North America Video Interviewing Software Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Web-Based and Mobile Apps), Enterprise Size [Small and Medium Enterprises (SMEs) and Large Enterprise], and Industry (BFSI, IT and Telecom

North America Video Interviewing Software Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Web-Based and Mobile Apps), Enterprise Size [Small and Medium Enterprises (SMEs) and Large Enterprise], and Industry (BFSI, IT and Telecom, Healthcare, Manufacturing, and Others)    

The video interviewing software market in North America is expected to grow from US$ 105.80 million in 2022 to US$ 216.46 million by 2028. It is estimated to grow at a CAGR of 12.7% from 2022 to 2028.
Rising Preference for Video Interviews in Recruitment Process
Recruiting the best talent is becoming tougher with the growing competitive streak among candidates. Companies focus on building and maintaining their brand image by hiring candidates with good professional skills, and video interviewing helps them to achieve this target. They need to analyze their recruiting strategies and update their procedures to make the recruitment process more effective. Video interviews make the whole recruiting process simpler, smoother, and more comfortable and flexible for recruiters and applicants. Many organizations are using video interviewing tools for the initial screening of candidates to save time and money, and the preference for this process has increased during the COVID-19 pandemic amid subsequent travel restrictions. In the recruiting process, many organizations are introducing video interviewing programs to evaluate applicants based on their CV (knowledge and experience) and abilities. This approach decreases the overall time spent on each candidate, thereby allowing employers to review more applicants during the same time window and decreasing the expense of the recruitment process. Furthermore, to make better recruiting decisions, strengthening teamwork within the recruiting department is also important. Video interview software help staff members share their thoughts throughout the process; they could access, rate, and comment on video recordings, at their leisure, and then compare candidates. This makes the decision-making process more transparent and collaborative, and easier and smoother, further reducing individual accountability.
While video interviewing is not meant to replace interviews conducted in person, it can be a good tool to use when office visits are not possible. Video interviewing software simplify the process of scheduling interviews by eliminating excess screening stages. Virtual interviews aid in supplementing quantitative data obtained from other assessments. Video interviews can significantly reduce recruitment costs as they save efforts taken on manual screening. According to RecRight, companies are 2.7-times more likely to improve their cost-per-hire using video interviewing software. Thus, the monetary and operational benefits of video interviewing tools drive the market growth.

Market Overview

The US, Canada, and Mexico contribute greatly to the North America video interviewing software market. The US is an advanced country in terms of modern infrastructure and technology. Technological developments in North America have led to highly competitive markets. The region is home to several technological giants that invest heavily in developing robust technologies. A large number of successful video interviewing software providers and emerging video interviews are key drivers of the video interviewing software market in the region.
The demand for software for video interviews among large companies and SMEs is increasing rapidly. From the perspective of the manufacturing sector, the US, Canadian, and Mexican governments are adopting policies to promote the setting up of new production facilities. This has led to an increase in the number of production facilities and forced them to opt for software for video interviews to ensure effective communication between an interviewer and a candidate. The surge in production facilities in North America, thus, generates substantial demand for software for video interviews and, hence, catalyzes the video interviewing software market.
The humongous corporate sector in North America has a large number of technology developers, support services firms, and BPOs/KPOs operating. IT department invest heavily in virtual interviewing rooms, using audiovisual technology to improve the work environment and optimize productivity. In addition, the developments in web-based technology place considerable demand on their product, which is supported by this technology, for the video interviewing market players in this region.
The main drivers of the North America video interviewing software market are the increasing use of cloud-based solutions, low implementation and maintenance costs, and a growing desire to simplify the hiring process. Additionally, with the increased usage of mobile phones in the office, the market acceptance of mobile phone-based solutions has also increased. However, the rise in data security and privacy concerns is expected to curb the growth in this market over the next few years.
North America Video interviewing software Market Revenue and Forecast to 2028 (US$ Million)

North America Video interviewing software Market Segmentation

The North America video interviewing software market is segmented into type, enterprise size, industry, and country.
Based on type, the video interviewing software market is segmented into web-based and mobile apps. The web-based segment accounted for a larger market share in 2022.
Based on enterprise size, the video interviewing software market is segmented into small and medium enterprises (SMEs) and large enterprises. The large enterprises segment registered the largest market share in 2022.
Based on industry vertical, the North America video interviewing software market is segmented into IT and telecom, manufacturing, BFSI, healthcare, and others. The IT and telecom segment held the largest market share in 2022.
Based on country, the market is segmented into the US, Canada, and Mexico. The US dominated the market share in 2022.
Breezy HR, Inc., ClearCompany, HireVue, Inc., Interviewstream, Jobvite, Inc, Modern Hire, Spark Hire, VidCruiter Inc., and Yello are the leading companies operating in the video interviewing software market in the region.

Reasons to buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America video interviewing software market
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the North America video interviewing software market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth North America market trends and outlook coupled with the factors driving the video interviewing software market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution