Global Recruitment Software Market Size 2024, Forecast To 2033
6 Mar, 2024
The recruitment software market has demonstrated robust expansion, progressing from $2.27 billion in 2023 to $2.45 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.7%. The growth in the historical period is attributed to factors such as the rise in minimally invasive surgeries, the prevalence of chronic diseases, a preference for high-quality imaging, increased awareness and education, and favorable reimbursement policies, along with hospital infrastructure development. The market size is expected to continue its growth trajectory, reaching $3.32 billion in 2028, driven by a CAGR of 7.9%. Anticipated factors contributing to this growth include a shift towards ambulatory surgical centers, an increase in the geriatric population, a rise in surgical volume, a focus on infection control, and the use of specialized application-specific endoscopes. Major trends in the forecast period encompass advancements in imaging technologies, product innovation, the integration of artificial intelligence, hybrid rigid-flexible endoscopes, telemedicine, and remote consultations.
Global Recruitment Software Market Key Driver
The growth in demand for cloud-based systems is set to propel the expansion of the recruitment software market. Cloud-based systems, also known as Software-as-a-Service (SaaS) or cloud computing, involve hosting and accessing software applications, services, or resources over the Internet rather than locally on individual computers or servers. Cloud-based recruitment software systems offer numerous advantages, including accessibility, scalability, cost-effectiveness, security, and seamless integration with other cloud-based tools and software. In 2021, Eurostat reported a significant rise in cloud computing adoption between 2020 and 2021, with an increasing number of businesses leveraging it for their operations. Major organizations experienced a 7% increase in usage, with 72% utilizing cloud computing in 2021 compared to 65% in 2020. Medium-sized businesses also witnessed an uptick, with adoption rates rising from 46% in 2020 to 53% in 2021. The escalating demand for cloud-based systems is expected to continue driving the growth of the recruitment software market in 2023, 2024, and 2028.
Get A Free Sample Of The Global Recruitment Software Market ReportGlobal Recruitment Software Market Segments
The recruitment software market covered in this report is segmented –
1) By Component: Software, Services
2) By Organization Size: SMEs (Small and Medium-sized Enterprises), Large Enterprises
3) By End-User: Retail, IT and Telecom, BFSI (Banking, Financial Services, and Insurance), Manufacturing, Healthcare, Other Commercial
Subsegment : Contact Management, Resume Management, Mobile Recruitment, Reporting and Analytics, Workflow Management, Other Softwares
By Geography:The regions covered in the recruitment software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the recruitment software market in 2023. The regions covered in the recruitment software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Recruitment Software Industry Players
Oracle Corporation, SAP SE, SumTotal Systems, Automatic Data Processing Inc., Workday Inc., Ceridian HCM, Cornerstone OnDemand Inc., Accenture plc, Talentsoft SA, Intelligent Candidate Information Management System Inc., Jobvite Inc., Zoho Corporation, Cognizant Technology Solutions, Microdec plc, BullHorn Inc., 3A Composites, WittKieffer Inc., Avature Ltd., SuccessFactors Inc., Cegid Group SA, IBM Corporation, The Sage Group plc, PeopleStreme Human Capital Managemnet, BambooHR LLC, Ceipal Corp., Oorwin Labs Inc., Avionté Staffing Software, JobAdder Operations Pty. Ltd., Microsoft Corporation, Alphabet Inc.
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Recruitment Software Market Overview
Recruitment software is a type of technology that is designed to help streamline the hiring process. It is used to automate multiple tasks associated with recruitment, such as posting job ads, receiving and sorting resumes, and scheduling interviews.
Recruitment Software Global Market Report 2023 provides data on the global recruitment software market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The recruitment software market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.