About Resume Parsing Software
Resume parsing is a process that converts an unstructured form of resume data into a structured format. A resume parser, also termed a CV parser, is a program that analyses resume/CV data and extracts it into a machine-readable output such as XML, or JSON. With the help of resume parsing software, it becomes easy to store and analyze resume data automatically.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The key manufacturers are targeting the innovations of the products with better quality, better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Resume Parsing Software market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Daxtra Technologies (United Kingdom), HireAbility (United Kingdom), Sovren (United States), Talentrackr (India), Textkernel (Netherlands), Rchilli (United States), Top Echelon (Patriot Software) (United States), Joinvision E-Services (Austria), Zoho Corporation and Hiretual (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are ResumeGrabber, RapidParser and employAstar.
Segmentation Overview
AMA Research has segmented the market of Global Resume Parsing Software market by Type (Cloud-Based and On-Premise) and Region.
On the basis of geography, the market of Resume Parsing Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Industries, the sub-segment i.e. Technology will boost the Resume Parsing Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Enterprise Size, the sub-segment i.e. Large Enterprises will boost the Resume Parsing Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased Adoption of Cloud Deployment across All Industries and Need for AI Features in Resume Parsing and Sourcing
Market Growth Drivers:
Rising Workforce Across the Globe and Quick Integration
Challenges:
The Complexity in Handling Software
Restraints:
Slowdown in World Economic Growth Hampers the Resume Parsing Software Market
Opportunities:
Growing Number of Jobs in the IT Sector, Provides Deep Learning Algorithms Matching Companies of Various Sizes and Accuracy in Parsing and Multilingual Support to Cater Worldwide Audiences
Market Leaders and their expansionary development strategies
In November 2021, Textkernel, backed by strategic software investor Main Capital Partners, further strengthened its position as a global leader in search and match technology with the additional acquisition of US-based AI company Sovren. With the acquisition of Sovren, Textkernel enters a very exciting next phase as it celebrates its 20th anniversary as a truly global AI technology leader for talent acquisition and management. Since its beginnings as an R&D-focused company 20 years ago, Textkernel has wanted to help people and jobs better connect.
In November 2020, Top Echelon Software, the leading provider of recruiting software for people who build teams, acquired CATS Software, a leading applicant tracking system (ATS) designed specifically for professional recruiters who help companies from all over the world fill their hiring needs. This acquisition combines two best-of-breed ATS companies to address the complex and evolving challenges in the war for talent.
Key Target Audience
Resume Parsing Software Providers, Resume Parsing Software Industry Association, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.