Online Recruitment Market Size, Share, Growth Analysis, By Job Type(Permanent, Part-time), By Application(Finance, Sales, Marketing, Engineering), By Region - Industry Forecast 2024-2031

Online Recruitment Market size was valued at USD 29292.3 million in 2019 and is poised to grow from USD 31372.05 million in 2023 to USD 58163.19 million by 2031, growing at a CAGR of 7.1% in the forecast period (2024-2031).

Due to Online Recruitment Market demand, all corporate procedures, including hiring, have gone digital. However, in the majority of cases, digital transformation entails investing in software and data technologies, such as hiring solutions and online hiring channels, in order to scale back or completely eliminate administrative tasks and boost operational performance within and across departments and hiring teams.

The growth in employment opportunities has significantly increased the need for advanced recruiting platforms. These platforms are needed to simplify recruitment procedures such as resume management, employee screening, assessment tools, and others. The business is primarily driven by the widespread outsourcing of traditional hiring procedures to online recruiting platforms. The Online Recruitment Market's primary growth drivers are the growth of social networking, the widespread usage of cloud-based technologies, and easy access to high-bandwidth internet infrastructure.

A growing number of businesses are using AI in their hiring procedures. Around the world, various solutions including candidate relationship management software, interviewing software, and application monitoring software are improving the whole online hiring procedures. Recruitment agencies are integrating data analytics-driven solutions for their applicant monitoring processes in order to fully benefit from online recruitment. In January 2020, Jobvite revealed a data science plan to support its HR product line. This tool seeks to prevent time wastage for both candidates and recruiters by providing the finest candidates to firm recruiters.

The fourth industrial revolution and digital transformation have also had a favorable impact on the Online Recruitment Market and given rise to a new generation of employment opportunities.

US Online Recruitment Market is poised to grow at a sustainable CAGR for the next forecast year.