Global Recruitment Software Market Growth Prospects, Future Industry Landscape 2033 | Oracle Corporation, SAP SE, SumTotal Systems, Automatic Data Processing Inc., Workday Inc

"The recruitment software market size has grown strongly in recent years. It will grow from $2.27 billion in 2023 to $2.45 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to rise in minimally invasive surgeries, prevalence of chronic diseases, preference for high-quality imaging, awareness and education, reimbursement policies, hospital infrastructure development..

The recruitment software market size is expected to see strong growth in the next few years. It will grow to $3.32 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to shift towards ambulatory surgical centers, increasing geriatric population, rising surgical volume, focus on infection control, specialized application-specific endoscopes.. Major trends in the forecast period include advancements in imaging technologies, product innovation, integration of artificial intelligence , hybrid rigid-flexible endoscopes, telemedicine and remote consultations..

Market Overview -
Recruitment software is a type of technology that is designed to help streamline the hiring process. It is used to automate multiple tasks associated with recruitment, such as posting job ads, receiving and sorting resumes, and scheduling interviews.

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Growing Demand For Cloud-Based Systems Fuels Recruitment Software Market Expansion
The rise in demand for cloud-based systems is expected to propel the growth of the recruitment software market going forward. Cloud-based systems refer to software applications, services, or resources hosted and accessed over the Internet rather than being installed and run locally on individual computers or servers. These systems are also known as Software-as-a-Service (SaaS) or cloud computing. Cloud-based recruitment software systems offer several advantages over traditional on-premises solutions, such as accessibility, scalability, cost-effectiveness, security, and integration with other cloud-based tools and software, hence boosting the recruitment software market. For instance, in 2021, Eurostat, the Europe-based statistical office of the European Union, cloud computing adoption rose between 2020 and 2021, with more businesses using it for operations. Additionally, major organizations had a 7% increase in usage, with 72% employing cloud computing in 2021 compared to 65% in 2020. The adoption rate in medium-sized businesses increased from 46% in 2020 to 53% in 2021. Therefore, the rise in demand for cloud-based systems is driving the growth of the recruitment software market.

Competitive Landscape -
Major companies operating in the recruitment software market report are Oracle Corporation, SAP SE, SumTotal Systems, Automatic Data Processing Inc., Workday Inc., Ceridian HCM, Cornerstone OnDemand Inc., Talentsoft SA, Intelligent Candidate Information Management System Inc., Jobvite Inc., Zoho Corporation, Cognizant Technology Solutions, Microdec plc, BullHorn Inc., 3A Composites, WittKieffer Inc., Avature Ltd., SuccessFactors Inc., Cegid Group SA, IBM Corporation, The Sage Group plc, PeopleStreme Human Capital Managemnet, BambooHR LLC, Ceipal Corp., Oorwin Labs Inc., Avionté Staffing Software, JobAdder Operations Pty. Ltd., Microsoft Corporation, Alphabet Inc.

Product Innovations In The Recruitment Software Market
Product Innovations are a key trend gaining popularity in the recruitment software market. Companies operating in the recruitment software market are introducing new products to sustain their position in the market. For instance, in March 2023, Ceipal, a New-York based recruiting and talent acquisition software company, launched an advanced and extensive tool set to automate the full talent acquisition lifecycle. Ceipal's extensive automation capabilities, including essential ATS features, AI for recruiting, text recruiting, business intelligence and reporting, advanced CRM tools, and more, are available in a single low-cost package. It includes reports automation, managed harvesting, AI matching and ranking, marketing CRM, workforce management and other related benefits.

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Key Segments -
The recruitment software market covered in this report is segmented -
1) By Component: Software, Services
2) By Organization Size: SMEs (Small and Medium-sized Enterprises), Large Enterprises
3) By End-User: Retail, IT and Telecom, BFSI (Banking, Financial Services, and Insurance), Manufacturing, Healthcare, Other Commercial

Subsegment : Contact Management, Resume Management, Mobile Recruitment, Reporting and Analytics, Workflow Management, Other Softwares

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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