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According to a new report, published by KBV research, The Global Applicant Tracking System Market size is expected to reach $3.3 billion by 2027, rising at a market growth of 7.1% CAGR during the forecast period.
The Large Enterprises segment acquired maximum revenue share in the Global Applicant Tracking System Market by Enterprise Size in 2020; thereby, achieving a market value of $2.1 billion by 2027. Large businesses require a support structure that can help them with the employment process. Applicant tracking system software solutions can make it simple to receive, store, and handle applications. These technologies also enable cross-border compliance and can keep these organizations’ hiring employees up to speed on applicable legislation. These may also aid in the proper submission of reports and the avoidance of penalties and costs.
The Software segment is leading the Global Applicant Tracking System Market by Component in 2020, thereby, achieving a market value of $2.3 billion by 2027. Companies utilize applicant tracking system software to help with recruiting and hiring. These systems, among other things, collect and classify thousands of applications. Due to its ease of use and accessibility, ATS software is progressively being used by businesses in a variety of industries. Many firms are investing in advanced software to streamline their daily operations, and as a result, they are leaning toward ATS software adoption.
The Cloud market is showcasing a CAGR of 12.9% during (2021 - 2027). The on-premises installation strategy of ATS systems is being phased out in favor of the cloud, which offers benefits such as lower operational costs and accessibility to companies and departments who lack the resources and infrastructure to support the on-premises deployment model. The ATS program can be set up as a cloud-based system, allowing many users to access data via the internet. Cloud services have no upfront costs and are paid on a per-use basis.
The Retail & Consumer Goods market has shown growth rate of 7.5% during (2021 - 2027). Forecasting, budgeting, customer happiness, on-time task execution, and store labor scheduling are some of the primary problems that businesses in this industry confront. Furthermore, retailers must acquire comprehensive visibility and control over the recruitment of a diverse, mixed workforce, which includes in-store personnel, drivers, and field service providers, all of whom are tough to recruit in the Middle East and Africa. Because of these complications, the retail and consumer goods industry must carefully choose and hire qualified workers.
The North America market dominated the Global Applicant Tracking System Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1.2 billion by 2027. The Europe market is estimated to witness a CAGR of 6.4% during (2021 - 2027). Additionally, The Asia Pacific market would exhibit a CAGR of 7.9% during (2021 - 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of IBM Corporation, Oracle Corporation, SAP SE, Infor, Inc., Workday, Inc., ADP, Inc., Zoho Corporation Pvt. ltd., Bullhorn, Inc., Cornerstone OnDemand, Inc., and iCIMS, Inc.
By Enterprise Size
By Deployment Model