Applicant Tracking System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Applicant Tracking System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global applicant tracking system market size reached US$ 2.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.9 Billion by 2028, exhibiting a growth rate (CAGR) of 7.53% during 2023-2028.

An applicant tracking system (ATS) is a talent management software that organizes and monitors job openings, resumes, candidates and clients for an organization. The information in the database of the software streamlines the hiring process by conducting preliminary analysis and filtering qualified and deserving candidates for a job. Managers can also schedule interviews and send rejection letters through the ATS and can digitally handle the necessary paperwork. It aims to reduce the workload of recruiters and provide a central repository for candidate data. Also, ATS aids in minimizing the time spent on administrative tasks, providing faster resume screening, and facilitating collaborative recruitment, thus enhancing the overall experience of the candidate.

The increasing penetration rate of cloud-based platforms, along with the adoption of mobile-based recruitment systems, is one of the key factors driving the growth of the market. Organizations are rapidly adopting software-as-a-service (SaaS) for automating the recruitment and hiring procedures. It improves staffing efficiencies and productivity and thereby, managing the hiring process of suitable candidates. The ATS also enables businesses to adopt strategic methods for their brand promotions and attract qualified job seekers. Additionally, the integration of organizations with artificial intelligence (AI) is driving the market growth. The software uses optical trackers to monitor applicants and provide accurate results while identifying the market trends and patterns through transactional activities and analytical inputs. Moreover, factors such as the growing need to replace traditional hiring methods to reduce time-wastage and costs and improve the quality of hiring decisions, are projected to drive the market further.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global applicant tracking system market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on deployment, organization size, component and end-user.

Breakup by Deployment:

On-premises
Cloud

Breakup by Organization Size:

Small and Medium-sized Enterprises
Large Enterprises

Breakup by Component:

Software
Services

Breakup by End-User:

BFSI
IT and Telecommunications
Government and Public Sector
Retail
Manufacturing
Healthcare and Life Sciences
Others

Breakup by Region:

North America
United States
Canada
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Latin America
Brazil
Mexico
Argentina
Colombia
Chile
Peru
Others
Middle East and Africa
Turkey
Saudi Arabia
Iran
United Arab Emirates
Others

Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being ApplicantStack, ATS Ondemand, Clearcompany, Greenhouse Software, IBM, iCIMS, JazzHR, Jobvite, Oracle, SAP SE, SilkRoad Technology, SmartRecruiters, Tribepad, Ultimate Software, Zoho, etc.

Key Questions Answered in This Report
1. What was the size of the global applicant tracking system market in 2022?
2. What is the expected growth rate of the global applicant tracking system market during 2023-2028?
3. What has been the impact of COVID-19 on the global applicant tracking system market?
4. What are the key factors driving the global applicant tracking system market?
5. What is the breakup of the global applicant tracking system market based on the deployment?
6. What is the breakup of the global applicant tracking system market based on organization size?
7. What is the breakup of the global applicant tracking system market based on the component?
8. What is the breakup of the global applicant tracking system market based on the end-user?
9. What are the key regions in the global applicant tracking system market?
10. Who are the key players/companies in the global applicant tracking system market?