Dallas/ Texas, Oct. 28, 2022 (GLOBE NEWSWIRE) -- A software component called an applicant tracking system (ATS) makes it possible to manage hiring needs electronically. ATS can be utilized online, at the corporate level, or the local business level, depending on the requirements of the firm. It is additionally offered as open-source, freely accessible software. The majority of applicant tracking systems turn submitted resumes into data points and keep those data points in a database.
The Applicant Tracking System Market is expected to rise at a cumulative annual growth rate (CAGR) of 17.5%, from USD 3.27 billion in 2019 to USD 8.81 billion by 2029. This development can be attributed to a variety of factors, including an increase in the usage of ATSs for people management and the adoption of ATS solutions by small and medium-sized businesses.
Top Manufacturers
- Rethink Ed
- Wings for Kids
- Newsela
- Playworks
- Hero K12
- Panorama Education
- Illuminate Education
- Nearpod
- EVERFI
- and Committee for Children.
The applicant tracking system market is crucial because it offers a way to control the hiring process. Employers use it to handle, arrange, and monitor employment applications. Using an applicant tracking system, employers can identify the most qualified individuals for a post while also keeping track of who has applied for particular positions. Additionally, by automating the hiring process, an applicant tracking system can help businesses find and hire the best candidates more quickly and easily.
Numerous prominent players in the applicant tracking system market are available, and they provide a range of options for hiring, screening, and recruiting. The most well-known ATS suppliers include Hootsuite, Indeed, LinkedIn, and Glassdoor. Job advertising, application monitoring, hiring managers, and employee feedback are just a few of the tools and services that these businesses provide that may be utilized to handle recruitment.
Key Segments of the Global Applicants Tracking System Market
By Component
- Software
- Services
By Deployment
- On-premises
- Cloud
By Organization Size
- SMEs
- Large Enterprises
By Vertical
- BFSI
- IT And Telecommunications
- Government and Public Sector
- Retail and Consumer Goods
- Manufacturing
- Healthcare and Life Sciences
- Others (Media and Entertainment, and Travel and Hospitality)
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The services sector, among others, is seeing tremendous expansion due to the demand for customized solutions, the necessity for specialized workers, and the aid of outside vendors. The on-premise application is the market leader due to characteristics like data protection and privacy, simple communication with other HRMS solutions, and other advantages. Large organizations also like this deployment strategy since it offers customization options.
Regional Overview
North America
- U. S
- Canada
Europe
- Germany
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
South America
- Mexico
- Brazil
- Rest of South America
Middle East and South Africa
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The IT and telecoms sector has the largest market share among these industries due to the necessity of monitoring a large number of job candidates and effectively and efficiently screening them. Furthermore, due to the existence of several small and medium-sized businesses (SMEs), that are quickly adopting these systems to optimise and automate their recruitment processes, The Asia Pacific (APAC) is predicted to have the quickest growth in the global applicant tracking market.
The updated iCIMS Recruit software was introduced in May 2019 and contains new features like applicant connection management and a revamped user interface. (CRM).
The Jobvite ATS system was updated in January 2019 with several enhancements, including a new user interface and improved candidate search tools.
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