The global Recruiting Automation Software Market was valued at around USD 496.8 Million in 2021. With a projected CAGR of 2.7% for the next ten years, the market is likely to reach a valuation of nearly USD 660 Million by the end of 2032.
| Attributes | Details |
|---|---|
| Global Recruiting Automation Software Market Size (2021A) | USD 496.8 Million |
| Global Estimated Market Value (2022) | USD 507 Million |
| Global Forecasted Market Value (2032) | USD 660 Million |
| Global Market Growth Rate (2022 to 2032) | 2.7% CAGR |
| United States Growth Rate(2022 to 2032) | 2.5% CAGR |
| Key Companies Covered | Zoho; Recruit; LinkedIn Talent; Indeed; Hiretual; SmartRecruiters; Samanage Ltd.,; Entelo; Dice; Beamery; CareerBuilder; JobDiva; JazzHR; Greenhouse; Bullhorn; ZipRecruiter |
Future Market Insights’ analysis reveals that the larger proportion of the market revenue is grossed from On-Premise Recruiting Automation software, which is forecasted to grow at a CAGR of 2.5% from 2022 to 2032. With the use of recruiting automation software, companies can improve on the management, tracking, and communications with a larger number of candidates.
The global market for Recruiting Automation software witnessed a CAGR of 1.9% over the last seven years (2015 to 2021). The global market is predicted to surge at a CAGR of 2.7% and record sales worth USD660 Million by the end of 2032.
Efficiency and cost benefits, as well as a large pool of applicants, are driving companies to automate their recruitment processes
According to a survey conducted among executives at companies with over 1,000 employees, 62% of employers admitted that they are having trouble dealing with the current labor shortage. Over 78% of the survey participants mentioned that they are both willing and trying to invest in automation to combat this. Inefficient recruitment can greatly hamper a company’s growth, with 40% of CFOs saying that skills shortages are the key deterrent to achieving their goals. Recruiting software is essential to combat these issues since automation of functions like sourcing, screening and the creation of a talent pool can ensure recruiters can find the best possible talent a company needs.
Companies are looking to harness the benefits of automating their recruitment processes through recruitment automation software. Through this software, companies can reduce time spent on mundane tasks like sending mass emails, updating candidates on their progress, and scheduling meetings and interviews. The software also enables and enhances the possibility of recruitment analytics, which can help in making key decisions and improves communication and collaboration both within and across different people that are involved in the recruitment process.
They can also keep track of past applicants and create a rich talent pool. Using this technology, past applicants who showed potential can automatically seek once specific openings suitable to their qualifications will arise. The resultant reduction in costs, improvement in the acquisition of quality talent, and improvement in the time taken for these processes mean that this software is gaining traction.
Emerging talent highly prefers companies that have efficient and up-to-date recruitment processes
According to the USA Census Bureau, Generation Z accounts for 20.3% of the USA population. Studies find that GenZ has a high preference for up-to-date recruitment technology, with 54% saying they would drop out of the application process of companies with outdated methods. They also value relationships with recruiters; with most claiming it has a significant influence on whether they accept job offers.
Out of the respondents to the study, 82% of them believed that a recruitment process should be completed within 2 weeks. Companies who want to hire emerging talent are looking for ways to meet these demands, with the best solution being the adoption of automated recruiting software. This is a significant booster for demand and is expected to continue as GenZ talent enters the workforce.
AI systems that automate mundane processes ensure recruiters can focus on what is important
Using AI, mundane tasks can easily be automated to reduce pressure on recruiting teams. Through this, recruiters can focus more on important tasks, such as skill assessment and personal communication. Using AI, recruiters can reach out to the best possible candidates with factors such as skill level, location, education, and experience.
This process facilitates the mitigation of bias from the initial stages of the recruitment process and provides significant levels of data, which can be used to analyze efficiency and learn from it to make future decisions. Technologies like predictive analytics are also emerging as a solution. Using machine learning technology, companies can factor in data like performance, demography, skillsets, and roles to match a candidate with the best possible role.
Reduction of time spent on mundane tasks and initial processing ensures recruiters are doing their best possible work
A recent survey indicates that 75% of hiring teams predict that hiring in the upcoming years will be challenging, while 84% report burnout due to work. Technology and the automation of recruitment and hiring are essential to enhance the work environment for recruiters. Positive work experience for recruiters is vital to the successful acquisition of talent since they form the core of the functioning of any recruiting process.
According to research, 50% of recruiters would shift companies if the other one had better recruiting software. For this process to function smoothly, employers are looking at harnessing the advantages of software. Recruiters can harness technology to filter through the massive stream of applicants with intelligence platforms and tools like score and rank technologies. When tasks like scheduling, responding to routine or frequently asked questions and basic screening are assigned to automatic software; recruiters can add significant value to their companies. For example, research finds that AI recruiting assistants can reduce nearly 16 hours of work each week for a recruiter.
Large enterprises continue to contribute the most, however small and medium companies can also benefit from adapted versions of Recruiting Automation Software
Large enterprises are the key contributors to demand, with a CAGR of 1.1% from 2015 to 2022 and a forecasted CAGR of 2.3% in the forecast period of 2022 to 2032. This is large because large enterprises have a significantly higher number of candidates and applicants. They also tend to have a larger number of employees and job openings. They benefit greatly from the collaboration possibilities this software provides, with the ability to share data across teams, and with managers. While Small and Medium Businesses also benefit from the automation of recruiting software, they may not require some of the features it provides on a larger scale and can thus avail of cheaper versions with limited features.
Europe is an emerging center for demand or recruiting automation software and remains the leader with a 25.2% market share in 2021 and a predicted market size of USD 166.3 Million by 2032. According to a study conducted in European countries, it takes a candidate an average of 6 minutes and 11 seconds to apply to major jobs, with an average of 27 clicks in 2021 as compared to 41 in 2019. The integrations with social media enabled by the software are showing growth, with 47% of companies in 2021 having an application accessible through social media as compared to 18% in 2019.
The USA accounted for over 35% of the global Recruiting Automation Software Market in 2021. North America and the US have large amounts of consumer expenditure. The USA is also home to large companies, which have both large volumes of applicants as well as a large number of job openings. The USA is expected to account for a USD 51 Million absolute dollar opportunity between 2022 and 2032 and a forecasted market size of USD 235.5 Million by 2032.
On-Premise Automation is currently the leading type of Recruiting automation Software, with a CAGR of 1.4% from 2015 to 2021 and a forecasted CAGR of 2.5% from 2022 to 2032. They are preferred by organizations that require specific, tailored systems and the security benefits of having only the required teams accessing the system as well as the ability to control for any complications since the control remains internal. For these reasons, the companies are willing to pay higher costs associated with On-Premise Software.
At present, Recruiting Automation Software providers are focused on developments that will ensure further simplification of mundane processes, as well as automation of initial tests and screenings. The key companies operating in the market include Zoho, Recruit, LinkedIn Talent, Indeed, Hiretual, SmartRecruiters, Samanage Ltd., Entelo, Dice, Beamery, CareerBuilder, JobDiva, JazzHR, Greenhouse, Bullhorn, ZipRecruiter.
Some of the recent development in Recruiting Automation Software are as follows:
Similarly, the team at Future Market Insights has tracked recent developments related to Recruiting Automation Software companies, which is available in the full report.
Table 1: Global Market Value (US$ Million), By Application, 2015 to 2021
Table 2: Global Market Value (US$ Million), By Application, 2022 to 2032
Table 3: Global Market Value (US$ Million), By Type, 2015 to 2021
Table 4: Global Market Value (US$ Million), By Type, 2022 to 2032
Table 5: Global Market, By Region, 2015 to 2021
Table 6: Global Market, By Region, 2022 to 2032
Table 7: North America Market Value (US$ Million), By Application, 2015 to 2021
Table 8: North America Market Value (US$ Million), By Application, 2022 to 2032
Table 9: North America Market Value (US$ Million), By Type, 2015 to 2021
Table 10: North America Market Value (US$ Million), By Type, 2022 to 2032
Table 11: North America Market, By Country, 2015 to 2021
Table 12: North America Market, By Country, 2022 to 2032
Table 13: Latin America Market Value (US$ Million), By Application, 2015 to 2021
Table 14: Latin America Market Value (US$ Million), By Application, 2022 to 2032
Table 15: Latin America Market Value (US$ Million), By Type, 2015 to 2021
Table 16: Latin America Market Value (US$ Million), By Type, 2022 to 2032
Table 17: Latin America Market, By Country, 2015 to 2021
Table 18: Latin America Market, By Country, 2022 to 2032
Table 19: Europe Market Value (US$ Million), By Application, 2015 to 2021
Table 20: Europe Market Value (US$ Million), By Application, 2022 to 2032
Table 21: Europe Market Value (US$ Million), By Type, 2015 to 2021
Table 22: Europe Market Value (US$ Million), By Type, 2022 to 2032
Table 23: Europe Market, By Country, 2015 to 2021
Table 24: Europe Market, By Country, 2022 to 2032
Table 25: Asia Pacific Market Value (US$ Million), By Application, 2015 to 2021
Table 26: Asia Pacific Market Value (US$ Million), By Application, 2022 to 2032
Table 27: Asia Pacific Market Value (US$ Million), By Type, 2015 to 2021
Table 28: Asia Pacific Market Value (US$ Million), By Type, 2022 to 2032
Table 29: Asia Pacific Market, By Country, 2015 to 2021
Table 30: Asia Pacific Market, By Country, 2022 to 2032
Table 31: Middle East and Africa Market Value (US$ Million), By Application, 2015 to 2021
Table 32: Middle East and Africa Market Value (US$ Million), By Application, 2022 to 2032
Table 33: Middle East and Africa Market Value (US$ Million), By Type, 2015 to 2021
Table 34: Middle East and Africa Market Value (US$ Million), By Type, 2022 to 2032
Table 35: Middle East and Africa Market, By Country, 2015 to 2021
Table 36: Middle East and Africa Market, By Country, 2022 to 2032
Table 37: Global Market Incremental Opportunity, By Application, 2015 to 2021
Table 38: Global Market Incremental Opportunity, By Type, 2022 to 2032
Table 39: Global Market Incremental Opportunity, By Region, 2022 to 2032
Table 40: North America Market Incremental Opportunity, By Application, 2015 to 2021
Table 41: North America Market Incremental Opportunity, By Type, 2022 to 2032
Table 42: North America Market Incremental Opportunity, By Country, 2022 to 2032
Table 43: Latin America Market Incremental Opportunity, By Application, 2015 to 2021
Table 44: Latin America Market Incremental Opportunity, By Type, 2022 to 2032
Table 45: Latin America Market Incremental Opportunity, By Country, 2022 to 2032
Table 46: Europe Market Incremental Opportunity, By Application, 2015 to 2021
Table 47: Europe Market Incremental Opportunity, By Type, 2022 to 2032
Table 48: Europe Market Incremental Opportunity, By Country, 2022 to 2032
Table 49: Asia Pacific Market Incremental Opportunity, By Application, 2015 to 2021
Table 50: Asia Pacific Market Incremental Opportunity, By Type, 2022 to 2032
Table 51: Asia Pacific Market Incremental Opportunity, By Country, 2022 to 2032
Table 52: Middle East and Africa Market Incremental Opportunity, By Application, 2015 to 2021
Table 53: Middle East and Africa Market Incremental Opportunity, By Type, 2022 to 2032
Table 54: Middle East and Africa Market Incremental Opportunity, By Country, 2022 to 2032
Figure 1: Global Market Value (US$ Million) and Year-on-Year Growth, 2015 to 2032
Figure 2: Global Market Absolute Historical Gain (2015 to 2021) and Opportunity (2022 to 2032), US$ Million
Figure 3: Global Market Share, By Application, 2022 & 2032
Figure 4: Global Market Y-o-Y Growth Projections, By Application - 2022 to 2032
Figure 5: Global Market Attractiveness Index, By Application - 2022 to 2032
Figure 6: Global Market Share, By Type, 2022 & 2032
Figure 7: Global Market Y-o-Y Growth Projections, By Type - 2022 to 2032
Figure 8: Global Market Attractiveness Index, By Type - 2022 to 2032
Figure 9: Global Market Share, By Region, 2022 & 2032
Figure 10: Global Market Y-o-Y Growth Projections, By Region - 2022 to 2032
Figure 11: Global Market Attractiveness Index, By Region - 2022 to 2032
Figure 12: North America Market Value (US$ Million) and Year-on-Year Growth, 2015 to 2032
Figure 13: North America Market Absolute Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Million
Figure 14: North America Market Share, By Application, 2022 & 2032
Figure 15: North America Market Y-o-Y Growth Projections, By Application - 2022 to 2032
Figure 16: North America Market Attractiveness Index, By Application - 2022 to 2032
Figure 17: North America Market Share, By Type, 2022 & 2032
Figure 18: North America Market Y-o-Y Growth Projections, By Type - 2022 to 2032
Figure 19: North America Market Attractiveness Index, By Type - 2022 to 2032
Figure 20: North America Market Share, By Country, 2022 & 2032
Figure 21: North America Market Y-o-Y Growth Projections, By Country - 2022 to 2032
Figure 22: North America Market Attractiveness Index, By Country - 2022 to 2032
Figure 23: Latin America Market Value (US$ Million) and Year-on-Year Growth, 2015 to 2032
Figure 24: Latin America Market Absolute Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Million
Figure 25: Latin America Market Share, By Application, 2022 & 2032
Figure 26: Latin America Market Y-o-Y Growth Projections, By Application - 2022 to 2032
Figure 27: Latin America Market Attractiveness Index, By Application - 2022 to 2032
Figure 28: Latin America Market Share, By Type, 2022 & 2032
Figure 29: Latin America Market Y-o-Y Growth Projections, By Type - 2022 to 2032
Figure 30: Latin America Market Attractiveness Index, By Type - 2022 to 2032
Figure 31: Latin America Market Share, By Country, 2022 & 2032
Figure 32: Latin America Market Y-o-Y Growth Projections, By Country - 2022 to 2032
Figure 33: Latin America Market Attractiveness Index, By Country - 2022 to 2032
Figure 34: Europe Market Value (US$ Million) and Year-on-Year Growth, 2015 to 2032
Figure 35: Europe Market Absolute Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Million
Figure 36: Europe Market Share, By Application, 2022 & 2032
Figure 37: Europe Market Y-o-Y Growth Projections, By Application - 2022 to 2032
Figure 38: Europe Market Attractiveness Index, By Application - 2022 to 2032
Figure 39: Europe Market Share, By Type, 2022 & 2032
Figure 40: Europe Market Y-o-Y Growth Projections, By Type - 2022 to 2032
Figure 41: Europe Market Attractiveness Index, By Type - 2022 to 2032
Figure 42: Europe Market Share, By Country, 2022 & 2032
Figure 43: Europe Market Y-o-Y Growth Projections, By Country - 2022 to 2032
Figure 44: Europe Market Attractiveness Index, By Country - 2022 to 2032
Figure 45: Middle East and Africa Market Value (US$ Million) and Year-on-Year Growth, 2015 to 2032
Figure 46: Middle East and Africa Market Absolute Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Million
Figure 47: Middle East and Africa Market Share, By Application, 2022 & 2032
Figure 48: Middle East and Africa Market Y-o-Y Growth Projections, By Application - 2022 to 2032
Figure 49: Middle East and Africa Market Attractiveness Index, By Application - 2022 to 2032
Figure 50: Middle East and Africa Market Share, By Type, 2022 & 2032
Figure 51: Middle East and Africa Market Y-o-Y Growth Projections, By Type - 2022 to 2032
Figure 52: Middle East and Africa Market Attractiveness Index, By Type - 2022 to 2032
Figure 53: Middle East and Africa Market Share, By Country, 2022 & 2032
Figure 54: Middle East and Africa Market Y-o-Y Growth Projections, By Country - 2022 to 2032
Figure 55: Middle East and Africa Market Attractiveness Index, By Country - 2022 to 2032
Figure 56: Asia Pacific Market Value (US$ Million) and Year-on-Year Growth, 2015 to 2032
Figure 57: Asia Pacific Market Absolute Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Million
Figure 58: Asia Pacific Market Share, By Application, 2022 & 2032
Figure 59: Asia Pacific Market Y-o-Y Growth Projections, By Application - 2022 to 2032
Figure 60: Asia Pacific Market Attractiveness Index, By Application - 2022 to 2032
Figure 61: Asia Pacific Market Share, By Type, 2022 & 2032
Figure 62: Asia Pacific Market Y-o-Y Growth Projections, By Type - 2022 to 2032
Figure 63: Asia Pacific Market Attractiveness Index, By Type - 2022 to 2032
Figure 64: Asia Pacific Market Share, By Country, 2022 & 2032
Figure 65: Asia Pacific Market Y-o-Y Growth Projections, By Country - 2022 to 2032
Figure 66: Asia Pacific Market Attractiveness Index, By Country - 2022 to 2032
Figure 67: United States of America Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 68: United States of America Market Share, By Application, 2021
Figure 69: United States of America Market Share, By Type, 2021
Figure 70: Canada Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 71: Canada Market Share, By Application, 2021
Figure 72: Canada Market Share, By Type, 2021
Figure 73: Brazil Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 74: Brazil Market Share, By Application, 2021
Figure 75: Brazil Market Share, By Type, 2021
Figure 76: Mexico Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 77: Mexico Market Share, By Application, 2021
Figure 78: Mexico Market Share, By Type, 2021
Figure 79: Germany Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 80: Germany Market Share, By Application, 2021
Figure 81: Germany Market Share, By Type, 2021
Figure 82: United Kingdom Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 83: United Kingdom Market Share, By Application, 2021
Figure 84: United Kingdom Market Share, By Type, 2021
Figure 85: France Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 86: France Market Share, By Application, 2021
Figure 87: France Market Share, By Type, 2021
Figure 88: Italy Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 89: Italy Market Share, By Application, 2021
Figure 90: Italy Market Share, By Type, 2021
Figure 91: BENELUX Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 92: BENELUX Market Share, By Application, 2021
Figure 93: BENELUX Market Share, By Type, 2021
Figure 94: Nordic Countries Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 95: Nordic Countries Market Share, By Application, 2021
Figure 96: Nordic Countries Market Share, By Type, 2021
Figure 97: China Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 98: China Market Share, By Application, 2021
Figure 99: China Market Share, By Type, 2021
Figure 100: Japan Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 101: Japan Market Share, By Application, 2021
Figure 102: Japan Market Share, By Type, 2021
Figure 103: South Korea Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 104: South Korea Market Share, By Application, 2021
Figure 105: South Korea Market Share, By Type, 2021
Figure 106: GCC Countries Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 107: GCC Countries Market Share, By Application, 2021
Figure 108: GCC Countries Market Share, By Type, 2021
Figure 109: South Africa Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 110: South Africa Market Share, By Application, 2021
Figure 111: South Africa Market Share, By Type, 2021
Figure 112: Turkey Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 113: Turkey Market Share, By Application, 2021
Figure 114: Turkey Market Share, By Type, 2021
The global Recruiting Automation Software market was valued at USD 496.8 Million in 2021.
The Recruiting Automation Software industry is set to witness a growth rate of 2.7% over the forecast period and be valued at USD 660 Million by 2032.
The Recruiting Automation Software Market expanded by 1.9% from 2015 to 2021.
Zoho, Recruit, LinkedIn Talent, Indeed, Hiretual, and SmartRecruiter are some of the key players.
The USA, UK, China, Japan, and South Korea are the key drivers of recruiting automation software sales.
The market in the US accounts for more than 35% of the global market.
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Recruiting Automation Software Market
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