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Online Recruitment Market to Hit $43.39 Billion by 2027; Increasing Need for Automation in Recruitment Process to Stimulate Growth

October 27, 2020 | Information & Technology

The global online recruitment market size is expected to reach USD 43.39 billion by 2027 backed by the increasing demand for automation process in recruitment industry to facilitate smooth functioning of online type of recruitment applications globally. This information is published by Fortune Business Insights, in its latest report, titled, “Online Recruitment Market Size, Share & COVID-19 Impact Analysis, By Type (Permanent Online Recruitment, Part Time Online Recruitment), By Application (Secretarial/ Clerical, Accounting/ Financial, Computing, Technical/ Engineering, Professional/ Managerial, Nursing/ Medical/ Care, Hotel/ Catering, Sales/ Marketing, Other Industrial/ Blue Collar) and Regional Forecast, 2020 – 2027.” The report further mentions that the market stood at USD 28.68 billion in 2019 and is projected to exhibit a CAGR of 7.1% between 2020 and 2027.


Zoho Upgrades its Zoho Recruit Career Site to Cater to Needs of Corporate HRs


In June 2020, Zoho announced the upgradation of its Zoho Recruit site that was launched way back in 2009. The company has witnessed tremendous success along its journey with over 6000 companies on-board favoring the online recruitment process. To cater to the evolving market dynamics, they have upgraded the site by redesigning their framework to reduce load and page response time for job listings, site redirections, and others. Additionally, the site leverages the opportunities provided by the social media platforms by allowing the companies to add their Twitter, Facebook, and LinkedIn accounts on their site interface.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/online-recruitment-market-103730


The companies such as Zoho are focusing on providing a smarter, faster, and advanced online processes that will drive the market growth during the forecast period.


Increasing Demand for Automation in Online Recruitment Process to Augment Growth


The traditional recruitment process is generally a time and money-consuming process. To boost their productivity, the companies are adopting cost-effective approaches such as online recruitment over traditional methods. The growing demand for automation to produce an adequate pool of applicants, the agencies are adopting automation solutions in the recruitment process to maintain an user-friendly, easy-to-use recruiting online platforms. This is expected to contribute to the growth of the global market in the forthcoming years.


Product Innovations by Major Companies to Boost Sales Revenue & Expand Horizon


The global online recruitment market is consolidated by the presence of major companies that are focusing on developing advanced online type of recruitment solutions to expedite the interview processes and improve efficiency. The other key players are adopting strategies such as partnership, merger and acquisition, and collaboration to gain a major chunk of the market share and further expand their horizon that will contribute to the growth of the market during the forecast period.


Industry Development



  • April 2020 – Hallmark Solutions, a leading HR software provider, announced the launch of its new system, GetGot. According to the company, the new system is primarily designed to aid recruitment agencies to post online jobs and enable applicants to apply online, thereby, ensuring a hassle-free online type of recruitment process.


List of the Companies Profiled in the Market:



  • LinkedIn (California, United States)

  • Naukri.com (Noida, India)

  • TalentLyft (Croatia, Europe)

  • Zoho Corporation Pvt. Ltd. (Chennai, India)

  • Indeed (Texas, United States)

  • HackerRank  (California, United States)

  • Self Management Group (Canada, United States)

  • Pymetrics (New York, United States)

  • iCIMS (New Jersey, United States)

  • Ultimate Software (UltiPro) (Florida, United States)

  • Monster Worldwide, Inc. (Monster.com) (Massachusetts, United States)

  • Jobvite, Inc. (California, United States)

  • Ideal (Ontario, United States)

  • Textio (Washington, United States)

  • SAP SE (Walldorf, Germany)

  • Recruiterbox Inc (Seattle, United States)

  • Recruitee.com (Amsterdam, Europe)

  • BambooHR LLC (United States, North America)

  • CEIPAL Corp. (Rochester, United States)

  • iSmartRecruit (New Jersey, United States)


Further Report Findings:



  • North America is expected to hold the highest position in the global market during the forecast period. This is attributable to the adoption of advanced technologies such as AI, the internet of things (IoT), and others by the recruitment agencies to search and scan potential candidates. The region stood at USD 11.49 billion in 2019.

  • The market in Asia-Pacific is expected to experience a significant growth backed by the presence of a majority of workforce in countries such as India and China that favor the demand for e-recruitment process between 2020 and 2027.

  • The hotel/catering segment, based on industry, is anticipated to showcase an exponential growth owing to the availability of a large number of jobs across the hospitality industry that fuels the growth of the market. The segment held a market share of about 20.5% in 2019.


Table of Segmentation:














































 ATTRIBUTES



 DETAILS



Study Period



   2016-2027



Base Year



   2019



Forecast Period



   2020-2027



Historical Period



   2016-2018



Unit



   Value (USD Billion)



Segmentation



   Type; Application; and Geography



By Type


 




  • Permanent Online Recruitment

  • Part-Time Online Recruitment



 


By Application


 




  • Secretarial/Clerical

  • Accounting/Financial

  • Computing

  • Technical/Engineering

  • Professional/Managerial

  • Nursing/Medical/Care

  • Hotel/Catering

  • Sales/Marketing

  • Other Industrial/Blue Collar



By Geography


 




  • North America

    • The U.S.

      • By Application



    • Canada

      • By Application



    • By Type

      • By Application



    • By Country



  • Europe

    • The U.K.

      • By Application



    • Germany

      • By Application



    • France

      • By Application



    • Rest of Europe

      • By Type

      • By Application



    • By Country



  • Asia Pacific

    • China

      • By Application



    • Japan

      • By Application



    • India

      • By Application



    • Southeast Asia

      • By Application



    • Rest of Asia Pacific

      • By Type

      • By Application



    • By Country



  • Middle East & Africa

    • GCC

      • By Application



    • South Africa

      • By Application



    • Rest of Middle East & Africa

      • By Type

      • By Application



    • By Country



  • Latin America

    • Mexico

      • By Application



    • Brazil

      • By Application



    • By Type

      • By Application



    • By Country

    • Rest of Latin America




Global Online Recruitment Market
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  • 2016-2018
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