[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 US$ 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) | US$ 2.1 Billion |
| Applicant Tracking System Market Size (2032) | US$ 3.8 Billion |
| USA Market CAGR (2022 to 2032) | 4.2% |
| Key Companies Covered |
|
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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 US$ 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.
Principal Consultant
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.
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The USA is expected to account for the highest market of US$ 1.2 Billion by the end of 2032. Also, the market in the country is projected to account for an absolute dollar growth of US$ 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.
The global Applicant Tracking System Market is worth more than US$ 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.
1. Executive Summary | Applicant Tracking System Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032
4.1. Historical Market Size Value (US$ Million) Analysis, 2017 to 2021
4.2. Current and Future Market Size Value (US$ Million) Projections, 2022 to 2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Component
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Component, 2017 to 2021
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Component, 2022 to 2032
5.3.1. Software
5.3.2. Services
5.3.2.1. Training, Support & Maintenance
5.3.2.2. Integration & Implementation
5.3.2.3. Consulting
5.4. Y-o-Y Growth Trend Analysis By Component, 2017 to 2021
5.5. Absolute $ Opportunity Analysis By Component, 2022 to 2032
6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Deployment
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Deployment, 2017 to 2021
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Deployment, 2022 to 2032
6.3.1. On-premises
6.3.2. Cloud
6.4. Y-o-Y Growth Trend Analysis By Deployment, 2017 to 2021
6.5. Absolute $ Opportunity Analysis By Deployment, 2022 to 2032
7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Organization Size
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) Analysis By Organization Size, 2017 to 2021
7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Organization Size, 2022 to 2032
7.3.1. Small & Medium Enterprises
7.3.2. Large Enterprises
7.4. Y-o-Y Growth Trend Analysis By Organization Size, 2017 to 2021
7.5. Absolute $ Opportunity Analysis By Organization Size, 2022 to 2032
8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End-use
8.1. Introduction / Key Findings
8.2. Historical Market Size Value (US$ Million) Analysis By End-use, 2017 to 2021
8.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End-use, 2022 to 2032
8.3.1. IT & Telecommunication
8.3.2. BFSI
8.3.3. Healthcare & Life Sciences
8.3.4. Consumer Goods & Retail
8.3.5. Manufacturing
8.3.6. Others
8.4. Y-o-Y Growth Trend Analysis By End-use, 2017 to 2021
8.5. Absolute $ Opportunity Analysis By End-use, 2022 to 2032
9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region
9.1. Introduction
9.2. Historical Market Size Value (US$ Million) Analysis By Region, 2017 to 2021
9.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2022 to 2032
9.3.1. North America
9.3.2. Latin America
9.3.3. Europe
9.3.4. Asia Pacific
9.3.5. Middle East and Africa (MEA)
9.4. Market Attractiveness Analysis By Region
10. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
10.2.1. By Country
10.2.1.1. United States of America
10.2.1.2. Canada
10.2.2. By Component
10.2.3. By Deployment
10.2.4. By Organization Size
10.2.5. By End-use
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Component
10.3.3. By Deployment
10.3.4. By Organization Size
10.3.5. By End-use
10.4. Key Takeaways
11. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
11.2.1. By Country
11.2.1.1. Brazil
11.2.1.2. Mexico
11.2.1.3. Rest of Latin America
11.2.2. By Component
11.2.3. By Deployment
11.2.4. By Organization Size
11.2.5. By End-use
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Component
11.3.3. By Deployment
11.3.4. By Organization Size
11.3.5. By End-use
11.4. Key Takeaways
12. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
12.2.1. By Country
12.2.1.1. Germany
12.2.1.2. United Kingdom
12.2.1.3. France
12.2.1.4. Spain
12.2.1.5. Italy
12.2.1.6. Rest of Europe
12.2.2. By Component
12.2.3. By Deployment
12.2.4. By Organization Size
12.2.5. By End-use
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Component
12.3.3. By Deployment
12.3.4. By Organization Size
12.3.5. By End-use
12.4. Key Takeaways
13. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
13.2.1. By Country
13.2.1.1. China
13.2.1.2. Japan
13.2.1.3. South Korea
13.2.1.4. India
13.2.1.5. Malaysia
13.2.1.6. Singapore
13.2.1.7. Australia
13.2.1.8. New Zealand
13.2.1.9. Rest of APAC
13.2.2. By Component
13.2.3. By Deployment
13.2.4. By Organization Size
13.2.5. By End-use
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Component
13.3.3. By Deployment
13.3.4. By Organization Size
13.3.5. By End-use
13.4. Key Takeaways
14. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. South Africa
14.2.1.3. Israel
14.2.1.4. Rest of MEA
14.2.2. By Component
14.2.3. By Deployment
14.2.4. By Organization Size
14.2.5. By End-use
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Component
14.3.3. By Deployment
14.3.4. By Organization Size
14.3.5. By End-use
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. United States of America
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2021
15.1.2.1. By Component
15.1.2.2. By Deployment
15.1.2.3. By Organization Size
15.1.2.4. By End-use
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2021
15.2.2.1. By Component
15.2.2.2. By Deployment
15.2.2.3. By Organization Size
15.2.2.4. By End-use
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2021
15.3.2.1. By Component
15.3.2.2. By Deployment
15.3.2.3. By Organization Size
15.3.2.4. By End-use
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2021
15.4.2.1. By Component
15.4.2.2. By Deployment
15.4.2.3. By Organization Size
15.4.2.4. By End-use
15.5. Germany
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2021
15.5.2.1. By Component
15.5.2.2. By Deployment
15.5.2.3. By Organization Size
15.5.2.4. By End-use
15.6. United Kingdom
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2021
15.6.2.1. By Component
15.6.2.2. By Deployment
15.6.2.3. By Organization Size
15.6.2.4. By End-use
15.7. France
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2021
15.7.2.1. By Component
15.7.2.2. By Deployment
15.7.2.3. By Organization Size
15.7.2.4. By End-use
15.8. Spain
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2021
15.8.2.1. By Component
15.8.2.2. By Deployment
15.8.2.3. By Organization Size
15.8.2.4. By End-use
15.9. Italy
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2021
15.9.2.1. By Component
15.9.2.2. By Deployment
15.9.2.3. By Organization Size
15.9.2.4. By End-use
15.10. China
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2021
15.10.2.1. By Component
15.10.2.2. By Deployment
15.10.2.3. By Organization Size
15.10.2.4. By End-use
15.11. Japan
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2021
15.11.2.1. By Component
15.11.2.2. By Deployment
15.11.2.3. By Organization Size
15.11.2.4. By End-use
15.12. South Korea
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2021
15.12.2.1. By Component
15.12.2.2. By Deployment
15.12.2.3. By Organization Size
15.12.2.4. By End-use
15.13. Malaysia
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2021
15.13.2.1. By Component
15.13.2.2. By Deployment
15.13.2.3. By Organization Size
15.13.2.4. By End-use
15.14. Singapore
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2021
15.14.2.1. By Component
15.14.2.2. By Deployment
15.14.2.3. By Organization Size
15.14.2.4. By End-use
15.15. Australia
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2021
15.15.2.1. By Component
15.15.2.2. By Deployment
15.15.2.3. By Organization Size
15.15.2.4. By End-use
15.16. New Zealand
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2021
15.16.2.1. By Component
15.16.2.2. By Deployment
15.16.2.3. By Organization Size
15.16.2.4. By End-use
15.17. GCC Countries
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2021
15.17.2.1. By Component
15.17.2.2. By Deployment
15.17.2.3. By Organization Size
15.17.2.4. By End-use
15.18. South Africa
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2021
15.18.2.1. By Component
15.18.2.2. By Deployment
15.18.2.3. By Organization Size
15.18.2.4. By End-use
15.19. Israel
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2021
15.19.2.1. By Component
15.19.2.2. By Deployment
15.19.2.3. By Organization Size
15.19.2.4. By End-use
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Component
16.3.3. By Deployment
16.3.4. By Organization Size
16.3.5. By End-use
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. International Business Machines Corporation (IBM)
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.2. iCIMS
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.3. Oracle
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.4. PeopleFluent
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.5. Cornerstone
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.6. Workday
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.7. Bullhorn, Inc.
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.8. UKG Inc.
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.9. ADP, Inc
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.10. SAP
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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Applicant Tracking System Market
