North America Online Recruitment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Job Type (Permanent and Part-Time) and Application (Finance, Sales and Marketing, Engineering, IT, and Others)
Market Introduction
The US, Canada, and Mexico are the key contributors to the North America online recruitment market. The US and Canada are developed countries in terms of modern technologies, standard of living, and infrastructure. North America is one of the frontrunners in terms of developing and accepting new, advanced technologies. The significant adoption of technologies in the last five years has fueled the adoption of various recruitment software, thereby promoting online recruitment processes across the region. The high internet penetration among the North American countries, coupled with the high digitalization rate among companies, is a major driver for the online recruitment market across the region. For instance, the US, had 288.1 million internet users in January 2020. Between 2019 and 2020, the number of internet users in the US increased by 1.8 million (+0.6%). In January 2020, the US had an Internet penetration rate of 87%. Additionally, in January 2020, the country had 230.0 million social media members. Between April 2019 and January 2020, the number of social media users in the US increased by 6.9 million (+3.1%). In January 2020, social media penetration in the US was at 70%. This rises in internet and social media adoption by the North American population encouraged the adoption of online recruitment across the region to attract more candidates for specific job roles posted by companies.
It is becoming apparent with the COVID-19 pandemic spreading across the United States significant challenges are faced by all industries. Thus, any impact on industries directly affects the economic development of North America. The US is the world's worst-affected country by the COVID-19 outbreak. The consequent economic downturn has led to the rise in number of jobless candidates by more than 14 million in the country, which reached 20.5 million in May 2020 from 6.2 million in February 2020. As a result, in 2020, the rate of unemployment increased from 3.8% in February to 13.0% in May in the US; the rise in unemployment rate continued in April as well with 14.4%. This also led to a standstill in recruitment process across the region thereby impacting the online recruitment market. However, post Q3 2020, the number of COVID-19 cases in the US started declining, thus triggering gradual normalization of economic activities in the country. This resulted in rise in demand of products and services across the region. Moreover, with the improved vaccine distribution and administration drives, the US witnessed a more than expected increase in job openings in February 2021. According to data released by the Job Openings and Labor Turnover Survey (JOLTS), in 2021, the number of job openings rose to 7.4 million in March 2021 from 7.1 million in February 2021. Nonetheless, the labor market has a long way to go before resuming its late-2019 status. The US hiring rate increased to 4% in February 2021 from 3.8% in February 2020. To hire people easily and rapidly while maintaining social distancing, the demand for online recruitment rapidly increased across the region
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Market Overview and Dynamics
The online recruitment market in North America is expected to grow from US$ 12,009.85 million in 2021 to US$ 18,273.05 million by 2028; it is estimated to grow at a CAGR of 6.2% 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.
Key Market Segments
In terms of job type, the permanent segment accounted for the largest share of the North America 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.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the online recruitment market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Glassdoor, Inc.; iPlaceUSA, Inc.; itForte; Info Edge (India) Ltd. (naukri.com); LinkedIn Corporation; SH Inc; StepStone GmbH; are among a few players operating in the North America online recruitment market.
Reasons to buy report
- To understand the North America online recruitment market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America online recruitment market
- Efficiently plan M&A and partnership deals in North America online recruitment market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America online recruitment market
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.
NORTH AMERICA ONLINE RECRUITMENT MARKETSEGMENTATION
North America Online Recruitment Market – By Job Type
- Permanent
- Part-Time
North America Online Recruitment Market – By Application
- Finance
- Sales and Marketing
- Engineering
- IT
- Others
North America Online Recruitment Market – By Country
- US
- Canada
- Mexico
North America Online Recruitment Market -Companies Mentioned
- Glassdoor, Inc.
- Info Edge (India) Ltd. (naukri.com)
- iPlaceUSA, Inc.
- itForte
- LinkedIn Corporation
- SH Inc
- StepStone GmbH
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Online Recruitment Market – By Job Type
1.3.2 Online Recruitment Market – By Application
1.3.3 Online Recruitment Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Online Recruitment Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Online Recruitment Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Integration of Technologies in Online Recruitment
5.1.2 Digitalization of All Business Processes Including Recruitment
5.2 Market Restraints
5.2.1 Common Difficulties Faced in Online Recruitment
5.3 Market Opportunities
5.3.1 Integration of Artificial Intelligence (AI) in Recruitment
5.4 Future Trends
5.4.1 Emergence of Fully Remote Companies and Social Media Recruiting
5.5 Impact Analysis of Drivers and Restraints
6. Online Recruitment Market – North America Analysis
6.1 North America Online Recruitment Market Overview
6.2 North America Online Recruitment Market – Revenue and Forecast to 2028 (US$ Million)
7. North America Online Recruitment Market Analysis – By Job Type
7.1 Overview
7.2 North America Online Recruitment Market, By Job Type (2020 and 2028)
7.3 Permanent
7.3.1 Overview
7.3.2 Permanent: North America Online Recruitment Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Part-Time
7.4.1 Overview
7.4.2 Part-Time: North America Online Recruitment Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Online Recruitment Market Analysis – By Application
8.1 Overview
8.2 North America Online Recruitment Market, By Application (2020 and 2028)
8.3 Finance
8.3.1 Overview
8.3.2 Finance: North America Online Recruitment Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Sales and Marketing
8.4.1 Overview
8.4.2 Sales and Marketing: North America Online Recruitment Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Engineering
8.5.1 Overview
8.5.2 Engineering: North America Online Recruitment Market – Revenue and Forecast to 2028 (US$ Million)
8.6 IT
8.6.1 Overview
8.6.2 IT: North America Online Recruitment Market – Revenue and Forecast to 2028 (US$ Million)
8.7 Others
8.7.1 Overview
8.7.2 Others: North America Online Recruitment Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Online Recruitment Market – Country Analysis
9.1 Overview
9.1.1 North America: Online Recruitment Market – Revenue and Forecast to 2028 (US$ Million)
9.1.2 North America: Online Recruitment Market, by Key Country
9.1.2.1 US: Online Recruitment Market – Revenue and Forecast to 2028 (US$ Million)
9.1.2.1.1 US: Online Recruitment Market, by Job Type
9.1.2.1.2 US: Online Recruitment Market, by Application
9.1.2.2 Canada: Online Recruitment Market – Revenue and Forecast to 2028 (US$ Million)
9.1.2.2.1 Canada: Online Recruitment Market, by Job Type
9.1.2.2.2 Canada: Online Recruitment Market, by Application
9.1.2.3 Mexico: Online Recruitment Market – Revenue and Forecast to 2028 (US$ Million)
9.1.2.3.1 Mexico: Online Recruitment Market, by Job Type
9.1.2.3.2 Mexico: Online Recruitment Market, by Application
10. Impact of COVID-19 Pandemic on North America Online Recruitment Market
10.1 North America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Merger and Acquisition
11.2 New Development
12. Company Profiles
12.1 Glassdoor, Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 iPlaceUSA, Inc.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 itForte
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Info Edge (India) Ltd. (naukri.com)
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 LinkedIn Corporation
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 SH Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 StepStone GmbH
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. North America Online Recruitment Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. US: Online Recruitment Market, by Job Type –Revenue and Forecast to 2028 (US$ Million)
Table 3. US: Online Recruitment Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 4. Canada: Online Recruitment Market, by Job Type –Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada: Online Recruitment Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 6. Mexico: Online Recruitment Market, by Job Type –Revenue and Forecast to 2028 (US$ Million)
Table 7. Mexico: Online Recruitment Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 8. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Online Recruitment Market Segmentation
Figure 2. North America Online Recruitment Market Segmentation – By Country
Figure 3. North America Online Recruitment Market Overview
Figure 4. Permanent Job Type Segment held the Largest Share of North America Online Recruitment Market
Figure 5. IT Segment held the Largest Share of North America Online Recruitment Market
Figure 6. US to Show Great Traction During Forecast Period
Figure 7. North America: PEST Analysis
Figure 8. Expert Opinion
Figure 9. North America Online Recruitment Software Market: Impact Analysis of Drivers and Restraints
Figure 10. North America Online Recruitment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. North America Online Recruitment Market Revenue Share, by Job Type (2020 and 2028)
Figure 12. Permanent: North America Online Recruitment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Part-Time: North America Online Recruitment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. North America Online Recruitment Market Revenue Share, by Application (2020 and 2028)
Figure 15. Finance: North America Online Recruitment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Sales and Marketing: North America Online Recruitment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Engineering: North America Online Recruitment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. IT: North America Online Recruitment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Others: North America Online Recruitment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. North America: Online Recruitment Market – Revenue and Forecast To 2028 (US$ Million)
Figure 21. North America: Online Recruitment Market Revenue Share, by Key Country (2020 and 2028)
Figure 22. US: Online Recruitment Market – Revenue and Forecast To 2028 (US$ Million)
Figure 23. Canada: Online Recruitment Market – Revenue and Forecast To 2028 (US$ Million)
Figure 24. Mexico: Online Recruitment Market – Revenue and Forecast To 2028 (US$ Million)
Figure 25. Impact of COVID-19 Pandemic on Market in North American Countries
- Glassdoor, Inc.
- Info Edge (India) Ltd. (naukri.com)
- iPlaceUSA, Inc.
- itForte
- LinkedIn Corporation
- SH Inc
- StepStone GmbH
- To understand the North America online recruitment market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America online recruitment market
- Efficiently plan M&A and partnership deals in North America online recruitment market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America online recruitment market
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region