Dublin, May 17, 2022 (GLOBE NEWSWIRE) -- The "Global Applicant Tracking System Market, by Component (Software and Services), Deployment Mode (On-Premises, Cloud), Organization Size, Vertical and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global ATS Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 6.7% during the forecast period, to reach USD 3.2 billion by 2026 from USD 2.3 billion in 2021.
Key factors that are expected to drive the growth of the market are the improved candidate experience through a streamlined process, need for automation in the recruitment process, and enhance reporting and compliance.
Based on the component, the market is segmented into two categories: software, and services. The services segment is expected to grow at a higher CAGR during the forecast period. Services, including consulting, integration and implementation, training and education, and support and maintenance, are required at various stages, starting from the pre-sales requirement assessment to post-sales product deployment and execution, thus enabling the client to get maximum RoI. Services constitute an integral part in deploying the solution on-board, imparting training, and handling and maintaining the software solution. Companies offering these services encompass consultants, solution experts, and dedicated project management teams that specialize in the design and delivery of critical decision support software, tools, and services.
The ATS market is segmented by deployment type into on-premises and cloud segment. The cloud deployment mode is expected to grow at a higher CAGR during the forecast period. ATS solutions are migrating to the cloud from the on-premises deployment model as the former offers benefits such as reduced operational costs, making the technology accessible to the organizations and departments that lack capital and good infrastructure to support the on-premises deployment model.
ATS software can be deployed as a cloud-based model, allowing multiple users to access information through the internet. Cloud services require no upfront cost or pay according to the user requirement. The cloud deployment model offers various benefits to organizations, such as quick deployment, scalability, and anywhere access. Data security is a major concern while adopting cloud services. Thus, organizations are moving toward private and hybrid cloud solutions.
The consumer goods and retail industry vertical is expected to grow at the highest CAGR during the forecast period. The retail and consumer goods vertical is evolving and expected to grow rapidly in technological changes, customer needs, and employment.
Tasks such as forecasting, budgeting, customer satisfaction, on-time task execution, and store labor schedules are the major challenges faced by the companies in this vertical. Moreover, retailers need to gain complete visibility and control over the recruitment of a diversified, mixed workforce that comprises in-store employees, drivers, and field service providers, who are difficult to attract by the manual Middle East and Africans. Due to such complexities, the retail and consumer goods vertical needs to select and hire the right employees.
Key Topics Covered:
Executive Summary
- Brief Overview of the Applicant Tracking System Market -Increasing Demand for Automation in Recruitment is Driving the Growth of the Market
- Market, by Component, 2021 Vs. 2026 - Software Segment to Account for a Higher Market Share by 2026
- Market, by Deployment Mode, 2021 Vs. 2026 - On-Premises Segment to Account for a Higher Market Share by 2026
- Market, by Organization Size, 2021 Vs. 2026 - Large Enterprises Segment to Account for a Higher Market Share by 2026
- Market, by Vertical, 2021 Vs. 2026 - Banking, Financial Services and Insurance Vertical to Account for a Higher Market Share by 2026
- Applicant Tracking System Market- Investment Scenario - Asia-Pacific to Emerge as the Best Market for Investment in Next Five Years
Market Dynamics
- Drivers
- Improved Candidate Experiences Through a Streamlined Process
- Need for Automation in the Recruitment Process
- Enhance Reporting and Compliance
- Restraints
- Lack of Relevant Expertise and Knowledge
- Opportunities
- Increase in Demand for Cloud-Based Recruitment Solutions Among Enterprises
- Increasing Penetration of Social Media and Internet
- Emergence of Data Analytics in Recruitment
- Challenges
- Implementing ATS Solutions in Existing Infrastructure
- AI Based Case Study Analysis
- Reduced Hiring Time
- A Collaborative Recruitment Process
- Increased Productivity Levels
- Automated and Streamlined Recruiting Process
- Improved Candidate Experience
- Streamlining Recruitment
- Streamlining Recruitment
- Filling Critical Employee Roles
Company Profiles
- Oracle
- IBM
- ICIMS
- Peoplefluent
- Cornerstone
- Workday
- Bullhorn
- Ultimate Software
- ADP
- SAP
- Jobvite
- Silkroad Technology
- Paycor
- Greenhouse Software
- Clearcompany
- Bamboohr
- Infor
- Zoho
- Smartrecruiters
- Jazzhr
- Ceipal
- Skeeled
- Breezy HR
- Ascentis
- Tribepad
- Manatal
- Trakstar Hire
- Atsondemand
- Oorwin
- Talentnest
- Lever
For more information about this report visit https://www.researchandmarkets.com/r/rb8hmr
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