WILMINGTON, DE, UNITED STATES, February 3, 2025 /ennovaterz/ — According to the report published by Allied Market Research, Why Invest in the Booming Online Recruitment Software Market. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.
The global online recruitment software market was valued at $1.8 billion in 2022, and is projected to reach $4 billion by 2032, growing at a CAGR of 8.6% from 2023 to 2032.
The online recruitment software market is expected to witness notable growth owing to increase in use of virtual recruitment, rise in need for robotic process automation and rise in use of artificial intelligence. Moreover, a rise in remote interviewing is expected to provide a lucrative opportunity for the growth of the market during the forecast period. On the contrary, accessibility issue open-source software limits the growth of the online recruitment software market.
The online recruitment software market is segmented on the basis of component, deployment mode, enterprise size, end user and region. On the basis of component, it is bifurcated into solution and services. On the basis of deployment mode, it is bifurcated into web-based and cloud-based. On the basis of enterprise size, it is divided into large enterprise and small and medium-sized enterprise. On the basis of end user, it is fragmented into IT and telecom, BFSI, retail and e-commerce, healthcare, manufacturing, government, media and entertainment, and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Recent Partnership in the Market
On September 2023, UKG In. partnered with Belle to leverage the power of UKG technology to create a purposeful workplace and enhance recruitment.
On September 2022, SumTotal Systems, LLC launched its ‘Skills Blueprint’ product add-on in partnership with Lightcast, to supercharge upskilling, reskilling, and talent development efforts for SumTotal customers.
Recent Upgrade/Product Launch in the Market
On July 2023, Oracle Corporation upgraded its online recruitment software and added generative AI-powered capabilities within Oracle Fusion Cloud Human Capital Management (HCM) to drive faster business value, improve productivity, enhance the candidate and employee experience, and streamline HR processes.
Recent Collaboration in the Market
On July 2020, Cornerstone Inc. collaborated with Henkel a German multinational chemical and consumer goods company, as Henkel used Cornerstone recruiting to launch a new recruitment platform to streamline its application process and improve the candidate experience.
On September 2023, Oracle Corporation and AMP collaborated to implement Oracle Fusion Cloud Human Capital Management (HCM) to create an enhanced its online recruitment software solution.
Recent Acquisition in the Market
On July 2020, Freshworks Inc. acquired with Flint, to bolster Freshservice’s IT service management (ITSM) and IT operations management (ITOM) capabilities along with its recruitment process.
By component, the solution segment held the major share in 2022, garnering nearly one-third of the global online recruitment software market revenue, owing to adoption of businesses that use various internet-based solutions such as online advertising, job listings, social media and company websites, to source and hire the best candidates. However, the service segment is projected to attain the fastest CAGR of 11.0% during the forecast period, owing to variety of products and assistance given to businesses or groups utilizing such environments. To assist organizations to establish a transition to the online recruitment software model, these services include consulting, implementation, and migration services.
By deployment mode, the web-based segment held the major share in 2022, garnering nearly two-thirds of the global online recruitment software market revenue, owing to recruitment software systems that are accessible from any device with an internet connection, allowing recruiters and hiring managers to work remotely or on the go. However, the cloud-based segment is projected to witness the fastest CAGR of 11.1% during the forecast period, owing to subscription-based pricing model, which can be more cost-effective than traditional on-premises solutions.
Competitive analysis and profiles of the major players in the online recruitment software industry include Oracle Corporation, IBM Corporation, SAP SE, Freshworks Inc., Zoho Corporation Pvt. Ltd., Skillsoft, ClearCompany, Inc., Ukg Inc., Cornerstone, and Sumtotal Systems, LLC. Major players have adopted product launch, partnership, collaborations, and acquisition as key developmental strategies to improve the product portfolio and gain strong foothold in the online recruitment software industry.
