Applicant Tracking Systems Market Analysis
Applicant tracking
systems (ATS) are software used across enterprises for recruitment of skilled
personnel across industries. Data migration tools in the software make it easy
for recruiters to retain the employee database as it is being installed in a new
system. The global Applicant
Tracking Systems Market report by Market
Research Future (MRFR) takes into consideration several underlying variables
such as drivers, restraints, opportunities, and trends for the period of 2018
to 2023 (forecast period). The outbreak of the COVID-19 pandemic and its impact
on the industry are a part of the report.
Market Scope
The global
applicant tracking systems market is expected to grow at a CAGR of 10% during
the forecast period. The major driver of the market is the use of cloud-based
software for tracking skilled personnel and improving productivity rates. The
use of a single platform for tracking new potential recruits, resume
management, resume search, and job creation and approval is likely to drive the
market demand. The loss of jobs during the COVID-19 lockdown is likely to lead
a flurry of employee hiring software for replacing recruits.
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The changing work
dynamics, use of mobile applications for approaching companies, and automation
in human resource management are main drivers of the market. The use of
software for filtering the right candidates and filling out vacant positions
will bode well for the market in the coming years.
Segmentation
The global
applicant tracking systems market is segmented into services, deployment,
organization size, and industries.
By services, it is
further sub-segmented into managed services and professional services.
By deployment, it
is segmented into on-cloud and on-premises. The former held a share of more
than 60% share and was responsible for improving hiring efficiencies and
productivity rates.
By organization
size, it is segmented into small and medium enterprises (SMEs) and large
enterprises.
Major industries
include IT & telecommunication, government, manufacturing, and others.
Regional
Analysis
The regional
analysis of applicant tracking systems market is studied for regions of Asia
Pacific (APAC), North America, Europe, and Rest-of-the-World (RoW).
North America is
the leading region globally in the applicant tracking systems market. The
market in this region has a huge demand due to the increasing adoption of
artificial intelligence and machine learning. The trend of acqui-hiring among
large companies for recruiting a full-fledged team for their skills is likely
to drive the market demand exponentially.
The market in
Europe is expected to witness rapid growth due to advancement in technology in
applicant tracking systems which improves staffing operations, increase
recruiter productivity, and others. The Asia Pacific applicant tracking systems
market relies on countries of China, Japan, and India due to their large
workforce, immense talent, and need for remote hiring and technical upskilling
in corporate enterprises.
Competitive
Outlook
ApplicantStack,
ExactHire, Bullhorn, Inc., Cornerstone OnDemand Inc., Workday, Inc., Findly
Talent LLC, IBM Corporation, ClearCompany, iCIMS, Inc., Hyrell, Jobvite Inc.,
Paycor, Oracle Corporation, SAP (SuccessFactors), BambooHR, and Lumesse Limited
are prominent players of the global applicant tracking systems market.
Partnerships, acquisitions, and new products are prime strategies of players to
gain their share in the market. Recently, Epazz Inc. launched the Provitrac
applicant tracking system for employees to regain lucrative jobs which they
have lost during the COVID-19 pandemic.
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