What is Staffing Agency Software Market?
The global staffing agency software market is expected to grow at a healthy pace during the forecast period, according to the AMA study. Staffing agencies aare the companies who direct employers to employees for recruitment purposes. The rising adoption of automated interview & candidate management and increaing automation across different industries are expected to be some of the major factors aiding the growth of the market. However, the market is expected to witness a decline in growth during FY 2020 but it is again expected to rise at a healthy pace after the COVID-19 pandemic is over.
The market study is being classified, by Application (Billing & Invoicing, Candidate Management, Interview Management, Job Posting, Job Requesting, Onboarding, Payroll Management, Resume Parsing, Self Service Portal, Temporary Staffing and Others) and major geographies with country level break-up.
AkkenCloud (United States), CATS Software Inc. (United States), CEIPAL Solutions Pvt. Ltd (India), Flo Backoffice Solutions Limited (United Kingdom), FoxHire LLC (United States), Fusion Recruiting Labs, Inc. (United States), Nocore Group BV (Netherlands), Nowsta (United States), Oorwin.com (India), Recruiterflow (United States), TempWorks Software (United States) and Zoho Corporation (India) are some of the key players profiled in the study.
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to the outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Staffing Agency Software market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Staffing Agency Software market by Type, Application and Region.
On the basis of geography, the market of Staffing Agency 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Automation Across Different Industries Propelling the Demand for Software & Solutions for Staffing Operations
- High Demand for Automated Interview & Candidate Management
Market Trend
- Rising Adoption of Cloud-Based Solutions
- Implementation of Artificial Intelligence in Staffing Agency Software & Solutions
Restraints
- Availability of Open Source Platforms
Opportunities
- Opportunities Across Asia Pacific Region Propelled by Rising Number of Enterprises Across Emerging Countries
Challenges
- Reduced Operations Across Different Industries Owing to COVID-19 Pandemic Reducing the Demand for Staffing Agency Software
- Reduced Hirings Across Different Companies Globally Due to Economic Crisis Across Various Sectors
Stringent Government Regulations Regarding Shutting Down of Operations Across Different Industries Worldwide Due to the COVID-19 Pandemic is Impacting the Demand for Staffing Agency Software
Analyst Comment
Since the COVID-19 virus outbreak in December 2019, the disease has spread to more than 200 countries across the world along with the World Health Organization declaring it a public health emergency. The impact of the COVID-19 has already hit many industries and will affect the global staffing agency market in FY 2020. The outbreak of COVID-19 has brought effects on many aspects, like scheduled public transportation cancellations; downfall in the real estate sector; travel bans and quarantines; closed operations across hotels & restaurants; banning of public gatherings & events; large slow-down in the supply chain of different markets; stock market unpredictability; declining business assurance, and uncertainty in the future market dynamics.