Global Applicant Tracking System (ATS) Market Is Estimated To Witness Growth Owing To Growing Advancements In Cloud-Based Platform And Growing Cost-Saving Necessities

Applicant Tracking System (ATS) Market
Applicant Tracking System (ATS) Market

An Applicant Tracking System (ATS) is a software solution that helps companies manage the recruiting process. It is used to streamline the hiring process and eliminate the need for tedious, manual tasks. A typical applicant tracking system has many benefits, including the ability to manage applications from multiple channels, organize communication, and filter candidate profiles.

With the help of a modern ATS, hiring managers can easily collaborate with recruiters to hire new employees. The ATS' also provide access to valuable analytics. This allows the team to identify areas for improvement in the hiring process. A properly implemented ATS will help to increase the quality of hires and decrease the time required to find the perfect person for the job.

Market Dynamics:

Rising partnerships by key players is estimated to augment growth of the global Applicant Tracking System (ATS) Market during the forecast period. For instance, an ATS platform Talroo, Inc., partnered up with a recruitment platform provider JobSync LLC., in May 2022. This partnership will allow Talroo, Inc. complete applications in the ATS. Moreover, increasing risks of security of data, is anticipated to restrain growth of the global applicant tracking system (ATS) for market during the forecast period.

Impact of COVID-19:

COVID-19 brought about an economic crisis globally. The pandemic affected the financial markets around the world. Strict lockdowns led to shutting down of businesses and strict social distancing resulted in remote working. All recruiting processes were done online using digital interviewing platforms like Zoom, Microsoft Teams, and Skype.

These virtual recruiting transition require large amount of applicant monitoring and feature rich systems. The pandemic augmented the growth of the global applicant tracking system (ATS) for market. However, in the post-pandemic era owing to increasing prevalence of social media will help in growth of the market.

Key Takeaways:

The global Applicant Tracking System (ATS) Market is estimated to witness robust growth, exhibiting CAGR at high rate during the forecast period, owing to increasing investments.

For instance, an AI-powered hiring software platform provider HireLogic, raised USD 4 million for scaling their business on recruitment platform in May 2022. North America is anticipated to witness significant growth in the global Applicant Tracking System (ATS) Market during the forecast period, due to growing adoption of digital strategies in the region.

Major players operating in the global applicant tracking system (ATS) for market are SAP, International Business Machines Corporation, ADP, Inc., iCIMS, UKG Inc., Oracle, Bullhorn, Inc., PeopleFluent, Workday, and Cornerstone.

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