Online Recruitment Services Market Report Overview
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The global online recruitment services market size was USD 29000.0 million in 2021 and is expected to reach USD 55688.57 million in 2031, at a CAGR of 6.74% during the forecast period.
Online platforms and recruiting services are used to streamline the hiring process. These terms include e-recruitment and digital recruitment. Employers may use these services to post job opportunities online, look for and evaluate prospects, and get in touch with possible employees. In addition to resume management, applicant monitoring, and job matching tools, online recruiting firms may also offer these services. The simplicity and quickness of the procedure are two of the key advantages of online recruiting services. Without the requirement for in-person interviews, employers may quickly post job opportunities and analyze applications from a wide pool of applicants. Additionally, candidates may easily communicate with businesses and submit job applications from any location with an internet connection.
With so many businesses providing comparable services, the market for internet recruiting services is quite competitive. Indeed, LinkedIn, and Monster are a few of the major companies in the business. The simplicity and cost-effectiveness of online recruiting as well as the rising use of the internet for job searching are likely to fuel online recruitment services market groiwth in the next years. Due to the simplicity and affordability of online recruiting for both job seekers and employers, as well as the rising use of the internet for job searching, the online recruitment services market size has seen tremendous growth in recent years. Online recruiting services make it possible for job searchers to look for and apply for positions from any location with an internet connection while also giving companies access to a larger talent pool.
COVID-19 Impact: The Pandemic Has A Beneficial Effect On The Market Since There Is A Huge Increase In Demand For These Services
The global COVID-19 pandemic has been unprecedented and staggering, with the online recruitment services market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The rise in CAGR is attributable to the online recruitment services market growth and demand returning to pre-pandemic levels once the pandemic is over.
Online recruiting services are in more demand as a result of the abrupt transition to remote work and the economic crisis brought on by the pandemic, since both job seekers and businesses are using the internet to communicate and locate employment prospects. The pandemic's primary effects on the market for online recruiting services have been a rise in the number of users. Due to the economic crisis, many firms have had to lay off or furlough staff, which has left many individuals without jobs and searching for new employment prospects. Online recruiting services are now more popular since the internet has made it simple and convenient for job searchers to look for and apply for positions. In addition, more firms are now employing online recruiting services to discover and hire new staff as a result of the COVID-19 pandemic. Employers now find it more challenging to meet and interview candidates in person as a result of the transition to remote work, thus many now use online recruiting services as a substitute.
"Use Of Cutting-Edge Technologies To Support Market Growth"
The industry has benefited from the introduction of cutting-edge technologies including big data, cloud computing, and artificial intelligence. The majority of hiring managers and management experts concur that the emergence of new employment patterns is driven by the great availability of data, which encourages organisations to hire new workers. Companies receive insights from data from several sources that aid hiring managers in selecting candidates. Data is being used by hiring managers to make business decisions. This suggests that in order to effectively hire new employees, recruiters must develop effective talent analytics strategies that use data.
Recruiters may automate the applicant search process with chatbots and AI-enabled recruiting software. AI and automation are transforming workplaces to simplify and automate recruitment workflows as well as high-volume, repetitive duties, according to a 2017 poll by Harvey Nash Human Resources that included HR members from more than 40 nations. People analytics assist businesses in moving away from traditional hiring practises based on arbitrary criteria that may not have anything to do with an employee's likelihood of performing well at any given organisation. The Big Data approach precisely identifies the factors already in place that influence employee performance and productivity, as well as attracting candidates who meet those requirements. Additionally, this approach enables executives and recruiters to comprehend interviewers.
Online Recruitment Services Market Segmentation
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- By type
Depending on online recruitment services given are types: Permanent Online Recruitment, Part Time Online Recruitment. The Permanent Online Recruitment type will capture the maximum market share through 2027.
- By Application
The market is divided in Secretarial/Clerical, Accounting/Financial, Computing, Technical/Engineering, Professional/Managerial, Nursing/Medical/Care, Hotel/Catering, Sales/Marketing & Other Industrial based on application. The global online recruitment services market players in cover segment like Secretarial/ Clerical will dominate the market share during 2021-2027.
"An Increase In Social Media Exposure To Drive Market Growth"
The emergence of social networking has transformed how knowledge is shared and created new opportunities for engagement. It paints a clear picture of exciting potential for the recruiting sector as social networking infrastructure starts to spread and flourish. The role of social media has considerably increased as the global corporate climate has changed. Recruiters are aware of the need for more creative approaches to enhancing the company plan by interacting with talent across a wide range of social media platforms. Due to social media's widespread use, companies now understand how to use it for marketing. Social networking, which has entered the recruitment industry, is now one of the hiring trends that is gaining traction with many businesses and thus boosting online recruitment services market growth. A business may find that social networking is a potent tool that it may use to publicize job openings and gain a competitive advantage in order to draw in a larger pool of potential candidates. Businesses now rely more on social networking than they do on newspapers, radio, or recruiting firms. Utilizing social media has altered the hiring process for many companies globally in recent years.
"Increased Emphasis On Automation Of The Hiring Process To Support Growth"
The recruiting process has changed dramatically in recent years because to the development of internet technologies. Companies and governmental bodies are currently focused on making a big transition from the conventional manner of hiring services to more effective, affordable approaches. The majority of businesses now use e-recruitment platforms rather than more conventional hiring techniques. Additionally, online job hunting and application processes grew increasingly popular among prospective employees. Companies strive to build engaging, rich content, simple to use, and user-friendly recruitment on their platforms or through online job portals to generate the necessary pool of applicants. E-recruitment has currently been adopted by several businesses of all sizes. However, the majority of businesses today use e-recruitment to advertise job openings, sanction requests for interviews, and email candidates. Therefore, the internet and information technology have changed the traditional hiring procedures and provide the company a chance to locate possible employees who are qualified for the position fueling the online recruitment services market growth.
"Rising Online Fraudulent Application Rates To Stagnate Growth"
Due to the abundance of online applications brought on by the ease of internet access, employers and hiring managers find it challenging to select the right personnel while eliminating the unqualified ones. Because not all online recruiting providers provide a thorough information analysis and reporting, it is challenging to ascertain what is effective and how to improve marketing. To reduce the number of applications they receive, employers should be cautious when describing their job openings and be as specific as they can be about the roles and abilities they are looking for. The majority of recruiting processes are conducted online by companies that may not require tests. In-person and phone interviews are frequently conducted, especially for offshore businesses. In this situation, hiring managers and recruiters cannot guarantee a person's professional ethics, particularly given certain cultures and environmental factors. While spammers can use internet information to market a service to companies, many applications may be fake in order to get information about the company or the hiring officer. Businesses that use online job postings may contain a lot of data, which might make it easier for unscrupulous hackers to access the organization's IT systems.
Online Recruitment Services Market Regional Insights
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"The Simplicity And Growing Popularity Of Using The Internet For Job Searching Are What Are Driving The Market In North America"
The market for online recruiting services in North America is extremely competitive and dynamic, driven by the rise in online job searching as well as the ease and affordability of online hiring for both companies and job seekers. The market for online recruiting services in North America has a number of significant firms, including Indeed, LinkedIn, and Monster. These businesses provide a variety of services, including social networking platforms, application tracking systems, and job search websites (ATS). As more job seekers and businesses resorted to the internet to connect and locate employment prospects, the COVID-19 pandemic had a huge influence on the North American online recruitment services market share, driving up demand for these services. This tendency has also been influenced by the move toward remote employment and the economic crisis brought on by the pandemic. The North America online recruitment services market share is anticipated to expand over the upcoming years due to the simplicity and affordability of online recruitment as well as the rising use of the internet for job searching.
Due to the simplicity and affordability of online recruiting for both job seekers and employers, as well as the rising usage of the internet for job searching, the Asia Pacific online recruitment services market share is expanding quickly. China, India, and Australia are just a few of the nations in the Asia Pacific area that are significant participants in the market for online recruiting services. With a sizable and constantly expanding internet user base, China has the largest online recruiting market in the area, with a substantial number of job search websites and social media platforms serving the nation. The enormous and expanding internet population of India is serviced by a variety of job search websites and social media platforms, making India a significant player in the global online recruiting industry. With several job-search websites and social media platforms serving the country's sizable and highly educated population, Australia has a well-developed online recruiting sector. Due to the simplicity and affordability of online recruiting, as well as the rising use of the internet for job searching, the Asia Pacific online recruitment services market growth is anticipated to expand over the coming years. There are several businesses offering services that are comparable in this highly competitive sector. Indeed, LinkedIn, and Zhaopin are some of the major companies operating in the sector.
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 Market Players Profiled
- Monster (U.S)
- Startpagina.nl (Netherlands)
- Robert Half (U.S)
- SimplyHired (U.S)
- Naukri (India)
- Recruit (Japan)
- Jobboom (Canada)
- TopUSAJobs (U.S)
- 51job (China)
- Craigslist (U.S)
- Indeed (U.S)
- Jobrapido (Italy)
- Jobcentre Plus (U.K)
- Zhilian (China)
- Glassdoor (U.K)
- 123-emploi (Canada)
- LinkedIn (U.S)
- Dice Holdings (U.S)
- SEEK (Australia)
- StepStone (U.S)
- Eluta (Canada)
- Totaljobs.com (U.K)
- Apec.fr (France)
- 104 Job Bank (Taiwan)
- VIADEO (France)
- CareerBuilder (U.S)
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, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
Market Size Value In
US$ 29000 Million in 2021
Market Size Value By
US$ 55688.57 Million by 2031
CAGR of 6.74% from 2021 to 2031
Historical Data Available
Type and Application
Frequently Asked Questions
What value is the global online recruitment services market expected to touch by 2031?
The global online recruitment services market is expected to touch USD 55688.57 million by 2031.
What CAGR is the online recruitment services market expected to exhibit during 2024-2031?
The online recruitment services market is expected to exhibit a CAGR of 6.74% over 2024-2031.
Which are the driving factors of the online recruitment services market?
Increase in social media exposure and increased emphasis on automation of the hiring process are the driving factors of the online recruitment services market.
Which are the top companies operating in the online recruitment services market?
Monster, Startpagina.nl, Robert Half, SimplyHired, CareerBuilder are some of the top companies operating in the online recruitment services market.