AI Recruitment Market Trends and Forecast
The future of the global AI recruitment market looks promising with opportunities in the IT & telecommunication, healthcare, and education markets. The global AI recruitment market is expected to reach an estimated $0.9 billion by 2030 with a CAGR of 6.7% from 2024 to 2030. The major drivers for this market are rising adoption of AI-driven solutions in businesses, growing investments in AI research & development, and increasing demand for AI talent across industries.
• Lucintel forecasts that candidate discovery is expected to witness the highest growth over the forecast period.
• Within this market, IT & telecommunication is expected to witness the highest growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the AI Recruitment Market
• United States: Major tech companies like Google, Microsoft, and IBM are ramping up AI-driven recruitment tools, aiming to streamline hiring processes and enhance diversity in hiring practices. The government is supporting AI education initiatives to meet the growing demand for skilled AI professionals.
• China: Companies like Tencent and Alibaba are investing heavily in AI-powered recruitment platforms, leveraging big data and machine learning algorithms to match candidates with suitable roles. The government has set targets to increase the adoption of AI technologies in the HR sector.
• India: Tech startups such as Naukri.com and LinkedIn are integrating AI into their recruitment platforms to improve candidate sourcing and job matching. The governmentÄX%$%Xs initiatives like Skill India are aligning with industry efforts to train a workforce skilled in AI technologies for the job market.
• United Kingdom: Companies like Hired and Reed are adopting AI tools to automate resume screening and enhance candidate experience. Government-backed programs like the AI Sector Deal are encouraging collaboration between industry and academia to drive innovation in AI recruitment solutions.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
AI Recruitment Market by Segment
The study includes a forecast for the global AI recruitment market by type, application, and region.
AI Recruitment Market by Type [Value from 2018 to 2030]:
• Candidate Discovery
• Candidate Relationship Management
• Job Market Forecasting
• Ad Automation
• Candidate Assessments
• Others
AI Recruitment Market by Application [Value from 2018 to 2030]:
• IT & Telecommunication
• Healthcare
• Education
• Others
AI Recruitment Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of AI Recruitment 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 recruitment companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the AI recruitment companies profiled in this report include-
• SAP
• Zoho Corporation
• Google
• IBM Corporation
• Oracle Corporation
• Automatic Data Processing
• Ultimate Software
• SmartRecruiters
• Jobvite
• CVViZ Softwares
Recent Development in the AI Recruitment Market
• Google: Google has launched an AI-powered candidate matching feature in its Google Hire platform. This initiative uses machine learning algorithms to analyze candidate data and job requirements, improving the accuracy of candidate recommendations for recruiters.
• LinkedIn: LinkedIn has introduced AI-driven Talent Insights, providing recruiters with data-driven analytics and trends to make informed hiring decisions. This initiative leverages AI algorithms to identify talent pools, predict candidate behavior, and optimize recruitment strategies.
• IBM: IBMÄX%$%Xs Watson Recruitment platform integrates AI capabilities to automate candidate sourcing, screening, and engagement. This initiative aims to streamline the recruitment process, reduce bias, and enhance candidate experience through personalized interactions.
• Hired: Hired has implemented AI-powered job matching algorithms to connect candidates with relevant job opportunities based on skills, experience, and preferences. This initiative optimizes the matching process, leading to faster placements and improved candidate satisfaction.
• Talview: Talview has developed virtual AI interviews that use natural language processing and facial recognition technologies to assess candidate responses and behavior. This initiative enables remote interviewing at scale, saving time and resources for recruiters while ensuring fair and objective evaluations.
Features of the Global AI Recruitment Market
Market Size Estimates: AI recruitment market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: AI recruitment market size by type, application, and region in terms of value ($B).
Regional Analysis: AI recruitment 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 recruitment market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the AI recruitment market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the AI recruitment market size?
Answer: The global AI recruitment market is expected to reach an estimated $0.9 billion by 2030.
Q2. What is the growth forecast for AI recruitment market?
Answer: The global AI recruitment market is expected to grow with a CAGR of 6.7% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the AI recruitment market?
Answer: The major drivers for this market are rising adoption of AI-driven solutions in businesses, growing investments in AI research & development, and increasing demand for AI talent across industries.
Q4. What are the major segments for AI recruitment market?
Answer: The future of the AI recruitment market looks promising with opportunities in the IT & telecommunication, healthcare, and education markets.
Q5. Who are the key AI recruitment market companies?
Answer: Some of the key AI recruitment companies are as follows:
• SAP
• Zoho Corporation
• Google
• IBM Corporation
• Oracle Corporation
• Automatic Data Processing
• Ultimate Software
• SmartRecruiters
• Jobvite
• CVViZ Softwares
Q6. Which AI recruitment market segment will be the largest in future?
Answer: Lucintel forecasts that candidate discovery is expected to witness the highest growth over the forecast period.
Q7. In AI recruitment 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.
Q8. 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 recruitment market by type (candidate discovery, candidate relationship management, job market forecasting, ad automation, candidate assessments, and others), application (IT & telecommunication, healthcare, education, 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 Recruitment Market Market, AI Recruitment Market Market Size, AI Recruitment Market Market Growth, AI Recruitment Market Market Analysis, AI Recruitment Market Market Report, AI Recruitment Market Market Share, AI Recruitment Market Market Trends, AI Recruitment Market Market Forecast, AI Recruitment Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.