According to the latest report by IMARC Group, titled “Applicant Tracking System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global applicant tracking system market size reached US$ 1.29 Billion in 2019. An applicant tracking system (ATS) is the software that automates, organizes and monitors the recruiting and staffing operations of an organization. It acts as a central repository for candidate data and enables the recruiters to streamline the hiring process by filtering qualified and deserving candidates for the job. It helps in scheduling interviews, sending rejection letters, digitally handling the required paperwork and minimizing the overall workload. Besides this, ATS eliminates human bias and errors as the software screens the job application postings across multiple job boards.
Global Applicant Tracking System Market Trends:
Organizations around the world are focusing on automating the recruitment and hiring process to save their time and efforts. Consequently, they are adopting software-as-a-service (SaaS) systems that improve staffing efficiencies and productivity. Apart from this, ATS enables companies to use strategic methods for promoting their brand and attracting qualified job seekers. Furthermore, the increasing penetration rate of cloud-based platforms, in confluence with the adoption of mobile-based recruitment systems, acts as another factor that is propelling the growth of the market. Additionally, the growing need for replacing conventional hiring methods, improving the quality of hiring decisions, and reducing time-wastage and costs is escalating the demand for applicant tracking systems across the globe. On account of these factors, the market value is expected to reach US$ 2.10 Billion by 2025, expanding at a CAGR of 8.5% during the forecast period (2020-2025).
Market Summary:
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