Recruitment Chatbot Market: Introduction
- Recruitment chatbot, also known as conversational agent, is a type of software designed to mimic human conversational abilities during the recruiting process. A recruitment chatbot is a platform that uses numerous digitized dialogs in order to create live communication through instant messengers. Recruitment chatbots are employed to convey assured information to a large number of applicants in order to provide answers to questions, or to gather specific information from the candidates. Furthermore, recruitment chatbots are used by HR teams in organizations or enterprises to reduce the time taken for the entire recruitment process.
- The COVID-19 outbreak has been the main catalyst for the growth and adoption of recruitment chatbots. Universities, commercial enterprises, and governments across the world are presently focusing on adoption of recruitment chatbots due to the outbreak of the pandemic. This is expected to enhance the demand for recruitment chatbot. Furthermore, recruitment chatbot is utilized by organizations or enterprises to recruit both candidates and employers in the current COVID-19 situation.
Global Recruitment Chatbot Market: Market Dynamics
- Rise in demand for funnel recruiting activities across small & medium and large enterprises across both developed and developing countries is projected to drive the recruitment chatbot market
- Increase in adoption of Artificial Intelligence (AI), Internet of Things (IoT), and Machine Learning (ML) enables job seekers and employees to communicate through a conversational UI via SMS and websites. This, in turn, is expected to drive the demand for recruitment chatbot across the world. Moreover, rise in adoption of trending technologies, such as AI and ML, benefits both candidates and recruiters, which is estimated to propel the recruitment chatbot market.
- A lack of standardization in how people interact is a key factor hampering the recruitment chatbot market
North America to Account for Major Share of Global Recruitment Chatbot Market
- In terms of region, the global recruitment chatbot market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America is anticipated to lead the global recruitment chatbot market, due to various technological advancements and cutting-edge innovations in the U.S and Canada. This boosts the recruitment chatbot market in North America.
- The recruitment chatbot market in Asia Pacific is projected to hold a significant share due to the increase of small and medium-sized enterprises (SMEs) in developing countries such as India and China. Additionally, governments of developing countries in Asia Pacific are investing more on the adoption of recruitment chatbot, which in turn is anticipated to fuel the recruitment chatbot market across Asia Pacific.
Global Recruitment Chatbot Market: Competitive Landscape
Key Players Operating in the Global Recruitment Chatbot Market
Companies operating in the recruitment chatbot market are increasingly investing in research & development activities to introduce new and innovative techniques in order to provide recruitment chatbot software and platform. The recruitment chatbot market is highly fragmented with the presence of numerous manufacturers in both developed and developing regions. Key players operating in the global recruitment chatbot market are:
- Makerobos Innovation Labs
- Mantra Labs.
- Eightfold AI
- Humanly HR Inc.
- Symphony Talent, LLC.
- Mya Systems, Inc.
- Wade & Wendy, Inc.
- Leoforce, LLC.
- Brazen Technologies, Inc.
- Espressive, Inc.
Global Recruitment Chatbot Market: Research Scope
Global Recruitment Chatbot Market Segmentation, by Component
- Managed Service
- Professional Service
- Installation & Integration
- Support & Maintenance
- Training & Consulting
Global Recruitment Chatbot Market Segmentation, by Deployment
Global Recruitment Chatbot Market Segmentation, by End-user
- Commercial Enterprises
- Small & Medium Enterprise
- Large Enterprise
- Educational Institution
Global Recruitment Chatbot Market Segmentation, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
- Recruitment Chatbot Software
- Chatbots for recruiting
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.