MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Applicant Tracking Systems Market
Market Research Future (MRFR) has announced the release of a new research report on the global applicant tracking systems market. The global applicant tracking systems market is examined in close detail in the report, which provides detailed information about the leading segments and key players operating in the market in order to familiarize readers with the internal workings of the market. The historical growth trajectory of the applicant tracking systems market is also assessed in the report in order to provide a basis for the extensive forecasts regarding the market’s likely growth trajectory over the forecast period. The global applicant tracking systems market is expected to exhibit a CAGR of close to 6.54% through the forecast period from 2022 to 2030.
Applicant tracking systems are used for recruitment purposes in organizations. They help track and maintain a detailed database about applicants and the organization’s specific needs, allowing easy matchups between the given criteria. The functioning of an applicant tracking systems is much like the more popular customer relationship management platforms, wherein various details about an organization’s customers are stored in order to allow the organization to know their customers better and thus make better product and marketing decisions. An applicant tracking system functions in a similar way, using various aspects of information about applicants to deliver the best results for the organization. The global applicant tracking systems market has grown rapidly over the last few decades with the growing adoption of digital systems in HR departments.
The widespread popularity of applicant tracking systems, due to their utility in finding the perfect fit for an organization, is likely to drive the global applicant tracking systems market over the forecast period. The popularity of applicant tracking systems has, in fact, resulted in potential employees using a number of techniques to make their resumes more “attractive” for the algorithms behind applicant tracking systems. This is a measure of the growing scope of the applicant tracking systems market and its strong growth potential over the forecast period.
The global applicant tracking systems market is segmented by service type, deployment, end-use industry, organization size, and region.
By service type, the global applicant tracking systems market is segmented into managed and professional services.
By deployment, the global applicant tracking systems market is segmented into cloud and on-premise.
By end use, the global applicant tracking systems market is segmented into the government sector, IT & telecom, manufacturing, and others.
By organization size, the global application tracking systems market is segmented into SMEs and large organizations.
The global applicant tracking systems market is segmented geographically into North America, Europe, Asia Pacific, and rest of the world.
North America is likely to remain the major regional segment of the global applicant tracking systems market over the forecast period. The increasing adoption of AI tools in job searches and staffing applications is likely to lead to increasing use of applicant tracking systems in North America over the forecast period. The increasing competitiveness in the corporate sector in North America, particularly the U.S., is also likely to drive companies towards the use of finer and more sophisticated tools to recruit and hold on to the top talent. The increasing scale of efforts being taken to hang on to top talent is likely to drive the applicant tracking systems market in North America. Europe is also likely to remain a major regional market for applicant tracking systems due to similar reasons, as the corporate sector in Europe is highly technologically advanced and not averse to using technological solutions to satisfy operational needs.
Asia Pacific is an emerging region in the global applicant tracking system market and is likely to exhibit the highest growth rate over the forecast period. Emerging APAC countries such as China, India, and Japan are likely to emerge as major consumers of applicant tracking systems over the next decade or two.
Leading players in the global applicant tracking systems market include Oracle Corporation, Cornerstone OnDemand Inc., IBM Corporation, Lumesse Limited, SAP (SuccessFactors), ApplicantStack Inc., iCIMS Inc., ClearCompany, Findly Talent LLC, Bullhorn Inc., Hyrell, Workday Inc., Paycor, Jobvite Inc., ExactHire, and BambooHR.