The applicant tracking system global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Applicant Tracking System Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The applicant tracking system market size has grown strongly in recent years. It will grow from $2.6 billion in 2023 to $2.79 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to automation of recruitment processes, compliance requirements, centralized candidate database, scalability.
The applicant tracking system market size is expected to see strong growth in the next few years. It will grow to $3.71 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to integration with hr software, mobile recruiting solutions, emphasis on diversity and inclusion, enhanced candidate experience, data security and compliance. Major trends in the forecast period include ai and machine learning, enhanced candidate experience, diversity and inclusion features, predictive analytics for recruitment, integration with hr software ecosystem.
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Scope Of Applicant Tracking System Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Applicant Tracking System Market Overview
Market Drivers –
The rising number of job applicants is expected to propel the growth of the applicant tracking system market going forward. Job applicants refer to individuals who have submitted their applications, typically in resumes, to be considered for employment opportunities within a company or organization. Applicant tracking systems can help job applicants by streamlining the application process, making it easier and faster to apply, and improving communication between job applicants and recruiters. For instance, as per Data and analysis from Census 2021 published by The Office for National Statistics, a UK-based statistics authority, the expected number of vacancies grew from 964000 (May to July 2021) to 1275000 (May to July 2022). Therefore, the rising number of job applicants is driving the growth of the applicant tracking system market.
Market Trends –
Major Companies operating in the applicant tracking system market are adopting new technologies, such as AI-powered application systems, to provide a better experience by making the application process more efficient and user-friendly. AI-powered applicant tracking system is designed to streamline recruitment and redefine talent acquisition by leveraging artificial intelligence (AI) technology. For instance, in August 2023, Centric Group Inc., a US-based software development company, launched Safaa ATS, an AI-powered applicant tracking system. It offers unique features, including AI-driven shortlisting, a fully branded job portal, cloud-based access, a pre-packaged intranet, customizable workflows, and cutting-edge features to streamline recruitment and redefine talent acquisition. These features are designed to simplify the recruitment process, improve efficiency, and provide a better candidate experience.
The applicant tracking system market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment Mode: On-premises, Cloud
3) By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
4) By Vertical: Banking Financial Services And Insurance (BFSI), Government, Manufacturing, Telecom And Information Technology (IT), Consumer Goods And Retail, Healthcare And Lifesciences, Energy And Utilities, Transportation And Logistics, Other Verticals
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Regional Insights –
North America was the largest region in the applicant tracking system market in 2023. The regions covered in the applicant tracking system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the applicant tracking system market report are International Business Machines Corporation, Oracle Corporation, SAP SE, Automatic Data Processing Inc., Workday Inc., Ultimate Kronos Group, Paycor HCM Inc., Bullhorn Inc., Cornerstone OnDemand Inc., iCIMS Inc., PeopleFluent Inc., Ceipal Corporation, Workable Technology Limited, BambooHR, SmartRecruiters Inc., Jobvite Inc., Lever, Trakstar Hire, Bullhorn Inc., ADR Inc., Silkroad Technology Inc., Greenhouse Software Inc., ClearCompany Inc., Hireku Inc., Symphony Talent LLC, TalentNest, ATS OnDemand
Table of Contents
1. Executive Summary
2. Applicant Tracking System Market Report Structure
3. Applicant Tracking System Market Trends And Strategies
4. Applicant Tracking System Market – Macro Economic Scenario
5. Applicant Tracking System Market Size And Growth
…..
27. Applicant Tracking System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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