Need to Leverage Benefits of Automation in Recruitment & Proficiency in Candidate Sourcing and Tracking to Drive Growth in the Global Recruitment Software Market

The global market for recruitment software is projected to reach US$2.7 billion by 2022, driven by the need for effective candidate sourcing and proficient applicant tracking tools especially against the backdrop of changing labor demand and supply with respect to skills.  

Recruitment software, a high-tech HCM tool designed to provide end-to-end support in corporate recruitment process, has made a substantial progress following its inception in early-1990s. Evolving from a basic application tracking tool into a multi-faceted system capable of providing comprehensive support for staffing needs, recruiting tools have largely replaced the paper-based and email-centric processes while emerging as key enablers of talent acquisition. Recruitment software continues to gain wider traction among modern enterprises offering unmatched benefits in collecting, organizing, parsing, searching, and filtering applicant information to eventually bring the best fit candidates onboard. Large enterprises, SMBs, and HR agencies are increasingly relying on the innovative IT tool to suffice their various recruitment needs , irrespective of scale and size of recruitment requirement.

Recruitment software market is poised to exhibit steady growth through the next few years, driven by rising investments on enterprise IT solutions, northbound trajectory in the uptake of HCM technologies, and prevailing macro factors favoring hiring and staffing activities. Trend towards HR automation, shift from ERP platforms to pure-play recruitment technologies, widespread adoption of e-Recruitment, and rising importance of Big Data HR would be instrumental in future growth. Market is also likely to benefit from ongoing advancements in recruitment technologies, and proficiency in candidate sourcing, candidate relationship, and reporting & analytics.  Wider availability of Cloud-based SaaS recruitment platforms is poised to widen the market scope and span in a major way. Cloud has already made rapid progress in the HR software space, and the shift towards Cloud is highly visible in the recruitment software vertical, with SMBs steering uptake of cloud tools.

As stated by the new market research report on Recruitment Software, Europe represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 12.2% over the analysis period, driven by rising focus on reinforcing enterprise IT infrastructure with advanced ‘tech’ tools, and influence of Western markets, where HR IT has already attained mainstream image.

Major players in the market include ADP LLC, Bullhorn Inc., CareerBuilder LLC, Colleague Software Ltd., Cornerstone OnDemand Inc., Erecruit, Greenhouse Software Inc., Haufe Group, IBM, iCIMS Inc., ITS Software Systems Ltd., JazzHR, Jobvite Inc., Lumesse, Main Sequence Technology Inc., Microdec Plc, Newton Software Inc., Oracle Corporation, PeopleFluent, Saba Software Inc., SAP SuccessFactors, SumTotal Systems LLC, Swiftpro Limited, Talentsoft, Ultimate Software Group Inc., and Workday Inc., among others.

The research report titled “Recruitment Software - Market Analysis, Trends, and Forecasts” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections in value terms for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK and Rest of Europe), Asia-Pacific, and Rest of World. The report also provides value analytics for the global market by Deployment Type – On-Premise, and SaaS.

Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.

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