Asia Pacific Video Interviewing Software Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Type, Enterprise Size, and Industry

The video interviewing software market in Asia Pacific is expected to grow from US$ 56.18 million in 2022 to US$ 140.71 million by 2028. It is estimated to grow at a CAGR of 16.5% from 2022 to 2028.

Recruiter’s position is one of the fastest-changing positions in the business world, with an extending list of responsibilities, and the use of video interviewing tools is making their tasks less cumbersome. The available automation and assistive AI technologies in purpose-built systems enable them to spend less time on administrative and repetitive recruitment tasks. This allows them to invest more time in strategic activities such as brand building and candidate engagement, alongside ensuring increased productivity. Further, video interviewing enables interviewers to keep records in digital format, thereby boosting process transparency and accuracy. In on-demand interviews, talent acquisition (TA) teams would offer the same question set in the same way to all applicants for a particular position. With recent developments such as on-demand text and virtual recruiters assisted by AI, purpose-built solutions integrated to provide efficient output such as analytics graph which can be easy for the analysis of applied applications. Additionally, video interviewing apps and software that can be installed on mobile devices are also gathering significant traction. Most organizations use an Applicant Tracking System (ATS) to store and record information about each candidate. They need to choose a video interview tool that integrates with their ATS, further allowing them to record each video interview on the candidate's profile, which can further be reviewed by other members of the group. This will help companies eliminate the step of recording and uploading the interview video to the systems that are in use to track candidates. For instance, Harver is a complete candidate screening platform with a video interview module that allows companies to easily implement asynchronous virtual interviews into their candidate screening process. Recorded video interviews can be combined with other Harver assessments, allowing the organization to evaluate every candidate aspect, from cognitive ability to cultural adaptability.

Market Overview

Asian & Pacific countries are home for several SMEs across industries, which capitalize heavily on advanced technologies, and this factor is favoring the video interviewing software market in the region. The continuously growing economies in this region include China, India, Japan, South Korea, Singapore, Taiwan, and Malaysia, among others. The cultures of a remote office, home office, and coworking spaces are tremendously growing in the region, which is encouraging the individuals to incorporate video interviewing software into their systems. In addition, several organizations are transitioning from large conference rooms to smaller hurdle rooms with an objective to utilize maximum office space for employee engagement. This transition is facilitating them to employ large workforce to ensure enhanced productivity. Moreover, the transition from large conference rooms to small hurdle rooms is influenced by the emergence and adoption of audiovisual (AV) technologies, which enable the employees to virtually interact with individuals located at a disparate area from small rooms.

The countries in APAC are consistently witnessing growth in corporate, healthcare, and education sectors. The proliferation rate of technologies is noteworthy in the sectors mentioned above, and the demand for video interviewing software continues to rise in every interview space.
In addition, the development of a 5G network is accentuating at a rapid rate, which is also foreseen to boost the video interviewing software market.

Asia Pacific Video interviewing software Market Segmentation

The Asia Pacific video interviewing software market is segmented into type, enterprise size, industry, and country. Based on type, the video interviewing software market is segmented into web-based and mobile apps. The web-based segment accounted for a larger market share in 2022.

• Based on enterprise size, the video interviewing software market is segmented into small and medium enterprises (SMEs) and large enterprises. The large enterprises segment registered the largest market share in 2022.
• Based on industry vertical, the Asia Pacific video interviewing software market is segmented into IT and telecom, manufacturing, BFSI, healthcare, and others. The IT and telecom segment held the largest market share in 2022.
• Based on country, the market is segmented into Australia, China, India, Japan, South Korea, and Rest of Asia Pacific. China dominated the market share in 2022.

Breezy HR, Inc., Jobvite, Inc, Modern Hire, and Spark Hire are the leading companies operating in the video interviewing software market in the region.