Introduction
Video Interviewing Software Market to reach USD 708.93 Million by 2030 with a CAGR of 13.90%. Growth in Global Video Interviewing Software Market. Video interviewing software has been pivotal during the pandemic by facilitating remote candidate interviews and work meetings.
The report evaluates the global video interview software market. The report analyzes market segments, trends, drivers, restraints, competition, and critical factors.
Overview of Video Interviewing Software Market
Video interviewing software market is growing due to COVID-19. This interview scheduling software is vital for remote interviews and virtual work meetings. It connects with global candidates and avoids limiting to local talent. Video interviewing software saves time and costs compared to in-person interviews.
Assesses candidates' language skills and fluency beyond resume limitations by listening to them speak. Video interviewing software is different from traditional communication tools or phone calls. It offers different interviews such as async, structured, team sync, and ATS integration. Asynchronous interviews use pre-recorded questions with flexible response recording.
Structured interviews use predetermined questions to assess candidates through recorded answers. Team sync allows collective review of candidate interviews and recordings, promoting collaborative decision-making.
Computer-based software streamlines the interview process and facilitates identifying top candidates. Integrating video interviewing software with ATS streamlines hiring management. Global video interviewing software market to flourish due to adoption and hiring process streamlining.
Segmentation Analysis: Video Interviewing Software Market
Demand for Interview as a service boosts industry growth. However, the global Video Interviewing Software Market is Segmented by Type, Application, and Geography.
1. By Type: Cloud-Based and Web-Based
Cloud-based and web-based solutions make up the Global Video Interviewing Software Market. Throughout the forecast, the cloud-based segment will dominate. AI and chatbot technologies in hiring explain this dominance.
Cloud-based video interviewing software also secures applicant connections for greater flexibility and reliability. Therefore, cloud-based video interviewing software has improved interviewing.
2. By Application: Large Enterprises and SMEs
Large corporations and SMEs make up the Video Interviewing Software Market. In 2022, SMEs dominated the market. As SMEs seek efficient client and customer communication, video interviewing software demand has increased.
Video interviewing software saves SMEs money and time. In developing and industrialized countries, SMEs are rising rapidly due to capital expenditure. This tendency will boost the Video Interviewing Software Market.
3. By Geography: North America, Ee, Asia Pacific, Latin America, and Middle East & Africa
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa comprise the Global Video Interviewing Software Market. North America buys most video interviewing software.
Growing urbanization, modernization, personal discretionary income, and demand for video interviewing software from many industries, particularly the IT industry, boost the region's growth.
COVID-19 Impact on Video Interview Industry
COVID-19 forced companies to digitize hastily, but there were successes. Demand for video interview platforms is surging as companies embrace remote hiring and see the convenience and efficiency they provide in evaluating candidates.
Remote office and conference software saw daily users soar from 10 to 200 million. The one-stop interview services boost the Internet and many services' roles.
During the epidemic, travel was restricted, and corporate operations were affected. So, there were no physical events due to COVID-boosted video interviews.
Recruitment methods are evolving with Internet technology, creating new modes. During COVID, the video interview software market thrived. During the epidemic, video interviews were popular with companies due to their efficiency and safety.
In Summary
Video interviewing software has grown rapidly due to COVID-19. It's now essential for remote hiring and work meetings. The software has different interview types, including asynchronous, structured, team sync, and ATS integration.
The market is split into cloud-based and web-based solutions, with cloud-based dominating due to AI and chatbot integration. Market segmented by application (large enterprises and SMEs), with SMEs driving video interviewing software demand.