Authored By: Sarah
06 Jan 2025

Latest News- AI In Recruitment Industry Market: Services is expected to lead the Component segment during 2025-2029

The AI In Recruitment Industry Market is being driven by Increasing need for automated processes in recruitment industry

The AI In Recruitment Industry Market is expected to grow at a CAGR of 7.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 287.2 million. The fusion of AI technology with advanced analytics tools is significantly propelling the expansion of the global AI in recruitment industry market. By merging recruitment data with sophisticated analytics capabilities, businesses can derive meaningful insights into their hiring processes, candidate behaviors, and workforce trends. This integration empowers recruiters and hiring managers to make informed decisions, enhance recruitment strategies, and boost overall hiring performance. Analytics tools integrated into talent AI enable organizations to monitor essential metrics such as time-to-fill, cost-per-hire, applicant demographics, and source effectiveness, offering actionable insights into recruitment efficiency and productivity. Moreover, predictive analytics and machine learning algorithms, enabled by the synergy of AI and analytics tools, enable organizations to anticipate future hiring requirements, recognize potential talent shortages, and address recruitment challenges proactively. 

Get more information on AI In Recruitment Industry Market by requesting a sample report

 

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on Component (Services, Solutions) Deployment (Cloud, On-premises) Geography (North America, Europe, APAC, Middle East and Africa, South America). 

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

  • Increasing need for automated processes in recruitment industry
  • Demand for streamlining hiring process in recruitment industry
  • Rapid shift toward web-based applications and digitization for recruitment

Benefits of Buying Global AI In Recruitment Industry Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Key Features in AI In Recruitment Industry Market Research Report

  • Comprehensive Market Analysis
  • In-Depth Competitive Landscape
  • Future Market Trends
  • Detailed Market Segmentation.
  • Expert Analysis, and more...

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

AI technology is revolutionizing the recruitment industry with innovative solutions and tools like InCruiter's InCBot. HR professionals utilize machine learning algorithms from companies such as Automatic Data Processing, Ultimate Software, and SmartRecruiters to streamline the recruitment process. AI technology analyzes resumes and online applications, identifying eligible candidates and automating time-consuming tasks. Additionally, interview analytics and video surveillance from security systems enhance the hiring process in various sectors, including the SME sector and its verticals. AI bots evaluate CVs and job applications, making recruitment more efficient and effective.

Market Research Overview

The recruitment industry is experiencing a significant shift towards the adoption of AI solutions and tools to streamline and optimize the hiring process. Companies such as InCruiter, InCBot, SmartRecruiters, and Ultimate Software are leading the charge in this space, leveraging machine learning algorithms and Automatic Data Processing (ADP) to enhance HR functions. These AI recruitment solutions enable the automated screening of resumes, interview scheduling, and candidate assessment, reducing the workload on HR teams and improving overall efficiency. According to market research firm Technavio, the global application software market, which includes AI recruitment tools, is expected to grow significantly over the next few years, reaching a size of over USD500 billion by 2025. This growth is driven by the increasing demand for cloud-based software and the need for specialized applications to address the unique requirements of various industries.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.


Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Read News Read Less
Interested in this report?
Get your sample now!

Safe and Secure SSL Encrypted

Technavio

  • 2500 USD

[5 reports/month/user]

  • 5000 USD

close
  • Basic Plan [5000 USD/Year]:

    Single User
    Download 5 Reports/Month
    View 100 Reports/Month
    Add upto 3 Users at 625 USD/user

  • Teams Plan [7500 USD/Year]:

    5 User
    Download 5 Reports/Month/User
    View 100 Reports/Month/User
    Add upto 30 Users at 500 USD/user

*You can upgrade to Teams plan at Subscription page

close
  • Single:

    One user only.
    Quick & easy download option

  • Enterprise:

    Unlimited user access (Within your organization).
    Complimentary Customization Included

*For Enterprise license, go to checkout page

Technavio Get the report (PDF) sent to your email within minutes.