The report forecasts the global recruitment software market to grow at a CAGR of 6.27% during the period 2016-2020.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One of latest trends in the market is proliferation of mobile devices in hiring process. The increasing use of mobile devices such as smartphones, and tablets is encouraging candidates to use them to access job-related information. Candidates are using mobile devices to apply for jobs, while, recruiters are using it to post job notifications. Mobile devices allow candidates to connect with recruiters anytime and anywhere. More and more vendors in the market are investing in mobile technology to make the recruitment process convenient, for candidates as well as hiring managers. For, e.g., Monster .com launched Monster Jobs, a mobile app that is available on Android and iPhone app stores.
According to the report, one of the primary drivers in the market is high demand for automated recruitment processes. The demand for automated recruitment processes is one of the major drivers of the market. The recruitment of new talent requires a large investment in terms of time and money for any company. Recruitment software streamlines the entire hiring process by automating the various activities of recruitment. It reduces the overall cost and time needed for the hiring process. Automating the hiring process also increases the chances of recruiting the right candidate for the right post. So, many enterprises are adopting automated and streamlined recruitment processes like recruitment software.
Further, the report states that one major challenge in the market is threat from open-source recruitment software.