Press Release
Press Release
According to a new report by EMR titled, ‘The Global Recruitment Software Market Report and Forecast 2024-2032’, the market attained a value of above USD 2.20 billion in 2023. The market is estimated to grow at a CAGR of 6.3% between 2024 and 2032 to reach USD 3.81 billion by 2032.
The global recruitment software market growth is driven by the increasing demand for recruitment software and services with rising automatin of the hiring procedure by organisations to reduce the overall time of the process. The market is propelled by rapid digitization and the integration of advanced software to facilitate remote hiring and support distributed workforce models. Recruitment software optimises hiring processes for managers, recruiters, and talent acquisition professionals, enhancing recruitment workflows to attract and onboard talented applicants efficiently.
The adoption of cloud-based solutions presents new opportunities in the market. Cloud services enable recruiters to efficiently connect qualified candidates with job openings and leverage technology for targeted outreach. Today's recruitment processes are data-driven and focused, eliminating the need for cold calls. Cloud solutions empower recruiters to manage candidate data effectively, streamline workflows, and access recruitment tools seamlessly.
The market is poised for significant growth driven by the need for efficient hiring processes across industries. Organisations prioritise finding talented candidates that meet industry-specific requirements, spurring demand for automated recruitment solutions. These systems manage high volumes of applicants effectively, offering features like resume parsing and applicant tracking. Recruitment software streamlines operations, enhances team collaboration, and boosts outcomes while saving time and reducing administrative burdens.
Advancements in machine learning and AI are boosting the demand for recruitment software, with AI algorithms enhancing candidate matching and retention predictions. Future innovations in recruitment software include advanced analytics for measuring recruiting metrics, blockchain for verification, and mobile-friendly recruitment apps, promising increased market value and efficiency.
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The major players in the global recruitment software market are Ceridian HCM Holding, Inc., Oracle Corporation, Cornerstone, Kronos Incorporated., and SAP SE, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Component |
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Breakup by Enterprise Size |
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Breakup by Industry |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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