AI Recruitment Market Overview-2030
The global AI recruitment market size was valued at USD 590.5 billion in 2023 and is expected to expand at a CAGR of 6.9% during the forecast period 2023-2030. Key capabilities offered by AI-based recruitment tools include automating repetitive tasks, screening candidates, reducing recruitment time and costs, reducing hiring bias, improving candidate experience, and enabling data-driven hiring decisions.
Based on components, the AI recruitment industry is bifurcated into software tools and services. By organization size, large enterprises dominate the market share currently, while adoption across SMBs is anticipated to grow at a higher rate.
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Market Opportunities
Key opportunities being unlocked by AI in recruitment include:
- Integration of Chatbots to Improve Experience: Chatbots are gaining traction in recruitment for swiftly responding to candidate queries and making the process smoother. Their adoption is therefore expected to grow substantially.
- Increasing Deployment of Automated Screening Tools: Automated screening solutions for tasks like resume sorting, shortlisting, scheduling interviews etc based on AI and NLP are rising in popularity owing to tangible benefits.
- Rising Use of Predictive Analytics and Data-driven Insights: Growing use of AI-based predictive hiring analytics and actionable insights around sourcing tactics, costs per hire and other metrics to enable optimized decisions.
- Adoption of AI Video Interview Platforms: Video interviews enabled by AI like automated invitations, transcription, analysis etc. present an emerging opportunity.
Market Segmentation
By Components:
- Software/Tools
- Services
By Organization Size:
- Large Enterprises
- SMEs
By End-User Industry:
- IT & Telecom
- Healthcare
- Automotive
- Government
- Others
Key Companies
Some of the major players operating in the global AI recruitment market include SAP SE, Zoho Corporation, Google LLC, IBM Corporation, Oracle Corporation, Automatic Data Processing LCC, Ideal, Ultimate Software, SmartRecruiters, Jobvite, CVViZ Softwares Pvt Ltd, Textio, Mya Systems and Talentmind among others.
AI recruitment companies are focused on capabilities including advanced candidate communication, automated task completion, data-driven insights etc. powered by technologies like NLP and ML. Tie-ups between recruitment and technology firms are also gaining traction to enhance portfolio of AI recruiting capabilities.
Regional Insights on AI Recruitment Market
The AI recruitment market is experiencing significant growth and is expected to continue expanding in the coming years. Here are some regional insights into the AI recruitment market based on the provided search results:
- North America dominated the AI recruitment market in 2022, with a market value of USD 4.05 billion. The region is expected to exhibit steady growth at a CAGR of 15.2% from 2023 to 2030. Video interviewing (AI-based) is anticipated to be the leading segment in this market during the forecast period. The increasing need for automation in the recruitment industry, coupled with the adoption of the internet to smoothen recruitment processes, is driving the growth of the market in North America 1.
- Specific insights for the AI recruitment market in Europe are not explicitly mentioned in the provided search results.
- The Asia Pacific region, including countries such as China, India, and Japan, is expected to play a significant role in the growth of the AI recruitment market. However, specific insights for this region are not explicitly mentioned in the provided search results 1.
- The AI recruitment market in the Middle East & Africa is also a part of the global market. However, specific insights for this region are not explicitly mentioned in the provided search results 2.
- South America, particularly Brazil, is also a part of the AI recruitment market. However, specific insights for this region are not explicitly mentioned in the provided search results.
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