Diversity Recruiting Software Market is expected to reach US$ 709.5 Mn by 2027

The global diversity recruiting software market was valued at US$ 357.1 million in 2019 and is projected to reach US$ 709.5 million by 2027; it is expected to grow at a CAGR of 9.4% from 2020 to 2027.The scope of this study involves understanding the factors contributing to the market growth; it also includes estimating and forecasting the revenues, conducting the market share analysis, and spotting significant market players along with their key developments.

Diversity recruiting software helps recruiters, HR departments, and hiring managers to design and manage various diversity recruitment initiatives. Also, these technologies for hiring diversity help companies build diverse teams by retaining, sourcing, and hiring candidates from underrepresented groups based on race, gender, etc. A few diversity recruiting software focus on reducing unconscious bias by creating blind skill-based screening solutions, while others focus on increasing talent pool diversity by sourcing from underrepresented groups. Moreover, as more executives and job seekers prioritize diverse teams, key diversity recruiting events become more competitive each year.

Organizations are emphasizing on enhancement of candidate experience and improvement of their organizational efficiency, which contributes to the widespread adoption of diversity recruiting software systems across the world. Additionally, other factors, such as growing need to replace traditional hiring methods to minimize paperwork, emerging trends in social recruitment, and increasing number of start-ups, particularly in developing economies, are projected to drive the market growth further. The diversity recruiting software market is segmented based on deployment and enterprise size. Based on deployment, the diversity recruiting software market is segmented into on-premise and cloud. Based on  enterprise size, the diversity recruiting software market is categorized into small and medium enterprises and large enterprises. The key market players profiled in the report are Be Applied Ltd, Eightfold AI, Inc, Entelo, GR8 People, Inc., Greenhouse Software, Inc., Hiretual, HiringSolved, Plum, inc., Pymetrics, and SeekOut.

Geographically, the global diversity recruiting software market is segmented into five major regions —North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). Europe is expected to offer multiple growth opportunities to market vendors during the forecast period. Increased adoption of job-related mobile applications would significantly boost the growth of the diversity recruiting software market in the region during the forecast period. The UK, Germany, and France are the major regions for the diversity recruiting software market in Europe.

Impact of COVID-19 Pandemic on Diversity Recruiting Software Market

Spain, Italy, Germany, the UK, and France are among the worst affected member states in the European region due to the outbreak of COVID-19. Owing to business lockdowns, travel bans, and supply chain disruptions.  According to data from the Recruitment and Employment Confederation, the UK recruitment industry has also seen a steep drop due to the pandemic. The impact of lockdowns on the labor market and the economy has resulted in the recruitment of the company's transition to flexible work models to avoid disrupting customer and candidate services while protecting their workers. At the same time, sector-specific demand for services has varied dramatically. Various recruiting markets have been experiencing declines in demand, while others have seen increases. Also, recruiting companies across Europe and the UK are taking legal steps to protect their employees from cutbacks and avoid redundancies. In Switzerland, the government has opened a short-time work program for temporary workers. Temporary workers in Switzerland are not typically eligible for the program, but 80% of their wages can be compensated due to the crisis.

Global Diversity Recruiting Software Market Breakdown – by Region, 2019

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Diversity Recruiting Software Market Growth Report by 2031

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Diversity Recruiting Software Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Deployment (Cloud and On-premises), Enterprise Size (Small and Medium Enterprises (SMEs) and Large Enterprises), and Geography

The Report Includes the Segmentation of the Global Diversity Recruiting Software Market as Follows:

By Deployment

• Cloud
• On-Premise

By Enterprise Size

• SMEs
• Large Enterprises

By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • Italy
  • UK
  • Russia
  • Rest of Europe
• Asia Pacific (APAC)
  • Australia
  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC
• Middle EAST & Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA
• South America
  • Brazil
  • Argentina
  • Rest of SAM