Applicant Tracking System Market Summary:
The Global Applicant Tracking System Market is estimated to reach USD 2.1 Billion by 2025 at a CAGR of 8.3%, Observe by Forencis Research (FSR).
Applicant Tracking System (ATS) is a software application which used for recruitment and hiring process management. ATS is built to assist the management with resumes and applicant information in an efficient way. ATS is used in all types of large and small organizations. It helps these organizations to track information of job applicants, and hiring of appropriate candidate, easing the overall hiring process. Additionally, it helps in scheduling interviews, emails, etc., which reduces the workload of recruiters and hiring managers. It avoids human error by computerized the process and to save time. The resume boards and online portals like LinkedIn, Monster, and Indeed are partnering with ATS software providers for secure data support and management from one system to another. . Some Key Players in Applicant Tracking System Market are: IBM Corporation, SAP SE, Oracle, Automatic Data Processing Inc, Cornerstone OnDemaand Inc, Jobvite Inc, iCIMS, Inc, SilkRoad Technology Inc, Greenhouse Software Inc, Other Key Companies.
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Applicant Tracking System Market: Drivers & Restraints
Adoption of Cloud-Based Technologies
The market demand for the applicant tracking system is growing owing to the adoption of cloud-based technology. Cloud based technolpogies help secure the data automation and to solve recruiting problems to deliver result-oriented output. However, these systems increase software speeds and reduce the response time by updating information in real-time. This helps to speed up the recruiting processes and to make better decisions in less time.
Hence, adoption for cloud-based technologies is expected to surge the applicant tracking system market during the forecast period.
Increasing Demand for Digitalization
Increasing demand for digital services improves the overall quality and automatically organize the data. Companies do not have to pay extra for the additional time required to sort and file the paper applications, thus accelerating the hire time. According to the SAP SE, digital transformation helps in increasing speedy and effient operations to send and retain talent.
Therefore, the increasing demand for digitalization is expected to drive the applicant tracking system market during the forecast period.
Lack of Awareness Regarding Applicant Tracking Systems
Processing information manually is time-consuming. According to the IBM Corporation, 80 percent of hiring managers spent their time in searching for candidates and scanning resumes. In 2017, the report found that 52 percent of candidates didn’t receive any communication from the recruiter in the two to three months after applying for the job openings. Applicant tracking systems help to source the appropriate candidate while helping it to properly communicate with all the candidates. Hence, lack of awareness about the product may hinder the growth of applicant tracking systems market.
Applicant Tracking System Market: Key Segments
- Based on Deployment Mode: Cloud and On-premises
- Based on Component: Services and Solution
- Based on Organization size: Small Business, Midsize Business, and Enterprise Business
- On Based of End-User: Healthcare, Banking, Financial Services, and Insurance (BFSI), Government, IT and Telecommunication, Manufacturing and Others
- Key Regions Covered: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
Applicant Tracking System Market: Report Scope
The report on the applicant tracking system market covers a deep dive analysis of historic, recent and current market trends. furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
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Applicant Tracking System Market: Report Segmentation
For the scope of report, In-depth segmentation is offered by Forencis Research
Applicant Tracking System Market, by Deployment Mode
Applicant Tracking System Market, by Component
Applicant Tracking System Market, by Organization size
- Small business
- Midsize business
- Enterprise business
Applicant Tracking System Market, by End-User
- Banking, Financial Services, and Insurance (BFSI)
- IT and Telecommunication
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Applicant Tracking System Market, by Region
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- Rest of South America
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About Forencis Research
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