Video Interviewing Software Market worth USD 838.41 million by 2033

The Market Statsville Group (MSG) publishes the new report on the "Video Interviewing Software Market by Type, by Application (Large Enterprises and SMEs), By Region – Global Share and Forecast to 2033

According to the Market Statsville Group (MSG), the global video interviewing software market size is expected to grow from USD 236.34 million in 2022 to USD 838.41 million by 2033, at a CAGR of 12.20% from 2023 to 2033.

The adoption of video interviewing in the hiring process has shifted the organizations and candidates’ dependency towards the ease of technologies in the market. With six in 10 companies adopting video interviews, via the internet results a positive impact on the modern hiring process. Video interview has a wide scope for both small and large companies as it saves time and can make candidates feel more comfortable as interviewing in their familiar setting. This option also helps employers to recruit suitable candidate for the responsible task regardless of location. The video interviewing further helps the environment by reducing employers’ carbon footprint through eliminating the need for travel, and a paperless recruitment process which can deliver an experience that’s more in tune with the preferences of digital-savvy talent.

Industrialization and investments from established markets are tremendously having their traction in emerging economies which leads to high job opportunities and huge candidate lists to the organizations which may be a hectic recruitment process and takes a lot of time. In additional, companies need to strengthen their brand by hiring candidates with exceptional professional skills, and so, video interviewing software is becoming increasingly popular in the recruitment process. This will boost the market growth over the forecast period. On the other hand, Availability of substitutes coupled with issues regarding internet connectivity is likely to inhibit the market growth of the video interviewing software globally. Moreover, advancements in the 5G communication technology and commercialization efforts are also a huge opportunity for the market over the period.

Global Video Interviewing Software Market Segmentation

The overall video interviewing software market has been segmented into type, application, indication, and region.

• By Type (Web Based, Cloud Based)
• By Application (Large Enterprises, SMEs)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Cloud Based segment is at the highest CAGR during the forecast period

Cloud Based segment is expected to grow at the highest CAGR during the forthcoming period as it allows candidates to conduct interviews at any time and from any location by completing a series of questions. These sorts of interviews are growing more popular since they enable businesses to find applicants faster by providing more relevant information than a screening call. Using live video interview services, recruiters may conduct real-time and online interviews with prospects from anywhere in the globe. In video interviewing software, chatbots, artificial intelligence (AI), and interview scheduling software are widely employed. These elements might boost industrial expansion.

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The Asia Pacific to account for the highest CAGR during the forecast period

Over the forecast period, the Asia Pacific market is expected to grow rapidly. Due to the high population in the countries such as India and China. Asia pacific will witness a high job opportunity in the upcoming period due to this population and less expenses. Many companies are migrating in this region to capture the market. This will create huge opportunities for the market to grow in this region.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the video interviewing software market. It also consists of the profiles of leading companies such as  Spark Hire, HireVue, Shine, Yello, Skeeled, RecRight, Montage, HackerRank, BreezyHR, RIVS, Jobvite, Jobsoid, MeetFox, Vervoe, Zenkigen Inc, Interviewstream, VidCruiter, AllyO, f6s Network Limited and myInterview. The key players' growing research and development activities for launching innovative healthcare devices with advanced features and strategic unions are expected to drive market growth.

About Market Statsville Group

Market Statsville Group (MSG) is a business research and consulting platform of Statsville Consulting Private Limited, based in Oklahoma, USA. MSG is the leading market research and strategy builder with the depth and breadth of solutions that perfectly suit your every need. MSG provides solutions in a wide range of industry verticals in market sizing, analysis, and intelligent business insights. MSG has experienced research analysts who are proficient at digging deep and providing various customizable data that help you make decisions with clarity, confidence, and impact. Furthermore, Market Statsville Group already benefited more than 1,000 companies each year for their revenue planning. It helped them take their disruptions/innovations early to the market by providing them research ahead of the curve.

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