Market Trends of Talent Acquisition Software Industry
This section covers the major market trends shaping the Talent Acquisition Software Market according to our research experts:
Rising Use of Cloud-based Solutions
- According to Saven Technologies, Google Drive is the most used cloud storage service in the world, with an overall usage of around 94.44%, followed by Dropbox with 66.2%. Thus, the general use of cloud-based solutions is growing exponentially and will eventually help the talent acquisition software market grow in the coming years.
- As per the Flexera 2021 State of the Cloud Report data, around 92% of enterprises have a multi-cloud strategy, and 80% have a hybrid cloud approach. According to a survey by Flexjobs, 65% of remote employees said they intended to continue working from home, and 58% of them stated they would hunt for a new job if they had to return to the office. Only 2% said they would prefer to go back, while 11% claimed that remote work was unnecessary. Hence, the growing demand for working from home will considerably enhance the need for various cloud-based solutions.
- Cloud technology is a significant element for organizations in protecting vital data information. Organizations mainly use it for critical services, such as active/long-term retention, host disaster recovery as a service (DRaaS), storing files on a short-term basis, backup PCs and other end-user devices, SaaS applications protected with cloud backup, etc.
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The fastest rate of expansion is anticipated to be in Asia-Pacific.
- The talent acquisition software market is anticipated to grow at the fastest rate in the Asia-Pacific region, primarily due to the presence of major players and the region's adoption of advanced technologies. The growth of the electronics sector and semiconductor solutions in the Asia-Pacific region is likely to propel the market forward.
- The cloud computing market in China is expanding at the quickest rate in the world. China has been the early adaptor of cloud computing services. China is willing to embrace cloud services technology in every sector. Moreover, primary factors for large-scale adoption are the inclination of organizations toward SaaS-based offerings and the adoption of digital business strategies. According to Canalys, in 2021, the Chinese market scale of cloud infrastructure services surged by 45% to USD 27.4 billion.
- As per 451 Research, Cloud adoption in the Asia-Pacific region is in progress rapidly. More than 90% of regional businesses use or intend to use a multi-cloud environment. 52% of those either plan to use a fully integrated hybrid environment or are using it already. It allows them to establish consistency in security policies and reduce the total cost. Over 50% of enterprises focus on migrating workloads from their internal environments while deploying into a public cloud.
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