Global Recruitment Platforms Software Market Overview:
Recruiting software is software that assists organizations in optimizing the hiring process, from candidate identification and attraction to resume screening and offer letter distribution. Recruiting software is frequently referred to, as an applicant tracking system, or ATS, but the two are not synonymous. Recruiting software is a broad category that includes applicant tracking systems and other tools that focus on specific stages of the hiring process. Recruiting software can help hiring companies make the hiring process faster and more efficient. This not only saves time for managers and recruiters, but also makes it easier for an organization to hire top candidates who may be considering multiple offers. Recruiting software can help candidates by streamlining the application process and opening up communication channels, both of which contribute to a positive candidate experience. Furthermore, when candidates have a positive experience with an organization's hiring process, regardless of the outcome, they are more likely to recommend or apply again themselves.
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Growth Drivers
- The Increasing Use of Cloud-Based Platforms, as well as Mobile-Based Recruiting Methods, has Been Driving the Market Growth.
Roadblocks
- The Rising Data Security and Privacy Concerns Will Hinder the Growth of the Market.
Opportunities
- Due to the Increasing Use of Advanced Solutions Rather than Traditional Methods between Small and Medium-Sized Businesses Due to their Low Setup and Maintenance Costs Will is Contributing to Market Growth
Challenges
- Few Technological Limitations do Challenge the Market Growth.
Competitive Landscape:
To entice more end users, market players are focusing on providing Recruitment platforms software of higher quality while adhering to all regulatory standards. In the global Recruitment platforms software market, there are numerous large and small-scale manufacturers. They are also concentrating on the implementation of numerous advanced technologies. Furthermore, the numerous industry profits have led to the entry of new players, raising the level of rivalry in an already competitive market. The Recruitment platforms software market is currently expanding due to the increasing number of technological advancements in AIML. Some of the key players in this market follow strategies, which include new product offerings, product approvals, partnerships and alliances, mergers and acquisitions, and business expansions.
Some of the key players profiled in the report are Oracle (United States), SAP (Germany), ADP (United States), Kronos (United States), Accenture Plc (Ireland), Ceridian HCM Inc. (United States), IBM (United States), Cognizant Technology Solutions (United States), Halogen Software Inc. (Canada), PowerSchool (PeopleAdmin) (United States) and SumTotal Systems Inc. (United States). Additionally, following companies can also be profiled that are part of our coverage like Crosschq (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Recruitment Platforms Software market by 2027. Considering Market by Company, the sub-segment i.e. Enterprise will boost the Recruitment Platforms Software market. Considering Market by Deployment, the sub-segment i.e. Cloud will boost the Recruitment Platforms Software market. Considering Market by Component, the sub-segment i.e. Consulting will boost the Recruitment Platforms Software market.
Latest Market Insights:
In May 2022, Crosschq, pioneers of the Talent Intelligence Cloud™ that is powering a revolution in data-driven hiring and people analytics, announced today it has acquired TalentWall, creators of the popular recruiting analytics platform that enables talent acquisition teams to hire more efficiently and collaboratively through the use of data. An essential tool for recruiting leaders and hiring managers alike, TalentWall serves as the central source of truth for their hiring team’s most meaningful analytics and insights.
In May 2022, Oracle release new features like Technical changes from the Oracle Cloud HCM 22B Release Time & Labor: Analyze effective utilization of workforce by timesheet tracking, Recruiting Dashboard: Expanded set of packaged KPIs and subject areas for recruiting, Learning: Provide insight into learning program utilization and learning outcomes.
Legislators recently introduced legislation in both chambers of the United States Congress that would require organizations that use AI to conduct impact assessments of AI-enabled decision processes, among other things. The European Commission, the EU's executive branch, introduced a proposal last spring to regulate AI using a system similar to the EU's General Data Protection Regulation (GDPR), comprehensive data protection, and consumer privacy law. The AI regulation proposes fines ranging from 2% to 6% of a company's annual revenue for non-compliance. In December, the New York City Council passed legislation governing AI tools used in hiring. Violations of this statute are punishable by fines ranging from USD 500 to USD 1,500.
What Can be Explored with the Recruitment Platforms Software Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Recruitment Platforms Software Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Recruitment Platforms Software
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Recruitment Platforms Software market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Recruitment Platforms Software market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Software Development companies, Consultancy firms, IT Companies, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.