Global Recruitment Software Market 2019-2023
About this market
The rise in mergers and acquisition is identified as one of the key trends that will gain traction in the recruitment software market for the next four years. The rising demand for recruitment software is encouraging vendors to undertake mergers and acquisitions to expand their market reach and increase the customer base. Technavio’s analysts have predicted that the recruitment software market will register a CAGR of over 6% by 2023.Market Overview
Enhanced communication capabilities and productivity of recruiters
This software enables automation of some operations such as response e-mails, whereby the applicants are informed about the progress of their applications as well as on the on-going processing at every stage.
Issues related to reliability and accuracy of the software
Recruitment software relies in the information such as skills and performance scores to shortlist candidates, but it lacks the critical human factor needed for assessing these candidates.
For the detailed list of factors that will drive and challenge the growth of the recruitment software market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies and the competitive environment is quite intense. Factors such as the rise in mergers and acquisition and enhanced communication capabilities and productivity of recruiters, will provide considerable growth opportunities to recruitment software manufactures. IBM, iCIMS, Lumesse, Oracle, and SAP are some of the major companies covered in this report.
Technavio Announces the Publication of its Research Report – Global Recruitment Software Market 2019-2023
Technavio recognizes the following companies as the key players in the global recruitment software market: IBM, iCIMS, Lumesse, Oracle, and SAP.
Commenting on the report, an analyst from Technavio’s team said: “One trend affecting this market is use of AI in recruiting.”
According to the report, one driver influencing this market is the use of social media with recruitment software to reach potential candidates.
Further, the report states that one challenge affecting this market is the threat from open-source recruitment software.
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