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Reasons for Tremendous Growth of Global Applicant Tracking System (ATS) Software Market during 2021 – 2029 - A Report by Absolute Markets Insights

Published On 14 Jun 2021 03:01 AM


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Global applicant tracking system (ATS) software market was valued at US$ 1409.24 million in 2020 and is expected to reach US$ 2765.14 million by 2029, growing at an estimated CAGR of 7.7% over the forecast period. The process of recruiting people was simplified ever since the applicant tracking system (ATS) came into existence and adopted by businesses. As this system is easy to use and can be accessed online from anywhere, they are today being used by most of companies. ATS was successful in streamlining the process of recruiting people that was considered extremely complex initially. This software takes care of every aspect of recruiting, right from posting job openings, generating interview requests to selected candidates to storing the data and analyzing it. The ATS has managed to automate recruitment process and this is why it is being extensively used across all industries irrespective of their size and nature of work.

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While the automation has been a boon for the mankind, even it has its flaws. The initial process of recruitment involved certain amount of communication between the person applying for the job and the one who is recruiting, and this is where the recruiter was able to gauge certain things from the responses of the applicant. These responses were helpful for the recruiter in making the decision, but ever since this software came into use, the recruitment process has become bit mechanical. The growth of the market could be affected by this factor. Hiring in a crisis is no easy thing. Initially, social distancing and stay-at-home policies made filling the positions for keeping companies afloat a challenging task. Remote recruiting was the go-to method for keeping the hiring process moving and protecting both the recruiters and candidates. However, a shift to virtual recruiting requires strong applicant tracking techniques and feature-rich solutions. Thus, the market is rising and is expected to rise exponentially after the COVID-19 crisis. Most companies moved to automation of hiring processes and virtual interviewing tools such as Microsoft Teams, Skype, Zoom, etc.

Majority of the applicant tracking system (ATS) software are cloud-based and as they do not require much setup, they are being rapidly adopted by smaller businesses. Additionally these applications and software are cost-efficient, and can be designed as per the requirements of the business. In the era of automation, where multiple businesses are run from a single place, for example, the concept of ghost kitchen, the ATS software is likely to be a must-have thing for the businesses in coming future.

The detailed research study provides qualitative and quantitative analysis of global Applicant Tracking System (ATS) Software Market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

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Key Findings of the Report:

  • The applicant tracking system (ATS) simplifies the recruitment process and also help the recruiter make a correct decision.
  • As this software can be deployed with the help of a cloud-based system, it is more feasible for the small businesses to use and hence the market has the highest CAGR from this segment of users
  • Bigger companies have a lengthy recruitment process and also have to deal with larger number of applicants. The use of ATS software helps them hire more people in less time and this is majority of the revenue for the global Applicant Tracking System (ATS) Software Market comes from large businesses
  • As the large businesses have comparatively higher volume of data and are prone to a cyber-attack, installation of the ATS software in the premise is a smarter option for them.
  • Some of the major players operating in the global Applicant Tracking System (ATS) Software Market include iCIMs, Avature, Greenhouse, Oracle, Lever, PeopleFluent, IBM Kenexa Brass Ring, Workday and SAP SuccessFactors amongst others.

 

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Global Applicant Tracking System (ATS) Software Market

  • By Organization Size
    • Small Businesses
    • Medium Businesses
    • Large Businesses
  • By Component
    • Software
    • Services
    • By Deployment Mode
      • Cloud Based
      • On-Premise
    • By Vertical
      • BFSI
      • IT and Telecommunications
      • Government and Public Sector
      • Retail and Consumer Goods
      • Manufacturing
      • Healthcare and Life Sciences
      • Others (Media and Entertainment, and Travel and Hospitality)
  • By Geography
  • North America
      • U.S.
      • Canada
      • Mexico
      • Rest of North America
  • Europe
      • France
      • The UK
      • Spain
      • Germany
      • Italy
      • Nordic Countries
        • Denmark
        • Finland
        • Iceland
        • Sweden
        • Norway
      • Benelux Union
        • Belgium
        • The Netherlands
        • Luxembourg
      • Rest of Europe
  • Asia Pacific
      • China
      • Japan
      • India
      • New Zealand
      • Australia
      • South Korea
      • Southeast Asia
        • Indonesia
        • Thailand
        • Malaysia
        • Singapore
        • Rest of Southeast Asia
      • Rest of Asia Pacific
  • Middle East & Africa
      • Saudi Arabia
      • UAE
      • Egypt
      • Kuwait
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
      • Brazil
      • Argentina
      • Rest of Latin America

 

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Press Release Provided By: Absolute Markets Insights