Resume Parsing Software Market Seeking Excellent Growth in Near Future
Updated · Jun 27, 2023
Published Via 11Press : Software for resume parsing is used to transform the unstructured data included in resumes into a usable format. The programme extracts information from resumes, identifies it, and organises it using methods for machine learning and artificial intelligence. By automating the resume process and making it impartial during the application process, this software aids the HR department in improving its recruiting process and the applicant experience. Using its bilingual functionality, this programme is used to group the technical and personal information of applicants into their respective areas. It is also a process of mass obliteration.
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|Unit||Value (USD Million)|
|Key Companies Profiled||Daxtra Technologies Ltd, employ star, Hireability, Zoho Recruit, hire EZ, RChilli, Textkernel, Bullhorn, Sovren Group, Ducknowl, Employa, people, Indeed|
This rise is mostly caused by resume parsing software, which may automate the hiring process by categorising candidate data according to the requirements of the position. As more people apply for a given position, it becomes easier for staffing firms or job boards to screen candidates throughout the recruiting process, which may be a contributing factor to a rise in resume parsing software sales. Growing online job portals give job seekers access to a wide range of opportunities to apply for positions globally. As a result, the need for resume parsing software is rising as applicant tracking systems make it possible to scan resumes and identify the ones that are best suited for job applications.
Major players such as:
- Daxtra Technologies (United Kingdom)
- employAstar (India)
- Hireability (United States)
- Zoho Recruit (India)
- hireEZ (United States)
- RChilli (United States)
- Textkernel (Netherlands)
- Bullhorn (United States)
- Sovren Group (United States)
- Ducknowl (United States)
- Employa (United States)
- peopleHum (United States)
- Indeed (United States)
Due to the existence of several domestic and international firms, the market for resume parsing software is competitive. The company’s main objective is to create a new product. Companies frequently use mergers, acquisitions, and partnerships as marketing expansion methods.
Breakdown by Application:
- Job Seeker
- Humans Resource Personnel
- Training Institutes
- Natural Language Processing Software
- Machine Learning Software
- Optical Character Recognition Software
- Rule-Based Parsing Software
- The growth of Internet job boards has raised the demand for resume-processing software as well. Many job boards today offer resume-parsing tools that make it easier for companies to find qualified applicants and quicken the hiring process.
- Along with technological advancements, resume-processing software features will also change.
- This includes software for natural language processing that can recognise linguistic patterns and automatically evaluate applicant traits.
- Organisations are increasingly using artificial intelligence (AI) in resume parsing software in an effort to increase the accuracy of the outcomes these systems deliver.
- Robots can now quickly and accurately analyse enormous amounts of data and decide depending on the information they have acquired thanks to artificial intelligence (AI).
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Market Growth Drivers:
- The recruiting process may be automated by using resume parsing software to categorise candidate data according to the requirements of the position.
- As more people apply for a given position, it becomes easier for staffing firms or job boards to screen candidates throughout the recruiting process, which may be a contributing factor to a rise in resume parsing software sales.
- Growing online job portals give job seekers access to a wide range of opportunities to apply for positions globally.
- As a result, the need for resume parsing software is rising as applicant tracking systems make it possible to scan resumes and identify the ones that are best suited for job applications.
- The text of a job seeker’s resume may be converted into a format that is shared by all applicants thanks to resume parsing software.
- Employers will find it simpler to compare applicants quickly utilising keyword searches and filters that may classify applicants based on their skills, credentials, or experience.
- Software for resume processing has changed the way resumes are now scanned for a certain post.
- The resume parsing software market has difficulties since the customised version of this software is more expensive at first than the basic version, making it inaccessible to low-budget businesses.
- Job seekers and HR staff are unable to examine the programme and learn the standards by which one resume is scored better or worse than another.
- Therefore, users have no influence over favourable or unfavourable results. There is no input from the resume parse.
- Suppliers of ATS (Applicant Tracking Systems) believe that job seekers will ultimately learn how resume parsers work.
- To fill the resume gap left by the absence of career counsellors, they assign explaining to job seekers how to deal with technology.
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In command to examine the relevant market dynamics in a variety of parts of the earth, HTF Market Intelligence has adopted an under-attack and sensible research approach for the Resume Parsing Software Market. Additionally, in instructing to give customers and companies the chance to prevail in Resume Parsing Software Market place markets and develop in new countries, our analysts perform in-depth analyses on specific geographic locations. The analyses of the global resume parsing software marketplace also demonstrate how the shifting performer dynamics are influencing the industry’s expansion. In addition, our market researchers thoroughly examine the goods and services provided by various companies in the Resume Parsing Software market that are vying for market dominance.
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