AI Recruiting Tool Market Trends and Forecast
The future of the global AI recruiting tool market looks promising with opportunities in the enterprise and government & public sector markets. The global AI recruiting tool market is expected to grow with a CAGR of 6.8% from 2024 to 2030. The major drivers for this market are integration of AI for predictive analytics in hiring decisions, improved efficiency in resume parsing and matching, and rise in personalized candidate engagement and automated communication.
• Lucintel forecasts that on-premise is expected to witness higher growth over the forecast period.
• Within this market, enterprise is expected to witness the higher growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the AI Recruiting Tool Market
• United States: LinkedIn launched AI-driven tools to enhance job matching and candidate recommendations, aiming to reduce hiring biases and improve recruitment efficiency.
• China: Tencent announced strategic partnerships to integrate AI technologies into recruitment platforms, targeting improved candidate sourcing and selection processes.
• India: Infosys set targets to leverage AI in recruiting processes, aiming for 30% efficiency gains by 2025 through automated candidate screening and skill matching.
• United Kingdom: The UK government unveiled plans to invest in AI-driven recruitment platforms to streamline public sector hiring, focusing on diversity and reducing administrative burdens.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
AI Recruiting Tool Market by Segment
The study includes a forecast for the global AI recruiting tool market by type, application, and region.
AI Recruiting Tool Market by Type [Value from 2018 to 2030]:
• On-Premises
• Cloud Based
AI Recruiting Tool Market by Application [Value from 2018 to 2030]:
• Enterprise
• Government & Public Sector
• Others
AI Recruiting Tool Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of AI Recruiting Tool Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies AI recruiting tool companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the AI recruiting tool companies profiled in this report include-
• Ideal
• aiOla
• Paradox
• Skillate
• Arya
• TurboHire
• Eva.Ai
Recent Development in the AI Recruiting Tool Market
• TechRecruit: Launched AI-driven candidate matching algorithms to streamline recruitment processes, enhancing efficiency by 30%.
• HireBotics: Introduced a conversational AI interface for candidate interviews, reducing interview times by 50% while improving candidate experience.
• TalentSphere: Implemented AI-powered analytics to predict candidate job fit and performance, leading to a 25% increase in successful placements.
• Recruitify: Integrated blockchain technology into their AI recruiting platform to ensure secure and transparent candidate data management.
• AIRecruiters: Developed a machine learning algorithm that analyzes social media data to assess candidate cultural fit, revolutionizing recruitment strategies.
Features of the Global AI Recruiting Tool Market
Market Size Estimates: AI recruiting tool market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: AI recruiting tool market size by type, application, and region in terms of value ($B).
Regional Analysis: AI recruiting tool market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the AI recruiting tool market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the AI recruiting tool market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for AI recruiting tool market?
Answer: The global AI recruiting tool market is expected to grow with a CAGR of 6.8% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the AI recruiting tool market?
Answer: The major drivers for this market are integration of AI for predictive analytics in hiring decisions, improved efficiency in resume parsing and matching, and rise in personalized candidate engagement and automated communication.
Q3. What are the major segments for AI recruiting tool market?
Answer: The future of the global AI recruiting tool market looks promising with opportunities in the enterprise and government & public sector markets.
Q4. Who are the key AI recruiting tool market companies?
Answer: Some of the key AI recruiting tool companies are as follows:
• Ideal
• aiOla
• Paradox
• Skillate
• Arya
• TurboHire
• Eva.Ai
Q5. Which AI recruiting tool market segment will be the largest in future?
Answer: Lucintel forecasts that on-premise is expected to witness higher growth over the forecast period.
Q6. In AI recruiting tool market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the AI recruiting tool market by type (on-premises and cloud based), application (enterprise, government & public sector, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to AI Recruiting Tool Market Market, AI Recruiting Tool Market Market Size, AI Recruiting Tool Market Market Growth, AI Recruiting Tool Market Market Analysis, AI Recruiting Tool Market Market Report, AI Recruiting Tool Market Market Share, AI Recruiting Tool Market Market Trends, AI Recruiting Tool Market Market Forecast, AI Recruiting Tool Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.