How Has The Recruitment Software Market Size Evolved Historically?
The recruitment software market has seen considerable growth due to a variety of factors.
•The market size of recruitment software has been showing significant growth lately. It is projected to increase from $2.39 billion in 2024 to $2.55 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.5%.
The hefty growth in the historical period can be accredited to a surge in minimally invasive operations, the prevalence of persistent illnesses, the inclination for superior-quality imaging, awareness, and education, changes in reimbursement protocols, and advancements in hospital infrastructure.
What Will Be The Recruitment Software Market Size In The Future?
The recruitment software market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipations indicate a robust expansion in the recruitment software market size over the coming years. The market is projected to reach "$3.71 billion by 2029, growing at a compound annual growth rate (CAGR) of 9.8%.
This predicted increase during the forecast period can be credited to factors such as the transition towards ambulatory surgical centers, the growth of the elderly population, escalating surgical volume, emphasis on infection control, as well as the usage of endoscopes tailored for specific applications. Major developments expected within the forecast period incorporate advancements in imaging technologies, innovative products, the incorporation of artificial intelligence, the advent of hybrid rigid-flexible endoscopes, along with the rise of telemedicine and remote consultations.
What Are The Primary Growth Drivers In The Recruitment Software Market?
The increased need for cloud-based solutions is believed to be a major catalyst for expansion in the recruitment software market. These solutions, which are also known as Software as a Service (SaaS) or cloud computing, are services, applications, or resources hosted on the Internet rather than being locally installed and operated on individual computers or servers. Cloud-based recruitment software systems hold a distinct edge over traditional on-premises solutions in terms of accessibility, scalability, affordability, security, and compatibility with other cloud-based tools and software, thus invigorating the recruitment software market. For instance, a survey carried out by AAG IT Services, a non-government organization based in the UK, revealed in June 2024, that 89% of organizations in 2022 utilized multi-cloud solutions for managing their storage and workloads. Consequently, the surge in demand for cloud-based platforms is driving the upswing in the recruitment software market.
What Is The Segmentation Of The Global Recruitment Software Market?
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
Subsegments:
1) By Software: Applicant Tracking System (ATS), Recruitment marketing Software, Onboarding Software, Recruitment Analytics Software, Interview Scheduling Software, Candidate Relationship Management (CRM) Software
2) By Services: Implementation Services, Consulting Services, Support And Maintenance Services, Training Services
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What Emerging Trends Are Shaping The Recruitment Software Market Landscape?
The growing trend of product innovation is gaining traction in the recruitment software market. Firms in this market are continuously launching innovative products to maintain their market standing. For example, in March 2023, Ceipal, a renowned American recruitment and talent acquisition software company, introduced a comprehensive tool suite to fully automate the talent acquisition process. Ceipal's broad automation features, encompassing critical ATS aspects, AI in hiring, text-based recruitment, business intelligence and reporting, superior CRM tools and more, are accessible in a single economical package. The package comprises automated reporting, managed harvesting, AI-based matching and ranking, marketing CRM, workforce management, and other pertinent advantages.
Who Are the Key Players in the Recruitment Software Market?
Major companies operating in the recruitment software market include:
• 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 Management
• BambooHR LLC
• Ceipal Corp.
• Oorwin Labs Inc.
• Avionté Staffing Software
• JobAdder Operations Pty. Ltd.
• Microsoft Corporation
• Alphabet Inc.
What are the Regional Insights into the Recruitment Software Market?
North America was the largest region in the recruitment software market in 2024. The regions covered in the recruitment software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
