Cloud Technology Fuels Video Interviewing Software Market Growth by 2030

According to our latest study on "Video Interviewing Software Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis - by Type, Enterprise Size, and Industry," the video interviewing software market size is expected to reach US$ 891.86 million by 2030 from US$ 250.06 million in 2022, at an estimated CAGR of 17.2% from 2022 to 2030.

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Use of Social Analytics for Data Screening and Increasing Demand in Asia Pacific to Provide Lucrative Opportunities for Video Interviewing Software Market Growth During Forecast Period
The introduction of social networks and other digital profiles has exposed a much greater pool of candidates to recruiters. The time required to evaluate such a vast number of candidates compels organizations to adopt high-quality analytics systems for making better business choices. The rate of industrialization is stupendous in APAC countries. Along with large enterprises that are expanding their businesses in the region, SMEs with higher capital investments are increasingly adopting video interviewing software tools. Countries such as China, Japan, South Korea, India, Taiwan, and Singapore-which are home to numerous large enterprises and SMEs-are open to implementing advanced technologies.

Traditionally, enterprises in these countries use virtual private networks (VPN) to interact among teams or clients. With the evolution of video interviewing software tools, many of them are switching to advanced solutions. For example, Interviewer.AI is video recruiting software that uses interpretable AI to screen and select candidates, bringing out the best talent for vacant job profiles. Smart online video interviewing software cuts unnecessary pre-interview time, giving employers more time to focus on what is pivotal to their businesses. This software is powered by modern AI recruitment technology, which assists in analyzing the key attributes and achievements of potential candidates, including psychological and technical aspects. Thus, implementation of social analytics tools and elevating adoption of video interviewing software in APAC countries are expected to create significant opportunities for companies in the video interviewing software market growth.

Key Findings of Video Interviewing Software Market Study:
The video interviewing software market is segmented on the basis of type, enterprise size, industry and geography. Based on type, the video interviewing software market is segmented into web-based and mobile apps. Based on enterprise size, the video interviewing software market is bifurcated into small and medium enterprises and large enterprises. Based on industry, the video interviewing software market is segmented into IT & telecom, manufacturing, BFSI, healthcare, and others. By geography, the video interviewing software market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

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Based on type, the video interviewing software market is segmented into web-based and mobile apps. The web-based segment held the largest share in the video interviewing software market in 2022. The advent of web-based technology has greatly reduced the operating costs of companies. Web-based video interviewing software systems are easy to install and run. Web-based technology offers immense potential for video interviewing software market players as companies are more inclined toward advanced solutions than traditional technology. The availability of ample web-based video interviewing software is catalyzing the video interviewing software market growth for the web-based segment.

Spark Hire, HireVue, Shine, and Yello are among the leading players providing web-based video interviewing software. These solution providers plan to sell their products to large and small and medium-sized enterprises. Owing to the advantages such as easy implementation and cost-effectiveness, the demand for web-based video interviewing software is increasing.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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