North America Video Interviewing Software Market Forecast to 2030
North America Video Interviewing Software Market Forecast to 2030 – Regional Analysis – by Type (Web-Based and Mobile Apps), Enterprise Size (Small and Medium Enterprises and Large Enterprises), and Industry (BFSI, IT and Telecom, Healthcare, Manufacturing, and Others)
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Description
Growing Preference for Video Interviews in Recruitment Process fuel the North America Video Interviewing Software Market
Recruiting the best talent is becoming tougher with the growing competitive streak among candidates. Companies focus on building and maintaining their brand image by hiring candidates with good professional skills, and video interviewing helps them to achieve this target. Companies need to analyze their recruiting strategies and update procedures to make recruitment effective. Video interviews make the whole recruiting process simple, smooth, comfortable, and flexible for recruiters and applicants. Many organizations are using video interviewing tools for the initial screening of candidates to save time and money, and the preference for this process has increased during the COVID-19 pandemic amid subsequent travel restrictions. In the recruiting process, many organizations are introducing video interviewing programs to evaluate applicants based on their CV (knowledge and experience) and abilities. This approach decreases the overall time spent on each candidate, thereby allowing employers to review more applicants during the same time window and decreasing the expense of the recruitment process. Furthermore, to make better recruiting decisions, strengthening teamwork within the recruiting department is also important. Video interview software help staff members share their thoughts throughout the process; they could access, rate, and comment on video recordings, at their leisure and then compare candidates. This makes the decision-making process transparent, collaborative, easier, and smoother, further reducing individual accountability.
While video interviewing is not meant to replace interviews conducted in person, it can be a good tool to use when office visits are not possible. Video interviewing software simplifies the process of scheduling interviews by eliminating excess screening stages. Virtual interviews aid in supplementing quantitative data obtained from other assessments. Video interviews can significantly reduce recruitment costs as they save efforts taken on manual screening. According to RecRight, companies are 2.7 times more likely to improve their cost-per-hire using video interviewing software. Thus, the monetary and operational benefits of video interviewing tools drive the video interviewing software market growth.
North America Video Interviewing Software Market Overview
The US, Canada, and Mexico contribute greatly to the North America video interviewing software market. Technological developments in North America have led to highly competitive markets. The region is home to several technological giants that invest heavily in developing robust technologies. A large number of successful video interviewing software providers and emerging video interviews are key drivers of the video interviewing software market in the region.
North America Video Interviewing Software Market Revenue and Forecast to 2030 (US$ Million)
North America Video Interviewing Software Market Segmentation
The North America video interviewing software market is segmented based on type, enterprise size, industry, and country. Based on type, the North America video interviewing software market is bifurcated into web-based and mobile apps. The web-based segment held a larger market share in 2022.
Based on enterprise size, the North America video interviewing software market is bifurcated into small and medium enterprises and large enterprises. The large enterprises segment held a larger market share in 2022.
Based on industry, the North America video interviewing software market is segmented into BFSI, IT and telecom, healthcare, manufacturing, and others. The IT and telecom segment held the largest market share in 2022.
Based on country, the North America video interviewing software market is segmented into the US, Canada, and Mexico. The US dominated the North America video interviewing software market share in 2022.
Employ Inc., Spark Hire, VidCruiter, InterviewME (pty) Ltd., ClearCompany, HireVue, and Interviewstream are some of the leading players operating in the North America video interviewing software market.
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According to the Research Team’ research, the North America video interviewing software market was valued at US$ 107.40 million in 2022 and is expected to reach US$ 351.78 million by 2030, registering a CAGR of 16.0% from 2022 to 2030. Growing preference for video interviews in recruitment process, high demand for video interviewing software due to COVID-19 pandemic and rising number of job applicants raising demand for time-efficient selection systems are the critical factors attributed to the North America video interviewing software market expansion.
Position of recruiter is changing rapidly in the business world, with an extending list of responsibilities. The use of video interviewing software is making recruiting tasks less cumbersome. The available automation and assistive AI technologies in purpose-built systems enable them to spend less time on administrative and repetitive recruitment tasks. This allows them to invest more time in strategic activities such as brand building and candidate engagement, alongside ensuring increased productivity. Further, video interviewing enables interviewers to keep records in digital format, thereby boosting process transparency and accuracy. In on-demand interviews, talent acquisition (TA) teams would offer the same question set in the same way to all applicants for a particular position. With recent developments such as on-demand text and virtual recruiters assisted by AI, purpose-built solutions are integrated to provide efficient output such as analytics graph, which can easily analyze applications. Additionally, video interviewing apps and software that can be installed on mobile devices are also gathering significant traction. Most organizations use an Applicant Tracking System (ATS) to store and record information about each candidate. They choose a video interview tool that can be integrated with their ATS. It allows them to record each video interview on the candidates profile, which can further be reviewed by other members of the group. This will help companies eliminate the step of recording and uploading interview video to the systems that are in use to track candidates. Harver is a complete candidate screening platform with a video interview module that allows companies to easily implement asynchronous virtual interviews into their candidate screening process. Recorded video interviews can be combined with other Harver assessments, allowing the organization to evaluate every candidate aspect, from cognitive ability to cultural adaptability.
On the contrary, issues with internet connectivity and potential frauds hurdles the growth of North America video interviewing software market.
Based on type, the North America video interviewing software market is bifurcated into web-based and mobile apps. The web-based segment held 73.9% share of North America video interviewing software market in 2022, amassing US$ 79.37 million. It is projected to garner US$ 246.05 million by 2030 to expand at 15.2% CAGR during 2022-2030.
Based on enterprise size, the North America video interviewing software market is bifurcated into small and medium enterprises and large enterprises. The large enterprises segment held 65.6% share of North America video interviewing software market in 2022, amassing US$ 70.47 million. It is projected to garner US$ 214.22 million by 2030 to expand at 14.9% CAGR during 2022-2030.
Based on industry, the North America video interviewing software market is categorized into BFSI, IT and telecom, healthcare, manufacturing, and others. The IT and telecom segment held 36.4% share of North America video interviewing software market in 2022, amassing US$ 39.14 million. It is projected to garner US$ 147.40 million by 2030 to expand at 18.0% CAGR during 2022-2030.
Based on country, the North America video interviewing software market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 69.0% share of North America video interviewing software market in 2022. It was assessed at US$ 74.16 million in 2022 and is likely to hit US$ 253.55 million by 2030, exhibiting a CAGR of 16.6% during 2022-2030.
Key players operating in the North America video interviewing software market are Employ Inc., Spark Hire, VidCruiter, InterviewME (pty) Ltd., ClearCompany, HireVue, and Interviewstream, among others.
– In Sep 2020, Jobvite, Inc. a brand of Employ Inc acquired award-winning talent analytics platform Talentegy.
– In May 2021, Spark Hire Launches Integration in BambooHR Marketplace to Help SMBs Hire the Best.
o Highlights key business priorities in order to assist companies to realign their business strategies
o The key findings and recommendations highlight crucial progressive industry trends in the North America video interviewing software market, thereby allowing players across the value chain to develop effective long-term strategies
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
o Scrutinize in-depth North America market trends and outlook coupled with the factors driving the video interviewing software market, as well as those hindering it
o 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
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Video Interviewing Software Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.3 Premium Insights
4.3.1 Positioning Map
5. North America Video Interviewing Software Market – Key Industry Dynamics
5.1 North America Video Interviewing Software Market – Key Industry Dynamics
5.2 Market Drivers
5.2.1 Growing Preference for Video Interviews in Recruitment Process
5.2.2 High Demand for Video Interviewing Software Due to COVID-19 Pandemic
5.2.3 Rising Number of Job Applicants Raising Demand for Time-Efficient Selection Systems
5.3 Market Restraints
5.3.1 Issues with Internet Connectivity and Potential Frauds
5.3.2 Availability of Open-Source Video Interviewing Solutions
5.4 Market Opportunities
5.4.1 Introduction of Big Data
5.5 Future Trends
5.5.1 Changing Roles of Recruiters
5.5.2 Adoption of Cloud-Based Video Interviewing Solutions
5.6 Impact of Drivers and Restraints:
6. Video Interviewing Software Market – North America Market Analysis
6.1 Video Interviewing Software Market Revenue (US$ Million), 2022 – 2030
6.2 Video Interviewing Software Market Forecast and Analysis
7. North America Video Interviewing Software Market Analysis – Type
7.1 Web-Based
7.1.1 Overview
7.1.2 Web-Based Market, Revenue and Forecast to 2030 (US$ Million)
7.2 Mobile Apps
7.2.1 Overview
7.2.2 Mobile Apps Market, Revenue and Forecast to 2030 (US$ Million)
8. North America Video Interviewing Software Market Analysis – Enterprise Size
8.1 Small and Medium Enterprises
8.1.1 Overview
8.1.2 Small and Medium Enterprises Market, Revenue and Forecast to 2030 (US$ Million)
8.2 Large Enterprises
8.2.1 Overview
8.2.2 Large Enterprises Market, Revenue and Forecast to 2030 (US$ Million)
9. North America Video Interviewing Software Market Analysis – Industry
9.1 BFSI
9.1.1 Overview
9.1.2 BFSI Market Revenue, and Forecast to 2030 (US$ Million)
9.2 IT and Telecom
9.2.1 Overview
9.2.2 IT and Telecom Market Revenue, and Forecast to 2030 (US$ Million)
9.3 Healthcare
9.3.1 Overview
9.3.2 Healthcare Market Revenue, and Forecast to 2030 (US$ Million)
9.4 Manufacturing
9.4.1 Overview
9.4.2 Manufacturing Market Revenue, and Forecast to 2030 (US$ Million)
9.5 Others
9.5.1 Overview
9.5.2 Others Market Revenue, and Forecast to 2030 (US$ Million)
10. North America Video Interviewing Software Market – Country Analysis
10.1 North America
10.1.1 North America Video Interviewing Software Market Overview
10.1.2 North America Video Interviewing Software Market Revenue and Forecasts and Analysis – By Country
10.1.2.1 North America Video Interviewing Software Market Revenue and Forecasts and Analysis – By Country
10.1.2.2 US Video Interviewing Software Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.2.1 US Video Interviewing Software Market Breakdown by Type
10.1.2.2.2 US Video Interviewing Software Market Breakdown by Enterprise Size
10.1.2.2.3 US Video Interviewing Software Market Breakdown by Industry
10.1.2.3 Canada Video Interviewing Software Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.3.1 Canada Video Interviewing Software Market Breakdown by Type
10.1.2.3.2 Canada Video Interviewing Software Market Breakdown by Enterprise Size
10.1.2.3.3 Canada Video Interviewing Software Market Breakdown by Industry
10.1.2.4 Mexico Video Interviewing Software Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.4.1 Mexico Video Interviewing Software Market Breakdown by Type
10.1.2.4.2 Mexico Video Interviewing Software Market Breakdown by Enterprise Size
10.1.2.4.3 Mexico Video Interviewing Software Market Breakdown by Industry
11. Competitive Landscape
11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Merger and Acquisition
13. Company Profiles
13.1 Employ Inc.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Spark Hire
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 VidCruiter Inc.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 ClearCompany
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 HireVue, Inc.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 interviewstream
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 INTERVIEWME Ltd
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
14. Appendix
14.1 About the Research Team
14.2 Word Index
LIST OF TABLES
Table 1. North America Video Interviewing Software Market Segmentation
Table 2. North America Video Interviewing Software Market Revenue and Forecasts To 2030 (US$ Million)
Table 3. North America Video Interviewing Software Market Revenue and Forecasts To 2030 (US$ Mn) – By Country
Table 4. US Video Interviewing Software Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 5. US Video Interviewing Software Market Revenue and Forecasts To 2030 (US$ Mn) – By Enterprise Size
Table 6. US Video Interviewing Software Market Revenue and Forecasts To 2030 (US$ Mn) – By Industry
Table 7. Canada Video Interviewing Software Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 8. Canada Video Interviewing Software Market Revenue and Forecasts To 2030 (US$ Mn) – By Enterprise Size
Table 9. Canada Video Interviewing Software Market Revenue and Forecasts To 2030 (US$ Mn) – By Industry
Table 10. Mexico Video Interviewing Software Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 11. Mexico Video Interviewing Software Market Revenue and Forecasts To 2030 (US$ Mn) – By Enterprise Size
Table 12. Mexico Video Interviewing Software Market Revenue and Forecasts To 2030 (US$ Mn) – By Industry
Table 13. Heat Map Analysis By Key Players
Table 14. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Video Interviewing Software Market Segmentation, By Country
Figure 2. Ecosystem: North America Video Interviewing Software Market
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. North America Video Interviewing Software Market Revenue (US$ Million), 2022 – 2030
Figure 5. North America Video Interviewing Software Market Share (%) – Type, 2022 and 2030
Figure 6. Web-Based Market Revenue and Forecasts To 2030 (US$ Million)
Figure 7. Mobile Apps Market Revenue and Forecasts To 2030 (US$ Million)
Figure 8. North America Video Interviewing Software Market Share (%) – Type, 2022 and 2030
Figure 9. Small and Medium Enterprises Market Revenue and Forecasts To 2030 (US$ Million)
Figure 10. Large Enterprises Market Revenue and Forecasts To 2030 (US$ Million)
Figure 11. North America Video Interviewing Software Market Share (%) – Industry, 2022 and 2030
Figure 12. BFSI Market Revenue and Forecasts To 2030 (US$ Million)
Figure 13. IT and Telecom Market Revenue and Forecasts To 2030 (US$ Million)
Figure 14. Healthcare Market Revenue and Forecasts To 2030 (US$ Million)
Figure 15. Manufacturing Market Revenue and Forecasts To 2030 (US$ Million)
Figure 16. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 17. North America Video Interviewing Software Market, by Key Countries – Revenue (2022) (US$ Million)
Figure 18. Video Interviewing Software Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 19. US Video Interviewing Software Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 20. Canada Video Interviewing Software Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 21. Mexico Video Interviewing Software Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 22. Company Positioning & Concentration
The List of Companies – North America Video Interviewing Software Market
1. Employ Inc.
2. Spark Hire
3. VidCruiter
4. InterviewME (pty) Ltd.
5. ClearCompany
6. HireVue
7. Interviewstream
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