and it is projected to reach US$ 407. 5 million by 2027; it is expected to grow at a CAGR of 11. 3% from 2020 to 2027. A much greater pool of candidates has been opened for recruiters using social networks and other digital profiles, but the time it takes for searching to end up dragging hiring managers away from their most critical recruitment goal.
New York, Jan. 22, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Video Interviewing Software Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type and Enterprise Size" - https://www.reportlinker.com/p06010115/?utm_source=GNW
To help organizations make better business choices, high-quality analytics systems have been applied to consumer data. Big data care is increasingly generated by applicant details, so recruiters can find the best candidates for the job quickly and easily. Industrialization is increasing in APAC, and it is expected to continue in the coming years. Several large enterprises in APAC are expanding their businesses across the region, leading the industrialization at a prime rate. Additionally, emerging SMEs with higher capital investments boost the adoption of video interviewing software tools. Thus, considering the growth of large enterprises and SMEs in APAC, the video interviewing software market is anticipated to witness significant demand for video interviewing software during the forecast period.
Countries such as China, Japan, South Korea, India, Taiwan, and Singapore are technologically advancing due to the increasing number of large enterprises and SMEs.Traditionally, enterprises in these countries used Virtual Private Network (VPN) to interact with teams or clients.
With the evolution of video interviewing software tools, the majority of large enterprises and several SMEs are switching to advanced solutions.
The video interviewing software market is segmented on the basis of type, enterprise size, and geography.Based on type, the market is bifurcated into web-based and mobile apps.
The web-based segment dominated the market, whereas the mobile apps segment is expected to register a faster growth rate during 2020–2027.Based on enterprise size, the video interviewing software market is bifurcated into SMEs and large enterprise.
The large enterprise segment the video interviewing software market, whereas the SMEs segment is expected to register a faster growth rate during the forecast period.Geographically, the market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM).
In 2019, North America led the global video interviewing software market with a significant share, followed by Europe and APAC. The US and Canada dominate the market in North America. Further, APAC is anticipated to register the highest CAGR during 2020–2027. Other developing regions such as the MEA and SAM are also expected to offer lucrative opportunities to market players operating in these regions in the coming years.
Video app interviewing hastens and simplifies recruitment by removing the need for multiple in-person interviews.Video interviews allow applicants to pass through the recruiting funnel when their busy schedules do not allow them to meet in person.
Video interview software standardizes the interview process and improves communication between hiring managers and recruiters.
The overall video interviewing software market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the video interviewing software market with respect to all the segments.It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Also, primary interviews were conducted with industry participants and commentators to validate data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the video interviewing software market.
ClearCompany, HireVue, InterviewStream, Jobvite, Inc., Modern Hire, Shine, skeeled, Spark Hire, VidCruiter, and Yello. are among the players operating in the global video interviewing software market with significant market share.
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