DUBLIN--(BUSINESS WIRE)--The "Applicant Tracking System Market By Deployment, By Offerings, By Organization Size, By End-User, And Segment Forecasts To 2027" report has been added to ResearchAndMarkets.com's offering.
The growth of the market is driven by various factors, such as the surging global demand for cloud-based applicant tracking systems and time-efficient selection systems.
The Applicant Tracking System (ATS) Market is expected to reach USD 2.22 Billion by 2027. Applicant Tracking System is a software that implements the task of shortlisting candidates by selecting their resumes. With benefits like scheduling interviews and candidate tracking, this software helps in handling the recruitment process effortlessly.
The increase in market growth is mainly associated with the adoption of advanced cloud technology services that allow thousands of customers access to similar resources, helping companies cut down on expenses. Based on statistics, the penetration of advanced cloud-based platforms that help develop new technologies is also a significant factor propelling market demand.
Companies are competing and adapting various strategic methods to develop more innovative products and mark their presence in the marketplace. Applicant tracking software solutions help businesses promote themselves through brand knowledge marketing, especially for qualified job seekers.
Due to the presence of advanced economies, like the United States (U.S.) and Canada in the region, North America is estimated to hold the largest share of 47.3% in 2019. It is the most developed region in the ATS market, as almost all large enterprises in the industry are based in this region. The key factor driving the market growth in this region is the growing investment from several organizations for technological advancement to gain a competitive advantage and enhance business operations.
Further key findings from the report suggest
- The Applicant Tracking System (ATS) Market is estimated to reach USD 2.22 Billion by 2027, progressing at a CAGR of 7.4% during the forecast period.
- The service segment is anticipated to grow at a higher rate of 8.2% during the forecast period.
- The demand for the services is increasing, along with the growing adoption of applicant tracking software among industries.
- Cloud deployment is anticipated to witness a higher CAGR of 8.2% over the forecast period.
- The telecommunications and IT end-user segment accounted for the largest share of 27.3% in 2019. The segment is evolving with the rapidly transforming technologies, facilitating the rising need to hire qualified and experienced employees.
- Applicant tracking systems help organizations when the job market is changing, and there is a rising competition among recruiters for attracting, sourcing, and procuring talent.
- The Large Enterprises segment accounted for a considerable share of 63.8% of the market in 2019.
- With the help of applicant tracking systems, recruiters and HR personnel can manage communication, promote open positions, improve the company brand, perform analytics, collect data, and control employee referrals.
- Every business from small to large enterprises can benefit by incorporating an applicant tracking system into their hiring process.
- APAC is projected to be the fastest-growing market with the highest rate of 8.4% over the forecast period. The drivers for the growth of the regional market are the presence of leading players and the rising use of technology in emerging countries like India and China, along with several initiatives taken by governments.
Key Topics Covered:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Applicant Tracking System (ATS) Market Segmentation & Impact Analysis
Chapter 5. Applicant Tracking System (ATS) Market By Organization size Insights & Trends
Chapter 6. Applicant Tracking System (ATS) Market By Offerings Insights & Trends
Chapter 7. Applicant Tracking System (ATS) Market By Deployment, Insights & Trends
Chapter 8. Applicant Tracking System (ATS) Market By End User Insights & Trends
Chapter 9. Applicant Tracking System (ATS) Market By Regional Outlook
Chapter 10. Competitive Landscape
10.1. Market Revenue Share By Manufacturers
10.2. Manufacturing Cost Breakdown Analysis
10.3. Mergers & Acquisitions
10.4. Market positioning
10.5. Strategy Benchmarking
10.6. Vendor Landscape
Chapter 11. Company Profiles
- IBM Co.nerstone
- SilkRoad Technology
- Racarie Software
- Greenhouse Software
- Ultimate Software
- ATS OnDemand
For more information about this report visit https://www.researchandmarkets.com/r/568jcp
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