The recruiting automation software market is poised for substantial growth, with a projected CAGR of 2.7%. This steady expansion is expected to drive the market’s valuation to nearly US$ 660 million, underscoring the increasing demand for automation solutions in the recruitment sector.
As organizations across various industries seek to streamline their hiring processes and enhance efficiency, recruiting automation software is becoming an indispensable tool. These solutions not only reduce manual intervention in talent acquisition but also offer advanced features like resume parsing, candidate ranking, and automated communication, making them essential for modern HR departments. With this upward trajectory, the recruiting automation software market is demonstrating its potential to significantly impact the future of recruitment practices.
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Efficiency and Cost benefits are encouraging the demand for automation software:
Companies are adapting recruiting software since the automation of mundane processes and functions like sourcing, screening and the creation of rich talent can enable the best value from recruiters. Recruiting Automation Software also enhances recruitment analytics for future use.
GenZ entering the workforce has led to employers having to adapt to candidates who look for quick and up-to-date processes:
Research finds that GenZ looks for companies that have timely, communicative, multi-platform recruiting processes. They are driven by the creation of valuable interactions with recruiters. Companies who want to tap into emerging talent are looking to the adoption of automated recruiting software.
Recruiting Automation Software Market: Competition Insights:
At present, Recruiting Automation Software providers are focused on developments that will ensure further simplification of mundane processes, as well as automation of initial tests and screenings. The key companies operating include Zoho, Recruit, LinkedIn Talent, Indeed, Hiretual, SmartRecruiters, Samanage Ltd., Entelo, Dice, Beamery, CareerBuilder, JobDiva, JazzHR, Greenhouse, Bullhorn, and ZipRecruiter.
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Some of the recent developments in Recruiting Automation Software are as follows:
- In May 2022, Fetcher, a talent acquisition, and Recruiting Automation platform, underwent Series B funding, raising US $27 Million and bringing the total amount raised to US $40 Million.
- In January 2022, South Korean HR platform Flex underwent Series B funding, raising US $32 Million with the total amount raised being US$ 42 Million. Flex plans to use the funding to advance HR and recruitment automation.
- In August 2020, Loxo, a provider of AI-based recruitment automation software launched the next generation of their recruiting CRM and a new product named “deals”, which is designed for RPOs, recruiting agencies, and executives.
More Insights Available:
Future Market Insights, in its new offering, presents an unbiased analysis of the Recruiting Automation Software Market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in the Recruiting Automation Software Market by Type (Software-Defined Networking, Software-Defined Wide Area Network, Software-Defined Data Center, Software-Defined Storage, Software-Defined Data Center Networking), End-User (Service Provider, Enterprises), Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa).
Recruiting Automation Software Market Segmentation:
By Type:
- Cloud-Based Recruiting Automation Software
- On-Premise Recruiting Automation Software
By Application:
- Large Companies
- Small and Medium Companies
By Region:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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