Applicant Tracking System (ATS) Market is Growing at a CAGR of 8.0%, and the Growth is Influenced by Growing Demand for Cloud-Based Applicant Tracking Systems and Time-Efficient Selection Systems Globally | Reports and Data

NEW YORK, September 24, 2019 (Newswire.com) - ​​​An Applicant Tracking System is software that implements the task of shortlisting candidates by selecting their resumes. With specialties like scheduling interview and candidate tracking, this software helps in handling the recruitment process effortlessly.

The increase in growth is mainly associated with the adoption of advanced cloud technology services that allow thousands of customers to access similar resources, helping companies to cut down their expenses. Based on statistics, the penetration of advanced cloud-based platforms that helps to develop new technology is also a significant factor in stimulating market demand.

Companies are competing and adapting various strategic methods to develop more innovative products and mark their presence in the market place. Applicant tracking software solutions assist businesses to promote themselves through brand knowledge marketed especially for qualified job seekers.

Due to the presence of advanced economies, like the United States (U.S.) and Canada, North America is estimated to hold the largest share of 47.3% in 2018. North America is the most developed region in the ATS market, as almost all large enterprises are located in this region. The driving factor of the market in this region is the rising investments from several organizations for technology advancement to gain a competitive advantage and enhance business operations.

The Applicant Tracking System (ATS) Market is expected to reach USD $2.34 billion by 2026, according to a new report by Reports and Data.       

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Segments covered in the report:

For the purpose of this study, Reports and Data have segmented the market on the basis of Deployment, Organization size, Offerings, End user and region:                      

Deployment Outlook (Revenue, USD Million; 2018-2026)

• On-premises
• Cloud

Organization size Outlook (Revenue, USD Million; 2018-2026)

• Small and Medium-sized Enterprises (SMEs)
• Large enterprises

Offerings Outlook (Revenue, USD Million; 2018-2026)

• Software
• Services

End user Outlook (Revenue, USD Million; 2018-2026)

• IT and Telecommunications
• Banking, Financial Services, and Insurance
• Government and Public Sector
• Retail and Consumer Goods
• Others

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Regional Outlook (Revenue, USD Billion; 2018-2026)

• North America
  • U.S.
• Europe
  • France
  • U.K.
• Asia-Pacific
  • China
  • India
  • Japan
• Latin America
  • Brazil
• Middle East and Africa

Further key findings from the report suggest

• The Applicant Tracking System (ATS) Market is estimated to reach USD 2.34 billion by 2026, at a CAGR of 8.0%, during the forecast period.
   
• The service segment is anticipated to grow at a higher rate of 8.2% during the forecast period.
   
• The demand for services is increasing, along with the growing adoption of application tracking software among industries.
   
• Cloud deployment is anticipated to witness a higher CAGR of 8.2% during the forecast period.
   
• Telecom and IT end users accounts for the largest share of 27.3% of the market in 2018.
   
• The IT and telecommunications end user is changing, along with rapidly evolving technologies that are facilitating the rising need to hire qualified and experienced employees.
   
• ATS helps organizations when the job market is changing, and there is a rising competition among recruiters for attracting, sourcing, and procuring talent.
   
• The large enterprises segment accounts for the larger share of 63.8% of the market in 2018.
   
• With the help of an application tracking system, recruiters and HR personnel can manage communication, promote open positions, improve the company brand, perform analytics, collect data, and control employee referrals.
   
• Every business, from small to enterprise, can benefit by executing an ATS in their hiring method.
   
• A successful ATS can benefit the company directly in other ways as well.
   
• APAC is forecast to be the fastest-growing market, with the highest rate of 8.4% during the forecast period.
   
• The drivers for the growth of this region are the presence of key players, favorable reimbursement policies, and the rising use of technology in emerging countries like India, and China, along with several initiatives taken by the governments.
   
• The Key players in the Applicant Tracking System (ATS) Market include Oracle, SAP, IBM, Cornerstone, iCIMS, ADP, PeopleFluent, Jobvite, SilkRoad Technology, BambooHR, Racarie Software, Greenhouse Software, Paycor, Workday, JazzHR, Ultimate Software, ClearCompany, Zoho, SmartRecruiters, Ascentis , Recruiterbox, Infor, ResumeWare, TribePad, and ATS OnDemand

To identify the key trends in the industry, click on the link below:   https://www.reportsanddata.com/report-detail/applicant-tracking-system-ats-market

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Source: Reports and Data