Global Video Interviewing Platforms Market: Introduction
Video interviewing platforms are communication platforms that enable the process of interviewing virtually or remotely through video calling. According to a report titled 2018 Growth Hiring Trends in the United States, 85% of the 500 respondents intended to improve quality of hire in the year 2019. Video interviews are majorly of two types: live and one-way. The platform mainly helps hiring teams to connect with and hire the best talent, while reducing cost and time to hire.
COVID-19 Impact on the Global Video Interviewing Platforms Market
The COVID-19 pandemic is expected to positively impact the global video interviewing platforms market. Demand for video interviewing platforms such as Zoom Meeting, and Skype Business has increased exponentially due to remote working and the virtual hiring process within organizations. On the other hand, privacy issues in video conferencing has hindered the growth of adoption of the platform.
Global Video Interviewing Platforms Market – Dynamics
Reduction in the Overall Hiring Cost Driving the Video Interviewing Platforms Market
The scope of interviewing a large pool of candidates increases and on the other hand the overall hiring cost to the company reduces to a large extent with the video interviewing platform. Major benefits to video interviewing includes reduction in travel costs, effective screening, and reduced administrative issues of trying to schedule interviews, especially if managers in different locations are conducting the interviews. The reduction in overall cost and improved scheduling is driving the demand for video interviewing platforms.
Lack of Communication Infrastructure Hindering the Video Interviewing Platforms Market
Although the demand for video interviewing platforms has increased due to remote working and it has reduced the overall cost, there are problems with regards to network and communication services in Asia Pacific and South American countries. Network infrastructure and communication services within rural and semi urban areas in these regions is below the global average, which is hampering the demand for video interviewing platforms.
North America to Dominate the Global Video Interviewing Platforms Market
In terms of region, the global video interviewing platforms market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the video interviewing platforms market during the forecast period due to strong network and communication infrastructure within this region in comparison to other regions across the globe. North America was already the fastest adopter of remote working, which has driven the demand for video interviewing platforms in the region
Global Video Interviewing Platforms Market – Competition Landscape
- In January 2020, Talview and LinkedIn Talent Hub formed a partnership to put AI-powered live video interviewing inside the new Applicant Tracking System (ATS). The collaboration will allow users to interview candidates anytime, anywhere, assess coding, writing, speaking, soft skills, and even verify the authenticity of candidates through secure proctoring.
Global Video Interviewing Platforms Market: Segmentation
The global video interviewing platforms market can be segmented based on:
- Enterprise Size
Global Video Interviewing Platforms Market, by Component
Based on component, the global video interviewing platforms market can be divided into:
Global Video Interviewing Platforms Market, by Enterprise Size
In terms of enterprise size, the global video interviewing platforms market can be segregated into:
- Small & Medium Enterprise
- Large Enterprise
Global Video Interviewing Platforms Market, by Industry
In terms of industry, the global video interviewing platforms market can be segregated into:
- IT & Telecom
- Logistics & Transportation
Regional analysis of the global video interviewing platforms market includes:
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
- Live interviews
- Pre-Recorded Interviews
- Mobile Interviews
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.