Online Recruitment Market to Exhibit 7.1% CAGR by 2027; Increasing Adoption of Advanced Technologies to Surge Demand: Fortune Business Insights™

Key Companies Covered in Online Recruitment Market Research Report LinkedIn, Naukri.com, TalentLyft, Zoho Corporation Pvt. Ltd., Indeed, HackerRank , Self-Management Group, Pymetrics , iCIMS, Ultimate Software, Monster Worldwide, Inc., Jobvite, Inc., Ideal, Textio.

Pune, Oct. 29, 2020 (GLOBE NEWSWIRE) -- The online recruitment market size is expected to showcase considerable growth by reaching USD 43.39 billion by 2027. This is attributable to the growing adoption of social media platforms and the increasing adoption of advanced technologies that will propel the demand for online recruitment globally. 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.”, observes that the market stood at USD 28.68 billion in 2019 and is likely to exhibit a CAGR of 7.1% between 2020 and 2027.

COVID-19 Boosts Online Recruitment Process of Candidates

To contain the spread of the novel coronavirus, government agencies across the globe have advised to follow social distancing and limit human interaction. The recruitment agencies, today, are screening and hiring candidates through an online medium having canceled the face-to-face interview process. This is expected to boost the growth of the market in the forthcoming years.

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Online recruitment or e-recruitment is a type of practice that involves technology to fulfill the recruiting process of a company by securing employment applications through online method. The implementation of this solution enables the recruitment agencies to easily streamline different processes such as candidate verification, interview scheduling, and employee screening, among others.

What does the Report Include?

The market report includes a detailed assessment of various drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides comprehensive insights into the regional developments of the market, affecting its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several research methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnership, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2020 and 2027.

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DRIVING FACTORS

Growing Social Media Influence to Favor Growth

The rapid emergence of social networking has led to a paradigm shift in the way people convey and share knowledge. With more active users and another joining every day, social media platforms have become strategically important for recruitment companies to hire talent through this type of recruitment. The companies are building effective strategies to leverage the opportunities provided by social media platforms and recruit prospective applicants. The changing business dynamics and the emergence of social media are expected to bode well for the growth of the global market in the forthcoming years.

SEGMENTATION

Hotel/Catering Segment Held 20.5% Market Share in 2019

The hotel/catering segment, based on application, held a market share of about 20.5% and is likely to gain momentum owing to the high turnover rate of candidates seeking jobs in hospitality sectors across the globe.

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REGIONAL INSIGHTS

Adoption of Advanced Technologies in North America to Spur Demand

Among all the regions, North America is expected to remain dominant and hold the highest position in the global online recruitment market in the forthcoming years. This is attributable to the increasing adoption of advanced technologies such as artificial intelligence (AI) by the recruitment companies for this type of recruitment process in the region.

The market in Europe is expected to showcase exponential growth backed by the high rate of hiring by the engineering and IT firms in the region between 2020 and 2027.

COMPETITIVE LANDSCAPE

LinkedIn and SAP SE Focus on Collaborations to Strengthen Their Market Positions

The global online recruitment market is fragmented by the presence of key players such as LinkedIn and Naukri.com that are striving to consolidate their positions by collaborating amongst each other and further expanding the online recruitment services. The other key players are adopting strategies such as partnership, merger and acquisition, and the introduction of new products to gain a major chunk of the market share during the forecast period.

Industry Development:

• August 2020 - Tribepad Ltd., a recruitment software provider, announced its collaboration with WeLove9am, a marketing and advertising firm. The collaboration is aimed at supporting Signature Senior Lifestyle Care Homes to facilitate a smooth online recruitment process in its care homes.

List of Key Companies Profiled in Online Recruitment 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)

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Table of Content:

• Introduction

  • Definition, By Segment

  • Research Methodology/Approach

  • Data Sources

• Executive Summary

• Market Dynamics

  • Macro and Micro Economic Indicators

  • Drivers, Restraints, Opportunities and Trends

  • Impact of COVID-19

    • Short-term Impact

    • Long-term Impact

• Competition Landscape

  • Business Strategies Adopted by Key Players

  • Consolidated SWOT Analysis of Key Players

  • Porter’s Five Force Analysis

• Global Online Recruitment Key Players Market Share Insights and Analysis, 2019

• Companies Profiled (Covered for key 10 players only)

  • Overview

    • Key Management

    • Headquarters etc

  • Offerings/Business Segments

  • Key Details (Key details are subjected to data availability in public domain and/or on paid databases)

    • Employee Size

    • Past and Current Revenue

    • Geographical Share

    • Business Segment Share

  • Recent Developments

• Annexure/Appendix

  • Global Online Recruitment Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027

    • By Type (Value)

      • Permanent Online Recruitment

      • Part Time Online Recruitment

    • By Application (Value)

      • Secretarial/Clerical

      • Accounting/Financial

      • Computing

      • Technical/Engineering

      • Professional/Managerial

      • Nursing/Medical/Care

      • Hotel/Catering

      • Sales/Marketing

      • Other Industrial/Blue Collar

    • By Region (Value)

      • North America

      • Europe

      • Asia Pacific

      • Middle East & Africa

      • Latin America

Continued….!!

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