Global Recruitment Software Market 2019-2023 - Rise in Mergers and Acquisitions to Boost Growth - Technavio
LONDON--(BUSINESS WIRE)--Nov 13, 2018--The global recruitment software market is expected to post a CAGR of over 6% during the period 2019-2023, according to the latest market research report by .
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Technavio has published a new market research report on the global recruitment software market from 2019-2023. (Photo: Business Wire)
A key factor driving the growth of the market is the need for enhanced communication capabilities and productivity of recruiters. Recruitment software such as the Talent Acquisition Experience Platform from Lumesse and the IBM Kenexa Talent Acquisition Suite help enterprises in filtering, ranking, and storing the data of applicants instantly. It also simplifies the process of tracking the progress of an application and automates the process of posting jobs on various job portals. During recruitment, the software becomes 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 market is anticipated to register a positive outlook during the forecast period.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the rise in mergers and acquisitions as one of the key emerging trends in the global recruitment software market:
Global recruitment software market: Rise in mergers and acquisitions
The rising demand for recruitment software is encouraging vendors to undertake mergers and acquisitions to expand their market reach and increase their 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.
“Apart from mergers and acquisitions, another major factor that is trending and is expected to boost the growth of the global market is the use of artificial intelligence in recruiting. Al in recruiting can support enterprises in reducing or even eliminating time-consuming activities such as the manual screening of resumes. One of the primary problems faced by enterprises is the increasing volume of applications every year, whereas the size of their recruiting teams remains the same or in some cases, even decreases. As a result, screening resumes becomes a time-consuming task for recruiters. Al can help enterprises in automating repetitive and time-consuming tasks such as shortlisting resumes and scheduling interviews,” says a senior analyst at Technavio for research on enterprise application.
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 (APAC, EMEA, and the Americas).
The Americas led the market in 2018 with a market share of over 50%, followed by EMEA and APAC respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth followed by the EMEA 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 LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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SOURCE: Technavio Research
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