Internet Recruiting Platform Market Size, Share, Growth, And Industry Analysis By Type (Permanent Internet Recruiting Platform And Part Time Internet Recruiting Platform) By Application (Secretarial and Clerical, Accounting and Financial, Computing, Technical Engineering, Professional and Managerial, Nursing and Medical Care, Hotel and Catering, Sales and Marketing, And Others), Regional Insights, and Forecast From 2024 To 2031

Internet Recruiting Platform Market Report Overview

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The global internet recruiting platform market size was USD 25990 million in 2021 and is expected to reach USD 68266.49 million in 2031, at a CAGR of 10.1% during the forecast period.

The term internet recruiting platform refers to a service or platform that makes it easier for companies and qualified job seekers to find employment opportunities. Employers and recruiters use this internet application to publish open positions in their companies. Open vacancies are typically posted on the internet recruiting platform by HR management. The tracking of interviews is also available on a few internet recruiting platforms. While the internet recruiting platform is excellent in assisting job seekers in finding their ideal position, it also greatly aids recruiters in categorizing and organizing the list of numerous applicants for the vacant position and can assist with the management of chores related to daily staffing.

The market for internet recruiting platforms is growing as a result of a number of factors, including the businesses' quick adoption of digitalization and their ability to provide a variety of jobs. The proliferation of enterprises on the internet enables companies to reach a wider audience, greatly fostering market expansion for internet recruiting platforms. The assimilation of social media networks has also pushed the development of the market in the recent few years. The simple accessibility to high-speed internet and the widespread adoption of smartphones in daily life by practically everyone are further factors contributing to the development of the market for internet recruiting platforms.

COVID-19 Impact: Virtual Hiring Helps Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with internet recruiting platform market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Since the COVID-19 outbreak first appeared in the year 2020, markets all around the world have seen its negative and enduring effects. Due to the stringent lockdown regulations established by governments around the world in respective countries, various businesses were forced to suspend their regular operations during the initial stages of the pandemic. Similar to the market for internet recruiting platform, which first experienced losses before gaining momentum as job demand increased and more businesses began providing potential employees with work-from-home opportunities. Despite the extremely contagious pandemic, the virtual interviewing method of recruiting has contributed to the exponential growth of the market for internet recruiting platform.

Latest Trends

"Growing Utilization Of Social Media Encourages Product Demand"

The market has advanced to a new level due to the rising popularity and widespread use of social media platforms and social networking. The market has increased, and talent may be seen and recognized through social media platforms due to social networking's increasing popularity, which gives recruiters many new opportunities. A marketing strategy to draw in more and better-qualified candidates to their companies is the usage of social media as one of the initial steps of an online recruiting platform. The utilization of social media can become even more powerful when applying a strong strategic edge by recruiters.

Internet Recruiting Platform Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into permanent internet recruiting platform and part time internet recruiting platform. The permanent internet recruiting platform segment is expected to lead the market by type during the forecast years of 2021-2028.

• By Application Analysis

Based on application, the market can be divided into secretarial and clerical, accounting and financial, computing, technical engineering, professional and managerial, nursing and medical care, hotel and catering, sales and marketing, and others. The secretarial and clerical segment is anticipated to dominate the market by application during the period mentioned.

Driving Factors

"Artificial Intelligence Proliferates Market Progress"

The market for online recruiting platforms has seen a significant increase in expectations for market success due to the use of artificial intelligence. Both competent job seekers and recruiters now enjoy a better experience due to the incorporation of artificial intelligence and data science. In order to assist users in finding the best and most suitable jobs, the platform gathers information from them. It also occasionally suggests the best fit for the user's profile based on the user's specified preferences and credentials on the internet recruitment platform profile. The software also aids the applicant pool's organization for recruiters filling open positions.

"Adaption Of Remote Working Facilitates Market Value"

The internet recruitment platform market has effectively expanded to become a larger market due to the trend that allows employees to work from the convenience of their homes. Virtual interviews have expanded along with the use of virtual applications for employment, both of which have had a direct impact on the expansion of the internet recruiting platform market growth as a result of the rise in the number of remote positions being provided by recruiters and businesses.

Restraining Factors

"Internet Frauds Impedes Market Expansion"

The market for internet recruiting platforms has experienced a slowdown in growth as a result of the rise in internet fraud incidences that have coincided with the accessibility of high-speed internet access in everyone's hands. The recruiters are suffering due to the rise in fake candidates, which has forced them to provide scant details about available positions on the internet recruitment platform. The risk of hackers attempting to access sensitive firm information increases when employers post comprehensive job descriptions, which is the main factor impeding the market's expansion.

Internet Recruiting Platform Market Regional Insights

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"Asia Pacific Leads Due To Innovative Technologies"

The region of Asia Pacific is on the rise in the market, holding the majority of the internet recruiting platform market shares. This is a result of the fact that the regional market has integrated artificial intelligence into the online platform in order to boost the market's revenues for internet-recruiting platforms. The region's rising social media usage, smartphone adoption, and increased internet usage have all helped to boost the demand for the internet recruiting platform market.

The European area ranks second for having the largest market shares for the online recruiting platform. Due to the introduction of new technology and the increase in hiring through social media platforms, the region greatly benefits from the industry. The market expansion in the region has been attributed to the emergence of numerous small and medium-sized businesses and the digitization of older, larger businesses.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

LIST OF TOP INTERNET RECRUITING PLATFORM COMPANIES

• LinkedIn (U.S.)
• Recruit (Japan)
• Monster (U.S.)
• CareerBuilder (U.S.)
• StepStone (U.S.)
• 51job (China)
• Naukri (Info Edge) (India)
• SEEK (Australia)
• Zhilian (China)
• TopUSAJobs (U.S.)
• Robert Half (U.S.)
• Totaljobs (United Kingdom)
• DHI Group (U.S.)
• 104 Job Bank (Taiwan)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors such as segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.