The Video Interviewing Software Market size is expected to reach US$ 891.86 million by 2030 from 250.06 million in 2022, at an estimated CAGR of 17.2% from 2022 to 2030.
The Europe Video Interviewing Software Market is segmented into the Germany, UK, France, Italy, Russia and rest of Europe. Germany is estimated to hold the largest Video Interviewing Software Market share during the forecast period. Germany is considered to be the manufacturing hub in Europe, with the presence of large automotive manufacturers across the country. However, COVID-19 resulted in the temporary closure of all manufacturing industries, thereby negatively impacting the recruitment sector of the country. Unemployment in Germany increased by 25% in 2020 when compared to 2021. However, this increase has not been accompanied by a similar decline in employment, to which a massive expansion in short time works certainly contributed. However, the revival of economic activities across the country, including manufacturing units after Q3 2020, has increased the demand for recruitment, thereby contributing to the growth of the video interviewing software market.
Based on end user, the Video Interviewing Software Market is segmented into commercial, industrial, and residential. Based on industry, the video interviewing software market is segmented into automotive & transportation, BFSI, retail, IT & telecommunications, media & entertainment, and others. The IT & telecom segment held the largest share in the video interviewing software market in 2022. Video interviewing software in the IT & telecom sector helps perform management tasks via API (Application Programming Interface) , including task such as candidate, job interviews, resume searches, jobs, posts, and more. Perfect for start-ups and small businesses, this recruitment management software is supported on web apps and Android platforms. ApplicantStack is a modern HR system designed primarily for small businesses. It is an affordable and user-friendly software. It is an online applicant tracking and onboarding system that provides companies and agencies with a better way to hire employees. These factors result in the growth of the video interviewing software market for the IT & telecom segment.
Recruitment in the banking, financial services, and insurance (BFSI) sector requires a wide range of skill assessments, from basic certifications to analytical and communication skills. The BFSI sector is a key driver of the ongoing economic recovery. Over the past year and a half, it has rapidly taken over the technology and changed to adapt to new standards. The recovery of the industry combined with the demand for a new digital environment has significantly revived adoption trends in all industries of BFSI companies and their support systems, owing to the growth of the high recruitment in the sector, contributing to the high adoption of video interviewing software. In July 2023, according to EY estimates, India's Global Capability Centers (GCC) headcount was about 2 million, and it is estimated to hire 4.5 million employees by 2030. Thus, an increase in hiring process bolsters the adoption of video interviewing software in the BFSI sector.
InterviewME (pty) Ltd.; ClearCompany, Interviewstream; HireVue; Modern Hire, Jobvite, Inc.; Shine, Skeeled; Spark Hire; VidCruiter, and Yello are among the key Video Interviewing Software Market players that are profiled in this market study.
The overall Video Interviewing Software Market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Video Interviewing Software Market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Video Interviewing Software Market.
Reasons to Buy
The Europe Video Interviewing Software Market is segmented into the Germany, UK, France, Italy, Russia and rest of Europe. Germany is estimated to hold the largest Video Interviewing Software Market share during the forecast period. Germany is considered to be the manufacturing hub in Europe, with the presence of large automotive manufacturers across the country. However, COVID-19 resulted in the temporary closure of all manufacturing industries, thereby negatively impacting the recruitment sector of the country. Unemployment in Germany increased by 25% in 2020 when compared to 2021. However, this increase has not been accompanied by a similar decline in employment, to which a massive expansion in short time works certainly contributed. However, the revival of economic activities across the country, including manufacturing units after Q3 2020, has increased the demand for recruitment, thereby contributing to the growth of the video interviewing software market.
Based on end user, the Video Interviewing Software Market is segmented into commercial, industrial, and residential. Based on industry, the video interviewing software market is segmented into automotive & transportation, BFSI, retail, IT & telecommunications, media & entertainment, and others. The IT & telecom segment held the largest share in the video interviewing software market in 2022. Video interviewing software in the IT & telecom sector helps perform management tasks via API (Application Programming Interface) , including task such as candidate, job interviews, resume searches, jobs, posts, and more. Perfect for start-ups and small businesses, this recruitment management software is supported on web apps and Android platforms. ApplicantStack is a modern HR system designed primarily for small businesses. It is an affordable and user-friendly software. It is an online applicant tracking and onboarding system that provides companies and agencies with a better way to hire employees. These factors result in the growth of the video interviewing software market for the IT & telecom segment.
Recruitment in the banking, financial services, and insurance (BFSI) sector requires a wide range of skill assessments, from basic certifications to analytical and communication skills. The BFSI sector is a key driver of the ongoing economic recovery. Over the past year and a half, it has rapidly taken over the technology and changed to adapt to new standards. The recovery of the industry combined with the demand for a new digital environment has significantly revived adoption trends in all industries of BFSI companies and their support systems, owing to the growth of the high recruitment in the sector, contributing to the high adoption of video interviewing software. In July 2023, according to EY estimates, India's Global Capability Centers (GCC) headcount was about 2 million, and it is estimated to hire 4.5 million employees by 2030. Thus, an increase in hiring process bolsters the adoption of video interviewing software in the BFSI sector.
InterviewME (pty) Ltd.; ClearCompany, Interviewstream; HireVue; Modern Hire, Jobvite, Inc.; Shine, Skeeled; Spark Hire; VidCruiter, and Yello are among the key Video Interviewing Software Market players that are profiled in this market study.
The overall Video Interviewing Software Market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Video Interviewing Software Market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Video Interviewing Software Market.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the video interviewing software market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations such as specific country and segmental insight highlights crucial progressive industry trends in the 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 market trends and outlook coupled with the factors driving the 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
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Video Interviewing Software Market Landscape
5. Video Interviewing Software Market - Key Industry Dynamics
6. Video Interviewing Software Market - Global Market Analysis
7. Video Interviewing Software Market Analysis - Type
8. Video Interviewing Software Market Analysis - Enterprise Size
9. Video Interviewing Software Market Analysis - Industry
10. Video Interviewing Software Market - Geographical Analysis
11. Video Interviewing Software Market - Impact of COVID-19 Pandemic
12. Competitive Landscape
13. Industry Landscape
14. Company Profiles
15. Appendix
Companies Mentioned
- INTERVIEWME (PTY) LTD
- VidCruiter
- ClearCompany
- HireVue
- Shine
- Interviewstream
- Spark Hire
- Jobvite
- Skeeled
- Wimly
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 164 |
| Published | September 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 250.06 Million |
| Forecasted Market Value ( USD | $ 891.86 Million |
| Compound Annual Growth Rate | 17.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
