Recruiting software is software that helps organizations optimize the hiring process, from finding and attracting candidates to screening resumes and sending out offer letters. Recruiting software is often called an applicant tracking system or ATS, though these two are not the same. Recruiting software is a broader category that encompasses applicant tracking systems as well as other tools that focus on individual phases of the hiring process. For hiring organizations, recruiting software can make the hiring process faster and more efficient. Not only does this save managers and recruiters lots of time, but it also makes it easier for an organization to hire top candidates who may be weighing multiple offers. Online Recruitment software helps hire professionals, manage the hiring process, and build relationships with candidates. Online Recruitment software makes the hiring process easier and faster. It is a tool used by hiring agencies, recruiters, hiring managers, and talent acquisition professionals who manage and efficiently sort the workflow of the hiring process. It simplifies functions like selecting applicants, screening resumes, interviewing candidates, shortlisting candidates, maintaining smooth communication, and much more.
Identifying, assessing, and hiring candidates is a lengthy process for hiring managers and recruiters. The role of recruiting software is to optimize and partially automate the talent acquisition and hiring workflow so organizations can hire the best talent for their team quickly and easily. A good software application should be able to do all the time-consuming tasks. Scanning through thousands of resumes for a single job opening. The initial process of sourcing, screening and scheduling of interviews should be handled smoothly by good recruiting software.
The online recruitment software market is segmented on the basis of component, deployment mode, enterprise size, end user and region. On the basis of component, it is bifurcated into solution and services. On the basis of deployment mode, it is bifurcated into web-based and cloud-based. On the basis of enterprise size, it is divided into large enterprise and small and medium-sized enterprise. On the basis of end user, it is fragmented into IT and telecom, BFSI, retail and e-commerce, healthcare, manufacturing, government, media and entertainment, and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global online recruitment software industry is dominated by key players such as Oracle Corporation, IBM Corporation, SAP SE, Freshworks Inc., Zoho Corporation Pvt. Ltd., Skillsoft, ClearCompany, Inc., Ukg Inc., Cornerstone, and Sumtotal Systems, LLC. These players have adopted various strategies to increase their market penetration and strengthen their position in the online recruitment software market
Identifying, assessing, and hiring candidates is a lengthy process for hiring managers and recruiters. The role of recruiting software is to optimize and partially automate the talent acquisition and hiring workflow so organizations can hire the best talent for their team quickly and easily. A good software application should be able to do all the time-consuming tasks. Scanning through thousands of resumes for a single job opening. The initial process of sourcing, screening and scheduling of interviews should be handled smoothly by good recruiting software.
The online recruitment software market is segmented on the basis of component, deployment mode, enterprise size, end user and region. On the basis of component, it is bifurcated into solution and services. On the basis of deployment mode, it is bifurcated into web-based and cloud-based. On the basis of enterprise size, it is divided into large enterprise and small and medium-sized enterprise. On the basis of end user, it is fragmented into IT and telecom, BFSI, retail and e-commerce, healthcare, manufacturing, government, media and entertainment, and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global online recruitment software industry is dominated by key players such as Oracle Corporation, IBM Corporation, SAP SE, Freshworks Inc., Zoho Corporation Pvt. Ltd., Skillsoft, ClearCompany, Inc., Ukg Inc., Cornerstone, and Sumtotal Systems, LLC. These players have adopted various strategies to increase their market penetration and strengthen their position in the online recruitment software market
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the online recruitment software market analysis from 2022 to 2032 to identify the prevailing online recruitment software market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the online recruitment software market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global online recruitment software market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Component
- Solution
- Services
By Deployment Mode
- Web-based
- Cloud-based
By Enterprise Size
- Large Enterprise
- Small and Medium-sized Enterprise
By End User
- IT and Telecom
- BFSI
- Retail and E-commerce
- Healthcare
- Manufacturing
- Government
- Media and Entertainment
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- Key Market Players
- Cornerstone
- UKG Inc.
- SAP SE
- Sumtotal Systems, LLC
- Oracle Corporation
- Freshworks Inc.
- ClearCompany, Inc.
- Skillsoft
- Zoho Corporation Pvt. Ltd.
- IBM Corporation
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ONLINE RECRUITMENT SOFTWARE MARKET, BY COMPONENT
CHAPTER 5: ONLINE RECRUITMENT SOFTWARE MARKET, BY DEPLOYMENT MODE
CHAPTER 6: ONLINE RECRUITMENT SOFTWARE MARKET, BY ENTERPRISE SIZE
CHAPTER 7: ONLINE RECRUITMENT SOFTWARE MARKET, BY END USER
CHAPTER 8: ONLINE RECRUITMENT SOFTWARE MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the online recruitment software market was valued at $1.8 billion in 2022, and is estimated to reach $4 billion by 2032, growing at a CAGR of 8.6% from 2023 to 2032.Online recruitment (also known as E-recruitment or internet recruiting) allows businesses to use various internet-based solutions - for example, online advertising, job listings, social media and company websites to source and hire the best candidates. These software solutions are commonly used by human resources professionals, recruiters, and hiring managers to manage job postings, track applicants, collaborate with team members, and make data-driven hiring decisions. Online recruitment software can vary widely in terms of features, complexity, and pricing. Small businesses may use simpler solutions, while larger enterprises may opt for more comprehensive, customizable systems to meet their specific needs. The goal of these systems is to make the recruitment process more efficient, reduce administrative tasks, and help organizations find and hire the best talent for their positions.
Online recruitment software will helps organizations to save time and money. The hiring procedure is time-consuming and labor-intensive. Paperwork consumes time and costs money. An automated approach saves a lot of time and effort over long hours of paperwork. The money that would have been spent on hiring someone to handle the documentation is also saved.
Additionally, the online recruitment software market is expected to witness notable growth owing to increase in use of virtual recruitment, rise in need for robotic process automation and rise in use of artificial intelligence. Moreover, a rise in remote interviewing is expected to provide a lucrative opportunity for the growth of the market during the forecast period. On the contrary, accessibility issue open-source software limits the growth of the online recruitment software market.
On the basis of enterprise size, large enterprise dominated the online recruitment software market size in 2022, owing to the presence of servers and critical resources within the network premises. In addition, by applying online recruitment software large enterprises can access a wider pool of potential candidates by posting job listings on multiple job boards and social media platforms, making it easier to reach a diverse and qualified talent pool. However, the small and medium-sized enterprise is expected to witness the fastest growth, owing to advanced technologies such as artificial intelligence and automation technologies help small & medium enterprises to compete with large organizations. Thus, the need to implement cost-effective software solutions drives the adoption of global online recruitment software market among SMEs.
Region-wise North America dominated the online recruitment software market share in 2022, owing to the increasing technical developments that are entirely revolutionizing the landscape of the IT industry and, in turn, encouraging the online and automated solutions for hiring process in the region. However, Asia-Pacific is expected to witness the fastest growth in the upcoming year, owing to developing countries such as China and India, the adoption of smart technologies such as AI and ML escalates the demand for online recruitment software. This is further attributed to the rise of remote work, and the desire for more efficient and data-driven hiring processes.
Technological aspects:
Technology in online recruitment software continues to advance, offering tools and features that not only save time and resources but also improve the quality of hires and the candidate's experience. In addition, AI and machine learning algorithms are used for resume parsing, candidate matching, and predictive analytics. As a result, these technologies help in identifying the most suitable candidates for a job, reducing manual effort. Online recruitment software uses natural language processing (NLP) to extract relevant information from resumes and store it in a structured format. Therefore, this makes it easier to search for and match candidates to job openings. In addition, online recruitment software is often highly customizable to match a company's specific hiring process. It is also scalable to accommodate the needs of growing organizations. Moreover, modern online recruitment software platforms prioritize user-friendly interfaces to ensure that recruiters and candidates can navigate the system easily. Furthermore, many systems are now cloud-based, allowing for easy access from anywhere with an internet connection and automatic updates. Such factors boost the growth of the online recruitment software market.Key Findings of the Study
By component, the solution segment led the online recruitment software market in terms of revenue in 2022.By deployment mode, the web-based led the online recruitment software market in terms of revenue in 2022.
By enterprise size, the small and medium-sized enterprise is anticipated to have fastest growth rate for online recruitment software market.
By end user, the healthcare is anticipated to have fastest growth rate for online recruitment software market.
By region, North America dominated the online recruitment software market analysis in 2022.
The key players profiled in the online recruitment software industry analysis are Oracle Corporation, IBM Corporation, SAP SE, Freshworks Inc., Zoho Corporation Pvt. Ltd., Skillsoft, ClearCompany, Inc., Ukg Inc., Cornerstone, and Sumtotal Systems, LLC. These players have adopted various strategies to increase their market penetration and strengthen their position in the online recruitment software industry.
Companies Mentioned
- Cornerstone
- UKG Inc.
- SAP SE
- Sumtotal Systems, LLC
- Oracle Corporation
- Freshworks Inc.
- ClearCompany, Inc.
- Skillsoft
- Zoho Corporation Pvt. Ltd.
- IBM Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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