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Europe Online Recruitment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Job Type and Application

Europe Online Recruitment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Job Type and Application

  • July 2021
  • 79 pages
  • ID: 6134650
  • Format: PDF
  • The Insight Partners

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The online recruitment market in Europe is expected to grow from US$ 7,384.59 million in 2021 to US$ 12,656.76 million by 2028; it is estimated to grow at a CAGR of 8.0% from 2021 to 2028. Combination of technologies in online recruitment is also bolstering the growth of the industry. Recruiters are constantly using HR automation software in their work. These integrated technology solutions aid in the identification, attraction, engagement, nurturing, and conversion of candidates into applicants. These tools streamline the recruiting process by automating it, making it more effective and quicker. AI is being used by a growing number of companies in their recruiting processes. Various solutions such as applicant tracking software, interviewing software, and candidate relationship management software are enhancing the overall online recruitment processes. To take optimum advantage of online recruitment, recruitment firms are implementing data analytics-driven solutions for their applicant tracking processes. Jobvite unveiled a data science strategy to power its HR product portfolio in January 2020. This program aims to ensure that company recruiters are given the best-fit applicants and that both candidates and recruiters are not wasting time. This data-driven approach combines various algorithms and data sources to cover both enterprise-wide recruiting preferences and employee recruiter preferences. To increase technology adoption in online recruitment processes, recruitment firms are forming several cutting-edge technology alliances. For example, Talview, an AI recruitment startup, announced in January 2020 that it had become an integration partner with LinkedIn’s Talent Hub applicant tracking system. Talview’s live interviewing services are now incorporated into the LinkedIn Talent Hub experience, allowing businesses to source, manage, and recruit applicants from a single source. Thus, the above-mentioned factors, coupled with the availability of various recruitment solutions in the global market, are influencing the adoption of online recruitment processes, thereby driving the market.

In Europe, the COVID-19 pandemic has a different impact on different countries, as only selective countries have witnessed the rise in the number of cases and subsequently attracted strict, as well as prolonged, lockdown periods or social isolation norms.However, Western European countries such as Germany, France, Russia, and the UK have seen a comparatively modest decrease in their growth activities because of the robust healthcare systems.

According to a new study from Eurostat, the European Union’s statistical office, the unemployment rate remained relatively constant from September to December in 2020, with an annual increase of 7.5% percent in 2020 compared to that of 6.5% in 2019. According to a Eurostat report In December 2020, 16 million men and women were unemployed, which indicates a surge of 2 million over that in the previous year. This had a negative impact on the European online recruitment market. However, with the declining COVID-19 cases across the country on average as well as manufacturing units, hospitality sector, and retail stores resuming their normal course of business have propelled the demand for employees across the European countries. This has led to the increase in recruitment across the region in many industries, thereby bolstering the online recruitment market growth.

The IT segment led the online recruitment market based on application type in 2020.Information technology, or IT, refers to the transfer or other use of data by computers or computer systems.

IT experts are responsible for a variety of activities.They test, develop, install, repair, or manage the hardware and software associated with complex computer systems in one or more locations.

In order to manage their diverse network of computer systems, some businesses employ a number of IT professionals from around the world.This encourages the adoption of online recruitment for IT professionals across organizations.

Main job profiles of IT professionals include cloud infrastructure architect, enterprise architect, IT systems architect, solutions architect, and technical architect. Various online recruitment companies, including itForte, Dice, Angel.co and Authentic Jobs, focus on only IT recruitment, which is ultimately drives the online recruitment market.
The overall Europe online recruitment market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining overview and forecast for the Europe online recruitment market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe online recruitment market. iPlaceUSA, Inc.; itForte; Info Edge (India) Ltd. (naukri.com); LinkedIn Corporation; SH Inc; and StepStone GmbH are among a few players operating in the Europe online recruitment market

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