Applicant Tracking Systems Market Analysis
Market Research Future (MRFR) predicts the global applicant tracking systems market to grow at a CAGR of 10% from 2017-2023 (forecast period).
The software-as-a-service is integrated into the system is commonly used by businesses to recruit candidates. The applicant tracking systems automate recruiting and staffing operations of any organization. It is often referred to as a talent management system. In 2016, the on-cloud deployment segment led the applicant tracking systems industry with a market share of more than 60%. It boosts staffing efficiencies and productivity, allowing better control of the recruiting process for qualified applicants.
The growing adoption of cloud-based applicant tracking software, which is used to track employees in organizations, is one of the factors driving the applicant tracking systems market development. In Mar 2018, MyJobo went into partnership with Broadbean Technology (a subsidiary of CareerBuilder). The company is incorporating software with applicant tracking systems and human resources information systems as part of this collaboration. These businesses use applicant tracking systems to post online job applications on the internet.
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COVID-19 Impact on the Global Applicant Tracking Systems Market
Implementation of a series of regulations by governments of different nations to deal with the COVID-19 crisis, such as a full shutdown of manufacturing units, is found to have an impact on the development of the global applicant tracking systems industry.
Applicant Tracking Systems Market Key Players
Some of the notable players active in the global applicant tracking systems market are -
- Oracle Corporation (U.S.)
- ExactHire (U.S.)
- BambooHR (U.S.)
- Cornerstone OnDemand Inc. (U.S.)
- IBM Corporation (U.S.)
- Jobvite Inc. (U.S.)
- Workday, Inc. (U.S.)
- Lumesse Limited (England)
- Paycor (U.S.)
- SAP (SuccessFactors) (Germany)
- ApplicantStack (U.S.)
- Bullhorn, Inc. (U.S.)
- Hyrell (U.S.)
- Findly Talent LLC (U.S.)
- iCIMS, Inc. (U.S.)
- ClearCompany (U.S.)
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Applicant Tracking Systems Market Segmentation
The global applicant tracking systems market has been segmented into services, deployment, organization size, and industries.
By service, the global applicant tracking systems market has been segmented into managed services and professional services.
Based on deployment, the global applicant tracking systems market has been segmented into on-cloud and on-premises.
Based on organization size, the global applicant tracking systems market has been segmented into SMEs and large enterprises.
Based on industries, the global applicant tracking systems market has been segmented into government, IT & telecommunication, manufacturing, and others.
Applicant Tracking Systems Market Regional Analysis
The global applicant tracking systems industry is spanned across regions including North America, Europe, Asia Pacific, and the Rest of the World.
In terms of market share, North America is the world's leading region. Because of the growing adoption of artificial intelligence, which is propelling market growth to a large extent, the applicant tracking systems market in this area is in high demand. The market in Europe is expected to expand rapidly due to technological advancements in applicant tracking systems, which boost staffing operations, increase recruiter productivity, and others. At the same time, Asia Pacific countries like China, Japan, and India are emerging markets for applicant tracking systems, with the highest CAGR predicted in the coming years.
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