AI Market in Recruitment Industry to observe USD 222.94 Mn incremental growth; Increasing Need for Automated Process to Boost Market Growth -- Technavio

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NEW YORK, Oct. 31, 2022 /PRNewswire/ -- The "AI Market In Recruitment Industry by Component (Services and Solutions) and Geography (North America, Europe, APAC, Middle East and Africa, and South America) - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.

Technavio has announced its latest market research report titled Global AI Market in Recruitment Industry 2022-2026
Technavio has announced its latest market research report titled Global AI Market in Recruitment Industry 2022-2026

The potential growth difference for the AI market in the recruitment industry between 2021 and 2026 is USD 222.94 million. To get the exact yearly growth variance and the Y-O-Y growth rate, Request a Free PDF Sample Report.

Key Market Dynamics:

  • Market Driver: The increasing need for automated process is one of the major factors driving the growth of the market. The demand for automated processes for screening and shortlisting candidates has grown significantly in the recruitment industry. The adoption of AI has enabled the processing of hundreds of resumes per minute, reducing human errors, and increasing the reliability of the hiring process. The automated procedure improves candidate involvement by making scheduling easier. Furthermore, using automated processes leads to the use of a candidate relationship management (CRM) system to efficiently operate recruitment operations. All these factors are driving the growth of the market in focus.

  • Market Challenges: The threat from open-source recruitment software is the key challenge in the market. Open-source recruitment software can be downloaded and run on all platforms, and hence, it is becoming increasingly popular in developing economies, such as India and China. This software is not only free but can also be customized according to the end-users' requirements. Besides, using open-source recruitment software ensures that such enterprises incur lower upfront costs and gain more flexibility. Thus, many enterprises, especially SMEs that are looking for better plans to expand their businesses at a low cost, opt for open-source recruitment software.

To learn about additional key drivers, trends, and challenges available with Technavio, View our FREE Sample Report right now!

Market Segmentation

By component, the services segment will be a significant contributor to market growth during the forecast period. Recruitment software is considered highly secure, as there is no third-party interference. Enterprises also have full control over their service solutions because of monitored and restricted access, while it also allows them to customize the recruitment software according to their requirements. Such benefits are leading to the growth of the segment.

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By geography, Europe will be the leading region with 35% of the market's growth during the forecast period. The UK and Germany are the key markets in Europe. Market growth in this region will be faster than the growth of the market in South America and North America.

Key Companies Mentioned in the Report

  • Alphabet Inc.

  • Beamery Inc.

  • Brilent Inc.

  • CVViZ Softwares Pvt Ltd.

  • Entelo Inc.

  • Gloat Inc.

  • hackajob Ltd.

  • Harver B.V.

  • HireTeamMate Inc.

  • International Business Machines Corp.

  • Jobiak

  • Jobvite Inc.

  • Leoforce LLC.

  • O5 Systems Inc.

  • Oracle Corp.

  • SAP SE

  • SmartRecruiters Inc.

  • Talent Recruit Software Pvt. Ltd.

  • UKG Inc.

  • Zoho Corp. Pvt. Ltd.

  • Gain access to more vendor profiles with their key offerings available with Technavio. Buy Report Now

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Artificial Intelligence (AI) Market in Healthcare Sector by Application and Geography - Forecast and Analysis 2022-2026: The push for digitization in healthcare is notably driving the AI market growth in healthcare sector, although factors such as physician and provider skepticism may impede market growth. Digitalized healthcare simplifies the delivery of healthcare services and helps in the easy and secure management of patient data. The high demand for connected healthcare services is driving the demand for the adoption of advanced technologies, including ai, AR, and advanced analytics.

AI market In Recruitment Industry Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 6.84%

Market growth 2022-2026

USD 222.94 million

Market structure

Fragmented

YoY growth (%)

4.57

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

Europe at 35%

Key consumer countries

US, China, Japan, UK, and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Alphabet Inc., Beamery Inc., Brilent Inc., CVViZ Softwares Pvt Ltd., Entelo Inc., Gloat Inc., hackajob Ltd., Harver B.V., HireTeamMate Inc., International Business Machines Corp., Jobiak, Jobvite Inc., Leoforce LLC., O5 Systems Inc., Oracle Corp., SAP SE, SmartRecruiters Inc., Talent Recruit Software Pvt. Ltd., UKG Inc., and Zoho Corp. Pvt. Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents:

1 Executive Summary

  • 1.1 Market overview

2 Market Landscape

  • 2.1 Market ecosystem

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2021

  • 3.4 Market outlook: Forecast for 2021-2026

4 Five Forces Analysis

  • 4.1 Five forces summary

  • 4.2 Bargaining power of buyers

  • 4.3 Bargaining power of suppliers

  • 4.4 Threat of new entrants

  • 4.5 Threat of substitutes

  • 4.6 Threat of rivalry

  • 4.7 Market condition

5 Market Segmentation by Component

  • 5.1 Market segments

  • 5.2 Comparison by Component

  • 5.3 Services - Market size and forecast 2021-2026

  • 5.4 Solutions - Market size and forecast 2021-2026

  • 5.5 Market opportunity by Component

6 Customer Landscape

  • 6.1 Customer landscape overview

7 Geographic Landscape

  • 7.1 Geographic segmentation

  • 7.2 Geographic comparison

  • 7.3 North America - Market size and forecast 2021-2026

  • 7.4 Europe - Market size and forecast 2021-2026

  • 7.5 APAC - Market size and forecast 2021-2026

  • 7.6 Middle East and Africa - Market size and forecast 2021-2026

  • 7.7 South America - Market size and forecast 2021-2026

  • 7.8 US - Market size and forecast 2021-2026

  • 7.9 China - Market size and forecast 2021-2026

  • 7.10 UK - Market size and forecast 2021-2026

  • 7.11 Germany - Market size and forecast 2021-2026

  • 7.12 Japan - Market size and forecast 2021-2026

  • 7.13 Market opportunity by geography

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers

  • 8.2 Market challenges

  • 8.3 Impact of drivers and challenges

  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview

  • 9.2 Vendor landscape

  • 9.3 Landscape disruption

  • 9.4 Industry risks

10 Vendor Analysis

  • 10.1 Vendors covered

  • 10.2 Market positioning of vendors

  • 10.3 Beamery Inc.

  • 10.4 Brilent Inc.

  • 10.5 Entelo Inc.

  • 10.6 Gloat Inc.

  • 10.7 hackajob Ltd.

  • 10.8 HireTeamMate Inc.

  • 10.9 International Business Machines Corp.

  • 10.10 Jobiak

  • 10.11 Leoforce LLC.

  • 10.12 O5 Systems Inc.

11 Appendix

  • 11.1 Scope of the report

  • 11.2 Inclusions and exclusions checklist

  • 11.3 Currency conversion rates for US$

  • 11.4 Research methodology

  • 11.5 List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
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Email:media@technavio.com
Website: www.technavio.com/

Global AI Market in Recruitment Industry 2022-2026
Global AI Market in Recruitment Industry 2022-2026
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