Global Applicant Tracking System Market to Reach US$ 3.9 Billion by 2028, Impelled by the Increasing Demand for Streamlined Recruitment Processes

According to the latest report by IMARC Group, titled “Applicant Tracking System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global applicant tracking system market size reached US$ 2.5 Billion in 2022. An applicant tracking system (ATS) is a software tool that is utilized by employers and hiring teams to manage and streamline the recruitment process. It is a centralized database and workflow system that allows organizations to effectively track, store, and analyze job applications and candidate information. An ATS typically includes job posting and application management, resume parsing and storage, candidate screening and filtering, communication and collaboration tools, interview scheduling, and reporting and analytics capabilities. It saves time and cost by automating administrative tasks, improves collaboration among team members, enhances the candidate experience, and provides data-driven insights for informed decision-making. It is also scalable and customizable and integrates efficiently with other human resource (HR) systems, making it a valuable tool for organizations of all sizes.

Global Applicant Tracking System Market Trends:

The increasing demand for efficient and streamlined recruitment processes that can help automate manual tasks, such as resume screening and application tracking, enabling recruiters to manage high volumes of applicants effectively, is one of the major factors driving the market growth. Moreover, the growing popularity of ATS in various organizations to help acquire top talent and attract and access the most qualified individuals is contributing to the market growth. Additionally, the widespread product application due to its seamless and user-friendly application process, ensuring timely communication, and providing transparency to candidates to build a strong employer brand is creating a positive outlook for the market. Furthermore, organizations are increasingly relying on data-driven insights offered by ATS platforms to optimize their recruitment strategies and make informed decisions, refine their hiring processes, and improve overall recruitment outcomes, which is positively impacting the market growth. In addition to this, the increasing utilization of ATS platforms due to their integration capabilities with other HR systems that enable a cohesive and efficient HR ecosystem, ensuring smooth data flow and reducing manual effort, is providing a considerable boost to the market growth. Apart from this, rapid technological advancements, such as artificial intelligence (AI) powered resume parsing, automated candidate screening, interview scheduling, and analytics capabilities, have made ATS platforms more sophisticated, offering enhanced features and functionalities, which in turn, is providing remunerative growth opportunities for the market. Looking forward, the market value is projected to reach US$ 3.9 Billion by 2028, expanding at a CAGR of 7.53% during 2023-2028.

Market Summary:

• On the basis of deployment, the market has been bifurcated into on-premises and cloud.
• Based on the organization size, the market has been segmented into small and medium-sized enterprises and large enterprises.
• On the basis of component, the market has been categorized into software and services.
• On the basis of end-user, the market has been divided into BFSI, IT and telecommunications, government and public sector, retail, manufacturing, healthcare and life sciences, and others.
• Region-wise, the market has been segmented into North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru and others); and the Middle East and Africa (Turkey, Saudi Arabia, Iran, the United Arab Emirates and others.)
• The competitive landscape of the market has also been examined, with some of the key players being ApplicantStack, ATS Ondemand, Clearcompany, Greenhouse Software, IBM, iCIMS, JazzHR, Jobvite, Oracle, SAP SE, SilkRoad Technology, SmartRecruiters, Tribepad, Ultimate Software, Zoho, etc.

Report Scope:

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