Findings from Future Market Insights’ recently published report indicate a steady rise in the global demand for talent acquisition and staffing technology. Cloud-based platforms for hiring best talents are gaining prominence in talent acquisition businesses. Moreover, growing impact of social media technology on workforce recruitment industry has boosted the market’s growth. In the report, titled “Talent Acquisition and Staffing Technology & Services Market: Global Industry Analysis (2012-2017) & Forecast (2017-2027),” social platforms are expected to gain traction, registering a global market value share of little over 46% by the end of 2017.
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Key highlights from the report on global market for talent acquisition and staffing technology & services include:
Global talent acquisition & staffing technology & services market is projected to expand at a value CAGR of 5.9% during the forecast period, 2017-2027
By the end of 2017, the market will be valued over US$ 87 Bn
Social media platforms is estimated to be valued at US$ 40.2 Bn in 2017, and is expected to grow at a significantly high CAGR during the forecast period
Towards the end of 2027, nearly US$ 154 Bn worth of revenues will be amassed in the global market
Impetus on recruitment marketing and hiring culture is gaining traction across global corporate settings. Employee engagement and brand building are being closely associated with each other as employment of credible individuals is enhancing a company’s operation efficiency as well as reputation. Creating positive candidate experience through transparent communication is a prominent trend observed in the global market for talent acquisition and staffing technology & services. In 2017 and beyond, proliferation of analytical tools and social media platforms will be viewed profitable for the market’s growth. Surging adoption of Big Data and other data-driven solution for decision making in talent acquisition business is also expected to impact the dynamic growth of the market.
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However, the market is pegged to witness restraints from improper sourcing and low investments. Sourcing the right candidate continues to be a major challenge for talent acquisition and staffing technology & services. Moreover, participants in the market are observed low investment; companies are failing to garner sizeable investment for offering global recruitment services. The report has profiled key participants in the global market for talent acquisition and staffing technology & services, which include International Business Machine Corporation, Oracle Corporation, SAP SE, Randstad Holding NV, Linkedin Corporation, PeopleFluent, Inc, CareerBuilder,LLC , CornerStone OnDemand, Inc., Saba Software,Inc., Paycom Software, Inc., The Adecco Group, ADP, LLC., Workday,Inc., Krones Incorporated, Ultimate Software Group, Inc., Skillsoft Corporation, Lumesse, inc., Acendre, Infor, BambooHR, LLC.
The report predicts that demand for services will be higher, and will account for 67.2% share on global market value by the end of 2017. Throughout the forecast period, North America will be viewed as dominant region, accounting for more than one-fourth of value of the global market for talent acquisition and staffing technology & services. Japan, on the other hand will showcase fastest growth as its talent acquisition and staffing technology & services market is predicted to soar at 8.8% CAGR through 2027. The report also reveals that talent acquisition and staffing technology & services in the Middle East & Africa region will exhibit a nascent growth, and will be valued at US$ 4.5 Bn by 2027-end.
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