From the Wires
Research and Markets: The Global Recruitment Software Market to Reach US$1.6 Billion by 2015 Says Latest Study
By: Business Wire
Apr. 13, 2012 01:53 PM
Research and Markets (http://www.researchandmarkets.com/research/a0596058/global_recruitment) has announced the addition of the "Global Recruitment Software Market 2011-2015" report to their offering.
TechNavio's analysts forecast the Global Recruitment Software market to reach US$1.6 billion by 2015. One of the key factors contributing to this market growth is the intense competition for skilled candidates as a result of an aging workforce, declining tenure of employees, and increased globalization. The Recruitment Software market has also been witnessing the demand for cloud-based recruitment software. However, rapid evolution of new recruitment solutions or the enhancements of existing solutions has led end-users to delay software purchases which could pose a challenge to the growth of this market.
Key vendors dominating this market space include Taleo Corp., SuccessFactors Inc., Kenexa Corp., and Lumesse Ltd.
Commenting on the report, an analyst from TechNavio's Enterprise Applications team said, The continued consolidation of the market through mergers and acquisitions will drive the Global Recruitment Software market in the coming years. Also, mergers and acquisitions often result in higher market potential coupled with improved support and services with a larger customer base. It is estimated that in the coming years, the high-end of the market will consolidate and the middle to low-end of the market will expand.
According to the report, intense competition for skilled candidates is witnessed as a result of an aging workforce, declining tenure of employees, and increased globalization, which is driving the Global Recruitment Software market. In addition, few organizations have systematized best practices for talent acquisition and have implemented software applications to support recruitment processes. Hence, with the pursuit for advanced recruitment process, there is a growing need for these software, which provide a wide array of benefits such as revenue growth and eliminate expenses.
Further, the report also discusses that one of the main challenges that recruitment software vendors face is the reduction in IT-related spend of end-users.
For more information visit http://www.researchandmarkets.com/research/a0596058/global_recruitment
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