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Recruitment Software Market

Global Recruitment Software Market Size, Growth, Forecast: By Component: Software, Services; By Enterprise Size: Small and Medium Sized Enterprises, Large Enterprises; By Industry: Manufacturing, Healthcare, BFSI, Education, Hospitality, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032

Global Recruitment Software Market Size

The global recruitment software market reached a value of more than USD 2.20 billion in 2023. The market is expected to grow at a CAGR of 6.3% between 2024 and 2032, reaching a value of USD 3.81 billion by 2032.

 

Recruitment Software Market Outlook

  • The most popular talent tracking software includes SmartRecruiters, BambooHR, Workday, Greenhouse, and Submittable.
  • As per industry reports, almost 99% of Fortune 500 companies utilise specialised recruitment software.
  • 94% of recruiters acknowledge that recruitment software has positively impacted their hiring processes.
  • 68% of recruiters believe that investing in advanced recruiting technology is crucial for enhancing recruiting outcomes.

 

recruitment software market

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Recruitment Software Market Growth

Recruitment software is a system that helps in hiring talented applicants by optimising the hiring process and streamlining the recruitment workflow for hiring managers, recruiters, and talent acquisition professionals.

 

Increasing adoption of cloud-based solutions and mobile applications by organisations to streamline hiring processes and improve candidate experience is a major factor driving recruitment software market expansion. Growing need for data-driven decision making in talent acquisition and the use of artificial intelligence and machine learning to automate tasks like resume screening and candidate matching is also a key driving factor.

 

Key Trends and Developments

Increasing adoption of cloud-based and mobile solutions, integration of ai and machine learning, and focus on diversity and inclusion are boosting the recruitment software market growth

 

May 2024

Cornerstone OnDemand launched Cornerstone Galaxy, an AI-powered workforce agility platform, designed to unite technology, data and content to inspire a future-ready workforce. The launch redefines learning and talent management.

 

May 2024

Oracle introduced Oracle Grow for Business Leaders, an AI-powered upskilling solution within Oracle ME employee experience platform. It offers leadership-driven role guides, a centralised leader dashboard, innovative internal mobility, and a skills aggregation platform.

 

January 2024

Ceridian acquired eloomi, a leading learning experience platform software provider. The acquisition aims to provide customers with more engaging learning and development experiences, AI-driven content creation, and extended enterprise learning capabilities.

 

Increasing implementation of automation

With technological advancements, companies are increasingly implementing automation in various operations. The recruitment software allows automation of the process of job posting on different portals and keeping track of applicants.

 

Incorporation of AI in recruitment software

Companies are implementing AI in recruitment software for the purpose of predictive modelling as it allows recruiters and hiring managers to use the algorithms and predict who would be best for the job opening. This can significantly help in reducing the time taken in recruiting, which further propels the recruitment software market development.

 

Emerging nations increasingly adopting recruitment software

Recruitment software is increasingly being adopted by smaller and growing businesses and luxury brands in emerging nations owing to rapid industrialisation. With automation and management services, companies would be enabled to sort and choose the most suitable employee.

 

Rise in consolidation and partnerships

Major players like Oracle and SAP are engaging in mergers and acquisitions to gain market share and expand their product offerings. Oracle's acquisition of Taleo Corp. allowed it to integrate new value-added features and cross-sell to more multinational companies.

 

Recruitment Software Market Trends

Organisations are increasingly turning to cloud-based platforms like Greenhouse and Lever to streamline their hiring processes and improve candidate experience. Cloud-based solutions offer greater flexibility, scalability, and cost-effectiveness compared to on-premises systems. Additionally, the rise of mobile recruitment apps like JobScan and Jobvite is enabling recruiters to access candidate data and manage hiring processes on-the-go.

 

Moreover, demand for software that enables remote hiring and virtual interviews has accelerated due to the pandemic. Increasing focus on diversity and inclusion in hiring and the need for software that helps mitigate bias is another key factor influencing recruitment software market outlook. Textio's augmented writing platform analyses job descriptions and suggests language that appeals to a diverse pool of candidates.

 

Vendors are also increasingly incorporating AI and ML algorithms into their solutions to automate tasks such as resume screening, candidate matching, and interview scheduling. HireVue's AI-powered video interviews analyse candidates' facial expressions, word choice, and tone to assess their fit for a role. These technologies enable recruiters to process large volumes of candidate data more efficiently.

 

recruitment software market by segments

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Recruitment Software Industry Segmentation

The EMR’s report titled “Recruitment Software Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

 

Market Breakup by Component

  • Software
    • Contact Management
    • Resume Management
    • Mobile Recruitment
    • Reporting and Analytics
    • Workflow Management
    • Others
  • Services
    • Professional
    • Managed

 

Market Breakup by Enterprise Size

  • Small and Medium Sized Enterprises
  • Large Enterprises

 

Market Breakup by Industry

  • Manufacturing
  • Healthcare
  • BFSI
  • Education
  • Hospitality
  • Others

 

Market Breakup by Region

  • North America
  • Europe 
  • Asia Pacific 
  • Latin America 
  • Middle East and Africa

 

Recruitment Software Market Share

SMEs use recruitment software to stay competitive in the market and hire capable employees

Based on enterprise sized, the small and sized medium enterprise (SMEs) segment is expected to hold a significant share of the market owing to the rising adoption of recruitment software due to the rising competition in the market.

 

The large enterprise segment is expected to hold a major share of the market. This can be attributed to the wide array of businesses owned by large organisations. Due to this, large enterprises hire many employees across various countries and proper management becomes a necessity. This gives the market positive opportunities for recruitment software market growth.

 

Hospitality and BFSI industries holds a significant market share due to rising demand for skilled professional in managing industrial operations

The hospitality segment holds a major share of the market in the forecast period due to increasing emphasis on customer care services. The development of the hospitality sector is dependent on many workers, due to which companies in the hospitality sector are always in need of highly skilled employees.

 

As per recruitment software market analysis, recruitment software plays a vital role in the education sector for attracting and retaining academic and administrative talent. Tools like resume management and reporting/analytics aid in assessing qualifications and tracking recruitment metrics, supporting diversity and inclusion initiatives in hiring practices. The BFSI sector is also expected to hold a significant share of the market owing to its rapid development and increasing implementation of automation, which has propelled the need for skilled workers.

 

Leading Companies in the Recruitment Software Market

Market players are focused on mergers and acquisitions to expand their presence; introducing AI-powered advanced versions of recruitment software; and offering cloud-based integrated platforms

 

Ceridian HCM Holding, Inc. is a global human capital management (HCM) company. It is headquartered in Minnesota, United States, and was founded in 2013. Their flagship HCM cloud platform, Dayforce, is an advanced service providing various including human resources, payroll, and talent management capabilities in a singular solution.

 

SAP SE is a German-based multinational software company, which was founded in 1972. The company specialises in resource planning and management solutions for service, consumer, and the banking and insurance industries.

 

Oracle Corporation is the largest database management companies, headquartered in Texas, United States, and was founded in 1977. The company's products can be categorised into cloud infrastructure, cloud applications, hardware, and software. They provide management solutions for automotive, health, communications, industrial manufacturing, food, and beverages industries.

 

Kronos Incorporated was founded in 1977 and is headquartered at Massachusetts, United States. It offers a range of industry-centric workforce applications designed to help organisations control labor costs, minimise compliance risk, and enhance workforce productivity.

 

Other key players in the global recruitment software market include Cornerstone, among others.

 

recruitment software market by region

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Recruitment Software Market Analysis by Region

North America leads the market due to the need for efficient hiring processes in highly competitive job market

North America region holds the largest recruitment software market share due to its robust technological infrastructure, the need for efficient processes in a highly competitive job market, and the emergence of innovative recruitment solutions from leading providers such as SAP, Oracle, and Bullhorn. Europe is expected to experience substantial growth in the market due to the high emergence of corporate offices within several industry verticals. The region's growth is driven by the increasing adoption of various solutions in the service sector, particularly in the BFSI sector.

 

The Asia Pacific is predicted to experience a huge increase in its recruitment software market size during the projected period because of the region's significant industrialisation and the rise of start-up businesses focused on developing smartphone applications. The region's growth is also driven by the rising need for mobility in developing countries such as India and China.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Component
  • Enterprise Size
  • Industry
  • Region
Breakup by Component
  • Software
  • Services
Breakup by Enterprise Size
  • Small and Medium Sized Enterprises
  • Large Enterprises
Breakup by Industry
  • Manufacturing
  • Healthcare
  • BFSI
  • Education
  • Hospitality
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Ceridian HCM Holding, Inc.
  • Oracle Corporation
  • Cornerstone
  • Kronos Incorporated.
  • SAP SE
  • Others

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Recruitment Software Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Recruitment Software Historical Market (2018-2023) 
    8.3    Global Recruitment Software Market Forecast (2024-2032)
    8.4    Global Recruitment Software Market by Component
        8.4.1    Software
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2023)
            8.4.1.3    Forecast Trend (2024-2032)
            8.4.1.4    Breakup by Type
                8.4.1.4.1    Contact Management
                8.4.1.4.2    Resume Management
                8.4.1.4.3    Mobile Recruitment
                8.4.1.4.4    Reporting and Analytics
                8.4.1.4.5    Workflow Management
                8.4.1.4.6    Others
        8.4.2     Services
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2023)
            8.4.2.3    Forecast Trend (2024-2032)
            8.4.2.4    Breakup by Type
                8.4.2.4.1    Professional
                8.4.2.4.2    Managed
    8.5    Global Recruitment Software Market by Enterprise Size
        8.5.1    Small and Medium Sized Enterprises
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2023)
            8.5.1.3    Forecast Trend (2024-2032)
        8.5.2    Large Enterprises
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2023)
            8.5.2.3    Forecast Trend (2024-2032)
    8.6    Global Recruitment Software Market by Industry
        8.6.1    Manufacturing
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2023)
            8.6.1.3    Forecast Trend (2024-2032)
        8.6.2    Healthcare
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2023)
            8.6.2.3    Forecast Trend (2024-2032)
        8.6.3    BFSI
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2023)
            8.6.3.3    Forecast Trend (2024-2032)
        8.6.4    Education
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2018-2023)
            8.6.4.3    Forecast Trend (2024-2032)
        8.6.5    Hospitality
            8.6.5.1    Market Share
            8.6.5.2    Historical Trend (2018-2023)
            8.6.5.3    Forecast Trend (2024-2032)
        8.6.6    Others
    8.7    Global Recruitment Software Market by Region
        8.7.1    North America
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2023) 
            8.7.1.3    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2023) 
            8.7.2.3    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2023) 
            8.7.3.3    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2018-2023) 
            8.7.4.3    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2018-2023) 
            8.7.5.3    Forecast Trend (2024-2032)
9    North America Recruitment Software Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2023) 
        9.1.3    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2023) 
        9.2.3    Forecast Trend (2024-2032)
10    Europe Recruitment Software Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2023) 
        10.1.3    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2023) 
        10.2.3    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2023) 
        10.3.3    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2023) 
        10.4.3    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Recruitment Software Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2023) 
        11.1.3    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2023) 
        11.2.3    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2023) 
        11.3.3    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2023) 
        11.4.3    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2023) 
        11.5.3    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Recruitment Software Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2023) 
        12.1.3    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2023) 
        12.2.3    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2023) 
        12.3.3    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Recruitment Software Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2023) 
        13.1.3    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2023) 
        13.2.3    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2023) 
        13.3.3    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2023) 
        13.4.3    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Ceridian HCM Holding, Inc.
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Oracle Corporation
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Cornerstone
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Kronos Incorporated.
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    SAP SE
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Others
16    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Recruitment Software Market: Key Industry Highlights, 2018 and 2032
2.    Global Recruitment Software Historical Market: Breakup by Component (USD Billion), 2018-2023
3.    Global Recruitment Software Market Forecast: Breakup by Component (USD Billion), 2024-2032
4.    Global Recruitment Software Historical Market: Breakup by Enterprise Size (USD Billion), 2018-2023
5.    Global Recruitment Software Market Forecast: Breakup by Enterprise Size (USD Billion), 2024-2032
6.    Global Recruitment Software Historical Market: Breakup by Industry (USD Billion), 2018-2023
7.    Global Recruitment Software Market Forecast: Breakup by Industry (USD Billion), 2024-2032
8.    Global Recruitment Software Historical Market: Breakup by Region (USD Billion), 2018-2023
9.    Global Recruitment Software Market Forecast: Breakup by Region (USD Billion), 2024-2032
10.    North America Recruitment Software Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    North America Recruitment Software Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Europe Recruitment Software Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Europe Recruitment Software Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Asia Pacific Recruitment Software Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Asia Pacific Recruitment Software Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Latin America Recruitment Software Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Latin America Recruitment Software Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Middle East and Africa Recruitment Software Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Middle East and Africa Recruitment Software Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Global Recruitment Software Market Structure

Key Questions Answered in the Report

In 2023, the recruitment software market reached an approximate value of USD 2.20 billion.

The market is expected to grow at a CAGR of 6.3% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to USD 3.81 billion by 2032.

The major drivers of the market include the increasing competition in the market for hiring skilled workers and the growing implementation of automation in certain recruitment tasks.

Key trends aiding market expansion include the implementation of AI in recruitment software for streamlining the hiring process, increasing adoption of cloud-based and mobile solutions, and the rising adoption of recruitment services due to rapid industrialisation in emerging nations.

Regions considered in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The components of the market include software and services.

The enterprise sizes in the market include small and medium-sized enterprises and large enterprises.

The different industries in the market include manufacturing, healthcare, BFSI, education, and hospitality, among others.

Key players in the market are Ceridian HCM Holding, Inc., Oracle Corporation, Cornerstone, Kronos Incorporated., and SAP SE, among others.

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Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

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We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

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We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

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