According to a new report published by KD Market Insights, titled, “Recruitment Market Insights, Trends, Opportunity & Forecast, 2021–2026,” the global recruitment market size is anticipated to witness steady growth during forecast period i.e. 2021-2026. The increasing global GDP, the growing industrialization across the globe giving rise to the number of companies and organizations in various industry sectors, the accelerating job openings and hiring, the increasing demand for skilled and professional workers are some of the primary factors contributing toward the growth of the global recruitment market.
The burgeoning number of mergers & acquisitions in different industries across the globe, the rising volume of industrial production, the increasing competition among the market players is poised to boost the growth of the recruitment market in the forthcoming years. Additionally, the continuously rising number of technological developments and introductions of new recruitment solutions by various companies in the recruitment industry giving rise to numerous internet recruitment platforms making it easier for applicants around the world to apply for jobs from anywhere around the world and the surging number of government based initiatives across several regions to promote recruitment in order to decline the rate of unemployment among their regions are anticipated to offer tremendous growth opportunities for the global recruitment market in the upcoming years. However, factors such as ageing workforce and the declining labor force participation are expected to hinder the growth of the recruitment market during the forecast years.
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The North American region dominated the recruitment market in 2020 followed by Europe and is expected to further continue with its dominance in the market during the forecast years.
According to staffing type, the temporary staffing segmented is expected to grow at the highest growth rate during the forecast period owing to the increasing trend of freelancing and on contract jobs.
The global recruitment market is segmented into staffing type, offering and region. Based on staffing type, the market is classified into temporary staffing, permanent staffing, employee leasing and others. Based on offering, it is classified into software, services and others.
The global recruitment market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).
Key Insights of Recruitment Market
- On the basis of staffing type, the temporary staffing segment is anticipated to witness the highest growth over the forecast period.
- On the basis of region, North America dominated the market in 2020 and is expected to continue with the trend during the 2021-2026 period.
Some of the major recruitment companies profiled in the report include ADP LLC, ManpowerGroup, Randstad Sourceright, Alexander Mann Solutions, Allegis Global Solutions, Future Step, Hays, Kelly, Outsourcing & Consulting Group, The Adecco Group and Randstad NV.
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