Report Overview

In 2022, the global online recruitment market size was valued at USD 31.75 billion and it is expected to reach USD 59 billion in 2032. Between 2023 and 2032, this market is estimated to register the highest CAGR of 6.4% and a market value of USD 58.13 billion.

Online Recruitment, E-Recruitment, or Internet Recruitment is the process of filling vacancies and finding, attracting, interviewing, and hiring new employees and Potential candidates for a company using web-based resources and software. Cloud-based or web-based software allows you to post jobs, accept applications, communicate with applicants, and monitor progress throughout the hiring process.

Online recruitment also benefits from active and passive recruitment techniques. This means that ideal candidates can apply immediately. If it works, you can fill the company’s database of candidates for future positions. Digitalization of all businesses led to the market growth of the online recruitment market.

Global Online Recruitment Market Scope:

Type Analysis

The online recruitment segment for permanent employees is expected to drive the growth of the online recruitment market share over the forecast period, owing to growth in the corporate sector and increasing demand for stability among workers and employers. With the increasing implementation of innovative, intuitive, and efficient recruitment solutions, job seekers can find the right jobs in full-time employment.

In addition to the potential benefits of permanent employment, such as paid leave, retirement benefits, and health insurance, the demand for permanent employment online is likely to increase among workers, especially as income and job security increase. I have.

On the other hand, the part-time online recruitment segment is expected to grow due to the increasing demand for contract workers in various sectors of the online recruitment market.

Application Analysis

The global online recruiting industry is divided into applications such as manufacturing, service, finance, sales and marketing, engineering, IT, and others. Businesses had a double-digit increase in hiring activity in the IT industry, indicating that the sector has largely recovered in terms of job creation since the epidemic.

Because of the ongoing need for qualified people, the IT industry is maintaining its upward recruiting trend. Nonetheless, people in the hotel and catering industries are more likely to use web-based recruitment platforms and solutions.

Key Market Segments:

Based on Type

• Permanent Online Recruitment
• Part-Time Online Recruitment

Based on Application

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

Based on Region

• North America
• Latin America
• Eastern Europe
• Western Europe
• APAC
• Middle East and Africa

Market Dynamics:

Drivers:

Putting an emphasis on automation in the hiring process to help growth

• With the advent of internet technology, the way the recruitment process is conducted has evolved significantly in recent years. A significant shift from traditional recruitment methods to more productive and low-cost methods has become a major concern for businesses and government agencies.
• Most companies are embracing Web-based recruitment platforms (e-recruitment) instead of traditional recruitment methods.
• Additionally, potential job seekers have become more involved in searching for and applying for job opportunities via the Internet which is also called the online recruitment process.
• In order to generate the necessary pool of candidates, companies strive for compelling, abundant, user-friendly, and user-friendly online recruitment channels via their platforms or online recruitment portals.
• E-recruitment has currently been adopted by numerous businesses of all sizes. However, the majority of businesses today use e-recruitment for advertising job openings, sanctioning requests for interviews, and emailing candidates.
• Therefore, the Internet and information technology have changed traditional hiring procedures and given the company a chance to locate possible employees who are qualified for the position.

Restraints:

Growth is being hampered by an increasing number of fraudulent online applications.

Due to the high number of online applicants being increased due to easy access to the Internet, companies, and recruiters find it difficult to recruit specific employees while reducing the number of unqualified candidates.

Not all online recruitment services offer detailed information analysis of coverage, making it difficult to determine what works and how to optimize advertising. Care should be taken to describe the job listing and describe the position and skills sought as clearly as possible to avoid unsolicited applications.

Most recruitment procedures are done online at companies that do not require exams. Especially for offshore companies, interviews are usually conducted via Skype or telephone.

In this case, hiring managers and recruiters cannot vouch for the person’s professional ethics, especially for specific cultures and conditions. While many applications can be fraudulent to obtain company and recruiter details, spammers can use online information to solicit services from companies.

Data could allow malicious hackers to use their available knowledge to try to gain access to your organization’s IT systems.

Opportunity

A recruitment website can assist job searchers in finding employment prospects quickly and conveniently because of its extended duration, low costs, and abundance of options. The drawbacks of poor recruitment information site validity, a small variety of segments, system flaws, and other hazards are there.

Industry Analysis and Insights: Worldwide and US Online Recruitment Services Market This study is focused on the global and US online recruitment services market, and it also includes information on the segmentation of various geographic areas at the regional and county levels.

Trends

Online Recruitment or Internet Recruitment, also known as E-Recruitment, refers to recruiting and recruiting through the Internet and online modes. Simplified the hiring process by finding and interviewing candidates online.

Online hiring has reduced the paperwork required to find and hire candidates. Businesses provide a more cost-effective and efficient way to fill vacancies. High-speed internet connections and increasing availability of internet-enabled devices such as tablets, laptops, and smartphones are major trends driving the global online job market.

Candidates can easily apply for more positions, and companies have access to a wider range of candidates. Market demand for online recruitment is likely to increase in the coming years as several government agencies and businesses move from traditional recruitment methods to more cost-effective and efficient online modes.

COVID-19 Impact Analysis

The COVID-19 pandemic outbreak has faced many challenges for the US industry. The impact on the industry, therefore, has a direct impact on economic development in North America. The United States is the hardest-hit country in the world by the COVID-19 outbreak.

With the resulting recession, the country’s unemployment number rose from her 6.2 million in February 2020 to her 20.5 million in May 2020, an increase of more than 14 million. As a result, her 2020 unemployment rate in the US rose from 3.8% in February to her 13.0% in May.

The rising unemployment rate continued her April at 14.4%. This brought the recruitment process to a halt across the region, impacting the online recruitment market. However, since the third quarter of 2020, the number of COVID cases in the US has begun to decline, triggering a gradual normalization of economic activity in the country.

This has increased the demand for products and services across the region. In addition, improved vaccine distribution and administration policies have led to a higher-than-expected rise in job openings in the United States in February 2021.

According to data released by the Job Openings and Labor Turnover Survey (JOLTS), the number of job openings in 2021 has increased from 7.1 million in February 2021 to 7.4 million in March 2021 bottom. Nonetheless, there is still a long way to go before the labor market recovers to the level of the end of 2021. U.S. adoption has risen from 3.8% in February 2020 to 4% in February 2021.

Demand for online recruitment has surged across the region to easily and quickly recruit talent while maintaining social distancing. The online job market is segmented by job category, application, and geography.

Based on job type, the market is segmented into full-time and part-time. In 2021, the permanent segment owns the largest market share. In terms of applications, the market is segmented into sales and marketing, finance, engineering, IT, and others.

In 2021, the IT segment will hold a larger market share. Geographically, the global online job market is roughly divided into North America, Europe, Asia Pacific (APAC), South America (SAM), the Middle East, and Africa (MEA). In 2020, the North American segment accounted for a large share of the global market.

Regional Analysis

Environmentally, the market is described into five major regions namely: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific, Middle East & Africa. They are further categorized by country. North America accounted for USD 13,652 million in 2022 and is likely to remain dominant over the forecast period.

This is due to the adoption of advanced recruitment solutions among small businesses and large corporations. From the introduction of recruitment via social media to the launch of mobile recruitment platforms, the online recruitment industry has seen many changes in recent years aimed at improving the recruitment process for both employers and employees in the region increase.

Recruitment marketing technology and AI will enable employers and recruiters in the region to scale more administrative tasks related to recruitment, including This can increase productivity by more than 50%, allowing recruiters to devote more time to technical tasks.

Additionally, recruiters in the region use assessment tools and software to validate candidates’ skills. Technological advances such as AI and data mining have brought more support and recruitment efficiency to employers in the region. Additionally, the availability of high-speed internet connections, smart media prevalence, and advanced technology provide unprecedented opportunities for key players to provide assessment tools and services to identify suitable candidates for their positions is provided.

Although the economies of the Asia-Pacific region have grown exponentially in recent years, unique factors impact the likelihood of a successful recruitment process in these regions. Despite the rapid growth rates of these developing countries, countries such as China, Japan, India, and even Australia are transitioning from agricultural societies to new urban societies.

The problem for companies is successfully attracting the resources needed to support a significant increase in global business processes. Talent acquisition and HR management solution providers in the region are witnessing significant growth as companies tend to automate their recruitment processes and keep pace with trends in technological advancements.

According to the World Bank, the Asia-Pacific region accounts for 50% of the world’s total workforce, a steady increase in recent years. A combination of demographic and economic factors, coupled with a dramatic increase in the region’s startup ecosystem and emerging companies in the coming years, presents great opportunities for market growth in the region.

Europe is expected to maintain solid economic development in 2019, with high levels of trust between professionals and employers contributing to a favorable employment environment. In Europe, the market will continue to thrive as IT, and engineering firms continue to hire at a rapid pace.

Recruitment activity is picking up in banking, legal, and staffing agencies, and the expansion of small businesses and large competitors continues to strengthen their market position. Strong growth is expected in Latin America during the forecast period.

The growth of this recruitment industry in Latin America is largely due to the ongoing shift from traditional recruitment platforms to more efficient and advanced recruitment and talent acquisition solutions online platforms. Solution providers in the region have implemented solutions that integrate with existing business platforms, helping companies eliminate time-consuming tasks.

The Middle East and Africa region have seen significant changes in the industry in recent years due to the growing demand for labor in small and medium-sized enterprises and increasing numbers of workers from rural areas and middle-class families.

Key Regions and Countries Covered in this Report:

• North America
  • The US
  • Canada
  • Mexico
• Latin America
  • Colombia
  • Chile
  • Brazil
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• APAC
  • China
  • Vietnam
  • Japan
  • Indonesia
  • South Korea
  • India
  • Australia & New Zealand
  • Singapore
  • Thailand
  • Malaysia
  • Philippines
  • Rest of APAC
• Middle East & Africa
  • Algeria
  • Egypt
  • United Arab Emirates
  • Saudi Arabia
  • Kuwait
  • Nigeria
  • Israel
  • South Africa
  • Turkey
  • Rest of the Middle East and Africa.

Market Share & Key Players Analysis:

To give organizations effective solutions, market leaders like LinkedIn, HackerRank, TalentLyft, Naukri.com, Indeed, Zoho Corporation Pvt. Ltd., and others are creating novel products and implementing cutting-edge technologies. On the other hand, other significant businesses, including WeLove9am, Tribepad Ltd., and others, are forming strategic alliances to advance their market positions and build their brands.

Recent Developments:

Total jobs Video Interviewing, video calling software designed to allow businesses to conduct live interviews during the COVID-19 outbreak, was launched in April 2020 by recruiting firm Totaljobs Group Ltd. Pre-record and share functions are also included in the software.

ConqHR, a brand-new HR suite, was unveiled in January 2020 by IndiaFilings.com, a cloud-based business service provider based in India. The full cloud-based suite’s assistance with payroll, compliance, onboarding and attendance management will be beneficial to both large and small businesses.

Listed below are some of the most prominent Online Recruitment industry players.

Market Key Players:

• com (Noida, India)
• LinkedIn (California, United States)
• Zoho Corporation Pvt. Ltd. (Chennai, India)
• Indeed (Texas, United States)
• TalentLyft (Croatia, Europe)
• Self-Management Group (Canada, United States)
• HackerRank (California, United States)
• Pymetrics (New York, United States)
• iCIMS (New Jersey, United States)
• Ultimate Software (UltiPro) (Florida, United States)
• Monster Worldwide, Inc. (Monster.com) (Massachusetts, United States)
• Jobvite, Inc. (California, United States)
• Ideal (Ontario, United States)
• Textio (Washington, United States)
• SAP SE (Walldorf, Germany)
• Recruiterbox Inc (Seattle, United States)
• com (Amsterdam, Europe)
• BambooHR LLC (United States, North America)
• CEIPAL Corp. (Rochester, United States)
• iSmartRecruit (New Jersey, United States)