According to the new research report published by The Insight Partners, titled “Applicant Tracking System (ATS) Market– Global Analysis and Forecasts to 2025”, the Global Applicant Tracking System Market is expected to reach US$ 1,345.7 Mn by 2025, registering a CAGR of 9.2 % during the forecast period 2018-2025.
The applicant tracking system is a result of digital revolution in recruitment processes, an ATS gathers all recruitment associated documents; organize and store them for easy future access. The applicant data stored in the system is collected in certain ways with the help of an application integrated with the user company’s internal website. The ATS software not only collect and organize data but also perform a company defined analysis of resumes. The analysis enables the companies to effectively filter the applications sufficing the criteria. Rapidly increasing rate of employment and demand for time efficient solution in the Human Resource department is expected to contribute to the growth of ATS solution worldwide.
The global applicant tracking system market has been segmented on the basis of deployment model, component, and end-user. On the basis of deployment, the market has been bifurcated into on-premise, and cloud. The applicant tracking system find its applications into various industries that from the basis of segmentation by end-user. The applicant tracking system end-users’ are many, and therefore the market has been segmented into BFSI, IT & telecommunication, manufacturing, government, and others. On the basis of component, the applicant tracking system market has been segmented into solution and services.
Key findings of the study:
In 2017, North America is expected to hold the largest revenue share of global applicant tracking system market. The recruiting, staffing and workforce solution industry has made a noteworthy contribution to the U.S economy and also offered superlative career and job opportunities for more than 15 million prospects every year. For the coming years as well the staffing and recruiting industry in the region is projected to experience continued growth and steady demand owing to stabilizing of all indicator points (including population growth, decreasing labor force participation, and lower unemployment rate)..
APAC region is expected to witness the highest CAGR growth during the forecast period.
The global applicant tracking system market by end-user was led by IT & telecom segment in the year 2017 and is anticipated to continue its dominance during the forecast period. Despite of slightly gloomy employment outlook the IT & telecom sector is expected to boost the adoption of applicant tracking systems based on two major factors. The first one it’s the rising demand of talents across the globe and increasing count of applicants every day. In order to effectively manage these employees, the IT & Telecom companies are increasingly deploying applicant tracking systems. The second factor is the spending capability of the IT & Telecom companies. IT & Telecom imbibe the highest spending capability on the upcoming technologies owing to which the sector is expected to contribute significant profits to the applicant tracking system.
The key companies profiled in this report include 4Talent, Grupo Navent S.R.L., GUPY Tecnologia em Recrutamento LTDA, ApplicantStack, Bullhorn Inc., ClearCompany, Kenoby, Greenhouse Software, Inc., Hyrell, iCIMS, Inc., Pemasys, Jobvite, Inc., Oracle Corporation, Workable Software Limited, and SAP SE.
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