- 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.
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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.
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