Online recruitment: Key market research findings
- Increasing use of social media platforms for recruitment
- Growing globalization and rise in growth opportunities
Technavio has released a market research report on the online recruitment market in the US, which is estimated to grow at a CAGR of over 6% between 2016 and 2020. The growing trend of using mobile devices and smartphones to post job notifications for online recruitment has a positive impact on the market as this allows the candidates to connect with employers regardless of the time or place. Furthermore, companies are also launching mobile apps or mobile-friendly websites as a response to increased use of mobile devices. The increased investments by vendors in online recruitment technology are also expected to boost the growth of the market in this region during the forecast period.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Online recruitment service providers are availing benefits by using several social media platforms for recruitment due to the recent social media boom. Factors such as easy referrals, higher chances of identifying suitable candidates, optimum candidate engagement, and mutually beneficial, two-way communication are encouraging more companies to shape their recruitment structure around social media platforms. Then emergence of new social recruitment platforms due to the rising penetration of Internet is also expected to have a positive influence on the market,” says Abhay Sinha, Lead Analyst, New Coverage, Technavio Research.
The US is one of the key influential economies of the world and holds several competitive advantages in comparison with emerging economies. This has opened up opportunities for innovation and increased competition. The advent of Internet technology has reshaped the corporate recruitment structure with companies hiring a geographically diverse workforce. The increase of investments in advanced technology by various organizations is also expected to contribute the growth of the online recruitment market in the US.
The key vendors in the online recruitment market in the US are LinkedIn, CareerBuilder, Monster, and Indeed. This market is moderately fragmented due to the minor presence of small vendors. Additionally, the vendors in this market are also coming up with newer technologies in product development to stay competitive in the market. Competition in this market is expected to intensify during the forecast period with an increase in product and service extensions, innovations in technology, and M&A activities.
A more detailed analysis is available on the Technavio report, Online Recruitment Market in the US 2016-2020.
We can customize reports by other regions and specific segments upon request.
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