According to a new market research report published by Global Insight Services “Applicant Tracking System Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
An applicant tracking system (ATS) is a software application that enables the electronic handling of recruitment needs. An ATS can be implemented or accessed online on an enterprise or small business level, depending on the needs of the company and there is also free and open source ATS software available. The main function of an ATS is to collect, sort and store applicant information from job applications and resumes in a database, so that this information can be easily accessed and analyzed when needed. Many ATSs also include tools for online job postings, resume screening, candidate communication, interview scheduling and performance tracking.
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Key Trends
Some of the key trends in Applicant Tracking System technology include the following:
Increased use of artificial intelligence and machine learning: ATS systems are increasingly using artificial intelligence (AI) and machine learning to help identify and select the best candidates for open positions. This includes using these technologies to help parse resumes and identify key skills and qualifications.
Integration with social media: ATS systems are also increasingly integrating with social media platforms such as LinkedIn. This allows recruiters to easily identify and reach out to potential candidates.
Improved mobile functionality: ATS systems are being designed with improved mobile functionality in mind. This includes developing mobile apps that allow candidates to easily apply for open positions and track the status of their applications.
Key Drivers
There are a few key drivers of the Applicant Tracking System (ATS) market. Firstly, the ever-growing competition for jobs has resulted in a need for more efficient and streamlined hiring processes. Secondly, the proliferation of applicant tracking software has made it easier for employers to track and manage job applicants. Finally, the rise of social media and online job boards has made it easier for job seekers to find and apply for jobs.
Market Segments
By Component
- Software
- Services
By Deployment Mode
- On-premises
- Cloud
Key Players
- Workday
- Oracle
- IBM
- iCMIS
- PeopleFluent
- Cornerstone
- Bullhorn
- Ultimate Software
- Jobvite
- Workable
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