Online Recruitment Technology Market to Surpass USD 30.87 Billion by 2030, exhibiting a CAGR of 15.2%

 

Online Recruitment Technology Market to Surpass USD 30.87 Billion by 2030, exhibiting a CAGR of 15.2%



Online Recruitment Technology Market to Surpass USD 30.87 Billion by 2030, exhibiting a CAGR of 15.2%


Introduction

The global online recruitment technology market is projected to reach USD 30.87 billion by 2030, exhibiting a CAGR of 15.2% during the forecast period. The market is driven by the increasing adoption of online recruitment platforms by organizations of all sizes, the rising demand for talent management solutions, and the growing popularity of artificial intelligence (AI) and machine learning (ML) in recruitment.

Market Drivers

  • Increasing adoption of online recruitment platforms: Organizations are increasingly adopting online recruitment platforms to streamline their hiring processes, reduce costs, and improve efficiency. Online recruitment platforms offer a range of features, such as job posting, applicant tracking, and candidate assessment, that can help organizations make better hiring decisions.

  • Rising demand for talent management solutions: Organizations are also increasingly investing in talent management solutions to attract, develop, and retain top talent. Talent management solutions can help organizations identify and recruit top candidates, develop their skills and knowledge, and build a strong employer brand.

  • The growing popularity of AI and ML in recruitment: AI and ML are being used in a variety of ways to improve the recruitment process. For example, AI can be used to automate tasks such as job posting and screening resumes, while ML can be used to predict candidate fit and identify potential red flags.

Market Segmentation

The online recruitment technology market can be segmented by deployment type, component, organization size, and industry.

  • Deployment type: The market is segmented into cloud-based and on-premises solutions. Cloud-based solutions are becoming increasingly popular due to their scalability, flexibility, and affordability.

  • Component: The market is segmented into applicant tracking systems (ATS), recruiting portals, video interviewing, and pre-employment assessments. ATS is the largest component segment, followed by recruiting portals.

  • Organization size: The market is segmented into small and medium-sized enterprises (SMEs) and large enterprises. SMEs are expected to be the fastest-growing segment due to their increasing adoption of online recruitment platforms.

  • Industry: The market is segmented into healthcare, IT, manufacturing, retail, and others. It is expected to be the largest industry segment due to the high demand for skilled IT professionals.

Regional Analysis

North America is the largest market for online recruitment technology, followed by Europe and Asia Pacific. The market is expected to grow fastest in Asia Pacific due to the region's large and growing population and its increasing adoption of online recruitment platforms.

Key Players

Key players in the online recruitment technology market include BambooHR LLC, HireVue, Inc., TalentLyft, Yello, Fountain, and Flair.hr, SmartRecruiters, Avature, Recruitee.com, and TestGorilla.


Conclusion

The online recruitment technology market is expected to grow significantly in the coming years due to the factors mentioned above. Organizations that are looking to improve their hiring processes and attract top talent should consider investing in online recruitment technology solutions.

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