Market Highlights
AI recruitment is an artificial intelligence-driven recruitment software which streamlines and automates the recruitment processes in order to improve the talent acquisition process and enhance the employee experience. The AI recruitment software uses technologies such as machine learning and sentiment analysis to optimize various recruitment processes such as auto-screening candidates and identifying potential candidates based on their job description.
Recruiter chatbots, intelligent screening software, and digitized interviews are some of the recent trends prevailing in the AI recruitment market.
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Segmentation:
The global AI recruitment market has been segmented on the basis of component, organization size, deployment, application, vertical, and region.
By component, the market has been segmented into software and services.
By organization size, the market has been segmented into SMEs and large enterprises.
By deployment, the market has been segmented into on-cloud and on-premise.
By application, the market has been segmented into resume filtering, candidate discovery, candidate relationship management, job market forecasting, ad automation, candidate assessments, and others.
By vertical, the market has been categorized into government, commercial, IT and telecommunication, healthcare, BFSI, education, and others.
By region, the market has been segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
Regional Analysis
The geographic analysis of AI recruitment market has been done for North America (the US, Canada, and Mexico), Europe (Germany, the UK, France, Spain, Norway, Benelux, and Italy), Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Indonesia, and the Philippines), Middle East and Africa (Saudi Arabia, Israel, Turkey, and South Africa) and South America (Brazil, Peru, Chile, and Argentina).
North America is currently dominating the global AI recruitment market. The US, followed by Canada is currently leading the market as the country has been the earliest adopter of advanced technologies such as AI and machine learning. Additionally, well-established network infrastructure, developed economy, and availability of skilled experts are driving the growth of AI recruitment market in the US. Furthermore, the region houses majority of the key players who are focused on developing AI-based recruitment solutions to meet various applications of recruitment process is contributing to the growth of AI recruitment market in the region.
Europe is having a significant share in the global AI recruitment market. Enterprises across the UK, Germany, Spain, and Norway among others, are witnessing significant adoption of AI in talent acquisition owing to the need to automate the tedious hiring process and enhance the overall efficiency. Furthermore, growing adoption of cloud-based recruiting tools has significantly increased the demand in the region.
Asia-Pacific region is projected to grow at the fastest CAGR in the global AI recruitment market. China, Japan, and India emphasize talent acquisition in order to source highly qualified candidates whose expertise match the job description. Growing adoption of the cloud-based services and government initiatives supporting digitalization across countries have increased the demand AI and recruitment. Furthermore, growing number of SMEs across the region which demands cloud-based AI hiring solutions is further contributing to the market growth.
The Middle East and Africa and South America are expected to grow at a steady pace in the AI recruitment market. Growing demand across enterprises in the region to enhance the quality and efficiency of talent acquisition, increasing adoption of cloud platform and advancements in AI technology are a few factors increasing the demand of AI recruitment software in the region.
Key Players
MRFR has considered SAP SE (Germany), Zoho Corporation (India), Google LLC (US), IBM Corporation (US), Oracle Corporation (US), Automatic Data Processing, LCC (US), Ultimate Software (US), SmartRecruiters (US), Jobvite (US), CVViZ Softwares Pvt Ltd (India), HireVue (US), Textio (US), Mya Systems, Inc. (US),TalentMind (Singapore), and TalentRecruit (India) as some of the key players in the global AI Recruitment market.
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