Global Programmatic Job Advertising Software Market 2022-2028

Global Programmatic Job Advertising Software Market 2022-2028

Global Programmatic Job Advertising Software Market Size, Share & Trends Analysis Report By End-User (BFSI, Education, Healthcare, It And Telecom, Retail And Others ) Forecast Period (2021-2028)

The global programmatic job advertising software market was valued at $197.1 million in 2021, which is projected to reach $416.5 million in 2028, growing at a CAGR of 11.3% during the forecast period. Companies are inclined towards programmatic job advertising as a powerful medium to promote open roles more efficiently and get quality applicants into their hiring funnels. The market growth is attributed to the rising demand for the skilled resources at a reduced cost and in a short span of time. Some of the significant benefits of the programmatic job advertising software which are driving the growth of the market include the requirement analysis, customized solutions based on specific hiring demand, cost-benefit, and time savings. The popularity of job advertising software is growing mainly due to the demand for customizable talent acquisition solutions by employers. In the current scenario, the employers are looking at simple hiring solutions and customized solutions based on specific hiring demands, to improve their branding and candidate/hiring personnel experience, which is resulting in an increased demand for the programmatic job advertising software.

A job advertising software acts as an extension of the HR function in a company, and aids in reducing the time and cost required for hiring new talent. The job advertising software facilitates necessary expertise, advanced technology, and techniques to provide a complete and holistic hiring solution. They offer services such as on-site, off-site, combinations of on and off-site which facilitates enhanced flexibility, improved candidate relevance, and quality, and transparency to the employers. The programmatic job advertising software aims at optimizing the entire recruitment process through streamlining the company operations/processes and focusing on long-term business strategy. The programmatic job advertising ensures that the most qualified job-seekers are targeted with the most relevant job ads on the right channels, at the right time and cost. All of this translates into recruitment with meaningful ROI (return on investment).All this planning reduces both cost and time for the employer, which eventually stimulates the demand for job advertising software.

Furthermore, the rising urbanization around the globe creates significant demand for jobs. The number of job applicants has been growing at a rapid pace, and it is expected to grow with the influx of more people from rural areas to urban areas. Selecting the most suitable candidate for a particular profile has become more tedious the conventional methods. Thus, the rapidly increasing rate of employment and the growing demand for a time-efficient solution in hiring is expected to contribute to the growth of the programmatic job advertising software market.

SEGMENT ANALYSIS

The report analyzes the global programmatic job advertising software market based on the end-user into BFSI, education, healthcare, IT and telecom, retail, and others (utilities). The IT & telecom category is projected to lead the market share during the forecast period, owing to the ever-growing nature of IT and increasing demand for skilled workers in the industry. BFSI is also expected to be a major category as the increasing adoption of cloud-based services in the industry is creating the need for more jobs.

IT & telecom industry dominated the market with 26.4% of the share and generated $51.9 million in 2021. This value is further projected to reach $103.3 million in 2028, growing at a CAGR of 10.3% during the forecast period. However, the IT & telecom sector is expected to be overtaken by BFSI by 2028. The market value generated by the BFSI sector in 2021 was $46.4 million, which is projected to reach $105.0 million in 2028, growing at a CAGR of 12.4% during the forecast period. Moreover, the healthcare segment is projected to grow at the highest CAGR of 12.9% during the forecast period. The increasing demand for acquiring and retaining skilled manpower is expected to aid in the growth of the market.

REGIONAL ANALYSIS

Geographically, the programmatic job advertising software market report is analyzed based on four major regions including North America (the US and Canada), Europe (UK, Germany, Italy, Spain, France, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and RoW. Asia-Pacific is estimated to be the fastest-growing market during the forecast period. The market in Asia-Pacific was valued at $37.6 million in 2021, which is projected to reach $88.8 million in 2028, growing at the fastest CAGR of 13.0% during the forecast period.

North America is anticipated to lead the market with 39.3% of the share and generated $77.5 million in 2021. This value is further projected to reach $157.4 million in 2028, growing at a CAGR of 10.7% during the forecast period. The regional growth is attributed to the presence of a well-established job industry and increasing demand from end-user industries. The adoption of such software is high in North America as most of the vendors are based in this region. The presence of major players such as Appcast, Inc., Joveo, Inc., and Talroo, Inc., among others, boost the regional growth of the market.

MARKET PLAYERS OUTLOOK

The study of the report further covers the analysis of various players operating in the market. Some of the key players covered in the report include Appcast Inc., Joveo, Inc., On Recruit, Smart Dreamers, Smart Recruiters, ClickIQ,Tarloo Inc., and others. The market players present in the programmatic job advertising software market are mainly focusing on the development of advanced and efficient products. By signing partnerships, contracts, joint ventures, funding, and inaugurating new offices across the globe permit, the company maintains its brand name.

In December 2021, Appcast announced the public launch of Appcast Premium, a comprehensive enterprise-managed service for optimizing a company’s entire digital job advertising program. Appcast Premium combines Appcast’s innovative programmatic technology with its team of experts in recruitment advertising to provide complete coverage across all leading job sites, helping companies find qualified people quickly.

In August 2021, Joveo announced its new partnership with the Recruitment Process Outsourcing Association (RPOA). This partnership will enable RPOA members to leverage Joveo’s programmatic job advertising technology. With this partnership, the RPOA’s audience will have access to Joveo’s deep recruitment marketing expertise, thought leadership, and data-driven industry insights. With this partnership, Joveo aims to bolster its market leadership in the global RPO community.

In May 2021, Appcast announced the launch of Xcelerate - the next generation of its job ad exchange, Appcast Exchange. The product ‘Xcelerate’ is available for use by employers and select recruitment advertising agencies in the US, Canada, and UK.

In July 2021, ClickIQ announced the acquisition of Recruitment Bot. Recruitment Bot offers recruiters an unparalleled and automated way of converting job seekers to applicants. Using natural language understanding, recruitment bot enables a candidate to ask a question in natural human language and get a humanized response immediately.