Recruitment Market: Global Industry to Attain Huge Value of US$ 334.28 Bn by 2025 - QY Research
Aug 28, 2018, 09:30 ET
LOS ANGELES, BEIJING, LONDON and PUNE, India, August 28, 2018 /PRNewswire/ --
QY Research has recently come up with a new report titled, "Global Recruitment Industrial Chain Market: Insights, Growth Trends and Competitive Analysis 2025," for the estimated period of 8-years, i.e. during 2017-2025. This market has been witnessing stable growth and development since last few years. The global market for recruitment is likely to exhibit the revenue growth by 1.5x between the period of 2017 and 2025.
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The global recruitment market was valued at US$ 215.68 Bn in the year 2017 and is predicted to reach more than US$ 334.28 Bn by the end of the forecasted period, expanding at a moderate CAGR of 5.63% throughout the forecasted period.
For the better understanding of the global recruitment market, it is necessary to know what exactly recruitment is? Recruitment process basically means the process of searching new employees for respective organizations. This process is generally carried out by the Human Resource department; however, companies often take help of recruiting agencies to spot and hire qualified candidates suitable for the various designations. The duty of external recruiters is to post new job openings, screening of candidates and select and appoint the staff in various organizations. Recruitment includes both permanent and temporary staffing.
Global Recruitment Market: Trends
With the development of technology, the process of recruitment is also changing rapidly in the past few years. Online recruitment is gaining utmost importance as this process include innovative capabilities such as artificial intelligence, increasing use of social media, big data and mobile technology. To streamline the overall recruiting process artificial intelligence is used which also helps in identifying the suitable candidate with the use of various algorithms and cutting-edge search technology.
One of the most powerful tools for acquiring information about a potential candidate is social media. According to a report of the global recruitment market, a maximum number of recruiters use various social media sites to assess the candidates. Ever progressing mobile technology is another trend which is dominating the global recruitment market. Now-a-day candidates use mobile devices to browse various job opportunities and get email alerts for job postings on various job portals.
The global market for recruitment is segmented into recruitment software, recruitment, and online recruitment.
Global Recruitment Market: Recruitment Software
On the basis of the recruitment software, the global recruitment market is segmented into by type and by application. By type segment is further segmented into a job board, applicant tracking and others. On the other hand, application segments consist of large, medium and small business. In the application segment, medium business segment is dominating the entire market with the revenue share of 62.31 %.
Global Recruitment Market: Recruitment
Recruitment segment includes direct and 3rd party- HR Company and directs based on by type segment. By application, the market is segmented into sales/marketing, secretarial/clerical, hotel/catering, Accounting/financial, Nursing/Medical/Care, Technical/Engineering and others. These various applications play an important part in the recruitment process and thus the Technical/Engineering segment is dominating the global recruitment market by capturing the largest market share.
Global Recruitment Market: Online Recruitment
Based on online recruitment segment, the worldwide market for recruitment is segmented into by type and by application segments. By application, segment consists of sales/marketing, secretarial/clerical, hotel/catering. Accounting/financial, Nursing/Medical/Care, Technical/Engineering and others. By type, the segment is classified as part-time online recruitment and permanent online recruitment. Among these two segments, permanent online recruitment segment leads the market with 85.31% revenue share in the market.
Global Recruitment Market: Regional Analysis
A comprehensive overview of global recruitment market is provided with detailed analysis and coverage of all significant regional markets such as Latin America, Europe which consists of Eastern Europe and Western Europe, Asia-Pacific, Middle East and Africa and North America. Employment/unemployment rates, market size, and segmentation are discussed in the report while assessing various regions.
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Global Recruitment Market: Leading Players in the Market by Recruitment, Online and Software Recruitment
Some of the leading players operating in the global recruitment market are ClearCompany, Adecco, Workable, Randstad, Jobvite, Manpower Group, Hyrell, Recruit, JobDiva, Allegis Group, Oracle, ADP, ICIMS, CIIC, Zhilian, LinkedIn, SEEK, CareerBuilder, Indeed and Monster.
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