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Global Recruitment Software Market Projected to Grow at 9.7% CAGR, Reaching $3.68 Billion by 2029
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.What Will the Recruitment Software Industry Market Size Be by 2025?
The market size for recruitment software has shown considerable growth in the recent past. The size is predicted to surge from $2.39 billion in 2024 to $2.54 billion in 2025, with a compound annual growth rate (CAGR) of 6.0%. The historic growth can be linked to factors like increased use of minimally invasive surgeries, the prevalence of chronic illnesses, the demand for high-quality imaging, enhanced awareness and education, favourable reimbursement policies, and development in hospital infrastructure.
What's the Long-Term Growth Forecast for the Recruitment Software Market Size Through 2029?
The market size for recruitment software is predicted to experience robust expansion in the coming years, with an expected growth to $3.68 billion in 2029, with a compound annual growth rate (CAGR) of 9.7%. The projected growth during this period is due to the transition towards ambulatory surgical centers, the increase in the elderly population, the growing number of surgical procedures, the emphasis on infection control, and the use of specifically designed endoscopes for particular applications. The forecast period also highlights the evolution in imaging technologies, product innovation, the application of artificial intelligence, the blend of rigid-flexible endoscopes, telemedicine, and remote consultations as the key trends.
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What Are the Key Growth Drivers Fueling the Recruitment Software Market Expansion?
The increasing need for cloud-based solutions is anticipated to push the recruitment software market's expansion. This refers to applications, resources, or services reliant on the internet, rather than those operating exclusively on individual computers or servers. These systems, often known as Software-as-a-Service (SaaS) or cloud computing, have a substantial edge over traditional on-premises systems. The advantages include accessibility, scalability, affordability, security, and the ability to integrate with other cloud-based tools and software, all of which contribute to the growth of the recruitment software market. As an example, AAG IT Services, a UK-based non-profit organization, reported in June 2024 that 89% of the businesses they conducted a survey on in 2022 used a multitude of cloud solutions for their storage and work requirements. As such, the growing demand for cloud-based systems is fuelling the expansion of the recruitment software market.
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What Are the Key Trends Driving Recruitment Software Market Growth?
The advent of product innovations is a key trend that's emerging in the recruitment software market. Businesses operating in this sector are introducing novel products to maintain their relevance in the market. For example, in March 2023, Ceipal, a recruitment and talent acquisition software company based in the US, rolled out a comprehensive suite of tools to streamline the entire talent acquisition process. The robust automation capabilities of Ceipal, which includes fundamental ATS features, recruitment AI, text-based recruitment, business knowledge and reporting, advanced CRM tools, and more, are all available in a single budget-friendly package. The package includes automated reports, managed harvesting, AI-based matching and ranking, marketing CRM, workforce management, among other advantages.
How Is the Recruitment Software Market Segmented?
The recruitment softwaremarket covered in this report is segmented -
1) By Component: Software, Services
2) By Organization Size: SMEs (Small and Medium-sized Enterprises), Large Enterprises
3) By End-User: Retail, IT and Telecom, BFSI (Banking, Financial Services, and Insurance), Manufacturing, Healthcare, Other Commercial
Subsegments:
1) By Software: Applicant Tracking System (ATS), Recruitment Marketing Software, Onboarding Software, Recruitment Analytics Software, Interview Scheduling Software, Candidate Relationship Management (CRM) Software
2) By Services: Implementation Services, Consulting Services, Support And Maintenance Services, Training Services
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Which Companies Are Leading the Charge in Recruitment Software Market Innovation?
Major companies operating in the recruitment software market include Oracle Corporation, SAP SE, SumTotal Systems, Automatic Data Processing Inc., Workday Inc., Ceridian HCM, Cornerstone OnDemand Inc., accenture* plc, Talentsoft SA, Intelligent Candidate Information Management System Inc., Jobvite Inc., Zoho Corporation, Cognizant Technology Solutions, Microdec plc, BullHorn Inc., 3A Composites, WittKieffer Inc., Avature Ltd., SuccessFactors Inc., Cegid Group SA, IBM Corporation, The Sage Group plc, PeopleStreme Human Capital Management, BambooHR LLC, Ceipal Corp., Oorwin Labs Inc., Avionté Staffing Software, JobAdder Operations Pty. Ltd., Microsoft Corporation, Alphabet Inc.
Which Regions Are Leading the Global Recruitment Software Market in Revenue?
North America was the largest region in the recruitment software market in 2024. The regions covered in the recruitment software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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