Global AI Recruitment Market Share Is Expected To Grow At A CAGR Of 6.5% By 2028

14-Sep-2022 | Facts and Factors

According to Facts and Factors, the global AI recruitment market size was worth USD 610.3 million in 2021 and is estimated to grow to USD 890.51 million by 2028, with a compound annual growth rate (CAGR) of approximately 6.5% during the forecast period. The report analyzes the AI recruitment market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the AI recruitment market.

Global AI Recruitment Market Size

Request Sample Request Customization Buy Now

AI for talent acquisition is the application of machine learning capabilities to the recruitment function, such as learning or problem-solving. Artificial intelligence (AI) used for resume screening imitates how a human would assess a resume and can give each applicant a score based on this unbiased evaluation. With the assistance of artificial intelligence, the system can learn, think, and make decisions. It is a computer program that simulates the resume evaluation process. AI allows systems to analyze resumes in the same way that humans do. As technology learns what the ideal candidate looks like at each organization, it becomes increasingly valuable for recruiting. AI recruitment technology can benefit any organization. This technology simplifies the analysis of online applications. There are numerous open positions in large corporations. In addition, there are a large number of individuals applying for each position. Manually checking this application takes time. AI addresses issues such as saving recruiters' time when screening and interviewing applicants. Moreover, it helps businesses or recruiters improve the quality of their employee hires.

Browse the full “AI Recruitment Market Size, Share, Growth Analysis Report By End-users (Retail & E-Commerce, Banking, Financial Services & Insurance, Healthcare, Hospitality, Energy, Government, Enterprise, and Manufacturing), By Product (Solution, and Services), By Application (Process Automation, Campaigning, Candidate Screening, and Candidate Communication), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/ai-recruitment-market

The growing demand for predictive analytics as a critical component of the recruitment process is accelerating the adoption of AI technology. The increasing adoption of AI-based platforms like chatbots, machine learning, and process automation is propelling the use of AI in the recruitment industry. Moreover, the need to screen large amounts of data, such as a candidate's resume, without human intervention drives the global AI recruitment market growth during the forecast period. The most common barrier to using AI in recruitment is the absence of human interaction or touch. Furthermore, the lack of proactiveness displayed by firms in accepting new technologies by sourcing & recruiting personnel and the scarcity of technically skilled recruiters can impede market expansion.

The global AI recruitment market is segregated based on end-users, products, applications, and region. Based on end-users, the market is divided into retail & e-commerce, banking, financial services & insurance, healthcare, hospitality, energy, government, enterprise, and manufacturing. Among these, the banking, financial services & insurance (BFSI) segment led the market in 2021 and is expected to maintain its dominance throughout the forecast period. Based on products, the market is classified into solutions and services. In 2021, the services category dominated the global market. Based on applications, the market is classified into process automation, campaigning, candidate screening, and candidate communication. The process automation segment dominated the market in 2021.

The global AI recruitment market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The North American region dominated the AI recruitment market in 2021 and is expected to continue its dominance over the forecast period. North American companies rapidly implement AI-based machine learning platforms to ensure the most effective hiring process. Moreover, the growing number of IT companies in the United States is boosting the market growth in this region. The United States was the first to use cutting-edge technology like artificial intelligence and machine learning. It presently leads the market owing to its developed economy, well-established network infrastructure, and easy access to qualified professionals, followed by Canada. In addition, the European market is expected to grow at the fastest CAGR between 2022 and 2028. The region's demand has increased significantly due to the region's growing adoption of cloud-based AI recruitment methods. Organizations in the U.K., Germany, Spain, and other countries are progressively implementing AI in talent acquisition to streamline the lengthy hiring process and improve overall efficiency. The substantial investments in this region will positively impact the overall market growth.

Report Scope

Report Attribute

Details

Market Size in 2021

USD 610.3 Million

Projected Market Size in 2028

USD 890.51 Million

CAGR Growth Rate

6.5% CAGR

Base Year

2021

Forecast Years

2022-2028

Key Market Players

SAP SE, TalentRecruit, Zoho Corporation, TalentMind, Google LLC, Mya Systems Inc, IBM Corporation, Textio, Oracle Corporation, HireVue, Automatic Data Processing LCC, CVViZ Softwares Pvt Ltd, Ultimate Software, Jobvite, SmartRecruiters, and Others

Key Segment

By End-users, Product, Application, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa

Purchase Options

Request customized purchase options to meet your research needs. Explore purchase options

Key players in the global AI recruitment market include SAP SE, TalentRecruit, Zoho Corporation, TalentMind, Google LLC, Mya Systems Inc, IBM Corporation, Textio, Oracle Corporation, HireVue, Automatic Data Processing LCC, CVViZ Softwares Pvt Ltd, Ultimate Software, Jobvite, and SmartRecruiters.

Recent Development:

  • May 2020: iCIMS Inc., a leading cloud recruiting platform provider, announced the acquisition of Opening.io, which provides artificial intelligence for talent acquisition, and the launch of iCIMS Talent logic. This acquisition and new product launches will provide an advanced AI solution for scaling transformative and diverse workforces. This latest iCIMS talent logic provides clients with completely new AI that will transform the future of the recruitment process.
  • April 2020: Totaljobs Group Ltd, a recruiting firm, has launched Totaljobs AI-based video interviewing and video calling software to allow businesses to host live interviews during the COVID-19 outbreak. The software also includes pre-recording and sharing capabilities.

Global AI Recruitment Market is segmented as follows:

By End-users

  • Retail and eCommerce
  • Banking, Financial Services and Insurance
  • Healthcare
  • Hospitality
  • Energy
  • Government
  • Enterprise
  • Manufacturing

By Product

  • Services
  • Solution

By Application

  • Process Automation
  • Campaigning
  • Candidate Screening
  • Candidate Communication

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

About Us:

Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Contact Us:
Facts & Factors

A 2108, Sargam,
Nanded City,
Sinhagad Road,
Pune 411041, India
USA: +1 (347) 690-0211
Email: [email protected]
Web: https://www.fnfresearch.com


Latest Market Research Reports

report img

Electric Vehicle Supply Equipment (EVSE) Market Report Report 2024 – 2032

[222+ Pages Report] According to Facts Factors, the global electric vehicle supply equipment market size in terms of revenue was valued at around USD 30.24 billion in 2023 and is expected to reach a value of USD 398.82 billion by 2032, growing at a CAGR of roughly 33.19% from 2024 to 2032. The glob

Published Date : 22-Apr-2024 | | Category : Automotive | Pages : 222 | Format : Read more

Inquiry for Buying Request Sample
report img

Online Pharmacy Market Report Report 2024 – 2032

[223+ Pages Report] According to Facts Factors, the global online pharmacy market size in terms of revenue was valued at around USD 70.33 billion in 2023 and is expected to reach a value of USD 298.24 billion by 2032, growing at a CAGR of roughly 17.41% from 2024 to 2032. The global online pharmacy

Published Date : 22-Apr-2024 | | Category : Healthcare | Pages : 223 | Format : Read more

Inquiry for Buying Request Sample
report img

Bot Security Market Report 2024 – 2032

[219+ Pages Report] According to Facts and Factors, the global bot security market size was valued at USD 611.2 million in 2023 and is predicted to surpass USD 2,991.80 million by the end of 2032. The bot security industry is expected to grow by a CAGR of 19.30% between 2024 and 2032. Bot Security

Published Date : 19-Apr-2024 | | Category : Technology & Media | Pages : 219 | Format : Read more

Inquiry for Buying Request Sample
report img

Hot Fill Packaging Market Report 2024 – 2032

[217+ Pages Report] According to Facts and Factors,the global hot fill packaging market size was valued at USD 66.05 billion in 2023 and is predicted to surpass USD 99.00 billion by the end of 2032. The hot fill packaging industry is expected to grow by a CAGR of 4.60% between 2024 and 2032. Hot Fi

Published Date : 17-Apr-2024 | | Category : Packaging | Pages : 217 | Format : Read more

Inquiry for Buying Request Sample
report img

Anti-counterfeit Pharmaceutical Packaging Market Report 2024 – 2032

[216+ Pages Report] According to Facts and Factors,the global anti-counterfeit pharmaceutical packaging market size was valued at USD 51.08 billion in 2023 and is predicted to surpass USD 142.78 billion by the end of 2032. The anti-counterfeit pharmaceutical packaging industry is expected to grow b

Published Date : 16-Apr-2024 | | Category : Packaging | Pages : 216 | Format : Read more

Inquiry for Buying Request Sample

Why FnF Market Research?

1 Inflallible Methodology

to ensure high-level data integrity, accurate analysis, and impeccable forecasts

2 Analyst Support

for complete satisfaction

3 Customization

on-demand customization of scope of the report to exactly meet your needs

4 Targeted Market View

Targeted market view to provide pertinent information and save time of readers

5 Agile Approach

A faster and efficient way to cater to the needs with continuous iteration