Artificial Intelligence in Recruitment Market Size Estimated to Grow at a CAGR of 6.76% During 2020-2025


Posted October 1, 2020 by debramiller

The growing demand for predictive analytics as an important part of the recruitment process is enhancing the adoption of artificial intelligence technology.

 
Artificial Intelligence (AI) in Recruitment Market size was valued $580 million in 2019, estimated to grow at a CAGR of 6.76% during 2020-2025. The growing demand for predictive analytics as an important part of the recruitment process is enhancing the adoption of artificial intelligence technology. The rising need for AI-based platforms such as chatbots, machine learning, and process automation are further implementing the AI in recruitment industry. Additionally, the need for screening large amount of data such as resume of the candidate without leading to human interference are further boosting the growth of the market during the forecast period.

Key Takeaways

In 2019, the AI in recruitment market was dominated by North America owing to increasing availability of tech companies comprising the adoption of AI for hiring process.

Business, Financial Services and Insurance (BFSI) sector is highly embracing the need for AI for hiring and providing proactive and personalized customer support.

The increasing demand for automated process for screening and shortlisting applicants in order to reduce human error has highly fueled the growth of the AI in recruitment market.

The lack of human interaction or human touch in the AI recruitment process is impacting the adoption of AI-based platform for hiring. As candidates are still preferring human interaction effective communication and hiring.

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Geography – Segment Analysis

In 2019, North America dominated the Artificial Intelligence (AI) in recruitment market with a share of more than 43.7%, followed by Europe and APAC. In North America, the companies are highly adopting AI-based machine learning platform for experiencing the efficient hiring process. Moreover, the rising number of tech companies in the US are highly enhancing the growth of the market in this region. According to Bullhorn (2018), the improvements in the sourcing and screening of candidates in the initial stages of the recruitment process has further fueled the growth of the market in North America.

Drivers – Artificial Intelligence (AI) in Recruitment Market :

Increasing need for automated process

Market Landscape : Major players in Artificial Intelligence (AI) in Recruitment Market Beamery, Brilent, Inc., Entelo, Gloat, hackajob, Harver B.V., Hiretual, Ideal, Jobiak and Leoforce, LLC.,

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Issued By debra miller
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Categories Business , Reports , Technology
Tags artificial intelligence ai in recruitment market , artificial intelligence ai in recruitment market forecast , artificial intelligence ai in recruitment market growth , artificial intelligence ai in recruitment market share , artificial intelligence ai in recruitment market size
Last Updated October 1, 2020