NEW
YORK, Aug. 14, 2024 /PRNewswire/ -- The global
applicant tracking system (ATS) market size is estimated to
grow by USD 714.3 million from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of about 5.25% during the forecast period.
Advantages of applicant tracking systems is driving market
growth, with a trend towards mobile-based applicant
tracking systems apps. However, limitations of applicant
tracking systems poses a challenge. Key market players
include Applied Training Systems Inc., Arcoro, Automatic Data
Processing Inc., Bamboo HR LLC, Bullhorn Inc., ClearCo. Inc.,
Cornerstone OnDemand Inc., iCIMS Inc., International Business
Machines Corp., Jobvite Inc., Learning Technologies Group Plc,
Oracle Corp., Paycor HCM Inc., SAP SE, Self Management Resources
Corp., Silkroad Technology Inc., Skeeled HR S.a.r.l., UKG Inc.,
Workday Inc., and Zoho Corp. Pvt. Ltd..
Get a detailed analysis on regions, market
segments, customer landscape, and companies- View the
snapshot of this report
Applicant Tracking
System (ATS) Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
5.25%
|
Market growth
2024-2028
|
USD 714.3
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
4.98
|
Regional
analysis
|
North America, Europe,
APAC, Middle East and Africa, and South America
|
Performing market
contribution
|
North America at
33%
|
Key
countries
|
US, China, UK, Canada,
and Germany
|
Key companies
profiled
|
Applied Training
Systems Inc., Arcoro, Automatic Data Processing Inc., Bamboo HR
LLC, Bullhorn Inc., ClearCo. Inc., Cornerstone OnDemand Inc., iCIMS
Inc., International Business Machines Corp., Jobvite Inc., Learning
Technologies Group Plc, Oracle Corp., Paycor HCM Inc., SAP SE, Self
Management Resources Corp., Silkroad Technology Inc., Skeeled HR
S.a.r.l., UKG Inc., Workday Inc., and Zoho Corp. Pvt.
Ltd.
|
Market Driver
The use of mobile applicant tracking systems (ATS) is on the
rise due to the widespread adoption of smartphones worldwide. Major
vendors like Google Hire, BambooHR, and Zoho Recruit offer
mobile-compatible ATS apps for both Android and iOS platforms.
Recruiters are increasingly posting job notifications on
mobile-friendly platforms to reach a larger candidate pool. With an
increasing number of job seekers using mobile devices for their job
search, particularly in emerging markets such as India, South
Korea, and China, the
demand for mobile ATS apps is anticipated to grow significantly
during the forecast period. As a result, more vendors are expected
to integrate mobile-friendly applications into their ATS offerings,
driving market growth.
The Applicant Tracking System (ATS) market is experiencing
significant growth, with turnover projected to reach new heights in
the coming years. Technology providers are enhancing their
offerings with trends like video interviews, employment branding,
and ML technologies. ILO's latest report highlights mergers and
acquisitions in the industry, making it a competitive landscape.
Enterprise organizations are embracing technologically advanced ATS
software for a unified set of solutions, streamlining the
recruiting lifecycle. With social distancing and remote hiring, ATS
software has become essential for business continuity and virtual
hiring strategies. Job seekers benefit from career opportunities
and talent intelligence in the talent cloud. Future of Work relies
on automation, AI technology, and recruiting automation for
efficiency and quality. Existing employees also benefit from ATS
for their career growth.
Discover 360° analysis of this market. For
complete information, schedule your consultation - Book
Here!
Market Challenges
- Applicant Tracking Systems (ATS) play a significant role in the
recruitment process, but they come with certain limitations. These
systems can only read specific file formats and may overlook ideal
candidates due to strict keyword matching. The inability to measure
the long-term quality of an applicant is another limitation. While
ATS tools streamline the initial stages of recruitment, they fall
short in assessing the entire employee lifecycle. To ensure
compatibility, resumes must be optimized before uploading. The
reliance on keywords may exclude qualified candidates with diverse
backgrounds or experience outside the job description. These
limitations may hinder the growth of the global ATS market during
the forecast period.
- The Applicant Tracking System (ATS) market is essential for
firms looking to streamline their talent acquisition activities.
However, implementing an ATS comes with challenges. Risk of data
breaches and ensuring candidate privacy is a major concern.
Identifying the right talent with the required skills is another
challenge. The selection process involves various stages, and each
stage requires the recruiter's role to be effective. Artificial
intelligence and machine learning have become essential tools in
the recruitment process. However, understanding candidate behavior
and brand recognition on various platforms and channels is crucial
for success. KPIs like workload, candidate pools, and procedure
analyses help recruiters make data-driven recruitment decisions.
Recruitment companies are increasingly adopting ATS to optimize
their recruitment marketing efforts. Visual dashboards provide
valuable insights into candidate profiles, interest preferences,
and requirements. Employers must invest in marketing to attract top
talent and analyze reports for employee retention. CPOs need to
ensure a smooth procedure for resume screening, keyword
optimization, and candidate communication. Traditional hiring
methods based on guesswork and the likeability factor can lead to
risky hiring decisions. A well-defined data analytics strategy is
necessary to ensure a successful ATS implementation.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This applicant tracking system (ats) market report extensively
covers market segmentation by
- End-user
- 1.1 BFSI
- 1.2 Government
- 1.3 Telecom and IT
- 1.4 Healthcare and life sciences
- 1.5 Others
- Deployment
- 2.1 On-premise
- 2.2 Cloud-based
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 BFSI- The Applicant Tracking System (ATS)
market assists businesses in managing their recruitment process
efficiently. It streamlines application collection, resume
screening, and interview scheduling. Companies can set up
customized job postings, search for candidates using specific
keywords, and communicate with applicants effectively. ATS enhances
productivity by reducing manual work and minimizing time-to-hire.
It provides valuable analytics and reports, enabling informed
hiring decisions. Overall, ATS is an essential tool for modern
recruitment strategies.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The Applicant Tracking System (ATS) market is experiencing
significant growth as organizations adapt to the new normal of
remote work and social distancing. ML technologies are playing a
crucial role in ATS software, enabling automation and AI technology
for CV screening, interview scheduling, and room scheduling.
Business continuity is a top priority, with ATS software ensuring
uninterrupted talent acquisition processes during economic decline.
Virtual hiring strategies are becoming the norm, with ATS software
facilitating remote interviews and onboarding. Tracking
applications are essential for monitoring the progress of job
seekers and ensuring business efficiency and quality. The Future of
Work is increasingly dependent on ATS software, allowing employees
to work from home and enabling organizations to adapt to the
changing economy. Investment in ATS software is on the rise, with
ads for tracking systems becoming commonplace. The use of ATS
software is not only essential for recruiting automation but also
for ensuring business continuity and maintaining a competitive
edge.
Market Research Overview
The Applicant Tracking System (ATS) market is experiencing
significant growth due to the increasing adoption of ML
technologies and recruitment automation in the Future of Work. With
the shift towards remote hiring and business continuity strategies,
ATS software has become essential for organizations of all sizes,
from SMEs to large enterprises. The technological landscape of ATS
is evolving rapidly, with AI technology and predictive analytics
playing a key role in improving efficiency and quality in the
hiring process. ATS software enables talent professionals, hiring
managers, and recruiters to manage open positions, track new hires,
and handle CV screening and interviews. It also offers recruitment
analytics to help organizations make data-driven decisions and
improve candidate satisfaction. The implementation of ATS involves
IT teams ensuring enterprise infrastructure, security, and
networking requirements are met. Security plans and cybersecurity
measures are crucial to mitigate risks and protect sensitive data.
The ROI of ATS investment justifies the cost savings from labor and
increased efficiency. In the current economic climate, ATS software
is essential for adapting to economic changes and managing
attrition rates. Advanced technologies like ML and AI are
transforming the recruitment process, enabling virtual hiring
strategies, and providing real-time tracking of candidates and open
positions. The future of ATS includes integration with other IT
services and devices, room scheduling, and advanced selection
process stages. The use of ATS is not limited to offices but is
increasingly being adopted by home-based recruiters and remote
workers. The economic decline has accelerated the adoption of ATS,
making it an essential tool for organizations seeking to stay
competitive in the talent market.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- BFSI
- Government
- Telecom And IT
- Healthcare And Life Sciences
- Others
- Deployment
-
- Geography
-
- North America
- Europe
- APAC
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download
multimedia:https://www.prnewswire.com/news-releases/applicant-tracking-system-ats-market-size-is-set-to-grow-by-usd-714-3-million-from-2024-2028--advantages-of-applicant-tracking-systems-boost-the-market-technavio-302221991.html
SOURCE Technavio