Global Digital Talent Acquisition Market – Industry Trends and Forecast to 2029

Global Digital Talent Acquisition Market, By Skill (Data Management, Web Presentation, AI Developers, Cloud Computing and Security), Training Type (Internal, External), Enterprise Size (Small Enterprises, Medium Enterprises, Large Enterprises), End User (Banking, Insurance, Retail, IT and Telecom, Services, Government and Defense, Manufacturing, Logistics) – Industry Trends and Forecast to 2029.

Digital Talent Acquisition Market Analysis and Size

The market for digital talent acquisitions is anticipated to generate significant amounts of revenue over the forecast periods due to the technological breakthroughs and innovations globally. The technologies including Hadoop and cloud solutions are in demand and have room to develop as the big data analytics sector expands quickly to include mainstream consumers. The demand for digital talent and services is still being driven by the new generation of advanced technology and the availability of data.

Global digital talent acquisition market was valued at USD 48.95 billion in 2021 and is expected to reach USD 97.54 billion by 2029, registering a CAGR of 9.00% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Digital Talent Acquisition Market Scope and Segmentation

Market Definition

The digital talent acquisition is a set of various digital tools that assist employers or human resources (HR)s to find, track, and interview job prospects and onboard and train new hires. The resumes don't need to be cut down by the recruiter. Numerous computerized solutions are available to complete the operation automatically. It gives the recruiter more time to work on the other components of the recruiting plan.

Digital Talent Acquisition Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Burgeoning Applications across End Use Industries

The market has grown significantly over the past few years due to the expanding use of digital talent acquisitions across various end-use sectors. The use of these devices has grown over time in industries like aerospace, automotive, and consumer electronics. Additional aspects that are anticipated to improve the market's growth prospects over the projected period include the rise in smart city projects, product advancements, and widespread usage of digital talent acquisitions in the movement of goods and manufacturing facilities. This factor will largely boost over the forecast period.

• Growth of the Data Volumes

The exponential expansion of data volumes is the key aspect influencing the development of digital skills. Growth in data volumes necessitates both software professionals and analytical talents. In turn, this promotes digital skills. Strategic data-driven decisions are made easier with the aid of analytical skills and technologies. During the forecast period, this driver is anticipated to significantly impact the market. Businesses are gradually utilizing data-driven software systems, such as customer relationship management (CRM), enterprise resource planning (ERP), among others, as they have begun to view data as an asset. The number of data pertaining to operations, clients, and suppliers has increased exponentially as a result of these technologies.

Furthermore, the factors such as increased Internet adoption will accelerate the overall market expansion during the forecast period. Additionally, the surging levels of investment for the development of advanced technology  is anticipated to drive the growth rate of the digital talent acquisition market. The rising initiatives of digitization by the government will further positively impact the market's growth rate during the forecast period.

Opportunities

• Emergence of Artificial Intelligence (AI)

The emergence of artificial intelligence (AI) is estimated to generate lucrative opportunities for the market, which will further expand the digital talent acquisition market's growth rate over the forecast period. Several platforms have been developed to improve the abilities of digital talent, such as using AI in talent management. Organizations are now employing AI for pre-hiring evaluations and project assignment that requires a worker's specialized expertise. Companies are upscaling their talents and moving toward AI and machine learning to obtain a competitive advantage in the market for digital talent. For instance, IBM Corporation provides IBM Watson, a tool for managing AI talent.

• Surging Innovations And Other Advancements

Additionally, the growing innovations and technological advancements further offer numerous growth opportunities within the market. Technologies such as Hadoop and cloud solutions are in demand and have room to grow as the Big Data analytics market expands quickly to encompass mainstream consumers. The demand for digital skills and services continues to be driven by the new generation of smart technology and data accessibility.

Restraints/Challenges

• Technological Changes

The complex and widespread technological changes associated with the digital talent acquisitions further derail the overall market’s growth. This factor is expected to obstruct market growth over the forecast period.

• Lack of Awareness

The market growth rate will be further slowed down by lack of knowledge about the advantages of digital abilities is impeding the growth of digital talent. Many end consumers still do not understand the significance of digital skills. Despite technological advancement, it is still difficult for people to acquire digital skills tools. Issues may arise from complicated and extensive technology advances. A number of end users are digitally incompetent. Many end users are unable to do routine tasks like using simple spreadsheets and analysis tools due to a lack of technical understanding, which will be a significant challenge for the digital talent acquisition market over the forecast period.

This digital talent acquisition market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the digital talent acquisition market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Digital Talent Acquisition Market

The digital talent acquisition market was moderately impacted by the outbreak of COVID-19. The digital talent acquisitions has somewhat gained traction due to the increased adoption of digitalization during the lockdowns. The worldwide shutdown has created opportunities for the market as more and more firms are focusing towards digitalized way of recruiting. This is expected to positively affect the digital talent acquisition market.

Global Digital Talent Acquisition Market Scope

The digital talent acquisition market is segmented on the basis of skill, training type, enterprise size, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Skill

• Data Management
• Web Presentation
• AI Developers
• Cloud Computing and Security

Training Type

• Internal
• External

 Enterprise Size

• Small Enterprises
• Medium Enterprises
• Large Enterprises

End User

• Banking
• Insurance
• Retail
• IT and Telecom
• Services
• Government and Defense
• Manufacturing
• Logistics

Digital Talent Acquisition Market Regional Analysis/Insights

The digital talent acquisition market is analyzed and market size insights and trends are provided by country, skill, training type, enterprise size, and end user as referenced above.

The countries covered in the digital talent acquisition market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the digital talent acquisition market because of the adoption of advanced technology along with the presence of a well-established infrastructure within the region over the forecast period of 2022 to 2029.

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the rising number of initiatives of digitization by the government within the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Digital Talent Acquisition Market Share Analysis

The digital talent acquisition market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to digital talent acquisition market.

Some of the major players operating in the digital talent acquisition market are

• Cisco Systems, Inc. (U.S.)
• IBM (U.S.)
• Siemens (Germany)
• Microsoft (U.S.)
• Hitachi Ltd. (Japan)
• Schneider Electric (France)
• Huawei Technologies Co., Ltd (China)
• Intel Corporation (U.S.)
• NEC Corporation (Japan)
• ABB (Switzerland)
• Telefonaktiebolaget LM Ericsson  (Sweden)
• Itron Inc., (U.S.)
• Oracle (U.S.)
• Fujitsu (Japan)
• Honeywell International Inc.,(U.S.)
• Accenture (Ireland)
• SAP SE (Germany)
• Sensoneo (Finland)
• Big belly solar, LLC (U.S.)