Advancement of and information and communication technology and increasing internet penetration are the key factors witnessed by market professionals to be the key driving forces of global online recruitment market.
The value of the Online Recruitment market is projected to grow to US$ 47315.0 million with an estimated CAGR of 7.1% by 2028
Covid-19 Impact & Market Status
COVID-19大流行疫情有负面的impact on worldwide offline recruitment campaigns. COVID-19 has an impact on hiring procedures in companies all around the world. Businesses had to promptly and innovatively update their hiring procedures because to the pandemic. To tackle the health risks posed by the epidemic, businesses are using remote operations, and they are also changing how they hire new employees. Many businesses have switched from traditional hiring methods to virtual ones by using the appropriate technologies. HR managers are working overtime to modify recruitment strategies in the wake of the outbreak. Fortunately, technology now allows us to reduce vulnerability while still hiring top-notch workers. As a result, organisations are increasingly implementing virtual and online recruitment strategies to safeguard both staff and candidates and reduce the danger of a virus while conducting hiring drives.
永久段了佛r the largest Online Recruitment Market share
According to job type, the global online recruitment market is segmented into part-time and permanent. There are now significantly more persons looking for permanent job as a result of the steadily expanding business sector. There are several advantages to having a permanent employment. Permanent employees enjoy benefits including paid time off, health insurance, and retirement savings plans in addition to solid income and employment security. The easier it is for job seekers looking for permanent employment to identify relevant positions, the more efficient and user-friendly today's recruitment strategies are.
The IT Segment Dominated The Global Online Recruitment Market
根据应用程序,全球在线recruitment market is classified into marketing, finance, sales, IT, engineering and others. Businesses had a double-digit surge in hiring activity in the IT sector, indicating that the sector has largely recovered from the pandemic in terms of jobs. The IT industry is keeping up its upward hiring trend because of a continued need for qualified workers. People are more likely to use web-based recruitment platforms and solutions in the hotel and catering industry, nevertheless.
North America to Lead Global Online recruitment Market
Based on region, the global online recruitment market is segmented into North America, Europe, South America, Middle Ease and Africa, and Asia-Pacific. Growth in the North American area is anticipated to be boosted by the rising use of social media platforms and other online services for recruiting over the course of the forecast period. To further maintain their dominance over the world in terms of technological advancement, the major players in this area are also creating AI technologies. Asia-Pacific is anticipated to hold the second-largest share of the global online recruiting market as a result of the increasing adoption of AI in this region's important nations, including China, Japan, and India, among others.
Increasing penetration of internet usage, growing smartphone preference there has been increasing need of adopting sophisticated recruitment strategies. Online recruitment is playing a vital role in value exchange between job seekers and employers. This is driving the global online recruitment market.
Owing to benefits such as wide geographical reach, speed, lower costs, time and manpower saving strategy, automated process, better interaction with candidates, there has been a transformation of the conventional recruitment methods to online recruitment. This is fostering remarkable progress of global online recruitment market.
Multinational and IT companies using websites to recruit candidates, recruitment service providers, increasing global competition, industries becoming skill sensitive, rising number of competitors making traditional recruitment process tougher are the key factors driving the global online recruitment market.
An increasing number of businesses are using AI to streamline the hiring process. A multitude of technologies, such as interviewing software, candidate relationship management software, and applicant tracking software, are improving the entire online hiring processes globally.
The growth of global online recruitment market is due to digitization of all business operations, including recruiting. The internal business processes and customer interactions of businesses are changing as a result of the digital revolution. Digital transformation often entails the procurement of software and data technologies, such as hiring solutions and online recruitment channels, in order to reduce or eliminate administrative activities and improve operational performance inside departments and amongst hiring teams.
Online recruiting contributes to the accelerated hiring processes that are one of the many advantages of the worldwide online recruitment business. Since the application tracking system (ATS) stores all of the necessary candidate data in one place, online recruiters may quickly screen prospects using ATS solutions. By 2029, the size of the global online recruiting market is anticipated to be USD 48,317million, expanding at a CAGR of 7.12% during the forecast period (2022–2029).
Due to globalization of businesses are adapting to meet their workers' requirements as flexible schedules and work-from-home options are swiftly rising in popularity among benefits expected by job seekers. This has led to an increase of completely remote firms around the world. Because businesses can now access global talent without being restricted by regional borders, companies are encouraging employees to work remotely in order to grow their online talent pool.
The ability for businesses to automate administrative tasks like scheduling interviews or keeping track of applicant paperwork, as well as improved candidate analysis and access to a large pool of applicants, are some additional factors driving the global online recruitment market. Additionally, because everything will be on one page, employers won't have to read a candidate's resume before moving on to their cover letter, portfolio, or evaluation. The aforementioned elements are encouraging businesses worldwide to digitise their hiring procedures, which is boosting the expansion of the global online recruiting market.
Due to the large number of online applicants made possible by the convenience of internet access, hiring managers and employers find it difficult to choose the best candidates while weeding out the unqualified ones. Many applications might be fraudulent in order to gather information about the organisation or the hiring manager, even though spammers can utilise internet data to market a service to businesses through online recruitment. Businesses that post jobs online may do so with a lot of data, which could make it simpler for dishonest hackers to break into the company's IT systems. The expansion of global online recruitment market may be hampered by the aforementioned factors. Furthermore, employers or job givers adopting sophisticated recruitment strategies, increasing penetration of internet usage and smartphone users, online recruitment being acknowledged as the crucial aspect by global job seekers and organisations, stringent regulations reducing online recruitment frauds is anticipated to be growth opportunity to the global online recruitment market.
The top companies in the global online recruitment market include, LinkedIn, Self-Management Group, Pymetrics, HackerRank, Ultimate Software (UltiPro), iCIMS, Monster Worldwide, Jobvite, Ideal, SAP SE, Textio, Recruiterbox, Naukri.com, Zoho Corporation, and TalentLyft. The AI recruitment start-up Talview declared in January 2020 that it had partnered as an integration partner with LinkedIn's Talent Hub applicant tracking tool. Businesses can now source, manage, and hire candidates from a single source thanks to the integration of Talview's live interviewing services into the LinkedIn Talent Hub experience.
Latest Innovations in the Global Online Recruitment Market: a Snapshot
- In 2020, recruitment software provider Tribepad and marketing and advertising firm WeLove9am have joined forces, the companies announced. The collaboration seeks to let Signature Senior Lifestyle Care Homes' customers have a simple online application procedure.
Online Recruitment Market Scope
Metrics | Details |
Base Year | 2022 |
Historic Data | 2018-2019 |
Forecast Period | 2022 - 2028 |
Study Period | 2018-2028 |
Forecast Unit | Value (USD) |
Revenue forecast in 2028 | US$ 47315.0 million |
Growth Rate | CAGR of 7.1 % during 2018-2028 |
Segment Covered | Job Type, Deployment Application, Regions |
Regions Covered | North America, Europe, Asia Pacific, Middle East and Africa, South America |
Key Players Profiled | LinkedIn, Self-Management Group, Pymetrics, HackerRank, Ultimate Software (UltiPro), iCIMS, Monster Worldwide, Jobvite, Ideal, SAP SE, Textio, Recruiterbox, Naukri.com, Zoho Corporation |
Key Segments of the Global Online Recruitment Market
Job Type Overview (USD Million)
- Part-time
- Permanent
Deployment Application (USD Million)
- Finance
- Marketing
- Sales
- Engineering
- IT
- Hotel and Catering
- Others
Regional Overview (USD Million)
North America
- U.S
- Canada
Europe
- Germany
- France
- UK
- Rest of Europe
亚太地区
- China
- India
- Japan
- Rest of Asia Pacific
南美
- Mexico
- Brazil
- Rest of South America
Middle East and South Africa