The global recruitment software market is expected to post a CAGR of more than 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global recruitment software market 2019-2023 (Graphic: Business Wire)
The enhanced communication capabilities and productivity of recruiters will be one of the major drivers in the global recruitment software market. Enterprises can filter, rank, and store data of applicants instantly with the help of recruitment software. Some of the leading recruitment software in the market are Talent Acquisition Experience Platform from Lumesse and the IBM Kenexa Talent Acquisition Suite from IBM. These software simplify the process of tracking the progress of an application and can automate the process of posting jobs on various job portals. The software is essential for recruiters to maintain quick response times and communicate effectively both with their own teams as well as the applicants. This software enhances communication channels by keeping the applicants and recruiters in the loop. Therefore, with such advantages the recruitment software market is anticipated to register a positive outlook during the forecast period.
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As per Technavio, the rise in mergers and acquisitions will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Recruitment Software Market: Rise in Mergers and Acquisitions
The rise in mergers and acquisitions will be one of the major drivers in the global recruitment software market. Mergers and Acquisitions (M&As) are currently the top priority of recruitment software vendors to expand their market reach and increase customer base. Also, intense competition in the market is expected to drive established market vendors to adopt new technologies with the aim of increasing their market presence. Vendors that offer recruitment software are investing extensively in strategic partnerships, joint ventures, and acquisitions to capture a major share of the global recruitment software market and expand their presence in new regions. This will propel market growth during the forecast period.
“The use of social media with recruitment software and the rising corporate sector and start-ups are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Recruitment Software Market: Segmentation Analysis
This market research report segments the global recruitment software market by deployment (on-premises and SaaS-based) and geographical regions (Americas, APAC, and EMEA).
Although, the Americas accounted for the largest recruitment software market share in 2018, the EMEA region will witness the highest incremental growth during the forecast period of 2019-2023. This is due to the growing number of jobs among the enterprises in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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