Find stats on top websites
Industry Landscape
The HR Tech industry is experiencing robust growth, driven by digital transformation and the increasing need for efficient talent acquisition. AI and automation are pivotal in reshaping recruitment processes, enhancing candidate experience, and optimizing HR operations. Companies are investing in intelligent solutions to address skill shortages, improve workforce planning, and ensure compliance in a dynamic labor market. The focus is shifting towards integrated platforms that offer end-to-end solutions, from sourcing to onboarding.
Total Assets Under Management (AUM)
Human Resources Software Market Size in United States
~Approximately 12.3 billion USD (2023)
(13.4% CAGR)
• Driven by cloud adoption and AI integration. • Increased demand for talent management solutions. • Focus on data analytics for HR decision-making.
Total Addressable Market
12.3 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Generative AI for Candidate Sourcing & Screening
Generative AI will enable the creation of highly personalized outreach content and sophisticated algorithms for pre-screening candidates based on nuanced requirements, dramatically reducing manual effort and improving match quality.
Explainable AI (XAI) in Hiring Algorithms
XAI will provide transparency into AI-driven hiring decisions, allowing HR professionals to understand why a candidate was recommended or rejected, which is crucial for fairness, compliance, and building trust in automated systems.
Skills-Based Hiring Platforms
These platforms leverage AI to assess candidates based on demonstrated skills rather than traditional qualifications, opening up diverse talent pools and enabling more equitable and effective hiring decisions.
Impactful Policy Frameworks
New York City's Local Law 144 (2023)
This law, effective July 5, 2023, regulates the use of Automated Employment Decision Tools (AEDT) by requiring bias audits, public notice of AEDT use, and certain disclosure obligations for employers and employment agencies.
This policy directly impacts IntelloHire by necessitating transparency and rigorous bias auditing of any AI-powered screening or decision-making tools to ensure compliance and avoid penalties.
Illinois Artificial Intelligence Video Interview Act (2020)
Effective January 1, 2020, this act requires employers to obtain consent from applicants before using AI to analyze video interviews and prohibits sharing the video with anyone except those whose expertise is needed to evaluate the applicant.
IntelloHire must ensure its video interviewing tools comply with consent requirements and data handling restrictions when serving clients in Illinois, potentially requiring feature adjustments or clear disclosure protocols.
Colorado's Equal Pay for Equal Work Act (2021)
Effective January 1, 2021, this act requires employers to include salary ranges in job postings, notify employees of promotional opportunities, and keep records of job descriptions and salary history.
While not directly AI-related, this policy affects the recruitment workflow IntelloHire supports, requiring integration or features that allow clients to comply with salary transparency and internal posting requirements within their ATS.
Transform Your Ideas into Action in Minutes with WaxWing
Sign up now and unleash the power of AI for your business growth
