Recruitment Software Market by Deployment and Geography - Forecast and Analysis 2022-2026

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.

What will the Recruitment Software Market Size be During the Forecast Period?

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Recruitment Software Market: Key Drivers, Trends, and Challenges

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

• One of the key factors driving growth in the market growth is the enhanced communication capabilities and productivity of recruiters.
  • The Talent Acquisition Experience Platform from Lumesse
  • IBM Kenexa Talent Acquisition Suite from IBM
• Recruitment software helps enterprises in filtering, ranking, and store the data of applicants instantly.
• The software also makes tracking the progress of the application simpler and more efficient as it automates the process of posting jobs in various job portals.
• The recruitment software also helps recruiters to keep track of all the people who have applied, the candidates who were rejected, and the job positions that have been filled.
• These features help in analyzing the inefficiencies in the process, thus aiding the HRs in the recruitment process. Thus, such factors will drive the adoption of will recruitment software during the forecast period

Key Recruitment Software Market Trend

• The rise in mergers and acquisitions is a market trend that is expected to have a positive impact in the coming years.
• This is attributed to the increase in demand for recruitment software to expand their market reach and increase the customer base.
  • In February 2020, iCIMS, Inc. announced its partnership with Ceridian's Dayforce Software Partner Program (DSPP). iCIMS and Ceridian planned to offer integration between iCIMS' best-in-class talent platform and Ceridian's human capital management platform.
  • In October 2021, Bullhorn inc. partnered with PIXID Group, a European-owned recruitment technology provider. 
• Thus, the significant increase in strategic partnerships, joint ventures, and acquisitions will drive market growth through this segment in the forecast years.

Key Recruitment Software Market Challenge

• The threat from open-source recruitment software will be a major challenge for the market.
• Open-source recruitment software can be downloaded and run on all platforms, and thus, it is becoming increasingly popular in developing economies such as India and China.
• The open-source recruitment software ensures that enterprises incur fewer upfront costs and provides them with more flexibility as well. 
  • Security, a product that was developed as a joint venture between Intermesh and Searches and Co Group, is not only free but can also be customized according to the end-user enterprise's requirements.
• Open-source recruitment software such as Fastcollab, Winrecruit,  and Zoho Recruit can be easily downloaded to the enterprise's servers for better security and ease of use.
• Thus, the availability of open-source recruitment software may limit the market growth in the coming years.

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.

Parent Market Analysis

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.

Who are the Major Recruitment Software Market Vendors?

The report analyzes the market’s competitive landscape and 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.
• Zoho Corp. Pvt. Ltd.

 

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.

Product Insights and News

• ceridian.com - The company offers recruitment software such as the Oracle Human Capital Management Cloud solution that allows converting active employee records from multiple legacy sources to a single global HR system.
• ceridian.com - Under the unified segment, the company operates and reports in a single segment that offers human capital management software solutions.

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.

Recruitment Software Market Value Chain Analysis

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.

Which are the Key Regions for Recruitment Software Market?

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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.

What are the Revenue-generating Deployment Segments in the Recruitment Software Market?

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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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What are the Key Data Covered in this Recruitment Software Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive recruitment software market growth during the next five years
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the recruitment software industry across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of software market vendors

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