According to the latest report by IMARC Group, titled, “Recruitment Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, the global recruitment software market size reached US$ 2.26 Billion in 2020. Looking forward, the market expects to grow at a CAGR of around 6% during 2021-2026.
Recruitment software refers to operating systems used by talent acquisition and hiring managers to improve the recruitment process and candidate flow. It is primarily adopted to publish vacancies, process applications, schedule interviews, maintain a database of candidates, and collect applicant feedback. Recruitment software is an amalgamation of candidate relationship management (CRM) systems, applicant tracking systems (ATS), and interviewing software. It can also perform background checks and pre-hire assessment, followed by orientation and onboard training of the new employees, thereby improving the efficiency of the hiring managers and the organization.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The rising penetration of cloud-based platforms and the increasing adoption of mobile-based recruitment systems are driving the growth of the recruitment software market. Furthermore, the implementation of automated resume screening methods that use artificial intelligence (AI) to evaluate the candidate’s level of skills and experience is also augmenting the market growth. This software also employs machine learning (ML) systems and optical trackers to identify market patterns and trends through analytical inputs and transactional activities. Numerous other factors, such as the growing need for replacing traditional hiring methods to minimize overhead costs, the emergence of social recruiting trends, and the rising number of start-up companies, are anticipated to fuel the global market for recruitment software in the coming years.
Global Recruitment Software Market 2021-2026 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Accenture Plc,
- ADP LLC,
- Ceridian HCM Inc.,
- Cognizant Technology Solutions,
- Cornerstone OnDemand,
- Kenexa Corporation (IBM),
- SumTotal Systems Inc.,
- Zoho Corporation, etc.
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The report has segmented the market on the basis of Deployment Model, Component, Enterprise Size, Vertical and Region.
Breakup by Deployment Model:
- SaaS Based
Breakup by Component:
Breakup by Enterprise Size:
- Small and Medium-Sized Enterprises
- Large Enterprises
Breakup by Vertical:
Breakup by Region:
- North America
- Latin America
- Middle East and Africa
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