How Big is the Applicant Tracking System Market ? :
According to the latest report by IMARC Group, titled, “Applicant Tracking System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the applicant tracking system market growth. The report also includes competitor and regional analysis, and contemporary advancements in the market. the global applicant tracking system market size reached US$ 2.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.9 Billion by 2028, exhibiting a growth rate (CAGR) of 7.53% during 2023-2028.
What is Applicant Tracking System ? :
An Applicant Tracking System (ATS) is a software application that automates the recruitment and hiring process, enabling organizations to streamline the complex task of sourcing, screening, and managing candidates. These systems are designed to organize a large volume of resumes, track applicants through various stages of the hiring process, and facilitate communication between recruiters and candidates. By eliminating manual data entry and offering advanced algorithms for candidate ranking, an ATS significantly enhances efficiency and reduces the time-to-hire. It also integrates seamlessly with other Human Resource Management Systems (HRMS), thus offering a cohesive talent acquisition and management solution.
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Competitive Landscape with Key players:
- ApplicantStack
- ATS Ondemand
- Clearcompany
- Greenhouse Software
- IBM
- iCIMS
- JazzHR
- Jobvite
- Oracle
- SAP SE
- SilkRoad Technology
- SmartRecruiters
- Tribepad
- Ultimate Software
- Zoho
Global Applicant Tracking System Market Trends:
The global Applicant Tracking System market is driven by the relentless evolution of technology, especially Artificial Intelligence (AI) and machine learning, which are making ATS solutions more intelligent, scalable, and customizable. These advanced features allow for predictive analytics and enhanced candidate matching, thereby elevating the efficacy of the recruitment process. Another critical factor is the escalating need for compliance with regulatory frameworks around data protection and equal employment opportunities. An ATS helps organizations maintain transparent and auditable recruitment records, thereby aiding in compliance. Remote work has become more prevalent than ever, creating new challenges in hiring and onboarding; ATS solutions with remote interviewing and onboarding capabilities are thus seeing increased adoption. Additionally, the rise of the gig economy is necessitating more agile and frequent hiring processes, which is further fueling demand for ATS platforms.
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Key Market Segmentation:
Breakup by Deployment:
- On-premises
- Cloud
Breakup by Organization Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by Component:
- Software
- Services
Breakup by End-User:
- BFSI
- IT and Telecommunications
- Government and Public Sector
- Retail
- Manufacturing
- Healthcare and Life Sciences
- Other
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
Key highlights of the report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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