The online recruitment market size is projected to reach US$ 58.16 billion by 2031 from US$ 33.60 billion in 2023. The market is expected to register a CAGR of 7.1% during 2023–2031. The rising use of mobile-based recruitment solutions is likely to remain a key trend in the market.
The internet is a fast-changing field of work reason of the digital age's spreading and connectivity of social networks as the increased recruitment market demands the streamlining and affordability of the recruitment process. The use of these platforms in the case of cloud solutions and a gig-focused economy makes online recruitment platforms essential for connecting job seekers with companies. Also, the trend persists with more companies using mobile-based ways of recruitment which has made recruitment more accessible and convenient for both the companies and participants. As the digital transformation trend is ongoing, businesses will continue to desire more innovative online recruitment technologies, which, therefore, will see a lucrative market characterized by many companies and job seekers looking for these new advancements.
Online recruitment is a hiring process with the assistance of digital platforms and technology that offers many benefits to both employers and job seekers. The method gives a competitive advantage by saving time and money and making it possible to reach more applicants. It implies the use of technology to extend the full recruitment life circle through employment pre- screening, background checking, and assessments, and the result is more efficient and less time to the finding of qualified job seekers.
Development in the outsourcing sector of manpower through online recruitment platforms results in automated workouts, recruitment and the adoption of hi-tech-based solutions by providers. The shift to online recruitment platforms is driving the industry forward, with automation of recruitment processes and technology integration by talent acquisition and HR management solution providers. This is changing the way organizations find and connect with potential candidates, making the process faster and more efficient. The gig economy is also benefiting big time from online recruitment services as they help match freelancers with short-term or project-based work, thus expanding the market. So the online recruitment space is growing rapidly as more and more are relying on digital platforms for talent acquisition, and the flexible work landscape is evolving. Further, the gig economy becomes stronger due to online recruitment services that pair freelancers with temporary or project-based work, thus propelling market growth.
The use of mobile-based recruitment solutions, according to a survey, will directly result in the expansion of the market owing to the job applicants' convenience in searching and applying for job opportunities from home using various job search engines and recruitment websites as means of searching. Apart from this, the increasing employment opportunities, in turn, pushed the demand for online recruiting platforms such as recruitment and job management services to the point when they could manage recruitment and training of candidates through means of complex databases that were human readable.
Key segments that contributed to the derivation of the online recruitment market analysis are job type and application.
The geographic scope of the online recruitment market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The online recruitment market in North America is the fastest at adapting to new and better technologies. The US and Canada are among the leading countries in this market. The high internet penetration rate and digitalization among companies in North America have not only helped in the efficient acquisition of candidates but also helped in the promotion of various recruitment software, along with the overall process, due to the recruitment of workers.
The regional trends and factors influencing the Online Recruitment Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Online Recruitment 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$ 33.60 Billion |
| Market Size by 2031 | US$ 58.16 Billion |
| Global CAGR (2023 - 2031) | 7.1% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Job Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Online Recruitment 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 Online Recruitment Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The online recruitment market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the online recruitment market are listed below:
(Source: Paradox, Inc., Company Website, November 2023)
(Source: Paradox, Inc., Company Website, March 2023)
The “Online Recruitment Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The market is projected to record a CAGR of 7.1% during 2023–2031.
The market is expected to reach a value of US$ 58.16 billion by 2031.
ABC Consultants, Glassdoor, Inc., iPlaceUSA, Inc., itForte, Info Edge (India) Ltd. (naukri.com), LinkedIn Corporation, Multi Recrut, SH Inc., StepStone GmbH, TalenTECH Solutions Pvt Ltd (Hiring Plug) are key players in the market.
Increasing number of small & medium-sized businesses is a key trend in the market.
Increasing demand for online recruitment platforms is driving the market.