How Big is the Interview-as-a-Service Market Size?
The sophisticated modernization of tech-driven technologies like “Interview-as-a-Service” in the HR industry has drastically changed how an organization adheres to its interview procedures. To convey the extraordinary experience to all the candidates at every interview stage, it’s highly indispensable for companies to adopt the latest HR trends. This advanced innovation of interview-as-a-service set its sights on helping the corporate world to look beyond resumes & follow precise screening strategies, alleviate their hiring turnaround time, etc.
All these factors are driving the exponential growth of the IaaS market in 2022 & beyond. It’s an all-in-one interview platform enabling your HR team to delegate the responsibilities of gauging candidates’ skills to industry-specific interviewers. 80% of business owners have incorporated this platform in their human resource department to make the right selection through comprehensive screening by qualified interviewers.
Also Read: How Can You Leverage The Growing Interview as a Service Market?
The Massive Proliferation in the Interview-as-a-Service Market Post Coronavirus 2022 Pandemic and Beyond
Admit it; the video interview software market has experienced exponential growth to conduct interviews remotely on the score of a surge of Covid-19 cases. In-person interviews were dead in 2020-2021 & even though 70-80% of the companies still adhere to the virtual interview mode. They state that “virtual interview rounds are more time-saving than ever before & they prefer following this new era in 2023 & beyond”. So, way back in 2020, these new norms of social distancing & working from home brought forth the pinnacle of demand for the video interview software market.
As per the insight partner’s Video Interviewing Software Market Growth Report 2022-2028, it’s projected to reach US$ 536.85 million by 2026-28 from US$246.34 million in 2022. Subsequently, during the post-Covid-19 pandemic, the aim of the fallen start-ups & well-recognized companies was only to achieve their growth level back by hook and crook by hiring qualified talent; nevertheless, it was the most highly challenging task for them. Start-ups can’t afford to bear the cost of bad hires post-pandemic, which gave rise to the expert interviewers panelists for conducting the interviews meticulously. Considering this dire requirement, business owners developed the one-stop solution, known as “Interview-as-a-Service,” to make the right selection.
Also Read: How Interview-as-a-Service Will Transform Hiring in 2024?
High Interview-as-a-Service Adoption Expected in 2023 & Beyond
Interview-as-a-service market development is associated with higher costs than the video interview software market. Thence, we can’t make predictions about the exact figure. However, according to the study conducted by InCruiter, a leading IaaS provider, the interview-as-a-service market size is expected to touch 5 to 6 billion USD by 2026 .
Also Read: How Can You Leverage the Growing Interview as a Service Market?
Want to Expedite your Hiring Process? Adopt Next-Tech Driven IaaS Solution Right Away!!
The interview-as-a-Service market has been successfully standing on its commitment to helping businesses to expedite their hiring process. Adopting this tech-driven sophisticated technology has transformed the landscape of conducting interviews in companies. It’s the right time to embrace the ever-growing IaaS technology to outbid the competitors in this fast-paced world. Furthermore, you can also explore InCruiter’s Iaas platform offering end-to-end streamlined interview solutions.
Also Read: HR Tech startup InCruiter secures ₹11 million funding
The Final Put
An effective digital interview platform should be considered to survive in this highly competitive world. Today’s corporate world is only revolving around technologies & assisting businesses in achieving a competitive advantage and drive long-term growth targets seamlessly. Therefore, keep your business from leveraging the advanced & flexible interview platform allowing you to automate the entire interview process.
