Candidate Relationship Management Software Market Scope
Candidate relationship management is defined as the process of attracting and engaging candidates and nurturing authentic relationships with them over time. Candidate relationship management software used to do a single thing: help large companies source top talent ahead of a requisition. It cut time to fill and cost per hire. But, nowadays, with the landscape fundamentally changed – first by the rise of the candidate-driven market and has become a secret weapon to improve the recruiter candidate relationship.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | IBM (United States), Oracle (United States), ICIMS (United States), Lever (United States), Avature (United States), CareerBuilder (United States), Perf Labs (Canada), Top Echelon Software (United States) and Beamery (United Kingdom) |
CAGR | 38.1% |
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Candidate Relationship Management Software market throughout the predicted period.
IBM (United States), Oracle (United States), ICIMS (United States), Lever (United States), Avature (United States), CareerBuilder (United States), Perf Labs (Canada), Top Echelon Software (United States) and Beamery (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Workable Technology (United States), SAP SuccessFactors (United States) and Avionté (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Candidate Relationship Management Software market by Type , by Application (BFSI, Retail, Healthcare, IT & Telecom, Discrete Manufacturing, Government & Education and Others) and Region with country level break-up.
On the basis of geography, the market of Candidate Relationship Management 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).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In April , 2023 Radancy, the leader in global talent acquisition software, announced that it has acquired Ascendify, adding value to the Radancy Talent Acquisition Cloud through advanced candidate relationship management (CRM) capabilities. This acquisition enhances Radancy's suite of solutions focused on helping enterprises find the talent they need to strengthen their business.
In March 21, 2023, iCIMS, another leading applicant tracking system (ATS) provider, unveiled its new Talent Cloud platform, which offers a comprehensive suite of talent management solutions including CRM functionalities.
Influencing Trend:
Rapid digital transformation and Integration of Artificial Intelligence
Market Growth Drivers:
Increasing importance of understanding customer behavior and their preferences and Ease of deployment, and growing business applications of CRM solutions across industries
Challenges:
High initial cost and installation cost
Restraints:
Lack of security about the privacy of customer information
Opportunities:
Untapped Emerging Nation
Key Target Audience
Service Provider, End Use Industries, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others