IT Recruitment Market Size, Share, Growth, And Industry Analysis, By Type (Offline Recruitment Online Recruitment), By Application (Permanent Staffing Temporary Staffing), Regional Forecast From 2024 To 2031

Updated On: 08 April 2024

IT Recruitment Market Report Overview

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The global IT recruitment market size was USD 147923 million in 2021 and the market is expected to reach USD 309740.78 million in 2031, exhibiting a CAGR of 7.67% during the forecast period. 

The global COVID-19 pandemic has been unprecedented and staggering, with IT recruitment experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.

IT recruiting attaches hiring managers with the best technical talent in a thrilling, fast-paced industry. While some IT recruiters specialize in certain technical talent, like cybersecurity specialists or IoT professionals, others fill a variety of positions. Permanent positions, project-based positions, and contract-to-hire positions are all filled using IT recruitment. The best candidates for an open position, such as an information security director or senior developer, will be found by an IT recruiter who will then pitch them on the opportunity.

These professionals frequently aren't actively looking for work, but they would consider changing careers given the right situation. To make sure candidates are qualified and open to a new position, the hiring manager will first screen them. The recruiter will then give the hiring manager a carefully curated list of candidates. Up until a hire is made, the hiring manager will also act as a mediator during the interview session and salary discussions.

COVID-19 Impact: Interruption in Supply Chains to Deplete Market Growth

The eruption of COVID-19 has done act as a substantial restraint on some market in 2020, as businesses have been disrupted due to global government lockdowns. COVID-19 is a contagious disease that causes flu-like symptoms such as fever, coughing, and difficulty breathing. National governments' efforts to limit transfer have led to a decrease in business growth and confined trade in goods and services, with nations entering a 'lock down' state. Businesses suffered as a result of the outbreak in 2020 and 2021. Many markets were been affected from this because the main focus was on the respiratory issues. The market growth is expected to rebound from the shock over the forecast period.

Latest Trends

"Advantages Prevailing in Online Recruitment to Intensify Market Magnification"

Using online recruiting can speed up routine hiring procedures. Businesses can automate administrative tasks like screening applicants and managing application paperwork. Online recruiters use applicant tracking systems (ATS) to quickly screen candidates because they centrally store all of the required candidate data. All of it will be on one page, so they won't need to read the applicant's cv before having to look at their portfolio, assessment, or cover letter. More than just recruitment agencies can benefit from using online recruitment tools. Candidates can apply quickly because the processes include auto-filling job applications and one-click apply buttons. There are other factors that support digitalization in addition to having access to a broad range of candidates and better candidate analysis. Therefore, it can will boost up the market share.

IT Recruitment Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into offline recruitment, online recruitment

Offline recruitment is the leading part of the type segment

• By Application Analysis

According to application, the market can be segmented into permanent staffing, temporary staffing

Permanent staffing is the leading part of the application segment

Driving Factors

"Elevation in Social Networking Practices to Boost Market Share"

Social networking has changed how information is shared and opened up new avenues for communication. With the emergence of social networking infrastructure, the recruitment industry is given a full picture of its exciting potential. Recruitment agencies are becoming ever more conscious of the need for more innovative approaches to improve the business plan as a result of trying to connect with talent across a variety of social media platforms. Because of its extensive use, businesses now recognize social media's potential as a marketing strategy. Social networking may prove to be a powerful tool for a company to use in order to advertise job vacancies and achieve a competitive advancement in order to attract a significantly bigger pool of qualified candidates. Nowadays, business depends more on networking sites rather than on radio, newspapers, or staffing agencies. In recent years, social media use has changed how many businesses around the world handle hiring. Therefore, by the strategic utilization of social networking IT recruitment market share will expand in the coming future.

"Growing Automation Rate to Expand Market Forwarding"

Companies and governmental organizations are currently concentrating on making a significant shift away from the traditional method of hiring services in favor of more efficient, sensible approaches. Nowadays, most companies utilize e-recruitment channels rather than more traditional hiring methods. Additionally, more job seekers are using the internet to search for and apply for jobs. Currently, e-recruitment is being used by many companies of all sizes. Nevertheless, the majority of companies presently use e-recruitment to email applicants, approve queries for interviews, and advertise job openings. As a result, the company has the opportunity to find prospective hires who are suitable for the position thanks to the information technology and the internet.

Restraining Factors

"Growing Usage of Fraudulent Application to Deplete Market Advancement"

Due to the large number of online applicants made possible by the convenience of internet access, hiring managers and employers find it difficult to choose the best candidates while weeding out the unqualified ones. Employers should be careful when trying to describe their job vacancies and be as precise as they can be regarding the roles and skills, they are looking for in order to lower the of applications they receive. Most hiring procedures are done online by businesses that may not administer tests. Interview session are frequently conducted over the phone and in person, particularly for offshore businesses. Given the specific cultural and environmental factors at play in this scenario, hiring recruiters and managers are not able to assure a candidate's professional ethics. Many applications might be fraudulent in order to gather information about the organization or the hiring manager, even though phishers can use internet data to market a service to organizations through online recruitment. Businesses that post jobs online may do so with a large amount of data, which might make it simpler for dishonest hackers to break into the company's IT systems.

IT Recruitment Market Regional Insights

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"Appealing Marketing Tactics to Foster Market Growth in North America and Asia Pacific "

Due to the increasing utilization social media sites and certain other internet services for recruiting, which will support the growth of the IT recruitment market growth in this region, North America is predicted to lead the global IT recruitment market during the forecast period. To maintain their dominance over global technological advancements, the major companies in this region are also developing AI technologies. Due to IT recruitment technologies and AI, employers and recruiters in the area would be able to expand further administrative tasks related to recruiting, such as fielding inquiries, scheduling interviews, and even performing preliminary candidate screenings. This could increase productivity by far more than 50%, freeing up recruiters' time to focus on technical duties. Additionally, to confirm an applicant's qualifications, recruiters in the region use apps and assessment tools.

Because of the accelerated use of artificial intelligence in the region's key nations, which include China, Japan amongst many others, Asia Pacific is anticipated to retain the second-largest share of the global IT recruitment market. Furthermore, talent management and HR recruitment agencies are experiencing significant growth as business owners switch to an automatic hiring method to keep up with technological advancements.

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.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled

• Kelly Services (U.S.)
• Randstad (U.S.)
• Zhilian Zhaopin (China)
• Mercer (U.S.)
• Innovsource (India)
• ManpowerGroup (U.S.)
• Sparks Group (Japan)
• Persol Holdings (Japan)
• Hays group (U.K.)
• Recruit Holdings Co.,Ltd. (Japan)
• Teamlease (India)
• LinkedIn (U.S.)
• Aon Group (U.K.)
• Allegis Group (U.S.)
• Robert Half (U.S.)
• 51job (China)
• Quess Corp Limited (India)
• CareerBuilder (U.S.)
• ADP, LLC (U.S.)
• Adecco (Switzerland)
• CIIC Group (China)

Report Coverage

The industry's growth was significantly influenced by the tactics employed by market participants in recent years, such as extensions. The report provides details and information on the companies and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding machinery and equipment. Other criteria considered for this market are the firms that develop and provide new products, the areas in which they operate, mechanisation, innovative techniques, making the most money, and using their products to have a large social impact. This analysis examines the global and regional effects of the outbreak mostly on the market. The study describes the market share features, and market growth by type, industry, and customer sector.

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 like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.