Applicant Tracking System Market Size to Reach USD 2.33 Billion in 2028
Increasing need to improve candidate hiring experience is a key factor driving applicant tracking system market revenue growth
Market Size – USD 1.38 Billion in 2020, Market Growth –
at a CAGR of 6.5%, Market Trends – Increased adoption of applicant tracking
system in countries in Asia Pacific
The global applicant
tracking system market size is expected to reach USD 2.33 Billion in
2028 and register a revenue CAGR of 6.5% over the forecast period, according to
the latest report by Reports and Data. Increasing preference for automated
recruitment process is driving market revenue growth.
Applicant tracking system is a software that implements the
task of short-listing candidates by selecting their resumes. Features of this
software such as scheduling interviews and candidate tracking are helping in
handling the recruitment process effortlessly. Adoption of advanced cloud
technology services which allows thousands of customers to access similar
resources help companies to cut down their expenses. Companies are competing
and adopting various strategic methods to develop innovative products and
strengthen presence in the market. Applicant tracking software solutions assist
businesses to promote themselves through brand marketing, especially for
qualified job seekers.
Automation helps recruiters to complete the overall
recruitment process more efficiently. Recruitment automation streamlines each
step along the hiring methods, thereby allowing recruiters to gain strong
control and tracking abilities, while influencing candidates with modern
communication and up-to-date technology. It can simultaneously reduce the load
of paperwork and increase chances of obtaining the best and stable talent. It
is difficult for recruiters to keep up with all the applicants in spreadsheets
manually, however, an applicant tracking system can quickly process
applications and swiftly sort through large volumes of data, owing to
unique combination of workflow software and database apps/spreadsheet.
Industry-specific qualifiers can also be appended to check credential and
qualification adaptability.
Some major companies profiled in the global market report
are IBM Corporation, Jobvite, iCIMS Inc., Oracle Corporation, SAP SE, Workday,
Inc., BambooHR, Cornerstone OnDemand, ClearCompany, and Zoho Corporation.
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Some Key Highlights in the Report
- Software
segment accounted for a larger revenue share in 2020. Applicant tracking
software solutions collect and store resumes in a database for hiring
professionals to access. Resumes may also be stored long after the
original job one has applied for, is filled. Adoption of applicant
tracking system software among enterprises has become a central part of
the business operation, due to ease of use and high flexibility it offers,
thereby boosting revenue growth of the segment.
- On-premises
segment accounted for a significant revenue share in 2020. Rising demand
for cost-effective application tracking systems that are suitable for
on-premise infrastructure is expected to boost growth of this segment.
Deployment and integration of software permits archiving maintenance and
communication within the corporate sector.
- Large
enterprises segment accounted for a steady revenue share in 2020. Large
enterprises require a support system which can ease the burden of hiring.
Applicant tracking system software and solutions can make it easy to
receive applications, as well as store, and process these. This system
also supports compliance across multiple countries and can keep hiring
staff of these companies up-to-date with applicable laws. This software
may also help to submit reports correctly and thus avoid penalties and
fees.
- Banking,
financial services, and insurance sector is moving towards a
customer-centric approach and has started adopting technologically
advanced solutions to increase interaction with consumer base through
mobile interfaces and social media platforms such as Twitter, Facebook,
and Instagram. Moreover, increased competition and heightened customer
expectations are also impacting the way banks conduct business in a
significant manner.
- Applicant
tracking system market growth in North America is attributed to rapid
economic development and increasing adoption of digital business
strategies across various organizations. Furthermore, organizations have
invested heavily in advanced technologies to gain a competitive advantage
over their competitors and to improve business operations. Faster and
timely access to desired candidate related information, along with
shortage of job specific candidates are major market growth drivers in the
region.
To identify the key trends in the industry, click on the
link below: https://www.reportsanddata.com/report-detail/applicant-tracking-system-ats-market
For the purpose of this report, Reports and Data has
segmented the global applicant tracking system market based on offerings,
deployment mode, employee type, organization size, end-use, and region:
Offerings Outlook (Revenue, USD Billion; 2018–2028)
- Software
- Services
Deployment Mode Outlook (Revenue, USD Billion; 2018–2028)
- On-premises
- Cloud
Employee Type Outlook (Revenue, USD Billion; 2018–2028)
- Hourly
- Salaried
Organization Size Outlook (Revenue, USD Billion;
2018–2028)
- Small
and Medium-sized Enterprises
- Large
Enterprises
End-use Outlook (Revenue, USD Billion; 2018–2028)
- IT
& Telecommunications
- Government
and Public Sector
- Banking,
Financial Services and Insurance
- Retail
and Consumer Goods
- Others
Regional Outlook (Revenue, USD Billion; 2018–2028)
- North
America
- Europe
- Asia
Pacific
- Latin
America
- Middle
East & Africa
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Market Report includes major TOC points:
- Applicant
Tracking System (ATS) market Overview
- Global
Economic Impact on Industry
- Global
Market Competition by Manufacturers
- Global
Production, Revenue (Value) by Region
- Global
Supply (Production), Consumption, Export, Import by Regions
- Global
Production, Revenue (Value), Price Trend by Type
- Global
Market Analysis by Application
- Manufacturing
Cost Analysis
- Industrial
Chain, Sourcing Strategy and Downstream Buyers
- Marketing
Strategy Analysis, Distributors/Traders
- Market
Effect Factors Analysis
- Applicant
Tracking System (ATS) market Forecast
Conclusively, all aspects of the Applicant Tracking
System (ATS) market are quantitatively as well qualitatively assessed to study
the global as well as regional market comparatively. This market study presents
critical information and factual data about the market providing an overall
statistical study of this market on the basis of market drivers, limitations
and its future prospects.
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