Recruitment Software Market Size, Share and Industry Analysis by Component (Solution, Services), Service Type (Retail, IT & Telecom, BFSI, Manufacturing, Healthcare, Education, Hospitality, Media & Entertainment), Enterprise Size (Small & Medium Enterprise, Large Enterprise), and Regional Forecast 2018-2025

The global recruitment software market size was valued at US$ 1,753.2 Million in 2017 is projected to reach US$ 3,095.8 Million by the end of 2025, exhibiting a CAGR of 7.4%.

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.

Adoption of recruitment software platforms such as the Talent Acquisition Experience Platform from Lumesse and the Kenexa Talent Acquisition Suite from IBM help enterprises in filtering, ranking, and storing the data of applicants instantly. These platforms also simplify the process of tracking the progress of an application and also automates the process of job postings on various job portals. Recruitment software maintains and tracks data that is confidential in nature such as employee information, home address, social security number, and financials.

The introduction of various new tools including candidate searching, candidate relationship management, advertisement management, and integration of LinkedIn and Facebook is also expected to contribute to the recruitment software market growth.

Request a Free sample to learn more about this report.

Market Segmentation

"Implementation and Integration services to emerge as the major services"

The implementation and integration services hold the major share in the global market in 2017. It has more than 35% of the market value share followed by maintenance & operations and consulting services. However, the maintenance & operations services are expected to grow at a higher CAGR than the other services during the forecast period 2018 – 2025 and attain the highest revenue among all the services offered by the recruitment software.

To know how our report can help streamline your business, Speak to Analyst

It is expected that the subscription recruitment software (SVoD) technology segment will rise in the IT & telecom and hospitality sectors with a CAGR of more than 8% during the forecast period 2018 – 2025. The IT & Telecom sector holds a major recruitment software market share of nearly 20% in 2017. IT & Telecom is followed by hospitality and BFSI sectors growing at a steady rate owing to the increase in adoption of cloud-based services, minimum deployment & maintenance expenses with the rising need to streamline recruitment processes.

Regional Analysis

"Heavy Industrialization enables Asia Pacific Exhibit the Highest CAGR"

The North and South America together hold more than 45% share in the global market. However, Asia Pacific is expected to have the highest incremental growth during the forecast period 2018 – 2025. North America is anticipated to be the dominating market for solutions due to rapid growth across the service sector. This growth can be further attributed to the increasing adoption of various solutions in Silicon Valley.

To get more information on the regional analysis of this market, Request a Free sample

Asia Pacific is estimated to witness high growth in the future owing to heavy industrialization in the region and the rising number of start-ups focusing on smartphone application development. Rising need for mobility in developing countries such as India and China is also anticipated to boost industry growth during the forecast period. Europe is also expected to experience substantial growth owing to the high emergence of corporate offices within several industry verticals.

Key industry Players

"IBM (Kenexa), Oracle, Accenture and Others Hold a Dominant Recruitment Software Market Share in Terms Of Revenue"

Key industry participants include Taleo Corporation (Oracle), SuccessFactors (SAP), ADP, Kronos, Accenture Plc, Ceridian HCM Inc., Kenexa Corporation (IBM), Cognizant Technology Solutions, Halogen Software Inc., PeopleAdmin, and SumTotal Systems Inc.

Prominent market players are focusing on mergers and acquisitions to gain substantial market share. For instance, Oracle’s acquisition of Taleo Corp., involving the integration of new value-added features with software, and cross-selling to several MNCs is one of the significant growth strategies used by players to increase their global footprint.

Vendors offering recruitment software are investing heavily in strategic partnerships, joint ventures, and acquisitions to capture a dominant share of the global recruitment software market and to expand their presence in new regions.

In November 2017, Kronos Inc. introduced an advanced version of recruitment software through artificial intelligence and machine learning expected to bring more profits and better management within the company.

Report Overview

The key market drivers include the need for enhanced communication capabilities and productivity of recruiters, the growing adoption of cloud-based solutions and rise in need to streamline recruitment processes, thereby igniting innovations in a recruitment software. Additionally, the use of artificial intelligence in recruiting can support enterprises in reducing or even eliminating time-consuming activities such as the manual screening of resumes. Vendors in this market are adopting recruitment software that helps to manage the entire recruitment cycle of job creation to candidate finalization with minimal disturbances.

The report covers qualitative and quantitative insights on the market and a detailed analysis of the recruitment software market size and growth rate for all possible segments in the market. The market has been segmented by component, industry vertical, enterprise size and geography.

By component, the market has been categorized into a solution based or service-based. By service type, the global market has been segmented into retail, IT & telecom, BFSI, manufacturing healthcare, education, hospitality, media & entertainment, and others. By enterprise size, the market has been segmented as small and medium enterprises and large enterprises. Geographically, the market is segmented precisely into five major regions, which are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions have been further categorized into countries.

An Infographic Representation of Recruitment Software Market

View Full Infographic

To get information on various segments, share your queries with us

Along with this, the report provides an elaborative analysis of the market dynamics and competitive landscape. Key insights provided in the report are the price trend analysis, recent industry developments such as mergers & acquisitions, the regulatory scenario in key countries, analysis of technology, SWOT analysis, and key industry trends.

SEGMENTATION

LIST OF KEY COMPANIES PROFILED :

• Taleo Corporation (Oracle)


• SuccessFactors (SAP)


• Kronos


• Accenture Plc


• Kenexa Corporation (IBM)


• Other players

INDUSTRY DEVELOPMENT:

• February 2019:  Kronos Incorporated announced the expansion of the Workforce Dimensions Technology Partner Network, by introducing new healthcare-focused software providers utilizing the revolutionary workforce dimensions solution and intelligent Kronos D5 platform, to reshape the future of work for healthcare providers and their employees.