Applicant Tracking Market, By Component (Software, Services, Training, Support and Maintenance, Integration & Implementation), By Consulting Deployment (On-premises and Cloud), By Organization Size (Small & Medium Enterprises and Large Enterprises), By End-use Outlook (IT & Telecommunication, BFSI, Healthcare & Life Sciences, Consumer Goods & Retail, Manufacturing and Others), By Region – Global Analysis Forecast Till 2030

Applicant Tracking System Market size was valued at USD 2.33 Billion in 2021 and is projected to reach USD 4.60 Billion by 2030, growing at a CAGR of 6.85% from 2023 to 2030.

The software component known as the Applicant tracking system is used by many businesses to control how the hiring process is handled electronically. The database is heavily used to store and collect resumes, and after scanning and indexing, it gives recruiters access to the web view. The recruiting process is automated, allowing for more accurate processing of the huge number of data and job components.

An organization's job opportunities, applicants’ resumes, and clients are organized and tracked using an applicant tracking system (ATS), which is talent management software. The data in the software's database speeds up the recruiting process by completing a preliminary analysis and selecting only eligible and worthy applicants for a position. Through the ATS, managers may also set up interviews, send rejection letters, and manage the relevant documentation online. It attempts to lighten the strain on recruiters and offer a central location for candidate information. Additionally, ATS helps to cut down on the amount of time spent on administrative activities, provides quicker resume screening, and facilitates collaborative recruiting, improving the applicant experience all around.

Market Dynamics

Drivers:

Software utilized across a variety of sectors, including BFSI, manufacturing, telecom & IT, consumer goods & retail, healthcare & life sciences, energy & utilities, transportation & logistics, and others, can be credited with the market expansion. The main element causing the need for ATS is the rise in automation across several sectors. It can lower labor costs while improving the likelihood of finding skilled workers. Maintaining spreadsheets with all the candidates' information by hand is difficult for recruiters. Even yet, using a mix of database apps and workflow tools, ATS can swiftly process applications via a significant quantity of data.

Restraints:

The development of recruiting software has had a substantial impact on the nature of recruitment and selection. HR recruiters encounter difficulties using ATS software because they lack the necessary IT skills. As a result, the recruitment sector needs to adapt its skill set to keep up with the changing nature of jobs across industries. To properly use ATS software, the recruiting team has to receive the appropriate training and instruction. As a result, the expansion of the ATS industry is anticipated to be constrained by a shortage of ability among HR professionals.

Key players:

• ADP
• ATS OnDemand
• BambooHR
• Breezy HR
• Bullhorn
• CEIPAL
• ClearCompany
• Cornerstone
• Greenhouse Software
• IBM
• iCMIS
• JazzHR
• Jobvite
• Lever
• Oracle
• Paycor
• PeopleFluent
• SAP
• Silkroad Technology
• Skeeled
• SmartRecruiters
• TalentNest
• Trakstar Hire
• Ultimate Software
• Workday

Market Segmentation:

Applicant Tracking Market, By Component

• Software
• Services
  • Training, Support & Maintenance
  • Integration & Implementation
  • Consulting

 Applicant Tracking Market, By Deployment

• • On-premises
  • Cloud

 Applicant Tracking Market, By Organization Size

• • Small & Medium Enterprises
  • Large Enterprises

 Applicant Tracking Market, By End-use

• • IT & Telecommunication
  • BFSI
  • Healthcare & Life Sciences
  • Consumer Goods & Retail
  • Manufacturing
  • Others

Applicant Tracking Market, By Region

• • North America
  • EU
  • Asia Pacific
  • Central & South America
  • Middle East and Africa (MEA)

Regional Analysis:

North America is the region that contributes the most revenue to the global applicant tracking system market since it is home to the majority of the world's major organizations. Additionally, the industry is growing due to the increased use of mobile phones in the hiring process. For instance, TalentBoard estimates that 36% of job applicants in North America would submit their applications via a mobile device in 2020.

In addition, Asia Pacific is predicted to see the applicant tracking system industry's highest rate of market expansion. Due to the rapid population expansion in this area, several applications are received for each open position. In this scenario, recruiting procedures are being actively automated by recruiters from various sectors in the area. For instance, over 1,000 companies in the construction, healthcare, manufacturing, retail, and professional services sectors trust the Unit4 Prosoft ATS system, which caters to clients throughout Asia.

Scope of the Report:

User

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