Global Recruiting Automation Software Market was valued at US$ 496.8 Mn in 2021 and is expected to reach US$ 660 Mn by 2032, finds Future Market Insights (FMI) in a recent market survey. As per the findings of the report, On-premise Recruiting Automation software will remain pivotal for the market as the bulk of revenue will be generated through this category.
Large Companies to continue being Growth Axis for Recruiting Automation Software Revenue
Large enterprises have a significantly larger number of both applicants and job openings. They benefit significantly from the collaborative and analytical benefits offered by recruiting automation software.
Revenue through large enterprises witnessed a CAGR of 1.1% in 2015-2021, while during the forecast period it is predicted to grow at 2.3%. While Small and Medium companies might not require the same number of features, they can also benefit from cheaper software from companies catered specifically to them.
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Efficiency and Cost benefits are encouraging the demand for automation software.
Companies are adapting recruiting software since the automation of mundane processes and functions like sourcing, screening and the creation of a rich talent can enable the best value from recruiters. Recruiting Automation Software also enhance recruitment analytics for future use.
GenZ entering the workforce has led to employers having to adapt to candidate who look for quick and up-to-date processes.
Research finds that GenZ look for companies that have timely, communicative, multi-platform recruiting processes. They are driven by the creation of valuable interactions with recruiters. Companies who want to tap into the emerging talent are looking to the adoption of automated recruiting software.
“Recruiting Automation software providers are closely working on harnessing new technologies to reduce the burden on recruiters and meet the demands of the emerging workforce.” comments an analyst at Future Market Insights.
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Recruiting Automation Software Market: Competition Insights
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 include Zoho, Recruit, LinkedIn Talent, Indeed, Hiretual, SmartRecruiters, Samanage Ltd., Entelo, Dice, Beamery, CareerBuilder, JobDiva, JazzHR, Greenhouse, Bullhorn, and ZipRecruiter.
Some of the recent development in Recruiting Automation Software are as follows:
- In May 2022, Fetcher, a talent acquisition and Recruiting Automation platform, underwent Series B funding, raising US $27 Million and bringing the total amount raised to US $40 Million.
- In January 2022, South Korean HR platform flex Underwent Series B funding, raising US $32 Million with the total amount raised being US$ 42 Million. Flex plans to use the funding to advance HR and recruitment automation.
- In August 2020, Loxo, a provider of AI based recruitment automation software launched the next generation of their recruiting CRM and a new product named “deals”, which is designed for RPOs, recruiting agencies and executives.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Recruiting Automation Software Market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Recruiting Automation Software Market by Type (Software-Defined Networking, Software-Defined Wide Area Network, Software-Defined Data Center, Software-Defined Storage, Software-Defined Data Center Networking), End-User (Service Provider, Enterprises), Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa).
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Key Segments Covered In Recruiting Automation Software Industry Survey
Recruiting Automation Market by Type:
- Cloud-Based Recruiting Automation Software
- On-Premise Recruiting Automation Software
Recruiting Automation Software Market by Application:
- Large Companies
- Small and Medium Companies
Recruiting Automation Software Market by Region:
- North America Recruiting Automation Software Market
- Europe Recruiting Automation Software Market
- Asia Pacific Recruiting Automation Software Market
- Middle East & Africa Recruiting Automation Software Market
- Latin America Recruiting Automation Software Market
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