Diversity Recruiting Software Market to Grow at a CAGR of 9.4% to reach US$ 709.5 Million from 2020 to 2027

The Diversity Recruiting Software market was valued at US$ 357.1 million in 2019 and is expected to grow at a CAGR of 9.4% during the forecast period of 2020 to 2027 to reach US$ 709.5 million by 2027.

Mobile Recruitment offers two significant benefits. First, it enables the recruiters and hiring teams to manage the recruitment process from anywhere they can use a mobile device. It is possible to schedule interviews, provide internal feedback, and communicate with the candidates remotely. Secondly, it enables the hiring team to reach candidates remotely and via mobile devices, on which candidates are highly dependent. Mobile recruiting is thriving, with job searches on mobile devices now exceeding 1 billion a month. Nearly 90% of job seekers now use a mobile device to search for a new opportunity. It is a growing and dynamic industry supported by increase in smartphone usage. Recruiters are striving to scale up their websites and mobile apps to provide users with a seamless experience. Few of these activities include tailoring the mobile experience to meet the expectations of candidates, communicating with candidates at each stage of the interview process via texts, migrating communication to mobile apps between hiring managers and candidates, and simplifying the application process. For example, Greenhouse Software, Inc., one of the leading market players, offers Greenhouse Recruiting mobile app with flexible log-in options, such as password, SSO, or Google sign-in, and access to candidate's profiles, such as activity feed, resume, attachments, and submitted scorecards.

Impact of COVID-19 Pandemic on Diversity Recruiting Software Market

During the COVID-19 pandemic, businesses and organizations, faced with unprecedented challenges, are looking for different ways to stay productive. Managing staff procedures, increasing or decreasing headcount, and maintaining workloads has become a remote process for many businesses as they look to protect their employees, their customers, and the public. Centers for Disease Control and Prevention (CDC) has recommended social distancing measures for organizations, which has made remote working a new norm. Employees work from home and manage personal obligations. Businesses are facing difficult decisions about how this seismic shift can be adapted and survived, and hiring practices have changed overnight. All of these factors are expected to impede market growth in 2020 and mid-2021.

Lucrative Regions for Diversity Recruiting Software Market

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Market Insights

Artificial Intelligence (AI) to Provide Growth Opportunities to Diversity Recruiting Software

AI is the future of the Diversity Recruiting Software. It can make the diversity recruitment process quicker and simpler. AI is expected to transform recruitment in the next couple of years. With AI, recruiters would be able to use more free time for other essential tasks. AI would ensure that the company gets the perfect match for the position by examining the candidate's resume and online presence to see if it is an ideal fit. Moreover, with AI, businesses would be able to find the best talent, conduct opening interviews, and examine candidate resumes, thus ensuring a faster selection procedure. With the AI assistance, recruiters and staffing agencies can reach out to more qualified candidates. Moreover, they would be able to target their searches by factors, such as job position, education, location, and salary.

Deployment Market Insights

The cloud Diversity Recruiting Software is witnessing high demand compared to on-premises Diversity Recruiting Software. The increasing demand for cloud segment is attributed to the low cost and a robust network infrastructure in developed countries. The cloud Diversity Recruiting Software vendors are also focused on creating a high-level security patch to mitigate the cyber-attack risk.

Diversity Recruiting Software Market, by Offering– 2019 and 2027

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Enterprise Size Market Insight

At present, various companies are opting for Diversity Recruiting Software due to the increased need for a flexible and modular architecture that can be tailored to any organization's hiring needs from small to large business. The growth of the enterprise is primarily driven by a sizeable increase in the number of employment placement agencies, which drive the majority of their turnover from permanent recruitment activities. Based on the enterprise size, Diversity Recruiting Software market is segmented into small and medium enterprises and large enterprises.

Strategic Insights

The players operating in the enterprise content management market focus on strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

• In July 2020, Entelo announced the completion of Workday Certified Integration. The integration would allow joint customers to search Entelo’s database of passive candidate profiles and select individual or groups of profiles to export into Workday Recruiting.

• In December 2019, GR8 People announced launch of real-time intelligent personalization to help, inform, and engage candidates with a combination of AI-driven features that result in a more candidate-centric career website experience.

Global Diversity Recruiting Software Segments:

Diversity Recruiting Software Market – By Deployment

• Cloud
• On-Premise

Diversity Recruiting Software Market – By Enterprise Size

• SMEs
• Large Enterprise

Diversity Recruiting Software Market – By Geography

• North America

  • U.S.
  • Canada
  • Mexico

• Europe

  • France
  • Germany
  • Italy
  • Spain
  • UK
  • Rest of Europe

• Asia Pacific (APAC)

  • Australia
  • China
  • India
  • Japan
  • Rest of APAC

• Middle East & Africa (MEA)

  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA

• South America (SAM)

  • Brazil
  • Rest of SAM

Companies

• Be Applied Ltd.
• Entelo, Inc.
• GR8 People, Inc.
• Greenhouse Software, Inc.
• Hiretual
• HiringSolved
• Plum, Inc.
• Pymetrics, Inc.
• SeekOut
• Eightfold AI, Inc.