NEW YORK, July 22, 2019 (GLOBE NEWSWIRE) -- The growth of the market is governed by various factors such as growing demand for cloud-based applicant tracking system and time-efficient selection system globally
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. Applicant Tracking System is software that implements the task of short listing 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 allows 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 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 the presence of advanced economies, like the United States (US) 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 enhanced business operations.
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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 the 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 user accounts for the largest share of 27.3% of the market in 2018.
- The IT and telecommunications end user is changing, along with the rapidly evolving technologies which are facilitating the rising need to hire qualified and experienced employees.
- ATS helps the organizations when the job market is changing, and there is a rising competition among the recruiters for attracting, sourcing, and procuring talent.
- 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 the enterprise can be benefitted by executing an ATS into their hiring method.
- A successful ATS can benefit the company directly in other ways as well.
- APAC is forecasted 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 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
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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
- UK
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East and Africa
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.