The talent acquisition and staffing technology and service market is anticipated to be worth USD 159.08 billion in 2024 and is projected to reach USD 290.31 billion by 2034, witnessing a CAGR of 6.2% from 2024 to 2034. In today’s digital era, social media and applicant tracking systems (ATS) have transformed the landscape of organizational hiring decisions, industry expansion, and businesses’ use of talent acquisition and staffing technology and services.
Social media platforms have become paramount for recruiters to source and engage with potential candidates, allowing them to tap into a wider talent pool beyond traditional recruitment methods.
Companies increasingly leverage social media and ATS to enhance their recruitment strategies, develop their reach, and stay competitive in the talent market. The impact of social media and ATS is apparent in organizational hiring decisions and the broader industry landscape, where they have influenced the adoption of innovative staffing technologies and services.
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Talent acquisition technology encompasses various tools such as Job Boards, Applicant Tracking Systems (ATS), Vendor Management Systems (VMS), and emerging online services within the “Human Cloud.” The talent acquisition and staffing technology market is undergoing a significant transformation, with the true potential unclosing only when organizations focus on machine intelligence. Talent acquisition solutions are essential for organizations’ growth, especially as the economy improves and the employment rate decreases.
HR marketing strategies are being developed to overcome this challenge, focusing on employer branding, brand messaging, and employee engagement initiatives to attract and retain the best talent pool.
Key Takeaways from the Talent Acquisition and Staffing Technology and Service Market Report
- The industry in Japan is projected to experience a CAGR of 2.6% through 2034.
- German market is estimated to demonstrate a CAGR of 1.9% by 2034.
- The industry in the United States is anticipated to see a CAGR of 6.2% from 2024 to 2034.
- Chinese sector is projected to showcase a CAGR of 8.3% through 2034.
- The talent acquisition and staffing technology and services market in the ANZ region is anticipated to display a CAGR of 2.3% through 2034.
Competitive Landscape of the Talent Acquisition and Staffing Technology and Service Market
Talent acquisition, staffing technology, and service organizations use various techniques to keep ahead of the competition in today’s fast-paced business world. These tactics include developing new technologies, getting service permissions, looking for funding, establishing alliances, and forging partnerships.
Market participants may grow their clientele and business, better service current clients, and draw in new ones using these strategies. For these businesses, technological innovation, in particular, is becoming increasingly important as it can automate and optimize their hiring procedures, cut expenses, and enhance the caliber of their services.
These businesses may prove that they conform to rules and industry norms by obtaining service approvals, which improves their credibility and reputation. Other successful tactics for talent acquisition and staffing organizations include looking for investments, establishing alliances, and partnering.
These tactics may help them access new markets, technology, and knowledge and generate synergies that are advantageous to all parties.
Key Companies in the Talent acquisition and staffing technology and service market
- International Business Machine Corporation
- Oracle Corporation
- SAP SE
- Randstad Holding NV
- Linkedin Corporation
- PeopleFluent, Inc.
- CareerBuilder, LLC
- CornerStone OnDemand, Inc.
- Saba Software, Inc.
- Paycom Software, Inc.
- The Adecco Group, ADP, LLC
- Workday, Inc.
- Ultimate Software Group, Inc.
- Skillsoft Corporation
- BambooHR, LLC
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Recent Developments in the Talent Acquisition and Staffing Technology and Service Market
- Job.com combined five popular staffing and recruitment firms into one in August 2023, providing a full range of Talent Solutions for all service lines. This integration gives candidates more options across sectors and job kinds, offering quicker access to recruiters and professionally tailored positions.
Leaders in corporate AI software and services Veritone, Inc. purchased Broadbean, a SaaS platform that improves talent engagement and acquisition, from CareerBuilder in June 2023.
Key market Segmentation:
By Type:
- Marketing Advertising
- Technologies
- Services
By Industry:
- Education
- Manufacturing
- BFSI
- Healthcare
- IT and Telecommunication
- Energy
- Retail
- Transportation
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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