Market Analysis and Insights
At a compound annual growth rate (CAGR) of 6.98%, the size of the global online recruitment market, estimated at USD 29289.01 million in 2021, is expected to reach USD 58161.92 million by 2030 from USD 31372.05 million in 2022.
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"The Global Online Recruitment Market 2020-2030 (USD Million)")
Because of the increase in employment opportunities, there is a high need for online recruiting platforms to manage recruitment procedures such as resume management, employee screening, assessment tools, and others. A primary driver of the sector is the substantial outsourcing of traditional workplace employment practices to online recruitment platforms. The fourth industrial revolution and digital transformation have also provided new job opportunities and had a positive influence on the online recruiting industry. The key market drivers are the broad use of cloud-based technologies, the practical accessibility of high-bandwidth internet infrastructure, and the expansion of social networking. Additionally, it is anticipated that market expansion will be aided by the increasing use of mobile-based recruitment solutions, which is supported by a rise in smartphone demand.
Online Recruitment Market Scope:
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2030 |
| Study Period | 2018-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | USD 58161.92 million |
| Growth Rate | CAGR of 6.98% during 2020-2030 |
| Segment Covered | By Job Type , By Application ,Region |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Indeed, LinkedIn, Monster, CareerBuilder, Glassdoor, StepStone, Seek, Naukri, Recruit, 51job, Zhilian and others. |
Market Definition
Online recruitment, also known as Internet or digital recruitment, refers to the process of using online platforms and technologies to attract, source, screen, select, and hire individuals for job vacancies within organizations. It has become the predominant method for recruiting candidates in today's digital age and offers numerous advantages over traditional recruitment methods, such as newspaper ads and physical job fairs. Online recruitment has become an integral part of modern human resource management, allowing organizations to efficiently identify and hire top talent while providing job seekers with a convenient and accessible way to find employment opportunities.
The global online recruitment market refers to the segment of the human resources and employment industry that focuses on using digital platforms and technologies for various aspects of the recruitment process, including job posting, candidate sourcing, resume submission, application tracking, and candidate assessment. It encompasses a wide range of online services and tools that connect employers and job seekers in a digital environment.
The global online recruitment market has witnessed significant growth, driven by technological advancements, changing job search behaviours, and the need for efficient hiring processes. It has become a fundamental part of modern talent acquisition and human resource management strategies for organizations worldwide. The market includes a mix of established players, niche platforms, and emerging startups, all competing to offer innovative solutions for employers and job seekers.
Key Market Segmentation
Insights on Job Type
The permanent job type segment accounts for the highest share
The global online recruitment market is segmented by job type into part-time and permanent. The permanent job type segment is the dominant segment of the market, accounting for over 80% of the market share in 2023. This is because most people prefer to have permanent jobs, which offer more stability and security.
However, the part-time job type segment is growing rapidly. This is due to several factors, including the increasing popularity of the gig economy, the growing demand for flexible work arrangements, and the rising number of students and retirees who are looking for part-time work to supplement their income.
Insights on Application
IT Segment dominates the market
The global online recruitment market is segmented by application into finance, sales, marketing, engineering, hotel and catering, IT and others. The IT segment is the dominant segment of the market, accounting for over 25% of the market share in 2023. This is because the IT industry is one of the fastest-growing industries in the world, and there is a high demand for IT professionals.
However, all of the application segments are expected to grow in the coming years, driven by the increasing demand for online recruitment services from businesses of all sizes. The finance industry is increasingly using online recruitment services to find qualified candidates for a variety of roles, including accountants, financial analysts, and investment bankers. The marketing industry is also increasingly using online recruitment services to find qualified candidates for a variety of roles, including digital marketers, social media marketers, and content marketers.
The sales sector is one of the most aggressive in the world, and companies are continuously on the lookout for top sales expertise. Online recruitment services can help businesses find qualified sales candidates who can help them achieve their sales goals. Another area that is experiencing a dearth of competent people is engineering. Online recruitment services can help businesses find qualified engineers for a variety of roles, including civil engineers, mechanical engineers, and electrical engineers. The IT industry is the fastest-growing industry in the world, and there is a high demand for IT professionals. Online recruitment services can help businesses find qualified IT candidates for a variety of roles, including software developers, systems engineers, and network administrators. The hotel and catering industry is also using online recruitment services to find qualified candidates for a variety of roles, including chefs, waiters, and waitresses.
The worldwide online recruitment market is predicted to expand further in the future years, owing to rising demand for online recruiting services from organizations of all sizes. The growth of the market will also be driven by the increasing adoption of mobile recruitment and the increasing use of artificial intelligence (AI) and machine learning (ML) in online recruitment.
Online recruitment is a valuable tool for both employers and job seekers. Employers can use online recruitment services to find qualified candidates for a variety of roles, and job seekers can use online recruitment services to find the right job for their skills and experience.
Insights on Region
North America Region is the largest market in the world
The global online recruitment market is segmented by region into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
North America is the largest market for online recruitment, accounting for over 35% of the global market share in 2023. This is due to several factors, including the high adoption of online recruitment services by businesses in the region, the large number of job seekers in the region, and the strong economic growth in the region.
Europe is the second-largest market for online recruitment, accounting for over 25% of the global market share in 2023. The market in Europe is driven by several factors, including the high adoption of online recruitment services by businesses in the region, the large number of job seekers in the region, and the increasing globalization of the
European economy. With a CAGR of more than 10% throughout the projection period, Asia Pacific is the fastest-growing market for online recruiting. A variety of reasons are driving market expansion in Asia Pacific, including the region's strong economic growth, expanding urbanization, and rising disposable incomes.
Latin America, the Middle East, and Africa are smaller internet recruiting marketplaces, but they are expanding quickly. Several reasons are driving the expansion of the market in these areas, including the rising usage of online recruiting services by businesses in the regions, a rising pool of job seekers in the zones, and the growing internationalization of the economies in the regions.
Key Company Profiles
The competitive scenario within the global online recruitment market is depicted through a comprehensive analysis of rivals. This entails insights into the company profile, financial performance, revenue generation, market prospects, research and development investments, innovative endeavours, international footprint, manufacturing locations, production capabilities, corporate advantages and limitations, the introduction of new products, range and diversity of products, and predominant applications. These mentioned data metrics specifically pertain to the strategic orientations of companies concerning the global online recruitment market.
Some key players in the global online recruitment market are Indeed, LinkedIn, Monster, CareerBuilder, Glassdoor, StepStone, Seek, Naukri, Recruit, 51job, Zhilian and others.
COVID-19 Impact and Market Status
The COVID-19 pandemic had a mixed impact on the global online recruitment market. On the one hand, the pandemic led to disruptions in the supply chain, closures of businesses and schools, and a decline in demand for online recruitment services. On the other hand, the pandemic also led to increased demand for online recruitment services for remote work, education, and training.
Overall, the global online recruitment market grew by 4.12% in 2020, despite the pandemic. This growth was driven by strong demand for cloud-based online recruitment software and increased demand for online recruitment services from businesses and organizations that were using online recruitment to find and hire qualified employees.
The COVID-19 pandemic led to disruptions in the supply chain for an online recruitment software, as businesses were forced to close or operate at reduced capacity. This made it difficult for businesses and organizations to access online recruitment services and led to the closures of businesses and schools, which reduced the demand for online recruitment services. Many businesses and schools were not using online recruitment services during the pandemic, as they were focused on other priorities. The COVID-19 pandemic led to a decline in demand for online recruitment services from businesses and organizations. Many businesses and organizations were not hiring new employees during the pandemic, as they were focused on other priorities and The COVID-19 pandemic led to increased demand for online recruitment services for remote work. Many businesses and organizations began using online recruitment services to find and hire remote workers during the pandemic. The pandemic also led to increased demand for online recruitment services for education and training. Many educational institutions and training providers began using online recruitment services to find and hire instructors and trainers during the pandemic.
Latest Trends
The rise of AI and ML: AI and ML are being used in online recruitment to automate tasks such as resume screening, candidate matching, and interview scheduling. This improves the efficiency and effectiveness of online recruiting for both companies and job seekers.
Mobile Recruiting: Mobile recruiting is becoming increasingly popular, with many job searchers utilizing their mobile device to search for and apply for positions. Online recruiting firms are creating mobile apps and websites that are mobile-friendly.
The growing popularity of video interviews: Because they allow businesses to interview candidates remotely, video interviews are becoming increasingly popular. This is especially advantageous for businesses that hire remote staff or applicants from different countries.
Recent Developments in the Global Online Recruitment Market: A Snapshot
Indeed acquires Glassdoor: In 2023, Indeed acquired Glassdoor, another major online recruitment company. This acquisition is a sign of Indeed's commitment to expanding its market share and offering a wider range of services to employers and job seekers.
LinkedIn launches new features for recruiters: LinkedIn, another major online recruitment company, has launched several new features for recruiters in recent years. These new features include LinkedIn Recruiter Flow, which helps recruiters automate their recruitment process, and LinkedIn Talent Insights, which provides recruiters with data and insights about the job market.
Significant Growth Factors
Increasing adoption of online recruitment services by businesses of all sizes: Businesses of all sizes are increasingly using online recruitment services to find and hire qualified candidates as they are convenient, cost-efficient, and offer a vast range of amenities.
Growing demand for remote work: The growing demand for remote work is driving the growth of the online recruitment market. This is because online recruitment services make it easy for employers to find and hire remote workers from anywhere in the world.
Rising adoption of cloud-based online recruitment software: Cloud-based online recruitment software is becoming increasingly popular, as it is scalable, affordable, and accessible from anywhere with an internet connection.
Increasing use of AI and ML in online recruitment: AI and ML are being used in online recruitment to automate tasks such as resume screening, candidate matching, and interview scheduling.
Growing demand for online education and training: The growing demand for online education and training is driving the growth of the online recruitment market. This is because educational institutions and training providers are using online recruitment services to find and hire instructors and trainers.
The increasing globalization of the economy: The increasing globalization of the economy is making it easier for employers to find and hire candidates from other countries. Online recruitment services are making it easier for employers to post job openings in multiple countries and to reach candidates from all over the world.
The growing diversity of the workforce: The growing diversity of the workforce is driving the growth of the online recruitment market. This is because employers are increasingly using online recruitment services to find and hire candidates from a variety of backgrounds.
Restraining Factors
Security and privacy concerns: Some job seekers and employers may have concerns about the security and privacy of their data when using online recruitment services. This is especially true for cloud-based online recruitment software.
Quality of candidates: The quality of candidates applying for jobs online can vary widely. Employers must thoroughly screen candidates to guarantee that they are hiring the proper personnel.
Time commitment: Online recruitment poses to be a time-consuming procedure. Employers need to spend time posting job openings, reviewing applications, and interviewing candidates.
Language barrier: It can be difficult for employers to find qualified candidates from other countries due to the language barrier.
Lack of skilled recruiters: There is a shortage of skilled recruiters in the market. This is making it difficult for businesses and organizations to find qualified recruiters to manage their online recruitment process.
Rapidly evolving technology: The technology of online recruitment is rapidly evolving. This might make it challenging for online recruiting firms to stay current on trends and technology.
Fraud and scams: There are several frauds and scams associated with online recruitment. Job seekers need to be careful to avoid these frauds and scams.
Key Segment of Global Online Recruitment Market
By Job Type Overview
• Part-Time
• Permanent
By Application Overview
• Finance
• Marketing
• Sales
• Engineering
• IT
• Hotel and Catering
• Others
By Region Overview
North America
• USA
• Canada
Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
South America
• Mexico
• Brazil
• Rest of North America
Europe
• Germany
• France
• UK
• Rest of Europe
Middle East and Africa
Frequently Asked Questions (FAQ) :
The market value of online recruitment market in 2030 was USD 58161.92 million
The online recruitment market is growing at a CAGR of 6.98% over the forecast period.
The application of the online recruitment market Finance, Marketing, Sales, Engineering, IT, Hotel and Catering, and Others
North America dominated the market for online recruitment market and accounted for the largest revenue share.
The top companies that hold the market share in online recruitment market areIndeed, LinkedIn, Monster, CareerBuilder, Glassdoor, StepStone, Seek, Naukri, Recruit, 51job, Zhilian and others.