The online recruitment market was valued at US$ 29292.3 million in 2021 and it is projected to reach US$ 47315.0 million by 2028; it is expected to grow at a CAGR of 7.1% from 2021 to 2028.
Digitalization of all business processes including recruitment is attributed to the demand for the market. Digital transformation is changing how businesses work (internal) or communicate with their customers (external). However, in most situations, digital transformation entails purchasing software and data technologies such as recruiting solutions and online recruitment channels, to reduce or remove administrative activities and improve operational performance within and across departments and hiring teams. There are various benefits of digitalization or shifting to the online mode of recruitment such as:
Better productivity and time efficiency: In a variety of ways, online recruiting aids in the speeding up of everyday hiring procedures. Companies can automate administrative tasks such as keeping track of applicant paperwork or arranging interviews. Online recruiters use applicant tracking system (ATS) solutions to screen candidates quickly since the ATS stores all of the requisite candidate data in one location. They will not have to read a resume before moving on to the candidate's cover letter, portfolio, or appraisal because it will be on the same page. Recruiters are not the only ones that profit from online recruitment systems. Candidates can also apply quickly since the processes include auto-filling application forms and one-click apply buttons. Other factors promoting the digitalization are improved candidate analysis and access to vast number of applicants, among others. The above-mentioned factors are promoting the digitalization in recruitment process among companies across the globe, thereby fueling the growth of the online recruitment market
Impact of COVID-19 Pandemic on Online Recruitment Market
The outbreak of the COVID-19 pandemic has negatively impacted the offline recruitment drives across the globe. Covid-19 has had an impact on corporate operations across the world, including hiring. Because of the pandemic, it was vital for businesses to upgrade their recruitment processes quickly and creatively. Organizations have turned to remote operations to combat the pandemic's health hazards and are during overhauling how they employ fresh talent. Using the correct technology, several companies have transitioned from physical to virtual hiring. In the aftermath of the outbreak, HR managers are scrambling to adapt recruitment methods. Fortunately, technology exists to assist in reducing exposure while still obtaining high-quality personnel. Owing to these virtual and online recruitment plans are being highly adopted by organizations to protect both employees and candidates and eliminate the risk of the virus while carrying out hiring drives.
Lucrative Regions in Online Recruitment Market
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights–Online Recruitment Market
Emergence of Fully Remote Companies and Social Media Recruiting
Globalization has Flexible schedules and work from home plans are quickly becoming one of the most demanded perks by job seekers, and businesses are adjusting to meet their workers' needs. As a result, the globe is seeing a growing number of entirely remote businesses. Companies are increasing their online talent pool by encouraging employees to operate remotely because they can now access global talent without being constrained by regional boundaries. As a result, it is observed that more people are using apps and technologies like online recruitment solutions, virtual workplaces, augmented and virtual reality work environments, and advanced multi-media networking tools to control remote hiring and teams.
As recruiters reach for the extra mile, they have adopted social media for attracting potential candidates. With increased mobile usage and on-the-go interactions, recruiters are increasingly capturing users’ attention on platforms such as Facebook, Twitter, and LinkedIn. For instance, according to a survey, nearly three-quarters of staff aged 18 to 34 find their most recent jobs via social media. Furthermore, almost 90% of recruiters claim they have recruited someone through LinkedIn. Thus, the rising adoption of social media for recruitment by employers is expected to promote the growth of the online recruitment market.
Job Type-Based Insights
Based on job type, the online recruitment market is segmented into permanent and part-time. The permanent segment held the largest market share in 2020. A permanent job, also known as a full-time job, is an employment arrangement, in which a person works for an employer and is paid directly by them. Unlike a temporary or contract employee who is employed to do a job for a certain period, a permanent employee's employment does not have a fixed end date. Permanent is described as working 35 hours or more per week, according to the Bureau of Labor Statistics (BLS).
Application-Based Insights
Based on application, the online recruitment market is segmented into finance, sales and marketing, engineering, IT, and others. The IT segment held the highest share in 2020. Information technology refers to the transfer or other use of data by computers or computer systems. IT experts are responsible for a variety of activities. They test, develop, install, repair, or manage the hardware and software associated with complex computer systems in one or more locations.
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Online Recruitment Market: Strategic Insights
Market Size Value in US$ 29292.3 Million in 2021 Market Size Value by US$ 47315.0 Million by 2028 Growth rate CAGR of 7.1% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
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Online Recruitment Market: Strategic Insights
| Market Size Value in | US$ 29292.3 Million in 2021 |
| Market Size Value by | US$ 47315.0 Million by 2028 |
| Growth rate | CAGR of 7.1% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Players operating in the online recruitment market are mainly focused on the development of advanced and efficient products.
- In 2020, Tribepad Ltd., a recruitment software company, announced a partnership with WeLove9am, a marketing and advertising agency. The partnership aims to assist Signature Senior Lifestyle Care Homes in facilitating a smooth online recruitment process for their clients.
- In 2018, LinkedIn launched a new product to assist employers in managing candidate sourcing, interviewing, and hiring. LinkedIn is also experimenting with how it can assist businesses in improving their diversity by allowing recruiters to assess the gender proportions in a pool of candidates.
The online recruitment market has been segmented as follows:
Online Recruitment Market – by Job Type
- Permanent
- Part-Time
Online Recruitment Market – by Application
- Finance
- Sales and Marketing
- Engineering
- IT
- Others
Online Recruitment Market – by Geography
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
- Asia Pacific (APAC)
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
- Middle East and Africa (MEA)
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- South America (SAM)
- Brazil
- Argentina
- Rest of SAM
Online Recruitment Market – Company Profiles
- ABC Consultants
- Glassdoor, Inc.
- iPlaceUSA, Inc.
- itForte
- Info Edge (India) Ltd. (naukri.com)
- LinkedIn Corporation
- Multi Recrut
- SH Inc.
- StepStone GmbH
- TalenTECH Solutions Pvt Ltd (Hiring Plug).
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Job Type and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
In 2020, North America accounted for a substantial share in the global online recruitment market. The high internet penetration rate in North American countries, along with a high rate of digitization among businesses, is a primary driver for the region's online recruitment sector. In January 2020, the United States had 288.1 million internet users. The number of internet users in the United States increased by 1.8 million (+0.6%) between 2019 and 2020. The United States has an Internet penetration rate of 87 percent in January 2020. In addition, the country had 230.0 million social media users in January 2020. The number of social media users in the United States increased by 6.9 million (+3.1%) between April 2019 and January 2020. Social media penetration in the United States reached 70% in January 2020. The increased use of the internet and social media by the North American populace prompted the region's adoption of online recruitment to attract more candidates for specific job openings.
Digital transformation is changing how businesses work (internal) or communicate with their customers (external). However, in most situations, digital transformation entails purchasing software and data technologies such as recruiting solutions and online recruitment channels, to reduce or remove administrative activities and improve operational performance within and across departments and hiring teams. There are various benefits of digitalization or shifting to the online mode of recruitment such as:
The permanent job type segment led the online recruitment market in 2020. A permanent job, also known as a full-time job, is an employment arrangement in which a person works for an employer and is paid directly by them. Unlike a temporary or contract employee who is employed to do a job for a certain period, a permanent employee's employment does not have a fixed end date. Permanent is described as working 35 hours or more per week, according to the Bureau of Labor Statistics (BLS). The Affordable Care Act describes permanent workers as those who work an average of 30 hours a week for the purposes of determining employer required payments for larger employers.
The List of Companies - Online Recruitment Market
- ABC Consultants
- Glassdoor, Inc.
- iPlaceUSA, Inc.
- itForte
- Info Edge (India) Ltd. (naukri.com)
- LinkedIn Corporation
- Multi Recruit
- SH Inc.
- StepStone GmbH
- TalenTECH Solutions Pvt Ltd ( Hiring Plug )
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- Data Collection and Secondary Research:
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
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- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
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- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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