Diversity Recruiting Software Market Global Growth, Opportunities, Industry Analysis & Forecast To 2026

The global diversity recruiting software market was valued at USD 2 billion in 2019 and is estimated to reach USD 3 billion by 2026, expanding at a CAGR of 7% during the forecast period, 2020 – 2026. The growth of the market is attributed to increasing need for analytics metrics and the growth of machine learning and artificial intelligence.

Recruitment software is also known as applicant tracking system, which allows the organizations to regulate their recruitment electronically. Adoption of recruitment software helps the organization in ranking, storing, and filtering the data of the applicants rapidly.  Recruitment software tracks and maintains data, which is confidential in nature such as financial accounts, address, and social security number. Along with the development in technology, new methods and features are introduced in recruitment software, this methods and features allow integration of LinkedIn and Facebook, candidate relationship management, candidate searching and management of advertisement. These innovations is expected to boost the market growth during the forecast period.

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Market Trends, Drivers, Restraints, and Opportunities:

• The increase in mergers and acquisitions is expected to be one of the major drivers in the global recruitment software market, and is currently the topmost priority of recruitment software market players to increase customer base and expand their market reach.
• Intense competition in the market is projected to drive established key market players to adopt new technologies to increase their market presence. Key players that offer recruitment software are investing widely in acquisitions, strategic partnerships, and joint ventures to expand their presence in new regions and lead the global recruitment software market.
• Limited technical expertise and skilled professionals in terms of using advanced applicant tracking system is expected to restrict growth of the global recruitment software market during the forecast period.
• The major factors that restraint the market growth are lack of awareness about applicant tracking system and lack of information about its benefits is expected to hinder the market growth during the forecast period.
• Huge amount of resources and human efforts are required for the recruiting process. Recruiters have to perform task such as landing pages, creating job lists, and sourcing for candidates. In order to, simplify this process recruiters opt for tools to rewrite job adverts, this tools are costly. The expensive recruitment software is expected to hinder the market growth during the forecast period.
• The growing focus of numerous companies to improve candidate experience and increasing need to automate the process of recruitment are expected boost the global recruitment software market growth and create opportunities for the key market players. Additionally, the rising popularity of mobile recruitment is expected to create opportunities for the market during the forecast period.
• Increase in use of artificial intelligence and advance technology in organizations is of the trends, which is expected to expand the market during the forecast period.

Competitive Landscape

Major players in the market include Zoho Corp., Taleo Corporation, SumTotal Systems Inc., SuccessFactors , SAP SE, Saba Software Inc., PeopleAdmin, Oracle, Microsoft,  Kenexa Corporation, International Business Machines Corp., Hireku Inc., Halogen Software Inc., Cognizant Technology Solutions, Ceridian HCM Inc., and Accenture Plc.

Major market players are engage in strategies such as on merger and acquisitions to develop the software solutions for recruitment services. Presently, companies are aiming to cross sell their newly added features in their software. The key players are also focusing on strategic collaborations and joint ventures to expand their businesses worldwide.

Segments Covered in the Report

The global diversity recruiting software market has been segmented on the basis of

By Types:

• Cloud
• On Premises

By Applications:

• Small size enterprise
• Large size enterprise

By Regions:

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

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The following is the TOC of the report:                         

1. Executive Summary

2. Assumptions and Acronyms Used

3. Research Methodology

4. Diversity Recruiting Software Market Overview

4.1. Introduction

4.1.1. Market Taxonomy

4.1.2. Market Definition

4.2. Macro-Economic Factors

4.2.1. Industry Outlook

4.3. Diversity Recruiting Software Market Dynamics

4.3.1. Market Drivers

4.3.2. Market Restraints

4.3.3. Opportunity

4.3.4. Market Trends

4.4. Diversity Recruiting Software Market – Supply Chain

4.5. Global Diversity Recruiting Software Market Forecast

4.5.1. Diversity Recruiting Software Market Size (US$ Mn) and Y-o-Y Growth

4.5.2. Diversity Recruiting Software Market Size (000? Units) and Y-o-Y Growth

4.5.3. Diversity Recruiting Software Market Absolute $ Opportunity

5. Global Diversity Recruiting Software Market Analysis and Forecast by Type

5.1. Market Trends

5.2. Introduction

5.2.1. Basis Point Share (BPS) Analysis by Type

5.2.2. Y-o-Y Growth Projections by Type

5.3. Diversity Recruiting Software Market Size and Volume Forecast by Type

5.3.1. Cloud Based

5.3.2. Web Based

5.4. Absolute $ Opportunity Assessment by Type

5.5. Market Attractiveness/Growth Potential Analysis by Type

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