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The recruitment software market share is expected to increase by USD 704.26 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.65%.
This recruitment software market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers recruitment software market segmentation by deployment (on-premises and SaaS-based) and geography (North America, Europe, APAC, Middle East and Africa, and South America). The market report also offers information on several market vendors, including Accenture Plc, Automatic Data Processing Inc., Bullhorn Inc., Ceridian HCM Holding Inc., Cognizant Technology Solutions Corp., Cornerstone OnDemand Inc., Greenhouse Software Inc., HireRight Holdings Corp., HireVue Inc., iCIMS Inc., International Business Machines Corp., Jobvite Inc., Lever Inc., Microsoft Corp., Oracle Corp., PowerSchool Holdings Inc., SAP SE, SmartRecruiters Inc., Sterling Infosystems Inc., Workday Inc., and Zoho Corp. Pvt. Ltd. among others.
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Based on our research output, there has been a positive impact on the market growth during and post-COVID-19 era. The enhanced communication capabilities and productivity of recruiters is notably driving the market growth, although factors such as the threat from open-source recruitment software may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the recruitment software industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Recruitment Software Market Driver
Key Recruitment Software Market Trend
Key Recruitment Software Market Challenge
This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global recruitment software market as a part of the global application software market within the global IT software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the market encompasses successful business strategies deployed by the key vendors. The recruitment software market is fragmented and the vendors are deploying growth strategies such as enhancing their product offerings and expanding their geographic reach to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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33% of the market’s growth will originate from Europe during the forecast period. UK, Germany, and France are the key markets for recruitment software in Europe. Market growth in this region will be faster than the growth of the market in the North American, MEA, and South American regions.
The digital business initiatives of enterprises and their need for a central system of employee records will facilitate the market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 in the region resulted in an economic downturn, along with numerous fatalities from the disease in the region. The outbreak of the pandemic led to the temporary shutdown of many well-established and startup businesses in retail, manufacturing, and energy and utility industries. However, the outbreak has also led to the increased adoption of digital business management solutions and services by companies to simplify their business operations. Thus, the market in Europe is expected to witness a high year-over-year growth rate during the forecast period.
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The software market share growth by the on-premises segment will be significant during the forecast period. With SMEs increasingly turning toward SaaS-based recruitment software, the share of the on-premises recruitment software segment is expected to decline during the forecast period. Currently, many large enterprises give prominence to on-premises recruitment software as they can ensure a high level of security with its implementation. Also, there are no third-party service providers involved in managing the confidential information of organizations, as the IT administration staff in the organization have control of the recruitment software.
This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on post-COVID-19 impact on each segment.
Recruitment Software Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.65% |
Market growth 2022-2026 |
$ 704.26 million |
Market structure |
Fragmented |
YoY growth (%) |
4.87 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
Europe at 33% |
Key consumer countries |
US, Australia, UK, Germany, and France |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Accenture Plc, Automatic Data Processing Inc., Bullhorn Inc., Ceridian HCM Holding Inc., Cognizant Technology Solutions Corp., Cornerstone OnDemand Inc., Greenhouse Software Inc., HireRight Holdings Corp., HireVue Inc., iCIMS Inc., International Business Machines Corp., Jobvite Inc., Lever Inc., Microsoft Corp., Oracle Corp., PowerSchool Holdings Inc., SAP SE, SmartRecruiters Inc., Sterling Infosystems Inc., Workday Inc., and Zoho Corp. Pvt. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Deployment
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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