Online Recruitment Market Expected to Reach $29292+Mn by 2028 | Industry Growth with 7+%, Share, Size Trends&Key Players

Integration of Artificial Intelligence (AI) in Recruitment to Provide Growth Opportunities for Online Recruitment Market during 2021–2028

NEW YORK, UNITED STATES, November 14, 2022 /EINPresswire.com/ -- Latest launched research document on “Online Recruitment Market Size, Share, Growth, Industry Trends and Forecast to 2028 – COVID-19 Impact and Global Analysis – by job type and application” study of 144 Pages provides detailed analysis with presentable graphs, charts and tables. Online Recruitment Market is expected to grow from US$ 29292.3 million in 2021 to US$ 47315.0 million by 2028; it is estimated to grow at a CAGR of 7.1% from 2021 to 2028. This report presents an in-depth assessment of the Online Recruitment Market including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies.

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Several businesses use artificial intelligence in the HR, some way or another. AI is expected to be used in the recruiting process by businesses. AI for hiring refers to the use of artificial intelligence to solve problems in the same way that a machine does. The use of technology is assisting in the streamlining of high-volume activities in the recruitment process. Online application management is one of the ways AI is assisting businesses with the recruiting process. Applicant monitoring from recruiter databases involves many keywords and other data points that AI can easily filter and analyze. To speed up the hiring process, AI assists recruiters in sorting through thousands of resumes.

The online recruitment market is segmented based on job type, application, and geography. Based on job type, the market is segmented into permanent and part-time. In 2021, permanent segment accounted for the largest market share. In terms of application, the market is bifurcated into Finance, Sales and Marketing, Engineering, IT and Others. In 2021, IT segment accounted for a larger share in the market. Geographically, the global online recruitment market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, the North America segment accounted for the significant share in the global market.

An international Online Recruitment business report explains market definition, classifications, applications, and engagements in the market. The industry report makes available an in-depth description, competitive scenario, wide product portfolio of key vendors and business strategy adopted by competitors along with their SWOT analysis and porter's five force analysis. This wide-ranging report is the best overview about global industry perspective, comprehensive analysis, size, share, growth, segment, trends and forecast. 

Some of The Key Players Covered in the Online Recruitment Market are

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

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Impact of COVID-19 Pandemic on Online Recruitment Market

Various challenges are faced by industries in the US due to the outbreak of COVID-19. Thus, any impact on industries will directly affect the economic development of North America. The US is the world's worst-affected country by the COVID-19 outbreak. The consequent economic downturn has led to the rise in number of jobless candidates by more than 14 million in the country, which reached 20.5 million in May 2020 from 6.2 million in February 2020. As a result, in 2020, the rate of unemployment increased from 3.8% in February to 13.0% in May in the US; the rise in unemployment rate continued in April as well with 14.4%. This also led to a standstill in recruitment process across the region thereby impacting the online recruitment market. However, post Q3 2020, the number of COVID-19 cases in the US started declining, thus triggering gradual normalization of economic activities in the country. This resulted in rise in demand of products and services across the region. Moreover, with the improved vaccine distribution and administration drives, the US witnessed a more than expected increase in job openings in February 2021. According to data released by the Job Openings and Labor Turnover Survey (JOLTS), in 2021, the number of job openings rose to 7.4 million in March 2021 from 7.1 million in February 2021. Nonetheless, the labor market has a long way to go before resuming its late-2019 status. The US hiring rate increased to 4% in February 2021 from 3.8% in February 2020. To hire people easily and rapidly while maintaining social distancing, the demand for online recruitment rapidly increased across the region.

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The Report Segments the Global Online Recruitment Market as Follows:

By Job Type

Permanent
Part-Time
By Application

Finance
Sales and Marketing
Engineering
IT
Others

The Online Recruitment market report provides answers to the following key questions:

What will be the Online Recruitment market size and the growth rate in the coming year?
What are the main key factors driving the global Online Recruitment market?
What are the key market trends impacting the growth of the global Online Recruitment market?
Which are Trending factors influencing the market shares of the top regions across the globe?
Who are the key market players and what are their strategies in the global Online Recruitment market?
What are the market opportunities and threats faced by the vendors in the global Online Recruitment market?
What industrial trends, drivers and challenges are manipulating its growth?
What are the key outcomes of the five forces analysis of the global Online Recruitment market?
What is the impact of Covid19 on the current industry?

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Online Recruitment Market Size, Share, Growth, Trends, Forecast to 2028 - COVID-19 Impact and Global Analysis By Forecast 2028