WILMINGTON, DE, UNITED STATES, October 4, 2024 /EINPresswire.com/ — According to the report, the global online recruitment software market size generated $1.8 billion in 2022, and is estimated to reach $4 billion by 2032, witnessing a CAGR of 8.6% from 2023 to 2032. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
The online recruitment software market is expected to witness notable growth owing to increase in use of virtual recruitment, rise in need for robotic process automation and rise in use of artificial intelligence. Moreover, a rise in remote interviewing is expected to provide a lucrative opportunity for the growth of the market during the forecast period. On the contrary, accessibility issue open-source software limits the growth of the online recruitment software market.
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Online recruitment (also known as E-recruitment or internet recruiting) allows businesses to use various internet-based solutions – for example, online advertising, job listings, social media and company websites to source and hire the best candidates. These software solutions are commonly used by human resources professionals, recruiters, and hiring managers to manage job postings, track applicants, collaborate with team members, and make data-driven hiring decisions. Online recruitment software can vary widely in terms of features, complexity, and pricing. Small businesses may use simpler solutions, while larger enterprises may opt for more comprehensive, customizable systems to meet their specific needs. The goal of these systems is to make the recruitment process more efficient, reduce administrative tasks, and help organizations find and hire the best talent for their positions.
Online recruitment software will helps organizations to save time and money. The hiring procedure is time-consuming and labor-intensive. Paperwork consumes time and costs money. An automated approach saves a lot of time and effort over long hours of paperwork. The money that would have been spent on hiring someone to handle the documentation is also saved.
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By region, North America garnered the highest share in 2022, holding nearly one-third of the global online recruitment software market revenue in 2022, and is projected to retain its dominance by 2032, owing to the increase in technical developments that are entirely revolutionizing the landscape of the IT industry and, in turn, encouraging the online and automated solutions for hiring process in the region. The Asia-Pacific region is projected to attain the fastest CAGR of 11.6% during the forecast period, owing to the adoption of smart technologies such as AI and ML escalates the demand for online recruitment software.
Leading Market Players
Oracle Corporation
IBM Corporation
SAP SE
Freshworks Inc.
Zoho Corporation Pvt. Ltd.
Skillsoft
Clearcompany, Inc.
Ukg Inc.
Cornerstone
Sumtotal Systems, LLC
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The report analyzes these key players in the global online recruitment software market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.
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