Applicant Tracking System Market Latest Trends [2024-2032] | Global Demand and Forecast Report by IMARC Group

According to the latest report by IMARC Group, titled, "Applicant Tracking System Market Report by Deployment (On-premises, Cloud), Organization Size (Small and Medium-sized Enterprises, Large Enterprises), Component (Software, Services), End-User (BFSI, IT and Telecommunications, Government and Public Sector, Retail, Manufacturing, Healthcare and Life Sciences, and Others), and Region 2024-2032," The global applicant tracking system market size reached US$ 2.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 5.5 Billion by 2032, exhibiting a growth rate (CAGR) of 8.5% during 2024-2032.

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Applicant Tracking System Market Trends:

The increasing adoption of cloud-based solutions is driving the global market. Moreover, the rising emphasis on improving candidate experience and streamlining recruitment processes is fueling the demand for ATS. The growing utilization of artificial intelligence (AI) and machine learning (ML) technologies in recruitment to enhance efficiency and accuracy is another critical factor. Furthermore, the need for compliance with various regulations and the ability to maintain a centralized database for recruitment activities are contributing to the market's expansion.

Additionally, the rise in remote work and virtual hiring practices due to the COVID-19 pandemic has accelerated the adoption of ATS. Besides, the increasing focus on diversity and inclusion in hiring practices is pushing organizations to adopt sophisticated tracking systems. The integration of ATS with other HR management systems for seamless operations is also enhancing its market appeal.

Leading Key Players in the Applicant Tracking System:

• ApplicantStack
• ATS Ondemand
• Clearcompany
• Greenhouse Software
• IBM
• iCIMS
• JazzHR
• Jobvite
• Oracle
• SAP SE
• SilkRoad Technology
• SmartRecruiters
• Tribepad
• Ultimate Software
• Zoho

Applicant Tracking System Market Growth Analysis:

The scope of the market is expanding due to wide utilization in diverse industries such as IT, healthcare, manufacturing, and retail. The increasing complexity and volume of hiring processes necessitate advanced tracking systems, thus widening the market scope. Furthermore, the customization capabilities of ATS to cater to specific organizational needs are enhancing its appeal to a wider audience. The rising trend of mobile recruitment and the ability of ATS to provide mobile-friendly solutions is another factor broadening the market scope.

Moreover, the integration of social media platforms for recruitment purposes within ATS is attracting more users. The continuous advancements in technology and the development of user-friendly interfaces are also contributing to market growth. Additionally, the growing importance of data analytics in recruitment decisions and the ability of ATS to offer detailed insights and reports are enhancing its market potential. The increasing investments in HR technology by enterprises to gain a competitive edge in talent acquisition are further driving the expansion of the ATS market.

Read Full Report - https://www.imarcgroup.com/applicant-tracking-system-market

Key Market Segmentation:

Breakup by Deployment:

• On-premises
• Cloud

Breakup by Organization Size:

• Small and Medium-sized Enterprises
• Large Enterprises

Breakup by Component:

• Software
• Services

Breakup by End-User:

• BFSI
• IT and Telecommunications
• Government and Public Sector
• Retail
• Manufacturing
• Healthcare and Life Sciences
• Other

Breakup by Region:

• North America
• Asia Pacific
• Europe
• Middle East and Africa
• Latin America

Key highlights of the report:

• Market Performance
• Market Outlook
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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