Brazil Recruitment Software Market Report and Forecast 2024-2032

Brazil Recruitment Software Market Size

The Brazil recruitment software market is projected to grow at a CAGR of 6.6% between 2024 and 2032. Technological advancements and innovations are driving the market in Brazil.

Brazil Recruitment Software Market Outlook

• In December of 2023, the employment rate in Brazil peaked at 57.60%, marking an all-time high.

• Brazil has the largest talent pool in Latin America's tech sector, with approximately 760,000 software developers, according to data from LinkedIn.

• In 2021, there were approximately 13.2 million individual micro entrepreneurs (MEIs) in Brazil, representing 69.7% of all companies and organisations, and 19.2% of formally employed individuals.

Brazil Recruitment Software Market Growth

The IT and telecommunications sector is a significant consumer of recruitment software in Brazil. The Brazilian Information Technology (IT) sector reached a value of USD 45.2 billion in 2022, showing a 3% increase from the previous year, as indicated by the 2023 Brazil Predictions study from the International Data Corporation (IDC) and a report from the Brazilian Association of Software Companies (ABES). Brazil holds the 12th position in the global IT market and accounts for 36.5% of the Latin American market.

The market is witnessing substantial expansion due to technological advancements, the rising need for streamlined hiring procedures, and the integration of digital HR solutions. Moreover, companies in Brazil are progressively embracing technology to enhance their HR operations. Recruitment software plays a crucial role in automating different stages of recruitment, such as job postings and employee onboarding, thereby improving the efficiency and effectiveness of the recruitment process.

Jobecam, a Brazilian startup, is at the forefront of revolutionising recruitment by leveraging artificial intelligence to eradicate biases. The company conducts business in Brazil and various Latin American markets, such as Colombia, Mexico, and Chile, with clients like consulting firm Accenture and pharmaceuticals group Novo Nordisk in its portfolio. Through the utilisation of AI and machine learning, the platform effectively ranks candidates based on their suitability for the job.

Brazil Recruitment Software Industry Segmentation

“Brazil Recruitment Software Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Component

• Software

• Services

Market Breakup by Deployment

• On Premises

• Cloud

Market Breakup by Enterprise Size

• Small and Medium-Sized Enterprises

• Large Enterprises

Market Breakup by End Use

• Retail

• IT and Telecom

• BFSI

• Manufacturing

• Healthcare

• Others

Market Breakup by Region

• São Paulo

• Minas Gerais

• Rio de Janeiro

• Bahia

• Rio Grande do Sul

Brazil Recruitment Software Market Share

Based on the end use, the market is segmented into retail, IT and telecom, BFSI, manufacturing, and healthcare, among others. The retail sector is projected to grow at a CAGR of 7.5% during the forecast period of 2024-2032. The retail sector, known for its high turnover rates and the necessity for a large, adaptable workforce, encounters distinct obstacles in recruitment. Recruitment software has become essential in tackling these challenges by simplifying the hiring process, boosting productivity, and elevating the candidate's overall experience.

Leading Companies in the Brazil Recruitment Software Market

Major players are focusing on the adoption of artificial intelligence and automation to gain a competitive edge in the market.

• SAP SE

• Oracle Corp.

• IBM Corp.

• Cornerstone OnDemand, Inc.

• peopleHum Technologies Inc.

• Others

Key Highlights of the Report