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Jan. 27, 2021, 8:07 a.m. EST

AI Recruitment Market Size, Share, Sales, Revenue 2021 | Movements by Development Analysis, Progression Status, Revenue Expectation to 2025, Research Report

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Jan 27, 2021 (AmericaNewsHour) -- Kenneth Research has recently added a market research study on AI Recruitment Market 2025 which provides a complete comprehensive analysis including the data by Segmentations, by Geography and as well as the competitive landscape of the top 10 Vendors in this market

In 2018, the worldwide GDP stood at USD 84,740.3 Billion as compared to the GDP of USD 80,144.5 Billion in 2017, marked a growth of 5.73% in 2018 over previous year according to the data quoted by International Monetary Fund. This is likely to impel the growth of AI Recruitment Market over the period 2019-2026. As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017.

Download Sample of This Strategic Report:-  https://www.kennethresearch.com/sample-request-10151346

Market Synopsis

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. The AI recruitment tools are built on algorithms which compare the candidate attributes such as work experience, skills and qualifications, and compares it to the qualitative recruiting factors such as duration of service, employer noteworthiness, geographical location, and others. These factors are analyzed by the proprietary machine learning (ML) or AI technology which allows the recruitment system to weigh and score each factor of the candidate appropriately.

The Final Report will cover the impact analysis of COVID-19 on this industry:

Download Sample of This Strategic Report:-  https://www.kennethresearch.com/sample-request-10151346

AI has a significant impact across all the domains and recruiting is no exception. AI recruitment software has the potential to scale, analyze, and manage huge volumes of data generated across enterprises which helps in improving the quality of hiring process, discover candidates, automate the advertisement process, filter out resumes, and carry out candidate assessment. Increasing need among recruiters to automate the complex recruitment process and growing need to improve the quality of hiring process are the major factors driving the growth of AI recruitment market. According to a study by Ideal, an AI recruiting software provider, 52% of the talent acquisition leaders find screening candidates from a huge applicant pool the most challenging part of recruitment. AI recruitment tools help in automating repetitive tasks such as resume screening and pre-qualifying candidates, increasing the quality and efficiency of recruitment processes.

The market seeks opportunities from advancements in AI technology. However, reluctance in adopting new technologies by sourcing and recruitment professionals and lack of technical expertise is the major challenge faced by the market.Recruiter chatbots, intelligent screening software, and digitized interviews are some of the recent trends prevailing in the AI recruitment market.

Key Players:

The prominent players active in the global market of AI recruitment are 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).

Recent Developments:

In June 2018, Google updated its recruiting platform named Hire with new tools such as Gmail, Google Calendar, and other G Suite apps which are widely used by the recruiters on a daily basis. The new updates help recruiters in scheduling interviews within seconds, auto-highlight resumes, and easy contact the candidate. This helps in improving the work efficiency and reducing the time spent to complete common recruiting tasks such as reviewing applications or scheduling interviews by up to 84%.In March 2018, SmartRecruiters, an enterprise-grade recruitment software provider, launched industry's first AI-powered recruiting assistant, a new addition to its talent acquisition suite.

Download Sample of This Strategic Report:-  https://www.kennethresearch.com/sample-request-10151346

The new module helps in solving perennial problems in recruiting such as identifying talent on any applicant tracking system (ATS) without any biases, free up the recruitment capacity, and reduce the cost associated with advertising thereby improving the quality of the overall hiring process. This allows the recruiters to automate the cumbersome task of screening candidates, finding the best fit from the talent pool and helping them to engage in their most important function i.e., fostering deep and meaningful relationships with candidates.

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

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