Online Recruitment Technology Market Share, Size, Trends, Industry Analysis Report, By Technology Type (Chatbot, Candidate Relationship Management Platform, Application Tracking System, and Video Interviewing); By Job Type; By Enterprise Size; By Region; Segment Forecast, 2024 – 2032
- Published Date:Feb-2024
- Pages: 117
- Format: PDF
- Report ID: PM4350
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global online recruitment technology market was valued at USD 12.98 billion in 2023 and is expected to grow at a CAGR of 15.3% during the forecast period.
The substantial increase in he number of job openings all over the world that creates a huge demand for efficient and effective online recruitment platforms and technologies to streamline different processes, including resume management, employee screening, and assessment tools, among others, is driving its market growth exponentially. In addition, the widespread use of highly advanced and innovative cloud-based technologies and the growing availability of high-bandwidth internet infrastructure, especially in emerging economies like India, China, and Korea, is further fostering the demand and need for recruitment technologies.
Moreover, the rapid emergence of various social networking platforms has transformed the way people share knowledge and also offered various new channels for connection. By connecting with top talent for different positions across a wider range of social networking sites, recruiters are becoming aware of its potential and ability to help them engage with the best employees for their organization.
The online recruitment technology market report details key market dynamics to help industry players align their business strategies with current and future trends. It examines technological advances and breakthroughs in the industry and their impact on the market presence. Furthermore, a detailed regional analysis of the industry at the local, national, and global levels has been provided.
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- For instance, the number of social media users in the world stood at around 4.8 billion in April 2023, which represents 59.9% or almost 60% of the world’s total population. The number of social media users has increased by over 150 million between the period of April 2022 and April 2023.
However, there are growing incidences of online fraudulent applications, as employers and hiring managers are facing significant challenges in finding the right personnel for their positions because many fake applicants or scammers apply for the role to get the company’s information, which is the major factor expected to hamper global market growth.
Industry Dynamics
Growth Drivers
Growing focus on automation of recruitment process and adoption of innovated technologies
In recent years, online recruitment processes have changed enormously, with companies shifting from conventional recruitment processes to advanced and automated methods that lead to more effective and cost-effective hiring processes. Apart from this, numerous companies in the market are focusing on the integration of AI and automation in recruitment processes that help in various time-consuming and critical works like identifying suitable candidates and automating repetitive tasks, which, in turn, creates lucrative growth and revenue opportunities for the companies in the coming years.
For instance, in November 2023, Hiremii Limited announced its latest innovated ‘Sourcd.AI,’ which is a type of AI-powered Chrome extension that will transform the way recruiters engage with their candidates & make placements.
Report Segmentation
The market is primarily segmented based on technology type, job type, enterprise size, and region.
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By Technology Type |
By Job Type |
By Enterprise Size |
By Region |
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By Technology Type Analysis
Candidate relationship management platform segment accounted for the noteworthy share in 2023
The candidate relationship management platform segment accounted for the noteworthy market share. This is due to the significant adoption of these platforms due to their ability to improve candidates’ overall experience with the help of providing time application updates and a user-friendly interface while enabling hiring managers to build an effective talent pool of potential candidates easily.
Previously, recruiters and sources had to spend a number of hours finding and contacting potential candidates and manually inputting all their information and details into spreadsheets. Still, with the help of new innovated CRM platforms, this work can be done with greater accuracy and in just a few seconds; thereby, the demand for these platforms has grown drastically over the last few years.
The chatbot segment is expected to grow at the highest growth rate during the projected period, which is mainly attributable to the surging adoption of artificial intelligence technology and various advantageous features, including 24/7 availability, enhancement of candidate experience, data-driven insights, and cost reduction, among others.
By Job Type Analysis
Technical/engineering segment held the significant market share in 2023
The technical/engineering segment held a significant market share in terms of revenue in 2023, which is majorly driven by a significant rise in the number of jobs related to engineering and technology, including software developer, web development, data science, and many others along with the growing awareness among companies in the IT sector regarding the benefits associated with online recruitment platforms.
The hotel/catering segment is projected to grow at the highest growth rate throughout the study period on account of increasing demand for skilled and qualified professionals like chefs, waiters, event managers, and others in the hotels and catering industry who are difficult to find or connect manually. Therefore, several hotels and catering businesses are heavily relying on social media platforms, including LinkedIn and Twitter, for the recruitment of the best potential candidates.
By Enterprise Size Analysis
Small and medium-sized enterprises segment is projected to witness highest growth
The small and medium-sized enterprises segment is projected to grow at the highest growth rate during the anticipated period, mainly due to the increasing number of SMEs becoming aware of the potential benefits and characteristics of online recruitment platforms, including time savings, better flexibility & scalability, cost-efficiency, and wider reach. Apart from this, there are several platforms available in the market that help SMEs comply with their laws and maintain data security, which makes them suitable even for businesses that work around various regulations and have significant amounts of critical data.
Regional Insights
North America region dominated the global market in 2023
North America dominated the global market. The region’s growth is due to greater adoption of these platform solutions among both SMEs and large enterprises across the region and the continuous increase in the proliferation of social networking sites that help both employers and potential candidates engage with each other.
In addition, the growing use of smartphones across the region has resulted in increased demand for effective online recruiting platforms that are specifically designed for smartphones because both job seekers and employers are leveraging smartphones for job searches and many other related processes.
The Asia Pacific region will grow rapidly, owing to increased internet and mobile penetration in the region and a rise in the number of countries undergoing significant digital transformation initiatives that promote online recruiting of candidates with the aim to streamline the overall hiring process. For instance, as per a recent report by IAMAI and Kantar, approx. 52% of the total India population is accessing the internet, which accounts for 759 million people, and the number is expected to reach 900 million by 2025.
Key Market Players & Competitive Insights
The online recruitment technology market is moderately competitive in nature with the robust presence of numerous rivals in the global space. Some of the major market companies are extensively focusing on business expansion and development strategies that includes mergers and acquisitions, alliances, collaborations, partnerships, and new product developments, with aim to expand their market presence and boost revenues and sales.
Some of the major players operating in the global market include:
- ABC Consultants
- Avature
- BambooHR LLC
- Flair.hr
- Fountain
- Glassdoor Inc.
- HireVue Inc.
- Info Edge
- iPlaceUSA Inc.
- itForte
- Multi Recruit
- Recruitee.Com
- SH Inc.
- SmartRecruiters
- StepStone GmbH
- TalenTECH Solutions Pvt. Ltd.
- TalentLyft
- Yello
Recent Developments
- In October 2023, Masai School, a Quotient-backed ed-tech startup, announced the launch of Level Up, which is an artificial intelligence-powered platform specially designed for job seekers & recruiters. The new platform would help job-seekers find listings after a detailed competency assessment through 90-minute interviews.
- In October 2023, Kelly introduced its new recruitment platform called “Kelly Arc,” a new type of recruitment platform that connects clients with potential job seekers who specialize in AI-powered automation. It will help close the gap between employers and top talent such as developers, project managers, analysts, and many others
Online Recruitment Technology Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 14.94 billion |
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Revenue forecast in 2032 |
USD 46.72 billion |
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CAGR |
15.3% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments covered |
By Technology Type, By Job Type, By Enterprise Size, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Customization |
Report customization as per your requirements with respect to countries, region and segmentation. |
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FAQ's
Technology type, job type, enterprise size, and region are the key segments in the Online Recruitment Platform Market.
The global online recruitment platform market size is expected to reach USD 46.72 billion by 2032.
The global online recruitment technology market is expected to grow at a CAGR of 15.3% during the forecast period.
North America regions is leading the global market.
Enhanced user experience and mobile accessibility are the key driving factors in Online Recruitment Platform Market.
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