"Increasing Focus on Recruitment Marketing and Brand Building Is Driving the Talent Acquisition and Staffing Technology & Services Market"
Globally, the talent acquisition and staffing technology & services market is expected to grow with a CAGR of 6.5% during the forecast period from 2023 to 2030. The market growth is primarily driven by the increasing focus by the organizations on recruitment marketing, brand building, employee engagement and culture development is the primary factor driving market growth. The organizations are focusing heavily on the brand development strategies to acquire talent, increase employee retention rate and offer higher employee engagement.
The enterprises are also leveraging on the recruitment marketing solutions such as CRMs, analytics & reporting tools to connect with potential candidate in the hiring process. Furthermore, the increasing adoption of the advance technologies in the recruitment process is also acting as one of the major force driving the growth of the market. However, the high capital cost of the systems is acting as an inhibitor in the growth in the market. Moreover, the data safety and security issues associated with the systems are also hindering the growth of the market.
"Technologies Is Dominating the Talent Acquisition And Staffing Technology & Services Market"
The talent acquisition and staffing technology & services market is segmented based on the category into technologies, services, and marketing advertising. Technologies dominated the market with more than 43% share in the revenue. The growth of the market is credited to the increasing adoption of the advance technologies such as Big Data, cloud computing and analytics tools. The organizations are leveraging on the publically available information of the prospective candidates to screen their data and acquire better picture of potential employee. Furthermore, the advancement in the technologies such as development of intelligent algorithms is also driving the growth of the market.
"North America Led the Talent Acquisition and Staffing Technology & Services Market"
North America controlled the talent acquisition and staffing technology & services market with 38% share in the revenue. The market growth here is driven by the increasing adoption of the advance technologies among the enterprises for the recruitment purposes. Furthermore, the increasing shortage of the skilled professionals is also encouraging the demand for recruitment solutions across enterprises. Additionally, the rising adoption of smartphones and growing internet penetration in the region is supporting the market growth.
The prominent players in the talent acquisition and staffing technology & services market are Acendre, ADP LLC., BambooHR LLC, CareerBuilder LLC, CornerStone OnDemand Inc., IBM Corporation, Infor, Krones Incorporated, Linkedin Corporation, Lumesse Inc., Oracle Corporation, Paycom Software Inc., PeopleFluent Inc, Randstad Holding NV, Saba Software Inc., SAP SE, Skillsoft Corporation, The Adecco Group, Ultimate Software Group Inc., and Workday Inc.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Talent Acquisition & Staffing Technology & Services market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
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Research Period | 2022-2032 |
Base Year | 2023 |
Forecast Period | 2024-2032 |
Historical Year | 2022 |
Unit | USD Million |
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Key questions answered in this report