Market Overview
Market Research Future (MRFR), in its recently published research report, asserts that the global Global Applicant Tracking Systems Market is booming and expected to grow exponentially over the assessment period, recording a substantial market valuation and a healthy 10% CAGR in the forecast period. The market report provides the rate of growth, market demand, strategies, drivers, trends, Applicant Tracking Systems market share, size, SWOT analysis & forecast.
Market Opportunities
This software provides the companies the flexibility of raising the customization of the software which fulfills the need of the end-users. Moreover, the ATS feature has helped in fulfilling the hiring process starting from the applicant's life and ending the employee’s life.
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Segmental Landscape
The global market for applicant tracking systems is segmented into deployment, services, organization size, industries, and region. The services segment is bifurcated as managed services and professional service. The deployment is segmented into on-cloud, on-premises. The organization size segment is divided into SMEs and large enterprises. The industries segment is segmented into government, manufacturing, IT & telecommunication, and others.
Competitive Scenario
The chief market players operating in the Global Applicant Tracking Systems Market as identified by MRFR are Jobvite Inc. (U.S.), Oracle Corporation (U.S.), BambooHR (U.S.), Cornerstone OnDemand Inc. (U.S.), IBM Corporation (U.S.), ExactHire (U.S.), Paycor (U.S. ), SAP (SuccessFactors) (Germany), Workday, Inc. (U.S.), ApplicantStack (U.S.), iCIMS, Inc. (U.S.), Lumesse Limited (England), Bullhorn, Inc. (U.S.), ClearCompany (U.S.), Hyrell (U.S.), Findly Talent LLC (U.S.), and among others.
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Drivers and Restraints
The factors influencing the ATS market growth comprise the growing adoption of cloud-based applicant tracking software which is used for tracking the personnel in the organizations. ATS is gaining massive adoption across governments and enterprises, due to the need for automation of recruitment activities. Cloud-based ATS is gradually finding increased adoption, due to the decreased latency and lower cost of ATS. Several verticals are also rapidly adopting ATS due to rising focus on increasing candidates’ satisfaction by improving communication and decreasing the recruitment manpower and cost. growth in need for strategic and enhanced hiring decisions, Rise in need for cost saving, and emergence of social media fuels the global applicant tracking systems industry. On the other hand, complexity in process automation & integration, and data security & privacy concerns hampers the market growth. Database security provids a major opportunity for market growth.
The speedy growth in data generation and the use of advanced technologies, such as Internet of Things (IoT) and analytics are resulting in the greater adoption of the cloud deployment type, due to the benefits of enhanced and organized storage, and ready availability of data when required. Corporations and government agencies are finding cloud-deployed ATS attractive, as they are easy to provision, provide agility, and offer more functions than the on-premises ATS at an affordable cost. The IT and telecommunications vertical hires a large number of individuals, particularly in the North America and APAC. The jobs dynamics in the IT and telecommunications sector is huge, considering the fast-changing dynamics of technologies and the constant need to hire capable and skilled personnel. The role of ATS gains importance when the job market is vigorous, and there is substantial competition among the recruiters for attracting, sourcing, and acquiring talent.
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Regional Overview
The geographical overview of the global Global Applicant Tracking Systems Market has been conducted in four major regions, including the Asia Pacific, Europe, North America, and the rest of the world (Latin America, the Middle East and Africa). North America is assessed as the leading region across the globe in terms of market value. The Global Applicant Tracking Systems Market in this region has a massive demand due to the increasing adoption of artificial intelligence, which is fueling the market growth to a large extent. The market for applicant tracking systems in Europe is expected to witness rapid growth due to development in technology which advances staffing operations, raise recruiter productivity, and others. Whereas, Asia Pacific countries, such as Japan, China, and India, are the emerging markets for applicant tracking systems, and they are anticipated to grow with the highest CAGR in the upcoming years.
TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
Continued...
4 Market Landscape
Continued...
5 Industry Overview Of Global Applicant Tracking Systems Market
Continued...
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