AI Recruitment Market
A new market study, titled “AI Recruitment Market” has been featured on Market Research Future.
The AI (artificial intelligence) recruitment market 2020 can gain grounds at a significant rate between 2019 and 2025 (review period), says Market Research Future (MRFR). We will provide COVID-19 impact analysis with the report. The COVID-19 impact on the market has been carefully studied, following which the report outlines the key developments post the coronavirus disease outbreak.
More Information@ https://www.marketresearchfuture.com/reports/ai-recruitment-market-8289
COVID-19 Analysis
The trend of deploying AI in recruitment processes has become even more prevalent after the COVID-19 outbreak and the lockdown imposed due to the pandemic. Whether offices are currently working as teleworking, planning for the future or are normal, SARS-CoV-2 has steered their focus more towards artificial intelligence tools to streamline hiring as well as recruiting, while continuing the practice of social distancing.
The novel coronavirus has boosted the use of video interview tools along with various online candidate review tools that largely use AI and its decision-making capabilities. COVID-19 seems to have boosted the number of live interviews that use platforms like Zoom, Skype, and more. In the current crisis, companies are now even more focused on drawing in candidates that are ideal for the organization. Higher deployment of AI chatbots post the SARS-CoV-2 has led to the emergence of opportunities in the AI recruitment market.
To illustrate, in June 2020, CareerBuilder upgraded its Talent Acquisition Suite by adding innovative tools that help deal with the issues faced during recruitment, while helping HR managers reach out to the top-tier candidates. The additional tools include a Talent Discovery Platform that now boasts of artificial intelligence/AI as well as machine-learning abilities that enable firms quickly discover an ideal talent.
Top Drivers and Key Deterrents
The growth of the artificial intelligence recruitment market has been quite commendable in recent years, given the exponential surge in the use of predictive analytics in hiring and recruitment processes. The rising deployment of predictive analysis along with the AI technology can be highly favorable for the worldwide market in the years to come.
Several new systems and tools are being built to boost the efficiency of AI recruitment, like computer programs or techniques to procure useful information about the candidates and help recruiters reach data-driven decisions with the use of predictive analytics. The addition of these innovative systems to the existing HR software, which is powered by AI can be a notable growth inducer in the global market.
Some of the AI recruitment market trends that are increasingly gaining prominence include intelligent screening software, digitized interviews and recruiter chatbots that help organizations select an ideal fit in a very short period. In a nutshell, the mounting need for automation of complex hiring processes along with the surging need for improvement of the recruitment process’ quality could help the AI recruitment market achieve high revenues in the following years.
Market Segmentation
The AI recruitment industry can be considered for component, organization size, deployment, application and vertical.
The component-based market categories can be services and software.
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AI Recruitment MarketRegional AnalysisThe 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.
OverviewThe AI Recruitment Market is projected to grow at a high CAGR during the forecast period.
As per the AI recruitment market research report, the global market for AI recruitment is projected to grow swiftly by 2025.
According to analysts, AI's significant impact across all the verticals as well as the need to improve the hiring process quality will drive the market growth during the forecast period.
Additionally, the market on the basis of vertical, is segmented into BFSI, commercial, education, healthcare, IT and telecommunication, government, and others.Major elements such as complex technological solutions could obstruct the AI recruitment market growth.
The AI recruitment market research report provides an extensive understanding of the AI recruitment market based on the information and forecasts till 2025.Regional OverviewNorth America, Europe, Asia Pacific and the rest of the world regional market for AI recruitment are predominantly covered in the global AI Recruitment Market Size.
In Asia-Pacific (APAC) region, the country-level AI recruitment markets covered are Japan, India, China, and others.
With technology percolating in almost every stratum of society, HR functions are expected to follow suit in the coming years, inevitably modifying the AI recruitment market 2020.
The candidate procurement and sourcing processes are the uppermost concerns in the staffing industry as companies are influenced by the high churn rates owing to low unemployment.In the recruiting software market, employing the right people on board is considered a key part of long-term business achievement.
It can suitably provide critical understanding to recruiters, employers, hiring managers, and candidates to make the right acquisition decisions.Where relationship building is vital in a job role, AI in hiring holds great potential.
The restructuring and mechanizing of most of the transactional portions of recruitment, AI opens up time for recruiters to improve continuing relationships with applicants, which sooner than later leads to improved business functioning.
Candidates in the process also experience frustrations with the recruiting process comprises of the lack of communication by recruiters about the condition of their application.
By the use of conversational interfaces like recruiter chatbots, can allow the nurturing of candidates and offer them with prompt updates on how they are evolving through the recruitment process.One of the key concerns in traditional recruitment practices has been the part of bias that slinks into the candidate assessment process.
