Asia Pacific Online Recruitment Market Key Players and Opportunities by 2028

The online recruitment market in APAC is expected to grow from US$ 6,825.11 million in 2021 to US$ 12,467.50 million by 2028; it is estimated to grow at a CAGR of 9.0% from 2021 to 2028.

The China, Japan, and India are major economies in APAC. Integration of technologies in online recruitment are the major factor driving the growth of the APAC online recruitment market. Recruiters are constantly using HR automation software in their work. These integrated technology solutions aid in the identification, attraction, engagement, nurturing, and conversion of candidates into applicants. These tools streamline the recruiting process by automating it, making it more effective and quicker. AI is being used by a growing number of companies in their recruiting processes. Various solutions such as applicant tracking software, interviewing software, and candidate relationship management software are enhancing the overall online recruitment processes. To take optimum advantage of online recruitment, recruitment firms are implementing data analytics-driven solutions for their applicant tracking processes. Jobvite unveiled a data science strategy to power its HR product portfolio in January 2020. This program aims to ensure that company recruiters are given the best-fit applicants and that both candidates and recruiters are not wasting time. This data-driven approach combines various algorithms and data sources to cover both enterprise-wide recruiting preferences and employee recruiter preferences. To increase technology adoption in online recruitment processes, recruitment firms are forming several cutting-edge technology alliances. For example, Talview, an AI recruitment startup, announced in January 2020 that it had become an integration partner with LinkedIn's Talent Hub applicant tracking system. Talview's live interviewing services are now incorporated into the LinkedIn Talent Hub experience, allowing businesses to source, manage, and recruit applicants from a single source. Thus, the above-mentioned factors, coupled with the availability of various recruitment solutions in the market, are influencing the adoption of online recruitment processes, thereby driving the market, which is further anticipated to drive the market in APAC.

The COVID-19 pandemic has severely impacted APAC due to wide disease spread; countries in this region are among the highly populated, which leads to the greater risk infection spread. Many global brands and technological companies are headquartered in the region. According to the Organization for Economic Co-operation and Development (OECD), the pandemic has affected major economies such as China, India, Australia, and Japan, which are experiencing inflation. The COVID-19 pandemic, according to the Asia–Pacific Employment and Social Outlook 2020, would have wiped out 81 million workers by 2020. As per the quarterly data available for 2020, employment levels fell in virtually all economies, compared to those in 2019. Working hours in Asia and the Pacific countries fell by 15.2% in the second quarter and 10.7% in the third quarter of 2020, compared to pre-crisis levels. Working-hour losses are also contributed to the fact that millions of people left the labor force or lost their jobs due to plummeted growth of enterprises. Thus, the online recruitment providers experienced adversely effects in APAC countries during the first three quarters of 2020. However, with the gradual opening of economic activity across the region, the demand for skilled workforce has begun to rise across all industries from the end of 2020, thereby contributing to the rise in demand of online recruitment across the region

 

APAC Online Recruitment Market Segmentation  

APAC Online Recruitment Market – By Job Type

• Permanent
• Part-Time

APAC Online Recruitment Market – By Application

• Finance
• Sales and Marketing
• Engineering
• IT
• Others

APAC Online Recruitment Market – By Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC

APAC Online Recruitment Market -Companies Mentioned

• ABC Consultants
• Glassdoor, Inc.
• Info Edge (India) Ltd. (naukri.com)
• iPlaceUSA, Inc.
• itForte
• LinkedIn Corporation
• Multi Recruit
• SH Inc
• StepStone GmbH
• TalenTECH Solutions Pvt Ltd (Hiring Plug)

Asia Pacific Online Recruitment Report Scope