The value of the global online job advertising market rose 16% in 2022 to $36.1 billion, according to the “Online Job Advertising Market Update” report by Staffing Industry Analysts. The market has grown at a 15% compound annual growth rate since SIA began measuring the sector in 2015.
The 50 largest firms collectively generated $29.1 billion in revenue in 2022 and accounted for 80% of the global market. The two largest firms alone have a 45% share of the market.
Also, the report noted use cases are rapidly expanding for artificial intelligence. “Current use cases for AI found in online job advertising include candidate fraud detection, AI-powered chatbots that handle frequent client interactions, writing job advertisements, filling job applications and auto-generating cover letters,” according to the report.
The five largest global online job advertising firms based on 2022 revenue, according to the report, were:
- Microsoft (LinkedIn), $8.28 billion, 23% market share
- Recruit Holdings (Indeed), $8.03 billion, 22% market share
- Axel Springer (Stepstone/Totaljobs/Jobsite), $1.60 billion, 4% market share
- Seek, $957 million, 3% market share
- ZipRecruiter, $905 million, 3% market share