Online Recruitment Market Opportunities [2021-2031]
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.
Online Recruitment Market Analysis
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 Market Overview
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.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Online Recruitment Market: Strategic Insights
Market Size Value in US$ 29292.3 Million in 2021 Market Size Value by US$ 47315.0 Million by 2028 Growth rate CAGR of 7.1% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Online Recruitment Market: Strategic Insights
| Market Size Value in | US$ 29292.3 Million in 2021 |
| Market Size Value by | US$ 47315.0 Million by 2028 |
| Growth rate | CAGR of 7.1% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Online Recruitment Market Drivers and Opportunities
Increasing Demand for Online Recruitment Platforms
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.
Rising Use of Mobile-based Recruitment Solutions
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.
Online Recruitment Market Report Segmentation Analysis
Key segments that contributed to the derivation of the online recruitment market analysis are job type and application.
- Based on job type, the market is bifurcated into permanent and part-time. The permanent segment held a significant market share in 2023.
- Based on application, the market is segmented into finance, sales & marketing, engineering, IT, and others. The finance segment held a significant market share in 2023.
Online Recruitment Market Share Analysis by Geography
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.
Online Recruitment Market Report Scope
Online Recruitment Market News and Recent Developments
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:
- Paradox, the conversational recruiting platform helping global employers like Unilever, General Motors, Marriott International, and McDonald’s automate hiring work with conversational AI, was named to the Deloitte Technology Fast 500 list for the third consecutive year. This also marked the third year in a row that Paradox was the highest-ranked company in the recruiting software industry.
(Source: Paradox, Inc., Company Website, November 2023)
- Paradox, the conversational hiring software helping global employers like Unilever, Nestle, L’Oreal, CVS Health, and General Motors transform hiring with automation that gets recruiting work done faster, today announced the launch of its Conversational ATS. Designed from the ground up to completely reimagine the high-volume hiring process, the product obsessively focuses on delivering the best frontline candidate and hiring manager experience in the world.
(Source: Paradox, Inc., Company Website, March 2023)
Online Recruitment Market Report Coverage and Deliverables
The “Online Recruitment Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Online recruitment market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Online recruitment market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Online recruitment market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the online recruitment market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Job Type and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
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.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Get Free Sample For