AI Recruitment Market anticipated to reach USD 942.3 Million by 2030, Trends, Value, Growth, and Forecast by 2023 – 2030

Market Research Future Highlights

The AI market share in the recruitment industry is expected to increase to USD 942.3 million from 2023 to 2030 at an accelerating CAGR of 6.9%.

The AI recruitment market refers to the use of artificial intelligence (AI) technologies and tools to improve and streamline the recruitment process. This includes using AI for tasks such as candidate sourcing, resume screening, interviewing, and candidate matching. The market for AI recruitment solutions is expected to grow in the coming years as more companies seek to leverage these technologies to improve their hiring processes and reduce time-to-hire.

Key Players

The AI recruitment market has a large number of players, including established tech companies, startups, and specialized recruitment service providers. Some of the key players in the market include:

IBM Corporation, SAP SE, Oracle Corporation, Workday, Inc., Talentsoft SA, Ultimate Software Group, Inc., Ascendify Corporation, Cornerstone OnDemand, Inc., Jobvite, Inc., iCIMS, Inc.

These companies offer a range of AI-based recruitment solutions, including candidate sourcing and screening, interview scheduling and analysis, and candidate matching, among others. The market is highly competitive, with new players entering the space and existing players expanding their offerings to cater to the growing demand for AI-based recruitment solutions.

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Regional Analysis

The AI recruitment market has a global reach, with companies from various regions adopting AI solutions for their recruitment needs. However, the market is most developed in North America and Europe, which have the largest number of AI solution providers and a high level of adoption by companies.

In North America, the US is the largest market for AI recruitment solutions, driven by the high demand for these technologies from companies in the region. In Europe, the UK, Germany, and France are the major markets for AI recruitment solutions, with a growing number of startups and established companies offering these solutions.

Asia-Pacific is also an emerging market for AI recruitment solutions, with increasing adoption by companies in countries such as China, India, and Japan. Other regions, such as Latin America and the Middle East, are also expected to see growth in the AI recruitment market as more companies in these regions adopt these technologies.

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Ai Recruitment Market Segmentation

The AI recruitment market can be segmented based on various factors, including:

Deployment mode: Cloud-based and on-premise are the two major deployment modes for AI recruitment solutions.

Application: AI recruitment solutions can be used for various recruitment tasks, including candidate sourcing, resume screening, interviewing, and candidate matching.

End-user: The market can be segmented based on the type of organizations using these solutions, such as small and medium-sized enterprises (SMEs) and large enterprises.

Region: The market can also be segmented based on the region, as the demand and adoption of AI recruitment solutions vary across different regions.

Component: The market can be segmented based on the components used in AI recruitment solutions, such as software tools, services, and platforms.

Industry: The market can also be segmented based on the industry, such as healthcare, IT and telecom, BFSI, and others, as different industries may have unique recruitment needs that can be addressed by AI solutions.

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Latest Industry News in 2023:

• Google Launches AI-Powered Recruitment Tool

Google has launched an AI-powered recruitment tool called Hire, which is designed to help businesses find the best candidates for their open positions. Hire uses machine learning to analyze resumes and identify candidates who are a good fit for the job. The tool also provides insights into candidates’ skills and experience, and can help businesses to create personalized interview questions.

• Microsoft Launches AI-Powered Virtual Assistant for Recruiters

Microsoft has launched an AI-powered virtual assistant called Ada, which is designed to help recruiters with their daily tasks. Ada can answer questions about the recruitment process, schedule interviews, and even send out rejection letters. The virtual assistant is available 24/7 and can help recruiters to save time and improve their efficiency.

• IBM Launches AI-Powered Talent Acquisition Platform

IBM has launched an AI-powered talent acquisition platform called Talent Discovery, which is designed to help businesses find and hire the best talent. Talent Discovery uses machine learning to analyze resumes, identify candidates who are a good fit for the job, and recommend candidates to hiring managers. The platform also provides insights into candidates’ skills and experience, and can help businesses to create personalized interview questions.

• SAP Launches AI-Powered Recruiting Solution

SAP has launched an AI-powered recruiting solution called SAP SuccessFactors Recruiting, which is designed to help businesses find and hire the best talent. SAP SuccessFactors Recruiting uses machine learning to automate tasks such as screening resumes, scheduling interviews, and sending out rejection letters. The solution also provides insights into candidates’ skills and experience, and can help businesses to create personalized interview questions.

These are just a few of the latest industry news in 2023 for AI Recruitment Market. As AI technology continues to evolve, we can expect to see even more innovative AI-powered solutions being developed to help businesses with their recruitment needs.

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