According to the latest report by IMARC Group, titled “Applicant Tracking System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global applicant tracking system market reached a value of US$ 2.3 Billion in 2021. 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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$ 3.6 Billion by 2027, expanding at a CAGR of 7.73% during the forecast period (2022-2027).
- Based on the deployment, the market has been bifurcated into on-premises and cloud.
- On the basis of the organization size, the market has been divided into small and medium-sized enterprises and large enterprises.
- The market has been analyzed on the basis of the component into software and services.
- Based on the end user, the market has been segmented into banking, financial services and insurance (BFSI), IT and telecommunications, government and public sector, retail, manufacturing, healthcare and life sciences, and others.
- Region-wise, the market has been classified 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 Middle East and Africa (Turkey, Saudi Arabia, Iran, the United Arab Emirates and others).
- The competitive landscape of the market has been examined, with some of the key players being ApplicantStack, Outer Limits Technology, Inc., ClearCompany, Inc., Greenhouse Software, Inc., International Business Machines (IBM) Corporation, iCIMS, Inc., JazzHR, Jobvite Inc., Oracle Corporation, SAP SE, SilkRoad Technology, Inc., SmartRecruiters, Inc., TribePad Ltd., Ultimate Software Group, Inc. and Zoho Corporation.
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