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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.
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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.
List of the Companies Profiled in the Market:
Further Report Findings:
Table of Segmentation:
Value (USD Billion)
Type; Application; and Geography