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Applicant Tracking Systems Market Research Report - Forecast to 2027

Global Applicant Tracking Systems Market Research Report – By Services (Managed Services), Deployment (On-Cloud, On-Premises), Organization Size (Smes, Large Enterprises), Industries (Government, IT & Telecommunication) - Forecast Till 2027

ID: MRFR/ICT/4296-HCR | December 2022 | Region: Global | 100 Pages         

Applicant Tracking Systems Market

Applicant Tracking Systems Market is Predicted to Reach US$ 2.2 Billion by 2027 Registering a CAGR of 6.8%

Segmentation

By Services Managed services Professional services
By Deployment On-Cloud On-Premises
By Organization Size SMEs Large and big enterprises

Key Players

  • International Business Machines Corporation of the United States
  • Jobvite of the United States
  • Oracle Corporation of the United States
  • FindlyTalrnt LLC of the United States
  • BambooHR of the United States
  • Clear Company of the United States
  • CornerStone OnDemand of the United States
  • Bullhorn Inc of the United States
  • Exacthire of the United States
  • Hyrell of the United States
  • IBM Corporation of the United

Drivers

  • Rise in adoption of cloud-related applicant tracking systems
  • Rise in employee satisfaction
  • Flexibility of raising the customization
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Applicant Tracking Systems Market Overview


The applicant tracking systems market applicants refer to that software as a service that can be unified to an application system that is used by companies and the market players for hiring the employees. This applicant tracking system industry is widely in use as it helps and plays a role in automating staffing the operations of any premises. It can also be called Talent management software. The- cloud deployment applicant tracking system segment is one of the leading and most dominant applicant tracking system segments in the whole market. It has been found that it is one of the most dominating segments in the year 2016 covering an applicant tracking system market share of about 60%. This raises the applicant's efficiency of staffing along with its productivity. It also helps in controlling the recruitment process of the people. Globally, it has been found that the Application Tracking Systems Market occupies a CAGR value of about 10% majorly during the market forecast period. Moreover, the market occupies a market value of about USD 1.08 billion to USD 1.81 billion during the market forecast period of about 2017-2023 throughout the market forecast period. Besides providing actionable insights ATS reduces the time and cost of the candidates.


Moreover, the application tracking system enhances or improves the administration of the electronic system for recruitment needs. Besides it, technological advancement and the upliftment of efficiency drive up the market size and the market growth. This software helps in building and assisting the management of the tracking information in the best way.


COVID 19 Analysis


The outbreak of the pandemic led to the creation of certain problems throughout the world. The outbreak hampered the growth and production of the manufacturing unit. The manufacturing process was still hampered. The improvement of lockdown disrupted the economic condition of the industries and many other companies. The supply chain was disrupted whereas there was a change in consumer behavior.


Dynamics


Drivers


Some of the leading factors that drive up the applicant tracking systems market are the rise in adoption of cloud-related applicant tracking systems that can track the employees present within the premises. ATS raises the screening and job activities across the numerous job boards which releases the manual bias along with the errors. Due to lowering up of latency and lessening costs up of ATS market. Moreover, some organizations are adopting ATS because of their focus on the rise in employee satisfaction. This can be proved by improving communication skills and lessening manpower and expenses. From the application tracking system market, it has been found that the applications are getting updated.


Opportunities


This software provides the companies the flexibility of raising the customization of the software which fulfills the need of the end-users. Moreover, the ATS feature has helped in fulfilling the hiring process starting from the applicant's life and ending the employee’s life.


Challenges


The combination of the previous ATS system with the new advanced system is the main challenging factor for application tracking system market growth. High competition among the market players for adopting new resources, sourcing, attracting the resources, and acquiring talent. Manually recruiting raises the costs associated with the HR department which raises the manpower. Adopting new IT systems lessens the costs associated with the employee recruitment process. Moreover, the adoption of a new ATS system becomes challenging if case compatibility checking of the software is not done. Compatibility checking has to be done for maintaining cohesiveness.


Restraints


The presence of restraining factors like the absence of laborers in the manufacturing unit forbade growth.


Segmentation
By Type


Globally, the applicant tracking system industry is classified into various applicant tracking systems market segments. This classification includes services, deployment, industrial size, organization size along the region. Moreover, the service applicant tracking systems market segment is further classified into managed services along with professional services. Moreover, the deployment segment is being classified into on-cloud and premises market segments. Besides it, the organization market size segment is further being classified into SMEs and other large and big enterprises. Besides it, the industrial application tracking segment is divided into government, IT segment, telecommunications divisions, manufacturing units, and many more. Here the market also expands to the region of North America, some of the Asia Pacific region, European region. And many regions present in the rest of the world.


By Technology


Due to the advancement of technology, the cloud deployment system is gaining high market value. The rise in applicant tracking systems market growth for generation of data and using more technology like internet of things and analytics are greatly adopting more of the cloud deployment segment. Due to technology, the adoption of ATS systems in large premises raises the growth and size. IT and telecommunications create a dynamic field where it holds the major market share among the ATS market. There was a transformation in the fast-changing technology. The development of certain innovative products raises the market presence and helps in strengthening the position of the market.


Regional Analysis


The ATS market has expanded its applicant tracking systems market size to the regions of North America, Asia Pacific, some of the European region, and some areas in the rest of the world. North America is one of the most dominating regions covering huge applicant tracking systems market share. Moreover, the tracking system applications are in great demand due to the rise in adoption of artificial intelligence which has helped in steering up the applicant tracking system market size to a great extent. In the European region, optical sorters have experienced rapid growth due to the growth in technology in the ATS market. This leads to the improvement of the recruitment and the staffing operations which raises the productivity of the recruiter and many more. The emerging markets in the region of Asia Pacific which include China, India, and Japan are expected to grow at high CAGR value in the next emerging years.


Competitive Landscape


Some of the most dominating and leading market players in the global applicant tracking systems market are International Business Machines Corporation of the United States, Jobvite of the United States, Oracle Corporation of the United States, FindlyTalrnt LLC of the United States, BambooHR of the United States, Clear Company of the United States, CornerStone OnDemand of the United States, Bullhorn Inc of the United States, Exacthire of the United States, Hyrell of the United States, IBM Corporation of the United, Lumesse Ltd of England, Applicant stack of the United States, Pair of the United States, Workday Inc of the United States, SAP Success Factors Cooperation of the United States, Taleo Corporation of the United States, OCIMS Inc of the United States, ADP LLC of the United States and many more. Applicant tracking systems market is in fact in charge of providing online job opportunities and has spread its empire throughout the internet.


Applicant Tracking Systems Market Recent Developments



  • Jobs in March 2018, by its acquisition with Broad, the man technology department has developed some of its application tracking software where it has developed the integrated solutions of human resources information software.



  • US PE Firm on March 5, 2018, has put itself into the HR tech platform sector where it has followed the HR technology. They have planned strategies that include the production of some of the HR technological appliances or products. The human resource manager by the invention of its products can manage the process of hiring candidates and the process of liberating the information. This helps marginally in raising the applicant tracking system market profit.

  • ARS OnDemand on March 1, 2018, along with its partnership and acquisition with Corvirus and helped the clients for accessing the integrated solutions and also for accessing the unified assessment helps in driving up the demand of the applicant tracking system industry.


Applicant Tracking Systems Market Report Overview


From the report analysis, it was marked about the clear scenario of the market growth. It signifies the recent development taking place. Here the report tells about the impact of COVID on the market and health issues so caused concerning it. It signifies recent developments being carried out in the market. Moreover, the report also tells about the growth factor being carried out in the Applicant Tracking Systems Market and it also explains the challenging factors and the factors that restrain the growth.



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 2.2 Billion
  CAGR   6.8%
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Services, Size
  Geographies Covered   North America, Europe, Asia-Pacific
  Key Vendors   International Business Machines Corporation of the United States Jobvite of the United States Oracle Corporation of the United States FindlyTalrnt LLC of the United States BambooHR of the United States Clear Company of the United States CornerStone OnDemand of the United States Bullhorn Inc of the United States Exacthire of the United States Hyrell of the United States IBM Corporation of the United
  Key Market Opportunities   This software provides the companies the flexibility of raising the customization of the software which fulfills the need of the end-users. Moreover, the ATS feature has helped in fulfilling the hiring process starting from the applicant's life and ending the employee’s life.
  Key Market Drivers   Flexibility of raising the customization


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Frequently Asked Questions (FAQ) :

The North American application tracking systems market is expected to record a substantial market valuation by 2023.

The global application tracking systems market is projected to register a moderate 10% CAGR in the forecast period.

The managed service segment is slated to expand as the fastest-growing segment.

The IT and telecommunications segment is expected to witness substantial growth.

A few major market players operating in the global application tracking systems market are ADP LLC (U.S.), iCIMS Inc. (U.S.), Taleo Corp. (U.S.), Jobvite (U.S.), among others.