Global Applicant Tracking Software Market Size By Deployment (On-Premises and Cloud), By Organization Size (SMEs and Large Enterprises), By Vertical (BFSI, IT And Telecommunications, Government and Public Sector, Retail and Consumer Goods, Manufacturing, Healthcare and Life Sciences), By Geographic Scope And Forecast

Applicant Tracking Software Market Size And Forecast

Applicant Tracking Software Market size was valued at USD 1.39 Billion in 2020 and is projected to reach USD 2.76 Billion by 2028, growing at a CAGR of 8.6% from 2021 to 2028.

The increasing need to automate recruitment processes is a need and thus driving the Global Applicant Tracking Software Market. Moreover, the growing demand for Applicant Tracking Software in developed economies coupled with the integration of social media with an Applicant Tracking Software is boosting the global market. The Global Applicant Tracking Software Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Applicant Tracking Software Market Definition

An Applicant Tracking Software is an application-based software that allows the electronic handling of recruitment needs. These systems are often accessed online by enterprises at different levels counting on the company’s needs, allowing companies to collate and analyze job applicant data. An Applicant tracking system is also referred to as a candidate management system, the software is used by large enterprises to recruit employees more effectively.

ATS permits post job openings on a company website or job board for screening resumes also for generating interview requests for meritorious candidates via e-mail. Automated resume ranking, pre-screening questions, individual applicant tracking, acknowledgment tracking, multilingual capabilities requisition tracking, and customized input forms are various features introduced within the software.

Firstly, information present within the database is employed for screening candidates; subsequently, applicant testing, scheduling interviews, checking references, managing the hiring process, and completing paperwork also comes under this process. The data is collected from internal applications through ATSs or extracted from social networking websites such as Twitter, LinkedIn, Facebook, etc.

Global Applicant Tracking Software Market Overview

Let's face it, the demand for Applicant Tracking Software is booming because we need to automate recruiting. HR departments, whether in the government or private sector, are feeling the heat to become more efficient. Think about itmanually posting jobs on tons of sites? A total time-suck! It's hard to keep track of applications and keep candidate info consistent when you're doing everything by hand. Plus, downloading resumes from job boards and social media? That becomes a massive, tangled mess. That's why ATS software and services are lifesavers, helping organizations streamline things and cut down on those crazy recruitment costs.

Moreover, features such as speeding up the recruitment process, increasing efficiency, lower cost-per-hire, upgrading HR team communication, sorting applicant data, and automating whole procedure features such as speeding up the recruitment process, increasing efficiency, lower cost-per-hire, upgrading HR team communication, sorting applicant data, and automating whole procedure are factor projected to drive the growth of the Applicant Tracking Software Market. Moreover, the growing demand for applicant tracking software in developed economies coupled with the integration of social media with applicant tracking software is boosting the global market.

Okay, so here's the thingthere are some hurdles in the road that could slow down the growth of the market. For example, a lot of people just aren't aware of all the great benefits of using an ATS. That's definitely holding things back. Plus, these systems can be really complicated to integrate, and trying to add in things like AI and IoT solutions to what's already there? That's a tough task, and it's limiting growth. And let's not forget about security! All these worries about privacy when you're using cloud-based software are a real concern, and they're putting a damper on the whole Applicant Tracking Software Market. However, it's not all bad news! New tech is always coming out, and when these software programs work well with social media platforms to make applicant tracking easier, that can create some awesome opportunities for growth.

The growth in social networking is driven by the growing penetration of smartphones globally, as smartphone apps and mobile internet access have facilitated the proliferation of mobile-first or mobile-only social networking apps. Moreover, social media’s tremendous expansion is creating opportunities in the terms of hiring and recruitment. It has witnessed significant approval across organizations, wherein the organizations communicate with their candidates through social media networks. Further, Emerging Need for Analytics Metrics and untapped potential in emerging markets offer lucrative growth opportunities for the Applicant Tracking Software Market.

Global Applicant Tracking Software MarketSegmentation Analysis

The Global Applicant Tracking Software Market is segmented based on Deployment, Organization Size, Vertical, and Geography.

Applicant Tracking Software Market, By Deployment

• On-Premises
• Cloud

Based on Deployment, the market is bifurcated into On-Premises and Cloud. The cloud deployment segment holds the largest market share during the forecast period. The substantial growth in data generation and the use of upgraded technologies, such as the Internet of Things (IoT) and analytics are accelerating the greater adoption of the cloud deployment type, owing to the advantages of organized storage, and ready availability of data when needed.

Applicant Tracking Software Market, By Organization Size

• SMEs
• Large Enterprises

Based on Organization Size, the market is segmented into SMEs and Large Enterprises. The large enterprise segment holds the largest market share during the forecast period. The candidate acquisition process is more complex in the case of large institutions and companies. The integration of advanced ATS software with the existing system is a major challenge faced by many large enterprises, which can be easily solved with the help of the training, robust integration, and support services offered by ATS software.

Applicant Tracking Software Market, By Vertical

• BFSI
• IT And Telecommunications
• Government and Public Sector
• Retail and Consumer Goods
• Manufacturing
• Healthcare and Life Sciences
• Others

Based on Vertical, the market is bifurcated into BFSI, IT And Telecommunications, Government and Public Sector, Retail and Consumer Goods, Manufacturing, Healthcare and Life Sciences, and Others. The IT and telecommunications vertical segments hold the largest market share. The IT and telecommunications vertical employs a large number of expertise, especially in the developed countries and APAC regions. The jobs market in the IT and telecommunications vertical is booming, considering the fast-changing landscape of technologies and the constant need to hire competent and skilled personnel.

Applicant Tracking Software Market, By Geography

•  North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Geography, the Global Applicant Tracking Software Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America holds the largest market share. Enterprises in the US and Canada are continuously investing in R&D activities to introduce new and advanced technologies. Moreover, these countries have strong economies and are adopting ATS software coupled with ongoing projects that will boost the market in the North American region.

Key Players

The “Global Applicant Tracking Software Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are ApplicantStack, Oracle Corporation, iCIMS, Inc., Workable Software Ltd., Hyrell, Bullhorn, Inc., ClearCompany, Greenhouse Software, Inc., Jobvite Inc., Automatic Data Processing, Inc. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In June 2020, Workday, Inc. reported the accessibility of Workday People Analytics. This recently evolved expanded examination application distinguishes critical dangers and openings with respect to an organization’s potential competitor base and conveys these experiences in a story structure. These experiences enable business pioneers and HRs to settle on better individual choices quicker to shape business results.
• In June 2020, Workday, Inc. reported that it is extending operations into Mexico, with another nation director. The administration’s accomplices are prepared to help the organization arrangements in the country. New clients will join in excess of 250 worldwide organizations presently conveying Workday in Mexico, including GE, Nissan, HP Inc., and Santander. As a component of the cooperative Workday arrangements, clients share thoughts and effectively draw in with employing groups on creative selecting thoughts.
• In May 2020, Jobvite Inc. reported a partnership with Ultimate Software, empowering position spotters to see and evaluate a huge scope of representative information and interfacing their enlisting endeavors to post-enlist execution. With the assistance of this association, Jobvite offers stage-to-stage combinations between its product and Ultimate Software’s human resources the executive’s arrangements.
• In May 2020, Jobvite Inc. distributed a report on how the COVID-19 pandemic has changed the jobseeker’s disposition. The report’s near information uncovered, obviously, the feelings of anxiety at work have expanded essentially, and that work market insight has changed impressively.
• In January 2020, AI enrollment startup Talview declared that it had become an integration partner with LinkedIn’s candidate global positioning framework, Talent Hub. LinkedIn’s Talent Hub permits organizations to source, oversee, and employ competitors from one source, and Talview’s live talking contributions are presently coordinated into the LinkedIn Talent Hub experience.

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We'll dive deep into the market using both qualitative and quantitative analysis, breaking it down by segments based on everything from economics to those harder-to-measure factors. You'll get the market value in USD Billion for each of those segments and sub-segments, and we'll point out the region and segment we think are going to be the growth superstars, the ones to watch! We'll also analyze each region separately, focusing on how much of the product/service they're using and what's driving the market there. Plus, we'll provide a competitive landscape view, showing you where the big players rank and detailing all the exciting stuff they've been up to latelynew product launches, partnerships, expansions, and acquisitions over the last five years. Expect detailed company profiles, too, complete with an overview, insights, product benchmarking, and a good old-fashioned SWOT analysis for the major players. And finally, we will provide the...