Report : South & Central 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 & Telecom, Healthcare, Manufacturing, and Others)
At 12.4% CAGR, South & Central America Video Interviewing Software Market is Speculated to be worth US$ 20.26 million by 2030, says Business Market Insights
According to Business Market Insights' research, the South & Central America video interviewing software market was valued at US$ 7.97 million in 2022 and is expected to reach US$ 20.26 million by 2030, registering a CAGR of 12.4% from 2022 to 2030. Changing roles of recruiters and rising number of job applicants raising demand for time-efficient selection systems are among the critical factors attributed to the South & Central 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 candidate's 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 South & Central America video interviewing software market.
Based on type, the South & Central America video interviewing software market is bifurcated into web-based and mobile apps. The web-based segment held 84.5% share of South & Central America video interviewing software market in 2022, amassing US$ 6.73 million. It is projected to garner US$ 16.58 million by 2030 to expand at 11.9% CAGR during 2022-2030.
In terms of enterprise size, the South & Central America video interviewing software market is bifurcated into small and medium enterprises and large enterprises. The large enterprises segment held 82.2% share of South & Central America video interviewing software market in 2022, amassing US$ 6.55 million. It is projected to garner US$ 15.93 million by 2030 to expand at 11.8% CAGR during 2022-2030.
By industry, the South & Central America video interviewing software market is segmented into BFSI, IT & telecom, healthcare, manufacturing, and others. The IT & telecom segment held 39.7% share of South & Central America video interviewing software market in 2022, amassing US$ 3.16 million. It is projected to garner US$ 8.77 million by 2030 to expand at 13.6% CAGR during 2022-2030.
Based on country, the South & Central America video interviewing software market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 75.7% share of South & Central America video interviewing software market in 2022. It was assessed at US$ 6.03 million in 2022 and is likely to hit US$ 15.87 million by 2030, exhibiting a CAGR of 12.9% during 2022-2030.
Key players operating in the South & Central America video interviewing software market are Mercer LLC, Interviewer.AI, Aon plc., Avature, and Zoho, among others.
- In July 2020, Avature Released Video Solution for Recruiting and Talent Management.
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