PUBLISHER: 360iResearch | PRODUCT CODE: 1466472
PUBLISHER: 360iResearch | PRODUCT CODE: 1466472
[183 Pages Report] The Applicant Tracking System Market size was estimated at USD 2.91 billion in 2023 and expected to reach USD 3.17 billion in 2024, at a CAGR 9.41% to reach USD 5.48 billion by 2030.
The Applicant tracking system (ATS) is a software application that aids organizations, businesses, and recruitment agencies organize, automate, and manage their recruitment processes. The increasing number of job applicants and need for automation of resume screening is driving the demand for applicant tracking systems. The growing adoption of SaaS tools by the companies has also improved the necessity of applicant tracking systems. The surging focus on enhancing candidates' experience cost-effectively has improved the adoption of applicant tracking systems. However, a lack of technologically updated staff and high software cost may limit the adoption of applicant tracking systems. Data privacy concerns associated with ATS software is also a concerning factor for the market growth. The growing investments on digitalizing the operations by companies in all verticals is creating growth potential in the market. The increasing number of product innovations based on AI and CRM is expected to create attractive opportunities for the market growth.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 2.91 billion |
Estimated Year [2024] | USD 3.17 billion |
Forecast Year [2030] | USD 5.48 billion |
CAGR (%) | 9.41% |
Component: Significant enhancements in Applicant Tracking System (ATS) softwares
The Applicant Tracking System (ATS) services manage business aspects such as live technical support, training, and consultation services provided by the software vendor. These services offer 24/7 customer service, prompt feedback, and issue resolution to ensure uninterrupted and smooth operations. Applicant tracking system software automates and streamlines recruitment workflows, helping businesses save time and achieve higher efficiency. Applicant tracking system software reduces the manual workload and also minimizes the chances of errors within the hiring process.
Organization Size: Rising adoption of applicant tracking systems in small & medium enterprises
Large scale enterprises primarily adopt applicant tracking systems due to complex and robust hiring needs, handling hundreds to thousands of applications at any given time. In large-scale enterprise, applicant tracking systems aid in managing the recruitment process by eliminating potential human error, automating routine tasks, identifying trends, and providing insightful reports. Applicant tracking systems streamline the recruitment process in SMEs by ensuring that no potential talent slips between the cracks of manual screening. Applicant tracking systems enable SMEs to effectively manage the recruitment process within budgetary constraints while addressing volume hiring, quality talent acquisition, and diversity goals.
Deployment Mode: Increasing inclination towards cloud based deployment of applicant tracking system
The cloud deployment of an applicant tracking system (ATS) is increasing as this model stores data on remote servers accessed via the internet rather than on local servers or personal computers. The cloud deployment offers an advantage as users can access information from any location and device with an internet connection, increasing flexibility and convenience in usage. The on-premises deployment of an ATS runs directly on users' local servers, allowing businesses to have full control over the system and the data therein. The on-premises deployment provides greater scope for companies to protect confidential & sensitive business information.
End-Use: Massive demand from the aerospace, defense, and automotives sectors due to a huge number of applicants
Applicant tracking systems (ATS) play a pivotal role across various end-user industries, each with distinct recruitment needs and regulatory demands. In the aerospace & defense sector, the ATS must manage the recruitment of highly specialized talent while adhering to stringent compliance standards. In the automobile industry, the focus is on attracting innovative engineers and skilled labor to drive advancements and maintain a competitive edge. The education & research field requires an ATS that can navigate the complexities of academic hiring, including faculty positions and research grants. For the electrical & electronics industry, recruitment systems must efficiently process large volumes of applicants for technical roles. The energy & mining sector benefits from an ATS that can recruit and track staff in remote and challenging environments, focusing on safety and specialized skills. Within IT & telecommunication, the ATS must keep pace with the fast-changing landscape, sourcing and retaining professionals with cutting-edge expertise. As each industry evolves, applicant tracking systems must adapt to the nuances and challenges of their respective fields, propelling efficiency and effectiveness in the hiring process.
Regional Insights
The Americas region shows substantial growth in the global applicant tracking systems market attributed to the region's well-established corporate sector and numerous key market players. The robust growth of industries such as IT, manufacturing, retail, and healthcare, combined with the increasing demand for automation in the hiring process, is expected to drive the ATS market growth in the Americas region. Market in the EMEA region is significantly driven by the increasing trend of digitization and the widespread adoption of cloud-based systems. The United Kingdom, Germany, and France are some of the prominent countries contributing to the growth of the ATS market in the EMEA region. The Asia-Pacific region is poised to exhibit a high growth rate, characterized by the rapid digital transformation of businesses and the increasing emphasis on streamlining the recruitment process. Countries such as India, China, and Japan are actively promoting the digitization of HR processes, thus providing a favorable business environment for the growth of the ATS market.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Applicant Tracking System Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Applicant Tracking System Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Applicant Tracking System Market, highlighting leading vendors and their innovative profiles. These include ADP, Inc., Arcoro, Avature Limited, Bamboo HR LLC, Breezy HR, Inc. by Learning Technologies Group, Bullhorn, Inc., Cegid Group, Ceipal Corp., ClearCompany, Inc., Cyclr Systems Ltd., Eddy HR, LLC., Employ, Inc., Freshworks Inc., GoHire Technologies LTD., Greenhouse Software, Inc., iCIMS, Inc., International Business Machines Corporation, Occupop Ltd., Oracle Corporation, Paycor, Inc., Pinpoint, Recruitee B.V. by Tellent, SAP SE, SilkRoad Technology, Inc. (Rival), Skillate by Sense Talent Labs, Inc., SmartRecruiters, Inc., TalentNest, Upteamizer by HRinFlow gcv, Workable Technology Limited, and Zoho Corporation Pvt. Ltd..
Market Segmentation & Coverage
1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
1. What is the market size and forecast of the Applicant Tracking System Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Applicant Tracking System Market?
3. What are the technology trends and regulatory frameworks in the Applicant Tracking System Market?
4. What is the market share of the leading vendors in the Applicant Tracking System Market?
5. Which modes and strategic moves are suitable for entering the Applicant Tracking System Market?