The global diversity recruiting software market size is expected to grow from US$ 11.21 billion in 2023 to US$ 35.50 billion by 2031; it is anticipated to expand at a CAGR of 15.5% from 2024 to 2031. The increasing use of big data and analytics is likely to remain a key diversity recruiting software market trends.
The growing demand for improved communication and productivity is the primary driver of the diversity recruiting software industry. Recruiting software solutions, including as application tracking systems, promote communication by keeping both candidates and recruiters informed.
Diversity recruiting software is a cutting-edge technological solution that improves and streamlines the recruitment process while encouraging diversity and inclusion inside an business. This program uses complex algorithms and data analytics to find and recruit a wide pool of competent individuals for job opportunities. One of the most important benefits of diversity recruitment software is its capacity to eliminate unconscious bias throughout the hiring process. The program uses artificial intelligence and machine learning to scan job descriptions and identify potential biases, such as gender-specific language or age-related preferences, ensuring that job advertisements are inclusive and appealing to a diverse range of candidates. Furthermore, the program allows recruiters to reach a larger audience by automatically advertising job postings on numerous diversity-focused job sites.
One of the primary aspects driving the diversity recruitment software industry is the growing demand for improved communication and productivity. Recruiting software solutions, like as application tracking systems, help to improve communication channels between candidates and recruiters, keeping them informed throughout the recruiting process. Effective communication is required for successful diversity recruitment. It enables recruiters to access a bigger pool of candidates and assures that all applicants, regardless of background, have an equal chance of being evaluated for a post. Using technology like as messaging apps, chatbots, and social media, recruiters may more effectively discover top talent, identify possible contacts, and communicate with candidates and workers.
Organizations are increasingly using automated resume screening systems that rely on artificial intelligence (Al) to evaluate candidates' abilities and expertise. This trend is likely to accelerate and simplify the diversity recruiting process. Al-based technologies, like as Resume Scorer and Optical Character Recognition (OCR), are used to match candidates' resumes to the abilities and competencies required for a certain job. These technologies may recognize hard capabilities, job-related soft skills, and even applicant personality traits. Al eliminates mistakes associated with manually reviewing thousands of resumes by automating the screening procedure.
Key segments that contributed to the derivation of the diversity recruiting software market analysis deployment and enterprise size.
The geographic scope of the diversity recruiting software market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. North America dominated the diversity recruiting software market in 2023. The growing need for software solutions that support diverse workforce recruitment and retention is driven by the recognition of the vital role diversity plays in the workplace. Organizations are investing in software solutions to facilitate their diversity and inclusion goals. In North America, this trend is further fuelled by the rising number of companies embracing diversity and inclusion initiatives. These organizations are seeking software solutions to effectively identify and attract diverse talent, as well as monitor and evaluate the success of their diversity programs.
The regional trends and factors influencing the Diversity Recruiting Software Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Diversity Recruiting Software Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 11.21 Billion |
| Market Size by 2031 | US$ 35.50 Billion |
| Global CAGR (2024 - 2031) | 15.5% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Deployment
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Diversity Recruiting Software Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Diversity Recruiting Software Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The diversity recruiting software market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
(Source: SmartRecruiters, Press Release, 2021)
The "Diversity Recruiting Software Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
The global diversity recruiting software market is expected to reach US$ 35.50 billion by 2031.
The key players holding the majority of shares in global diversity recruiting software are Entelo, Inc., GR8 People, Inc., Greenhouse Software, Inc., hireEZ, and SmartRecruiters.
The increasing use of big data and analytics is likely to remain a key diversity recruiting software market trends.
The major factor driving the diversity recruiting software market is the increasing need for enhanced communication capabilities and productivity.
The diversity recruiting software market size is expected to grow from US$ 11.21 billion in 2023 to US$ 35.50 billion by 2031; it is anticipated to expand at a CAGR of 15.5% from 2024 to 2031.