NEW
YORK, Aug. 23, 2024 /PRNewswire/ -- The online
recruitment market size in US is estimated to grow by USD 4.21 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
7.44% during the forecast period. Innovations in
hiring process is driving market growth, with a trend
towards increase in use of ai-powered searches.
However, decline in profitability due to high level of
competition poses a challenge. Key market players include
Adecco Group AG, Barbachano International, Betterteam Pty Ltd.,
CareerBuilder LLC, College Recruiter Inc., CornerStone Search Group
LLC, DHI Group Inc., JobHat.com, Jobing.com LLC, Ladders Inc.,
Microsoft Corp., NationJob Inc., Nippon Telegraph And Telephone
Corp., Ragns Inc., Randstad NV, Recruit Holdings Co. Ltd., Self
Management Group, Snagajob.com Inc., The Select Group LLC, and
ZipRecruiter Inc..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Application
(Hospitality, Manufacturing, Healthcare, BFSI, and Others),
End-user (Employers and Non-employers), and Geography (North
America)
|
Region
Covered
|
US
|
Key companies
profiled
|
Adecco Group AG,
Barbachano International, Betterteam Pty Ltd., CareerBuilder LLC,
College Recruiter Inc., CornerStone Search Group LLC, DHI Group
Inc., JobHat.com, Jobing.com LLC, Ladders Inc., Microsoft Corp.,
NationJob Inc., Nippon Telegraph And Telephone Corp., Ragns Inc.,
Randstad NV, Recruit Holdings Co. Ltd., Self Management Group,
Snagajob.com Inc., The Select Group LLC, and ZipRecruiter
Inc.
|
Key Market Trends Fueling Growth
Online recruitment in the US is undergoing a transformation
through the adoption of artificial intelligence (AI) technology.
Recruiters can now use AI-powered search engines to find candidates
matching specific job designations. These engines send automated
notifications to potential applicants and chatbots facilitate the
initial contact. Chatbots categorize candidates based on
qualifications and job requirements, while AI analyzes facial
expressions and cognitive intelligence through tools like HireVue.
This technology helps recruiters determine cultural fit, automate
workflows, and make impartial, cost-effective hiring decisions. The
use of AI in recruitment is expected to increase, with companies
like The Carlyle Group partnering with HireVue to innovate. AI
enhances recruiters' roles by making them more proactive, improving
hiring decisions with data, and streamlining the hiring process.
This trend will fuel the growth of the online recruitment market in
the US.
The online recruitment market in the US is thriving, with
e-recruitment, digital recruitment, and web-based resources
becoming the norm. Job boards, social media sites, and specialized
recruitment software are popular tools for posting vacancies and
connecting with candidates. Hiring processes are increasingly
digital, utilizing AI and machine learning for automated candidate
screening and data-driven recruitment decisions. IT segment jobs,
including soft and hard skills, dominate online job postings.
Candidates use job search engines and recruitment websites for
advanced search options and resume builders. AI-powered recruitment
tools streamline the recruitment process, providing candidate-job
matches and career guidance. Remote hiring, diversity hiring, and
full-time or part-time positions are common. Security issues and
chatbots are part of the recruitment procedures. Big data analytics
provide valuable insights for talent acquisition across industries,
from finance and sales to engineering, IT, hotel and catering, and
more.
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Market Challenges
- The online recruitment market in the US is experiencing
increased competition as new players enter the scene. Hundreds of
tools are available for recruiters to fill job vacancies, with
vendors such as LinkedIn, Monster, CareerBuilder, and College
Recruiter facing intense competition. Small vendors are entering
the market, impacting pricing strategies of larger vendors. While
some tools, like Monster, offer job postings, others like LinkedIn
and Glassdoor provide company information and employee reviews.
Recruiters must find the right tool for their specific job
requirements, as each job and recruitment process varies. The
high-level competition in the market may reduce the profitability
of vendors, potentially hindering the growth of the online
recruitment market during the forecast period. It's essential for
recruiters to evaluate the unique features of each tool and choose
the one that best fits their needs.
- The online recruitment market in the US is growing rapidly,
with industries such as Part-time, Finance, Sales, Engineering, IT,
Hotel and Catering, among others, increasingly turning to digital
platforms for hiring. Challenges include automating candidate
screening for Finance and Sales positions, remote hiring for IT and
Engineering roles, and implementing diversity hiring practices.
Data-driven recruitment decisions are key, utilizing big data
analytics and ML. Security issues, chatbots, and resume management
are also important considerations. The Fourth Industrial Revolution
brings cloud-based technologies, social networking, and
mobile-based recruitment solutions. Smartphone demand and internet
recruitment are driving trends, with human resource management
adapting to mobile recruiting, video interviews, and language
barrier solutions. Skilled recruiters are essential for navigating
these complexities.
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challenges - Download a Sample Report
Segment Overview
This online recruitment market in US report extensively covers
market segmentation by
- Application
- 1.1 Hospitality
- 1.2 Manufacturing
- 1.3 Healthcare
- 1.4 BFSI
- 1.5 Others
- End-user
- 2.1 Employers
- 2.2 Non-employers
- Geography
1.1 Hospitality- The online recruitment market
in the US is thriving, with an increasing number of companies
adopting digital platforms for hiring. Websites like LinkedIn,
Indeed, and Glassdoor offer employers access to a large pool of job
seekers, allowing for efficient and cost-effective recruitment.
Applicant Tracking Systems enable streamlined processing of resumes
and interviews, reducing time-to-hire. Online assessments and video
interviews further enhance the hiring process, providing a
convenient and accessible solution for both employers and
candidates.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Research Analysis
The online recruitment market in the US is experiencing
significant growth as businesses increasingly adopt digital tools
to streamline their hiring processes. E-recruitment, also known as
digital or web-based recruitment, utilizes job boards, social media
sites, and specialized software to connect vacancies with
candidates. These web-based resources offer convenience and
efficiency, enabling employers to reach a larger pool of applicants
and candidates to apply for jobs from anywhere. Digital tools such
as AI and machine learning are revolutionizing the recruitment
industry, providing candidate-job matches, resume management, and
employee screening. The Fourth Industrial Revolution, driven by
cloud-based technologies and social networking, is further
transforming online recruitment. Mobile-based recruitment solutions
cater to the growing demand for smartphone usage, allowing
candidates to apply and interview via mobile devices. Online
recruitment encompasses part-time and permanent jobs, with ML and
video interviews becoming increasingly popular for initial
screening. Human resource management benefits from these digital
innovations, allowing for more data-driven decisions and efficient
processes. Overall, the online recruitment market continues to
evolve, offering numerous advantages for both employers and job
seekers.
Market Research Overview
The online recruitment market in the US is experiencing
significant growth as businesses increasingly turn to digital tools
to find and hire candidates. E-recruitment, also known as digital
or web-based recruitment, utilizes job boards, social media sites,
and specialized software to streamline the hiring process.
Candidates can search for vacancies using advanced search options
on job search engines and career guidance sites, while employers
can post job listings for full-time, part-time, and temporary
positions in various industries such as IT, finance, sales,
engineering, and hospitality. Digital recruitment tools include AI
and machine learning algorithms for automated candidate screening,
chatbots for initial interviews, and data-driven recruitment
decisions based on big data analytics. The use of cloud-based
technologies, mobile-based recruitment solutions, and social
networking sites has become essential in the fourth industrial
revolution. Remote hiring, diversity hiring, and security issues
are also key considerations in the online recruitment landscape.
Candidates can build resumes using resume builders and apply for
jobs through various digital channels. Recruitment procedures
include employee screening, assessment tools, and video interviews
to ensure a good candidate-job match. The language barrier can be
overcome through translation services and multilingual job
postings. Overall, online recruitment offers numerous benefits,
including cost savings, increased efficiency, and a larger talent
pool.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Hospitality
- Manufacturing
- Healthcare
- BFSI
- Others
- End-user
-
- Geography
-
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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