New York, NY (PRWEB) February 03, 2015
The Online Recruitment Sites industry experienced significant growth throughout the 2000s, until the onset of the recession hit and companies put hiring on hold, hurting demand for industry services. However, the industry was quick to rebound following the recession. According to IBISWorld Industry Analyst Jeremy Edwards, “Industry revenue expanded 16.4% and 14.5% in 2011 and 2012, respectively, as corporate profit rose and companies reinvested in their workforces.” Additionally, more Americans were willing to pay for premium subscriptions to secure new jobs. The internet has become increasingly prominent in consumers' everyday lives and, as a result, the use of online recruitment sites has continued to rise. Consequently, industry revenue is projected to grow at an average annual rate of 13.7% to $2.9 billion over the five years to 2015, including growth of 11.9% in 2015.
Despite strong revenue growth, the industry has gained only a small number of new players. Existing industry players have increased their market share through the purchase of smaller niche players and organic growth of their user bases. Incumbent operators hold a significant competitive advantage in developing brand names and high market share concentration, which has made it difficult for new operators to enter the industry.
Over the next five years, the industry is expected to continue growing as online services become an increasingly important part of consumers' everyday lives. “Industry operators are expected to provide more services to clients, such as candidate assessment, and the recovery of the United States will precipitate more job listings," says Edwards. Rising corporate profit will cause businesses to increase the size of their workforces, and online recruitment sites will benefit from this trend. Additionally, new operators are expected to enter the industry and provide online recruitment services to niche markets, such as healthcare and information technology. Overall, industry revenue is projected to grow over the five years to 2020.
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IBISWorld industry Report Key Topics
Online recruitment sites charge employers to list job openings. Operators also maintain databases of resumes that employers can search for a fee. Enterprises in this industry work entirely online and earn a portion of revenue from ad sales.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
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