Surge In Job Applicants Impacting The Applicant Tracking System Market: A Key Factor Shaping the Future of the Applicant Tracking System Market in 2025

How Are the key drivers contributing to the expansion of the applicant tracking system market?
The growth of the applicant tracking system market is predicted to be fuelled by the increasing number of job seekers. Job seekers are individuals who have submitted their applications, usually in the form of resumes, for job opportunities within an organization or company. Applicant tracking systems aid these job seekers by streamlining the submission process, thereby making it more efficient and faster, and improving the interaction between the job seekers and employers. For instance, data from Trading Economics, a US-based provider of historical data and forecasts, showed that in August 2024, job openings increased by 329,000 to 8.040 million as compared to an upward revised figure of 7.711 million in July. Moreover, the number of job openings exceeded market forecasts of 7.655 million. Construction experienced an increase of 138,000 in job openings while state and local government, excluding education, saw an increase of 78,000. Therefore, the growing number of job seekers serves as a major factor for the expansion of the applicant tracking system market. Under the heading of "Applicant Tracking System Market Driver: Social Media's Influence On The Growth Of The Applicant Tracking System Market", it is mentioned that the advent of social media is anticipated to further drive the growth of the applicant tracking system market. Social media, which refers to online platforms that facilitate the creation, sharing, and interaction of content with other users in a virtual social network, contribute significantly to applicant tracking systems. It provides recruiters with an expanded candidate pool and insights into a candidate's qualifications and suitability for positions through their online profiles. For instance, as per Made in CA, a Canada-based website, in September 2023, there were over 33.1 million social media users in Canada. Among these, Facebook enjoys the highest popularity with over 26 million users, while Facebook Messenger is the favorite messenger app with more than 22 million users among Canadians. Consequently, the growth of social media serves as a key driver for the growth of the applicant tracking system market.

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What growth opportunities are expected to drive the applicant tracking system market's CAGR through 2034?
The market size for the applicant tracking system has seen significant expansion in the last few years. This growth is expected to continue, with the market projected to rise from $2.79 billion in 2024 to $2.99 billion in 2025, representing a compound annual growth rate (CAGR) of 7.2%. Factors contributing to this progression during the historic period include automation of recruitment methods, adherence to compliance requirements, and the advent of a centralized candidate database which offers scalability.

In the coming years, the applicant tracking system market is anticipated to witness substantial expansion. The market size is projected to increase to $4.04 billion by 2029, with a compound annual growth rate (CAGR) of 7.8%. The expansion during the forecast period can be linked to the incorporation with HR software, mobile recruitment services, focus on diversity and inclusivity, improved candidate experience, and data security and compliance. Key trends during the forecast timeline encompass AI and machine learning, superior candidate experience, diversity and inclusivity aspects, predictive analytics for hiring, and integration with HR software environment.

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How are the latest trends influencing the growth of the applicant tracking system market?
Top-notch corporations in the applicant tracking system market are embracing innovative technologies such as AI-powered application systems to enhance the application procedure, making it more streamlined and user-friendly. The AI-powered applicant tracking system is constructed to enhance recruitment processes and redefine talent acquisition using artificial intelligence. For example, in August 2023, Centric Group Inc., an American software development firm, introduced Safaa ATS, which utilizes AI to power its applicant tracking system. This system offers a plethora of unique features, including automated shortlisting through AI, a personalized job portal, cloud connectivity, a readymade intranet, customizable workflows, and modern features to enhance recruitment and modify talent acquisition. These features aim to simplify the hiring process, augment efficiency, and offer a superior experience to potential candidates.

Which growth-oriented segments of the applicant tracking system market are leading the industry's development?
The applicant tracking system market covered in this report is segmented -

1) By Component: Software, Services
2) By Deployment Mode: On-Premises, Cloud
3) By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
4) By Vertical: Banking Financial Services And Insurance (BFSI), Government, Manufacturing, Telecom And Information Technology (IT), Consumer Goods And Retail, Healthcare And Lifesciences, Energy And Utilities, Transportation And Logistics, Other Verticals

Subsegments:
1) By Software: Cloud-Based ATS, On-Premises ATS, Mobile ATS Solutions
2) By Services: Implementation Services, Consulting Services, Training And Support Services

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What regions are leading the charge in the applicant tracking system market?
North America was the largest region in the applicant tracking system market in 2024. The regions covered in the applicant tracking system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

What companies are at the forefront of innovation in the applicant tracking system market?
Major companies operating in the applicant tracking system market report are International Business Machines Corporation, Oracle Corporation, SAP SE, Automatic Data Processing Inc., Workday Inc., Ultimate Kronos Group, Paycor HCM Inc., Bullhorn Inc., Cornerstone OnDemand Inc., iCIMS Inc., PeopleFluent Inc., Ceipal Corporation, Workable Technology Limited, BambooHR, SmartRecruiters Inc., Jobvite Inc., Lever, Trakstar Hire, Bullhorn Inc., ADR Inc., Silkroad Technology Inc., Greenhouse Software Inc., ClearCompany Inc., Hireku Inc., Symphony Talent LLC, TalentNest, ATS OnDemand

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What Is Covered In The Applicant Tracking System Global Market Report?

• Market Size Forecast: Examine the applicant tracking system market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the applicant tracking system market for a structured understanding.
• Key Players Overview: Analyze major players in the applicant tracking system market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the applicant tracking system market.
• Segment Contributions: Evaluate how different segments drive overall growth in the applicant tracking system market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the applicant tracking system market.
• Industry Challenges: Identify potential risks and obstacles affecting the applicant tracking system market.
• Competitive Landscape: Review strategic developments in the applicant tracking system market, including expansions, agreements, and new product launches.

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