The Sweden Recruitment Software Market is expected to grow at a compound annual growth rate of 5.82% over the analyzed period to reach a market size of US$18.165 million in 2026 from US$12.224 million in 2019. The prime reason driving the growth in the market is mushrooming corporate sector, along with the surging quantum of start-ups, requiring a better recruitment process. Moreover, booming cloud computing and Artificial Intelligence (AI) technology has incorporated major operations, including the recruitment process. Furthermore, the coronavirus pandemic has skyrocketed the demand for online recruitment software. To curb the spread of the virus, the Sweden government incorporated lockdown and physical shutdown, shifting whole business operations to online channels. Since offline recruitment disappeared, companies relied on the online mode by employing online recruitment channels and software. The companies in Sweden's recruitment software development market are also innovating to compensate for the absence of offline channels and visible recruitment. The partnership between Swedish Varbi with Dutch Flipbase to inculcate Flipbase video technology in Varbi’s recruitment software is a prime example of development in the Sweden recruitment software market.
Cloud-based Sweden recruitment software is anticipated to hold a significant market share in the forecasted period
Based on the development model, the Sweden recruitment software market is segmented into on-premise and cloud recruitment software. Cloud-based Sweden recruitment software is estimated to grow at an exponential rate owing to the increasing employment of cloud computing in operations. As per the data provided by the Swedish Government, this sector contributes 22.2% towards the GDP and employs around 17.7% of the workforce. Moreover, major business firms, such as H&M, Ikea, Volvo, and others employ cloud-based recruitment software as it makes the recruitment process easier, more accountable, and flexible.
The Healthcare sector is predicted to grow at a noteworthy rate owing to the outbreak of the coronavirus
Based on End-Users, the market is segmented into BFSI, Healthcare, Education, Communication and Technology, Entertainment and Media, and others. The outbreak of coronavirus pandemic is estimated to play a significant positive role in the employment of recruitment software in the Sweden Healthcare sector. The pandemic surged the recruitment of healthcare professionals. These vacancies can be timely and easily filled with the help of recruitment software, especially with the employment of candidate relationship management or CRM software. CRM software stores the information of prospective suitable candidates and enables contacting them as soon as there is a vacancy in the organization. This software has a huge potential in the healthcare sector as vacancies in this sector can prove to be fatal.
Based on development mode, the market is segmented into application tracking software, candidate relationship management, and others. By enterprise size, the market is segregated as small, medium, and large enterprises.