Applicant Tracking Systems Software Market Size Was Valued at USD 2.41 Billion in 2023, and is Projected to Reach USD 4.16 Billion by 2032, Growing at a CAGR of 6.25 % From 2024-2032.
An applicant tracking system organizes and automates the hiring process. Applicant tracking systems use machine learning and artificial intelligence to sort and filter applications, send follow-up emails and study candidates. Manual analysis of candidate submissions is becoming obsolete due to time, expense, and bias issues. An ATS provides actionable data and reduces recruiting time and expenses. To manage a company's hiring and recruitment process, an applicant tracking system gathers and stores candidates resumes in its database. After indexing and scanning, the system saves resumes in a database, providing recruiters with an online look at job seekers. Companies use applicant tracking systems to hire workers more quickly, post job openings on websites or job boards, review resumes, and email invitations to interviews with qualified candidates.
Strict employment laws and the increasing need for talent solutions—particularly in highly competitive labor markets—are important market factors. Small and medium-sized businesses are gradually using applicant tracking systems to streamline their hiring procedures. However, issues with integration and data protection continue to be a hindrance. The market for ATS software is predicted to continue expanding, with North America and Europe leading the way thanks to their advanced HR technology environments and emphasis on workforce optimization.
Some prominent players in the global system market include:
- ADP (USA)
- BambooHR (USA)
- Bullhorn (USA)
- Cornerstone OnDemand (USA)
- Greenhouse Software (USA)
- IBM (USA)
- iCIMS (USA)
- JazzHR (USA)
- Jobvite (USA)
- Oracle (USA)
- Paycor (USA)
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Competitive Analysis:
To increase efficiency and shelf life, the major firms are heavily concentrating on innovation in production technology. Assuring continual process improvements and having the financial flexibility to invest in the finest methods will help this industry take advantage of its best long-term growth potential. Workable Software, Zoho, Softgarden, BambooHR, ICIMS, Lever, SAP (SuccessFactors), Jobvite, Workday, Oracle, IBM (Kenexa), ClearCompany, COMPAS Technology, TalentReef, Conrep, Cornerstone OnDemand, Advanced Personnel Systems, Greenhouse Software, ApplicantPro, CATS Software, & IKraft Solutions are just a few of the companies whose company profiles are included. Basic information includes their legal name, website, headquarters, market position, historical background, and the top 5 closest competitors by market capitalization. The revenue, growth rate, and gross profit margin for each player/manufacturer are shown in an easily comprehensible manner.
Dividing the Market: Exploring Segmentation Strategies
By Type
· On-Premise
· Cloud-Based
By Application
· BFSI,
· IT and Telecommunications,
· Government and Public Sector,
· Retail and Consumer Goods,
· Manufacturing,
· Healthcare and Life Sciences
· Others
Key Topics Covered:
1. Report Overview
2. Executive Summary
3. Overview
4. Applicant Tracking Systems Software Market by Product
5. Applicant Tracking Systems Software Market by Consumption Type
6. Company Profiles
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· Visualize the composition of the global Applicant Tracking Systems Software Market products in terms of Product and application highlighting the critical commercial assets and players.
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By Region
· North America (U.S., Canada, Mexico)
· Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
· Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
· Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
· Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
· South America (Brazil, Argentina, Rest of SA)
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Global Applicant Tracking System Market Restraint
Technological advances affecting HR require adaptive skills to ensure job posting relevance. Without adequate ITS knowledge and software skills, HR managers have difficulty in fully implementing modern ATS solutions. For HR professionals to use the ATS effectively, they must receive appropriate training. It is therefore expected that enterprises will lack a limited set of skills and technical knowledge to effectively use ATS software to transition from network-based systems to application-based security models, for example organizational IT departments their network security measures Redesigning is mandatory and building web and mobile applications can take time and effort. Because most networks were not designed with cybersecurity in mind, a comprehensive network analysis of infrastructure, network devices and traffic is necessary to transition to a new IT security policy.
Important Market Developments for Applicant Tracking Systems Software:
Bob Hiring, a fully integrated Applicant Tracking System (ATS) that links applicant, employee, and business data for more intelligent hiring strategies, will be unveiled by HiBob in April 2023. The smooth integration of Bob Hiring and Bob Workforce Planning enables recruitment procedures to be in line with changing corporate objectives. Better decision-making and more efficient hiring strategies are made possible by this potent, all-in-one HCM platform, which improves business performance. Bob Hiring guarantees a smooth talent acquisition process that promotes organizational performance by making it simpler to draw in and keep outstanding people.
Homerun, an Amsterdam-based hiring platform that specialized in Software-as-a-Service (SaaS) applicant tracking systems, was purchased by Oxford-based ISH Holding (ISH) in January 2024. "Joining the ISH family marked an exciting chapter for Homerun," said Willem van Roosmalen, CEO of Homerun.
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