Applicant Tracking System Market

Applicant Tracking System was valued at USD 1 Billion in 2019 and anticipated to grow at 8.1% CAGR during the forecast period.

Introduction of the Applicant Tracking System Market Report

An applicant tracking system is a software application that aids in the electronic management of hiring and recruitment needs. Applicant tracking systems can be accessed online at SME or enterprise levels, based on a particular organization’s requirements. As this software automates screening candidates and job application posting with the help of multiple job boards, it significantly eliminates human errors and bias. In many cases, the applications are automatically filtered based on given criteria including skills, keywords, years of experience, former employers, and schools attended. This has steered the adoption of resume optimization techniques similar to those used in search engine optimization. The applicant tracking system market basically covers tow components: software and services.

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Market Dynamic

Key Drivers and Emerging Trends

The increasing need for automation due to rising instances of manual errors or human bias drives the growth of the applicant tracking system market across the world. Moreover, the rise of geographically diverse talent acquisition is fuelling the growth of the applicant tracking system market to a significant extent. Advancements, including the emergence of analytics is expected to propel the applicant further tracking system market growth over the forecast period. Furthermore, the increasing preference for mobile recruitment has boosted the market demand to a notable extent. Also, the collaboration of the software providers with various social media platforms is expected to augment the growth of the global applicant tracking system market and further simplify the applicant tracking processes. Social engagement also comprises employee referrals, wherein specific solutions help the employees to connect with their social networks for sharing open positions at the company. Presently, social media has become an essential tool to help recruiters engage with potential applicants.

Restraint in the Applicant Tracking System Market

Lack of awareness about applicant tracking systems in few emerging regions is projected to hamper the global applicant tracking system market growth. Furthermore, the lack of a skilled workforce for the deployment of the advanced applicant tracking system is also expected to cause a hindrance for the market.

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Component- Segment Analysis

Based on the component, the software segment is estimated to dominate the global applicant tracking system market over the forecast period. The services sub-segment is projected to grow over the forecast period. The software automates the task of screening job applications and the candidates through multiple job boards. As the process of job search begins, the recruiters utilize powerful features of sourcing in an ATS solution for seeking out qualified talent. With the help of a few clicks, the recruiters post a job opening on various job boards, send out email blasts, or develop a career site for the applicants. As the candidates submit their applications, the ATS automatically organizes and scores them based on how probable each candidate for a specific role.

Deployment Type- Segment Analysis

Based on the deployment type, the cloud is projected to grow at a faster CAGR over the forecast period. Factors such as lower cost and decreased latency are fuelling the market adoption for cloud-based applicant tracking system.

Enterprise Size – Segment Analysis

Based on the enterprise size, large enterprises dominate the global applicant tracking system market. It is majorly due to high adoption of technology among the large MNCs with high capital and infrastructure. However, SMEs are projected to garner the faster CAGR over the forecast period. The rapid growth of SMEs and various government initiatives to support small businesses are supplementing the market growth.

End User – Segment Analysis

Based on the end user, IT & telecom is projected to hold the significant market share in the global applicant tracking system market. The IT & telecom segment employs a huge number of people across the world. The market potential in this vertical is dynamic, considering the rapidly changing technological landscape and the continuous need to hire skilled, competent, and personnel.

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Regional – Segment Analysis:

Based on the region, the North America region is expected to capture a significant market share in the global applicant tracking system market. The enterprises in the region are continually investing in R&D activities to establish advanced technologies. Furthermore, the countries in the region have robust economies that adopt solutions such as ATS faster than other regions.

Top Market Players

Various notable players operating in the market include Oracle Corporation, IBM Corporation, SAP, Cornerstone OnDemand, ADP, LLC., iCIMS, Jobvite Inc., SilkRoad Technology, PeopleFluent, and Paycoramong, among others. 

Key Developments:

• • In 2019, ADP entered into a partnership with LinkedIn Recruiter System Connect in order to boost the accuracy and efficiency of the recruiters and streamline the process of recruitment.

Segments covered in the Report:

The global applicant tracking system market has been segmented on the basis of component, deployment type, enterprise size, end user, and regions. Based on Component, the market is segmented into software and services. Based on deployment type, the market is segmented into on-premise and cloud. On the basis of enterprise size, the market is bifurcated into SMEs and large enterprises. By end user, the market is segmented into BFSI, IT & telecom, retail, government, manufacturing, healthcare, and others. 

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Key questions answered in this research report:

• • At what pace is global applicant tracking system market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Applicant Tracking System Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the Global Applicant Tracking System Market?
  • Which component generated maximum revenues in 2019 and identify the most promising component during the forecast period?
  • What are the various end users of Global Applicant Tracking System Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Applicant Tracking Systems Market by Component

• • Software
  • Services

Global Applicant Tracking Systems Market by Deployment Type

• • On-premise
  • Cloud

Global Applicant Tracking Systems Market by Enterprise Size

• • SMEs
  • Large Enterprises

Global Applicant Tracking Systems Market by End User

• • BFSI
  • IT & Telecom
  • Retail
  • Government
  • Manufacturing
  • Healthcare
  • Others

Global Applicant Tracking Systems Market by Region

• • North America Applicant Tracking Systems Market (Option 1: As a part of the free 25% customization)
    • North America Market by Component
    • North America Market by Deployment Type
    • North America Market by Enterprise Size
    • North America Market by End User
    • US Market All Up
    • Canada Market All Up
  • Europe Applicant Tracking Systems Market (Option 2: As a part of the free 25% customization)
    • Europe Market by Component
    • Europe Market by Deployment Type
    • Europe Applicant Tracking System Market by Enterprise Size
    • Europe Market by End User
    • UK Market All Up
    • Germany Market All Up
    • France Market All Up
    • Spain Market All Up
    • Rest of Europe Market All Up
  • Asia-Pacific Applicant Tracking Systems Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Component
    • Asia-Pacific Market by Deployment Type
    • Asia-Pacific Market by Enterprise Size
    • Asia-Pacific Market by End User
    • China Market All Up
    • India Market All Up
    • Japan Market All Up
    • Rest of Asia-Pacific Market All Up
  • RoW Applicant Tracking Systems Market (Option 4: As a part of the free 25% customization)
    • RoW Market by Component
    • RoW Market by Deployment Type
    • RoW Market by Enterprise Size
    • RoW Market by End User
    • Brazil Market All Up
    • South Africa Market All Up
    • Saudi Arabia Market All Up
    • UAE Market All Up
    • Rest of world (remaining countries of the LAMEA region) Market All Up

Major Players Operating in the Applicant Tracking System (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Oracle Corporation
  • IBM Corporation
  • SAP
  • Cornerstone OnDemand
  • ADP, LLC.
  • iCIMS
  • Jobvite Inc.
  • SilkRoad Technology
  • PeopleFluent
  • Paycor