The global applicant tracking system market size is expected to reach USD 4.20 billion by 2030 according to a new study by Polaris Market Research. The report “Applicant Tracking System Market Share, Size, Trends, Industry Analysis Report, By Component (Software, Services); By Deployment Model (Cloud, On-Premise); By Organization Size (SMEs, Large Enterprises), By Industry Vertical; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Several factors, such as the rise in need for automation in the recruitment process, demand to enhance candidate experience through a streamlined process; and the emergence of mobile-based recruitment systems are favoring the market growth. In addition, the number of benefits associated with the applicant tracking system, such as reduced time spent with administrative tasks, better and faster CV screening, improved quality of hire, and enhanced candidate experience, boosts the growth of the global market.
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Companies of all sizes use these tracking solutions to search, organize and communicate with large groups of applicants. For instance, as per the studies, about 90% of Fortune 500 companies use an ATS under their recruiting strategy.
In 2021, the consumer goods and retail segment dominated the market and is expected to witness the highest CAGR during the forecast period. This sector is one of the leading private-sector employers in the U.S. and around the globe. For instance, the U.S. Bureau of Labor Statistics (BLS) totaled about 4.3 million retail salespersons in the U.S. in 2019.
However, recruiters in this sector are under pressure to keep recruiting retail personnel owing to the high turnover. Also, according to LinkedIn, an American business and employment-oriented online service, the retail sector has the second-highest turnover rate in the job industry. The factors above boost demand for ATS solutions in the consumer goods and retail industry.
Market participants such as ADP, BambooHR, ATS OnDemand, Breezy HR, CEIPAL, ClearCompany, Bullhorn, PeopleFluent, Cornerstone, IBM, iCMIS, Greenhouse Software, JazzHR, Lever, Oracle, Paycor, Jobvite, Ultimate Software, SAP, Skeeled, Silkroad Technology, SmartRecruiters, TalentNest, Trakstar Hire, and Workday are some of the key players operating in the global market.
Players worldwide are adopting several strategies to expand their geographical presence, develop new applicant tracking systems, and generate novel revenue streams. For instance, in February 2022, iCIMS, Inc., a cloud-based applicant tracking system solutions provider, launched iCIMS Offer and Prime Connector, the new products to streamline and simplify the recruiting experience for employers and job candidates.
Polaris market research has segmented the applicant tracking system market report on the basis of component, deployment model, organization size, industry vertical, and region:
Applicant Tracking System, Component Outlook (Revenue – USD Billion, 2018 – 2030)
Applicant Tracking System, Deployment Model Outlook (Revenue – USD Billion, 2018 – 2030)
Applicant Tracking System, Organization Size Outlook (Revenue – USD Billion, 2018 – 2030)
- Large Enterprises
Applicant Tracking System, Industry Vertical Outlook (Revenue – USD Billion, 2018 – 2030)
- Telecom and IT
- Consumer Goods and Retail
- Healthcare and Life Sciences
- Energy and Utilities
- Transportation and Logistics
Applicant Tracking System, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa