing economies, are projected to drive the market further. However, the limited technical expertise in terms of using advanced ATS may restrict growth of the global recruitment software market. This coupled with, the lack of information and no awareness about applicant tracking system and its benefits hinder the market’s trajectory.

The global recruitment software market is segmented based on component, service type, enterprise size, and region.

On the basis of component, the global recruitment software market is segmented into solution, and services. Based on service type, the target market segmented into retail, IT & telecom, BFSI, manufacturing, healthcare, education, hospitality, and media & entertainment. Based on enterprise size the target market is segmented into small & medium enterprise, and large enterprise.

Regional Insights:

On region the global recruitment software market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the recruitment software market. This is attributed to rising demand for recruitment software from service sector and the rise in adoption of different solutions in Silicon Valley is fuelling the demand for HR recruitment software solutions. Meanwhile in Europe, the market will exhibit a steady growth due to the collaboration of corporate offices within various industry verticals. Moreover, the increasing number of start-ups companies and their rising focus on development of Smartphone applications is propelling the recruitment software market in Asia Pacific region.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the global recruitment software market report based on component, service type, enterprise size and region.

Global Recruitment Software Market, By Component:

• Solution
• Services

Global Recruitment Software Market, By Service Type:

• Retail
• IT & Telecom
• BFSI
• Manufacturing
• Healthcare
• Education
• Hospitality
• Media & Entertainment

Global Recruitment Software Market, By Enterprise Size:

• Small & Medium Enterprise
• Large Enterprise

Global Recruitment Software Market, By Region:

• • • North America
      • • U.S.
        • Canada
    • Europe
      • • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • • GCC
        • Israel
        • South Africa
        • Rest of Middle East & Africa

The key players operating in the global recruitment software market includes Accenture Plc, ADP LLC, Ceridian HCM Inc., Cognizant Technology Solutions, Cornerstone OnDemand, iCIMS, Kenexa Corporation (IBM), Oracle, PeopleAdmin, SAP, SumTotal Systems Inc., and Zoho Corporation. The market is especially characterized by collaborations and partnerships between the businesses and acquisitions of smaller players as a part of strategic expansion as well as launching their new product specimen. For instance, in February 2019, Kronos incorporated announced the expansion of the Workforce Dimensions Technology Partner Network, by introducing new healthcare-focused software providers to utilize the revolutionary workforce dimensions solution and intelligent kronos D5 platform, to reshape the future of work for the healthcare providers and their employees.

• Accenture Plc
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

• ADP LLC
• Ceridian HCM Inc.
• Cognizant Technology Solutions
• Cornerstone OnDemand
• iCIMS
• Kenexa Corporation (IBM)
• Oracle
• PeopleAdmin
• SAP
• SumTotal Systems Inc.
• Zoho Corporation