[250 Pages Report] Newly-released Applicant Tracking System Market analysis report by Future Market Insights shows that global sales of the Applicant Tracking System Market in 2022 held at USD 2.1 Billion. With 5.3%, the projected market growth from 2022 to 2032 is expected to be slightly higher than the historical growth. Software is expected to be the highest revenue-generating segment, projected to grow at a CAGR of over 5.2% from 2022 to 2032.
| Attributes | Details |
|---|---|
| Applicant Tracking System Market CAGR (2022 to 2032) | 5.3% |
| Applicant Tracking System Market Size (2022) | USD 2.1 Billion |
| Applicant Tracking System Market Size (2032) | USD 3.8 Billion |
| USA Market CAGR (2022 to 2032) | 4.2% |
| Key Companies Covered | International Business Machines Corporation; Icims; Oracle; PeopleFluent; Cornerstone; Greenhouse Software; Trakstar Hire; PeopleFluent; SmartRecruiters; Jobvite; ClearCompany; SmartRecruiters |
As per the Global Applicant Tracking System Market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market value of the Applicant Tracking System Market increased at around 6.1% CAGR. Many candidates encounter less-than-ideal circumstances during their job searches. According to the Talent Board, North America's candidate dissatisfaction climbed by 40% in 2016. Businesses may offer a better candidate experience and avoid candidate dissatisfaction with an applicant monitoring system.
It offers a more straightforward application procedure, a mechanism for job seekers to track the status of their applications, and improved communication throughout the hiring process. One way to ensure fast communication is to use applicant tracking software. Dashboards and notifications assist hiring managers and recruiters in keeping communication at the forefront of their minds.
Positive candidate experiences increased by 52% when HR teams defined the post-interview activities and followed up with applicants in accordance with the predetermined timeline, according to the 2020 North American Candidate Experience Research Report. As a result, applicant tracking systems software ensures that relationships between recruiters and prospects are positive.
There are more job opportunities in the IT and telecommunication sector as a result of the ongoing need for skilled personnel and the rapid evolution of technologies. In order to fill the growing demand for jobs, IT and communications solution providers are employing ATS software to reduce the talent gap.
To eliminate prejudice and automate the review and publication of job applications on several job boards, applicant tracking systems combine data mining and natural language processing. Due to the fusion of numerous technologies, the market trends for applicant tracking systems have made software generally accessible. Two examples of these trends are the use of cloud computing and artificial intelligence.
For instance, Modern Hire., a supplier of video interviewing, pre-hire exams, and applicant tracking software, unveiled an AI-driven Automated Interview Creator in March 2022. HR and recruiters will benefit from the technology as they try to increase the accuracy and relevance of their work. Utilizing the technology would also help recruiters conduct engaging application interviews and moral hiring decisions.
To ensure secure data and facilitate system transfer, large organizations are choosing to purchase from, communicate, and engage with providers of applicant tracking systems. For instance, IBM sold its talent acquisition suite to Infinite Computer Solutions Limited in October 2021. With the help of this program, new hires are hired and onboarded.
Infinite Computer Solutions Limited will gain access to a SaaS-based platform to attract top talent prospects and streamline the hiring process as a result of this acquisition. In order to expand the capabilities of the company, HireLogic, a supplier of AI-powered hiring software platforms, raised USD 4 Million in early funding in May 2022. Large organizations would profit from the company's candidate tracking system and video conferencing platforms since they would make organized interviews, data-driven hiring decisions, and resume ranking possible.
Large businesses are using applicant tracking systems and expanding their operations through job opportunities and candidates, recognizing certain competencies and talents that correspond with their goals and values. An applicant tracking system might make it easier to gather, store, and manage applications for these organizations.
These businesses need a support system to help them with the hiring process. For instance, a media holding company in the USA named G/O Media Inc. reported in April 2022 that applicant tracking systems are used by 75% of recruiters for the hiring process and by 99% of large businesses to set themselves apart from the competition. This enables the resume to pass through the applicant tracking systems and land in the hands of a human recruiter.
When designed and implemented on new or existing infrastructure, the applicant tracking systems paradigm presents a variety of design and implementation issues. The model forces organizations' IT departments to review their network security strategies in order to transition from a network perimeter-based strategy to a user and application-based security model. It could require significant time and effort to redesign and develop web and mobile applications. To transition to the new IT security model, a thorough network analysis of services, network gear, and traffic is necessary as the majority of networks were not developed with cybersecurity in mind. Before using the applicant tracking systems software to re-evaluate the hiring process, it is crucial to have a precise and thorough awareness of every user, application, device, and resource.
As a result of technological advancements affecting HR, a shifting set of skills is required to assure relevance with job advertisements. HR managers struggle to fully adopt new applicant tracking systems as they lack the necessary IT skills and software knowledge. The HR team needs the right training in order to use the applicant tracking systems effectively. As a result, it is projected that the lack of experience and limited technical skills will be a barrier to successfully adopting applicant tracking systems software across enterprises.
During the projection period, North America is projected to be the leading market applicant tracking system. To improve business solutions and give priority to resource planning in the cloud, Microsoft Corporation and Workday Inc. forged a strategic collaboration in May 2020. This will allow clients to use it to effectively complete their everyday responsibilities.
Customers of Workday will be able to use Workday Adaptive Planning on the Azure cloud as a result of this agreement. In order to hasten the decision-making process, Microsoft will also employ Workday Adaptive Planning for its financial teams' planning and forecasting. The region is expected to experience an increase in technological developments, strategic collaborations, and knowledge sharing.
The USA is expected to account for the highest market of USD 1.2 Billion by the end of 2032. Also, the market in the country is projected to account for an absolute dollar growth of USD 400 Million. In order to improve operations and obtain a competitive advantage, USA firms are making greater investments in cutting-edge technology. For instance, in March 2022, the USA-based provider of recruiting software iCIMS acquired Candidate.ID provides a lead-scoring application monitoring system to help clients better evaluate and comprehend their talent. This acquisition would also allow iCIMS to expand its customer base and operations in the USA with the aid of applicant tracking systems solutions.
Market revenue through applicant tracking software is forecasted to grow at a CAGR of over 5.2% from 2022 to 32. The increase is due to the applicant tracking systems software's ability to be customized and adjusted to meet end-user requirements. The application collects and maintains resumes in its database for easy access by recruiters. Despite being created for businesses, applicant tracking systems allow organizations to modify the software to suit their end-use requirements. For instance, the American hiring company UKG Inc. and the cloud-based recruiting software platform iCIMS announced their partnership in April 2021.
The collaboration will enable iCIMS to improve accuracy and data quality, save employee data, hasten decision-making, and simplify internal mobility. The company's applicant tracking systems platform allows hiring managers and recruiters to transmit new hire insights, which instantly synchronizes the employee data to enhance processes for transfers, new engagements, and rehires.
Players in the market are constantly developing improved analytical solutions as well as extending their product offerings. The companies in the Applicant Tracking System market are focused on their alliances, technology collaborations, and product launch strategies.
Some of the recent developments of key Applicant Tracking System providers are as follows:
Similarly, recent developments related to companies in Applicant Tracking System Market have been tracked by the team at Future Market Insights, which are available in the full report.
Table 1: Global Market Value (US$ Million) Forecast by Region, 2017 to 2032
Table 2: Global Market Value (US$ Million) Forecast by Component, 2017 to 2032
Table 3: Global Market Value (US$ Million) Forecast by Deployment, 2017 to 2032
Table 4: Global Market Value (US$ Million) Forecast by Organization Size, 2017 to 2032
Table 5: Global Market Value (US$ Million) Forecast by End-use, 2017 to 2032
Table 6: North America Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 7: North America Market Value (US$ Million) Forecast by Component, 2017 to 2032
Table 8: North America Market Value (US$ Million) Forecast by Deployment, 2017 to 2032
Table 9: North America Market Value (US$ Million) Forecast by Organization Size, 2017 to 2032
Table 10: North America Market Value (US$ Million) Forecast by End-use, 2017 to 2032
Table 11: Latin America Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 12: Latin America Market Value (US$ Million) Forecast by Component, 2017 to 2032
Table 13: Latin America Market Value (US$ Million) Forecast by Deployment, 2017 to 2032
Table 14: Latin America Market Value (US$ Million) Forecast by Organization Size, 2017 to 2032
Table 15: Latin America Market Value (US$ Million) Forecast by End-use, 2017 to 2032
Table 16: Europe Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 17: Europe Market Value (US$ Million) Forecast by Component, 2017 to 2032
Table 18: Europe Market Value (US$ Million) Forecast by Deployment, 2017 to 2032
Table 19: Europe Market Value (US$ Million) Forecast by Organization Size, 2017 to 2032
Table 20: Europe Market Value (US$ Million) Forecast by End-use, 2017 to 2032
Table 21: Asia Pacific Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 22: Asia Pacific Market Value (US$ Million) Forecast by Component, 2017 to 2032
Table 23: Asia Pacific Market Value (US$ Million) Forecast by Deployment, 2017 to 2032
Table 24: Asia Pacific Market Value (US$ Million) Forecast by Organization Size, 2017 to 2032
Table 25: Asia Pacific Market Value (US$ Million) Forecast by End-use, 2017 to 2032
Table 26: MEA Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 27: MEA Market Value (US$ Million) Forecast by Component, 2017 to 2032
Table 28: MEA Market Value (US$ Million) Forecast by Deployment, 2017 to 2032
Table 29: MEA Market Value (US$ Million) Forecast by Organization Size, 2017 to 2032
Table 30: MEA Market Value (US$ Million) Forecast by End-use, 2017 to 2032
Figure 1: Global Market Value (US$ Million) by Component, 2022 to 2032
Figure 2: Global Market Value (US$ Million) by Deployment, 2022 to 2032
Figure 3: Global Market Value (US$ Million) by Organization Size, 2022 to 2032
Figure 4: Global Market Value (US$ Million) by End-use, 2022 to 2032
Figure 5: Global Market Value (US$ Million) by Region, 2022 to 2032
Figure 6: Global Market Value (US$ Million) Analysis by Region, 2017 to 2032
Figure 7: Global Market Value Share (%) and BPS Analysis by Region, 2022 to 2032
Figure 8: Global Market Y-o-Y Growth (%) Projections by Region, 2022 to 2032
Figure 9: Global Market Value (US$ Million) Analysis by Component, 2017 to 2032
Figure 10: Global Market Value Share (%) and BPS Analysis by Component, 2022 to 2032
Figure 11: Global Market Y-o-Y Growth (%) Projections by Component, 2022 to 2032
Figure 12: Global Market Value (US$ Million) Analysis by Deployment, 2017 to 2032
Figure 13: Global Market Value Share (%) and BPS Analysis by Deployment, 2022 to 2032
Figure 14: Global Market Y-o-Y Growth (%) Projections by Deployment, 2022 to 2032
Figure 15: Global Market Value (US$ Million) Analysis by Organization Size, 2017 to 2032
Figure 16: Global Market Value Share (%) and BPS Analysis by Organization Size, 2022 to 2032
Figure 17: Global Market Y-o-Y Growth (%) Projections by Organization Size, 2022 to 2032
Figure 18: Global Market Value (US$ Million) Analysis by End-use, 2017 to 2032
Figure 19: Global Market Value Share (%) and BPS Analysis by End-use, 2022 to 2032
Figure 20: Global Market Y-o-Y Growth (%) Projections by End-use, 2022 to 2032
Figure 21: Global Market Attractiveness by Component, 2022 to 2032
Figure 22: Global Market Attractiveness by Deployment, 2022 to 2032
Figure 23: Global Market Attractiveness by Organization Size, 2022 to 2032
Figure 24: Global Market Attractiveness by End-use, 2022 to 2032
Figure 25: Global Market Attractiveness by Region, 2022 to 2032
Figure 26: North America Market Value (US$ Million) by Component, 2022 to 2032
Figure 27: North America Market Value (US$ Million) by Deployment, 2022 to 2032
Figure 28: North America Market Value (US$ Million) by Organization Size, 2022 to 2032
Figure 29: North America Market Value (US$ Million) by End-use, 2022 to 2032
Figure 30: North America Market Value (US$ Million) by Country, 2022 to 2032
Figure 31: North America Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 32: North America Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 33: North America Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 34: North America Market Value (US$ Million) Analysis by Component, 2017 to 2032
Figure 35: North America Market Value Share (%) and BPS Analysis by Component, 2022 to 2032
Figure 36: North America Market Y-o-Y Growth (%) Projections by Component, 2022 to 2032
Figure 37: North America Market Value (US$ Million) Analysis by Deployment, 2017 to 2032
Figure 38: North America Market Value Share (%) and BPS Analysis by Deployment, 2022 to 2032
Figure 39: North America Market Y-o-Y Growth (%) Projections by Deployment, 2022 to 2032
Figure 40: North America Market Value (US$ Million) Analysis by Organization Size, 2017 to 2032
Figure 41: North America Market Value Share (%) and BPS Analysis by Organization Size, 2022 to 2032
Figure 42: North America Market Y-o-Y Growth (%) Projections by Organization Size, 2022 to 2032
Figure 43: North America Market Value (US$ Million) Analysis by End-use, 2017 to 2032
Figure 44: North America Market Value Share (%) and BPS Analysis by End-use, 2022 to 2032
Figure 45: North America Market Y-o-Y Growth (%) Projections by End-use, 2022 to 2032
Figure 46: North America Market Attractiveness by Component, 2022 to 2032
Figure 47: North America Market Attractiveness by Deployment, 2022 to 2032
Figure 48: North America Market Attractiveness by Organization Size, 2022 to 2032
Figure 49: North America Market Attractiveness by End-use, 2022 to 2032
Figure 50: North America Market Attractiveness by Country, 2022 to 2032
Figure 51: Latin America Market Value (US$ Million) by Component, 2022 to 2032
Figure 52: Latin America Market Value (US$ Million) by Deployment, 2022 to 2032
Figure 53: Latin America Market Value (US$ Million) by Organization Size, 2022 to 2032
Figure 54: Latin America Market Value (US$ Million) by End-use, 2022 to 2032
Figure 55: Latin America Market Value (US$ Million) by Country, 2022 to 2032
Figure 56: Latin America Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 57: Latin America Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 58: Latin America Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 59: Latin America Market Value (US$ Million) Analysis by Component, 2017 to 2032
Figure 60: Latin America Market Value Share (%) and BPS Analysis by Component, 2022 to 2032
Figure 61: Latin America Market Y-o-Y Growth (%) Projections by Component, 2022 to 2032
Figure 62: Latin America Market Value (US$ Million) Analysis by Deployment, 2017 to 2032
Figure 63: Latin America Market Value Share (%) and BPS Analysis by Deployment, 2022 to 2032
Figure 64: Latin America Market Y-o-Y Growth (%) Projections by Deployment, 2022 to 2032
Figure 65: Latin America Market Value (US$ Million) Analysis by Organization Size, 2017 to 2032
Figure 66: Latin America Market Value Share (%) and BPS Analysis by Organization Size, 2022 to 2032
Figure 67: Latin America Market Y-o-Y Growth (%) Projections by Organization Size, 2022 to 2032
Figure 68: Latin America Market Value (US$ Million) Analysis by End-use, 2017 to 2032
Figure 69: Latin America Market Value Share (%) and BPS Analysis by End-use, 2022 to 2032
Figure 70: Latin America Market Y-o-Y Growth (%) Projections by End-use, 2022 to 2032
Figure 71: Latin America Market Attractiveness by Component, 2022 to 2032
Figure 72: Latin America Market Attractiveness by Deployment, 2022 to 2032
Figure 73: Latin America Market Attractiveness by Organization Size, 2022 to 2032
Figure 74: Latin America Market Attractiveness by End-use, 2022 to 2032
Figure 75: Latin America Market Attractiveness by Country, 2022 to 2032
Figure 76: Europe Market Value (US$ Million) by Component, 2022 to 2032
Figure 77: Europe Market Value (US$ Million) by Deployment, 2022 to 2032
Figure 78: Europe Market Value (US$ Million) by Organization Size, 2022 to 2032
Figure 79: Europe Market Value (US$ Million) by End-use, 2022 to 2032
Figure 80: Europe Market Value (US$ Million) by Country, 2022 to 2032
Figure 81: Europe Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 82: Europe Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 83: Europe Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 84: Europe Market Value (US$ Million) Analysis by Component, 2017 to 2032
Figure 85: Europe Market Value Share (%) and BPS Analysis by Component, 2022 to 2032
Figure 86: Europe Market Y-o-Y Growth (%) Projections by Component, 2022 to 2032
Figure 87: Europe Market Value (US$ Million) Analysis by Deployment, 2017 to 2032
Figure 88: Europe Market Value Share (%) and BPS Analysis by Deployment, 2022 to 2032
Figure 89: Europe Market Y-o-Y Growth (%) Projections by Deployment, 2022 to 2032
Figure 90: Europe Market Value (US$ Million) Analysis by Organization Size, 2017 to 2032
Figure 91: Europe Market Value Share (%) and BPS Analysis by Organization Size, 2022 to 2032
Figure 92: Europe Market Y-o-Y Growth (%) Projections by Organization Size, 2022 to 2032
Figure 93: Europe Market Value (US$ Million) Analysis by End-use, 2017 to 2032
Figure 94: Europe Market Value Share (%) and BPS Analysis by End-use, 2022 to 2032
Figure 95: Europe Market Y-o-Y Growth (%) Projections by End-use, 2022 to 2032
Figure 96: Europe Market Attractiveness by Component, 2022 to 2032
Figure 97: Europe Market Attractiveness by Deployment, 2022 to 2032
Figure 98: Europe Market Attractiveness by Organization Size, 2022 to 2032
Figure 99: Europe Market Attractiveness by End-use, 2022 to 2032
Figure 100: Europe Market Attractiveness by Country, 2022 to 2032
Figure 101: Asia Pacific Market Value (US$ Million) by Component, 2022 to 2032
Figure 102: Asia Pacific Market Value (US$ Million) by Deployment, 2022 to 2032
Figure 103: Asia Pacific Market Value (US$ Million) by Organization Size, 2022 to 2032
Figure 104: Asia Pacific Market Value (US$ Million) by End-use, 2022 to 2032
Figure 105: Asia Pacific Market Value (US$ Million) by Country, 2022 to 2032
Figure 106: Asia Pacific Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 107: Asia Pacific Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 108: Asia Pacific Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 109: Asia Pacific Market Value (US$ Million) Analysis by Component, 2017 to 2032
Figure 110: Asia Pacific Market Value Share (%) and BPS Analysis by Component, 2022 to 2032
Figure 111: Asia Pacific Market Y-o-Y Growth (%) Projections by Component, 2022 to 2032
Figure 112: Asia Pacific Market Value (US$ Million) Analysis by Deployment, 2017 to 2032
Figure 113: Asia Pacific Market Value Share (%) and BPS Analysis by Deployment, 2022 to 2032
Figure 114: Asia Pacific Market Y-o-Y Growth (%) Projections by Deployment, 2022 to 2032
Figure 115: Asia Pacific Market Value (US$ Million) Analysis by Organization Size, 2017 to 2032
Figure 116: Asia Pacific Market Value Share (%) and BPS Analysis by Organization Size, 2022 to 2032
Figure 117: Asia Pacific Market Y-o-Y Growth (%) Projections by Organization Size, 2022 to 2032
Figure 118: Asia Pacific Market Value (US$ Million) Analysis by End-use, 2017 to 2032
Figure 119: Asia Pacific Market Value Share (%) and BPS Analysis by End-use, 2022 to 2032
Figure 120: Asia Pacific Market Y-o-Y Growth (%) Projections by End-use, 2022 to 2032
Figure 121: Asia Pacific Market Attractiveness by Component, 2022 to 2032
Figure 122: Asia Pacific Market Attractiveness by Deployment, 2022 to 2032
Figure 123: Asia Pacific Market Attractiveness by Organization Size, 2022 to 2032
Figure 124: Asia Pacific Market Attractiveness by End-use, 2022 to 2032
Figure 125: Asia Pacific Market Attractiveness by Country, 2022 to 2032
Figure 126: MEA Market Value (US$ Million) by Component, 2022 to 2032
Figure 127: MEA Market Value (US$ Million) by Deployment, 2022 to 2032
Figure 128: MEA Market Value (US$ Million) by Organization Size, 2022 to 2032
Figure 129: MEA Market Value (US$ Million) by End-use, 2022 to 2032
Figure 130: MEA Market Value (US$ Million) by Country, 2022 to 2032
Figure 131: MEA Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 132: MEA Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 133: MEA Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 134: MEA Market Value (US$ Million) Analysis by Component, 2017 to 2032
Figure 135: MEA Market Value Share (%) and BPS Analysis by Component, 2022 to 2032
Figure 136: MEA Market Y-o-Y Growth (%) Projections by Component, 2022 to 2032
Figure 137: MEA Market Value (US$ Million) Analysis by Deployment, 2017 to 2032
Figure 138: MEA Market Value Share (%) and BPS Analysis by Deployment, 2022 to 2032
Figure 139: MEA Market Y-o-Y Growth (%) Projections by Deployment, 2022 to 2032
Figure 140: MEA Market Value (US$ Million) Analysis by Organization Size, 2017 to 2032
Figure 141: MEA Market Value Share (%) and BPS Analysis by Organization Size, 2022 to 2032
Figure 142: MEA Market Y-o-Y Growth (%) Projections by Organization Size, 2022 to 2032
Figure 143: MEA Market Value (US$ Million) Analysis by End-use, 2017 to 2032
Figure 144: MEA Market Value Share (%) and BPS Analysis by End-use, 2022 to 2032
Figure 145: MEA Market Y-o-Y Growth (%) Projections by End-use, 2022 to 2032
Figure 146: MEA Market Attractiveness by Component, 2022 to 2032
Figure 147: MEA Market Attractiveness by Deployment, 2022 to 2032
Figure 148: MEA Market Attractiveness by Organization Size, 2022 to 2032
Figure 149: MEA Market Attractiveness by End-use, 2022 to 2032
Figure 150: MEA Market Attractiveness by Country, 2022 to 2032
The global Applicant Tracking System Market is worth more than USD 2.1 Billion at present.
The value of the Applicant Tracking System Market is projected to increase at a CAGR of around 5.3% from 2022 to 2032.
The value of the Applicant Tracking System Market increased at a CAGR of around 6.1% from 2017 to 2021.
The demand for Software has increased tremendously. The global demand for Applicant Tracking Systems is being fueled by a considerable increase in the use of social media platforms.
The growth of the Applicant Tracking System market in the US is projected to expand at a CAGR of around 4.2% from 2022 to 2032.
The growth of the market for Applicant Tracking System in China is projected to expand at a CAGR of around 6.2% from 2022 to 2032.
While the market in South Korea is expected to grow at nearly 5.7%, the market in Japan is projected to register a CAGR of nearly 4.7% from 2022 to 2032.
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