Covina, CA, Dec. 21, 2020 (GLOBE NEWSWIRE) -- Recruitment software, also known as applicant tracking system enables organizations to control their recruitment electronically. Recruitment software enables the automated process of recruitment for executive search firms, recruitment agencies, SME’s, large enterprises and HR teams of start-ups.
The global recruitment software market is anticipated to register a CAGR of 8.9%.
The report "Global Recruitment Software Market, By Component (Solution and Services), By Service Type (Retail, IT & Telecom, BFSI, Manufacturing, Healthcare, Education, Hospitality, and Media & Entertainment), By Enterprise Size (Small & Medium Enterprise, and Large enterprise), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
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Key Highlights:
- In February 2019, Kronos incorporated announced the expansion of the Workforce Dimensions Technology Partner Network, by introducing new healthcare-focused software providers to utilize the revolutionary workforce dimensions solution and intelligent kronos D5 platform, to reshape the future of work for the healthcare providers and their employees.
- In February 2019, Ultimate Software Group Inc, cloud-based human resources applications, acquired investor group. The investor group includes Blackstone Group LP, GIC Pte Ltd, Canada Pension Plan Investment Board (CPPIB) and JMI Equity.
Analyst View:
Increasing penetration rate of cloud-based platforms
The increasing penetration rate of cloud-based platforms, along with the adoption of mobile-based recruitment systems, is one of the key factors driving the growth of the market. Organizations are rapidly adopting automated resume screening methods that use artificial intelligence (AI) to assess the level of skills and experience of the candidate. The software also utilizes optical trackers and machine learning (ML) systems to identify market trends and patterns through transactional activities and analytical inputs.
Emergence of social recruiting trends
The emergence of social recruiting tools such as candidate searching, candidate relationship management, advertising management, and integration of LinkedIn and Facebook are likely to drive the growth of the market, a growing need to replace traditional hiring methods to minimize paperwork, wastage of resources and costs, coupled with the increasing number of start-up companies, especially in the developing economies, are projected to drive the market further. However, the limited technical expertise in terms of using advanced ATS may restrict growth of the global recruitment software market. This coupled with, the lack of information and no awareness about applicant tracking system and its benefits hinder the market’s trajectory.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Recruitment Software Market”, By Component (Solution and Services), By Service Type (Retail, IT & Telecom, BFSI, Manufacturing, Healthcare, Education, Hospitality, and Media & Entertainment), By Enterprise Size (Small & Medium Enterprise, and Large Enterprise), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029
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Key Market Insights from the report:
The global recruitment software market is anticipated to register a CAGR of 8.9%. The market report has been segmented on the basis of component, service type, enterprise size and region.
- Depending upon type, the services segment is projected to grow at highest CAGR over the forecast period.
- Depending upon service type, the IT & telecom segment is projected to grow at highest CAGR over the forecast period owing to increase adoption of cloud-based services.
- By region, North America is expected to dominate the recruitment software market. This is attributed to rising demand for recruitment software from service sector and the rise in adoption of different solutions in Silicon Valley is fuelling the demand for HR recruitment software solutions.
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Competitive Landscape:
The prominent player operating in the global recruitment software market includes Accenture Plc, ADP LLC, Ceridian HCM Inc., Cognizant Technology Solutions, Cornerstone OnDemand, iCIMS, Kenexa Corporation (IBM), Oracle, PeopleAdmin, SAP, SumTotal Systems Inc., and Zoho Corporation.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
Key Topics Covered
- Introduction
- Study Deliverables
- Study Assumptions
- Scope of the Study
- Research Methodology
- Executive Summary
- Opportunity Map Analysis
- Market at Glance
- Market Share (%) and BPS Analysis, by Region
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Investment Analysis
- Competitive Analysis
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