(MENAFN- Prophecy market Insights) The Recruitment Software Market is a dynamic sector at the forefront of reshaping talent Acquisition processes. This market leverages innovative software solutions to streamline and optimize various aspects of recruitment, ranging from applicant tracking and resume parsing to interview scheduling and candidate management. With a focus on enhancing efficiency and minimizing time-to-hire, recruitment software is becoming indispensable for HR professionals and hiring managers across diverse industries. This evolving landscape reflects a strategic response to the challenges of modern talent acquisition, presenting opportunities for improved candidate experiences and data-driven decision-making in the hiring process. The global recruitment software market accounted for 1.8 billion in 2020 and is estimated to be US$ 3.5 billion by 2029 and is anticipated to register a CAGR of 7.5%.
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”.
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:
The Recruitment Software Market exhibits promising trends driven by the increasing need for streamlined and efficient talent acquisition processes. The market's focus on innovative software solutions, ranging from applicant tracking to candidate management, reflects a response to the evolving demands of modern recruitment. Analysts anticipate continued growth as businesses prioritize data-driven decision-making and enhanced candidate experiences, positioning recruitment software as a key enabler in the dynamic landscape of talent acquisition.
Before purchasing this report, request a sample or make an inquiry by clicking the following link:
Key Market Insights from the report:
The global recruitment software market accounted for 1.8 billion in 2020 and is estimated to be US$ 3.5 billion by 2029 and is anticipated to register a CAGR of 7.5%. 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.
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.
MENAFN21112023005399012013ID1107463832
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.