LONDON--(BUSINESS WIRE)--The global application tracking systems market size is poised to grow at a CAGR of nearly 7% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The applicant tracking systems (ATS) is superior to traditional recruitment methods by means of three recruitment parameters, namely time to hire, cost per hire, and the quality of hire. The ATS method bypasses various steps such as newspaper ads, manual scrutinizing, and the requirement of large physical spaces for conducting interviews. Thus, the cost and time required in selecting a suitable candidate are significantly reduced. The ATS software is highly cost-efficient compared with the traditional approach as there are various package models available in the market. Flexible cost benefits and high ROI compared with the traditional approach are expected to drive the growth of the global applicant tracking systems market.
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As per Technavio, the ATS-integrated social media recruiting will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Application Tracking Systems Market: ATS-Integrated Social Media Recruiting
Some of the ATS vendors in the market are offering ATS tools that can be integrated with social media platforms such as Facebook, LinkedIn, and Twitter. The key benefits of integrating social media with a company’s ATS is that it expands the scope of the audience for a job, and thereby helps gain more applicants. For instance, ExactHire is an ATS vendor that offers HireCentric ATS that can be integrated with social media websites such as Facebook and Twitter. The followers of these social media websites would have visibility to any job listings posted on the website.
“Other factors such as the emergence of artificial intelligence (AI) in ATS, and the introduction of mobile ATS apps will have a significant impact on the growth of the application tracking systems market value during the forecast period,” says a senior analyst at Technavio.
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Application Tracking Systems Market: Segmentation Analysis
This market research report segments the application tracking systems market by deployment (cloud-based ATS and on-premises ATS) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2018, followed by EMEA and APAC respectively. The growth of the applicant tracking systems market share in the Americas can be attributed to several factors such as the growing need for smart and efficient recruiting and the increasing number of foreign student enrollments.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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