Asia Pacific Online Recruitment Market
No. of Pages: 83 | Report Code: TIPRE00023575 | Category: Technology, Media and Telecommunications
No. of Pages: 83 | Report Code: TIPRE00023575 | Category: Technology, Media and Telecommunications
The APAC online recruitment market is sub segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. It has enormous growth potential, with fast-growing countries such as China and India and developed countries such as Japan and Australia. The rise in smartphone and internet penetration in Asia Pacific countries is acting as a major opportunity for the key players in the online recruitment market. Rapid technological advances and policy support, as well as digitalization, are among the factors that are assisting the transition of economies in this region from the developing phase to the developed phase. APAC is projected to register the fastest CAGR in the global market during the forecast period. The region has robust IT infrastructure along with the access to strong software and services offerings. Every organization has unique recruiting needs, and as the organization grows, it needs change. Growth occurs so rapidly in some organizations, and it becomes almost impossible to meet the recruiting needs unless the process changes. For example, Groupon, operated as gaopeng.com in China, started operations in early 2011. Groupon is a daily deal website featuring regional and local deals on activities, restaurants, products, services, and more. Groupon is growing and presently operating in 48 countries. Fabian Kast, Groupon China's Head of Recruitment, met with the daunting task of setting up multiple offices across different cities with teams that were supposed to hire for various positions simultaneously. Using recruitment software from Recruiterbox made it easy for Groupon to employ an efficient workforce for different departments across different countries remotely. Thus, online recruitment helps saves traveling cost and time in recruiting in different countries at the same time. Of all internet users in APAC, over four in five use social networks. While Western job seekers leverage Facebook, LinkedIn, and Twitter, these networks remain blocked in China, where employers use WeChat and Sino Weibo to engage prospective candidates and attract them. The growing popularity of job boards and the increased internet penetration in this region are significant factors driving the online recruitment market in APAC.
The COVID-19 pandemic has severely impacted APAC due to wide disease spread; countries in this region are among the highly populated, which leads to the greater risk infection spread. Many global brands and technological companies are headquartered in the region. According to the Organization for Economic Co-operation and Development (OECD), the pandemic has affected major economies such as China, India, Australia, and Japan, which are experiencing inflation. The COVID-19 pandemic, according to the Asia–Pacific Employment and Social Outlook 2020, would have wiped out 81 million workers by 2020. As per the quarterly data available for 2020, employment levels fell in virtually all economies, compared to those in 2019. Working hours in Asia and the Pacific countries fell by 15.2% in the second quarter and 10.7% in the third quarter of 2020, compared to pre-crisis levels. Working-hour losses are also contributed to the fact that millions of people left the labor force or lost their jobs due to plummeted growth of enterprises. Thus, the online recruitment providers experienced adversely effects in APAC countries during the first three quarters of 2020. However, with the gradual opening of economic activity across the region, the demand for skilled workforce has begun to rise across all industries from the end of 2020, thereby contributing to the rise in demand of online recruitment across the region
Strategic insights for the Asia Pacific Online Recruitment provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 6,825.11 Million |
| Market Size by 2028 | US$ 12,467.50 Million |
| Global CAGR (2021 - 2028) | 9.0% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Job Type
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
|
The geographic scope of the Asia Pacific Online Recruitment refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The online recruitment market in APAC is expected to grow from US$ 6,825.11 million in 2021 to US$ 12,467.50 million by 2028; it is estimated to grow at a CAGR of 9.0% from 2021 to 2028. Integration of Artificial Intelligence (AI) in recruitment; Several businesses use artificial intelligence in the HR, some way or another. AI is expected to be used in the recruiting process by businesses. AI for hiring refers to the use of artificial intelligence to solve problems in the same way that a machine does. The use of technology is assisting in the streamlining of high-volume activities in the recruitment process. Online application management is one of the ways AI is assisting businesses with the recruiting process. Applicant monitoring from recruiter databases involves many keywords and other data points that AI can easily filter and analyze. To speed up the hiring process, AI assists recruiters in sorting through thousands of resumes. This is bolstering the growth of the online recruitment market.
In terms of job type, the permanent segment accounted for the largest share of the APAC online recruitment market in 2020. In terms of application, the IT segment held a larger market share of the online recruitment market in 2020. Further, the energy & power segment held a larger share of the market based on end user in 2020.
A few major primary and secondary sources referred to for preparing this report on the online recruitment market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are ABC Consultants
The Asia Pacific Online Recruitment Market is valued at US$ 6,825.11 Million in 2021, it is projected to reach US$ 12,467.50 Million by 2028.
As per our report Asia Pacific Online Recruitment Market, the market size is valued at US$ 6,825.11 Million in 2021, projecting it to reach US$ 12,467.50 Million by 2028. This translates to a CAGR of approximately 9.0% during the forecast period.
The Asia Pacific Online Recruitment Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Online Recruitment Market report:
The Asia Pacific Online Recruitment Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Online Recruitment Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Online Recruitment Market value chain can benefit from the information contained in a comprehensive market report.
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