Global Applicant Tracking System Market Projected to Grow at 7.6% CAGR, Reaching $3.97 Billion by 2029

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What Will the Applicant Tracking System Industry Market Size Be by 2025?
The market size of the applicant tracking system has seen robust growth in the past few years. Expected to rise from $2.79 billion in 2024 to $2.96 billion in 2025, it predicts a compound annual growth rate (CAGR) of 6.3%. This notable growth during the historical period can be credited to factors such as the automation of recruitment processes, compliance requirements, a centralized candidate database, and scalability.

What's the Long-Term Growth Forecast for the Applicant Tracking System Market Size Through 2029?
Significant expansion is anticipated in the applicant tracking system market over the forthcoming years, with its value projected to be $3.97 billion by 2029, courtesy of a compound annual growth rate (CAGR) of 7.6%. Several factors causing this growth within the prediction period are the system's integration with HR software, the provision of mobile recruitment tools, a focus on diversity and integration, improved candidate experiences, and emphasis on data protection and adherence to regulations. Other trends set to influence growth during the prediction timeframe include advancements in AI and machine learning, an enhanced candidate experience, diversity and inclusion attributes, predictive analytics for recruitment, and interconnection with the HR software ecosystem.

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What Are the Key Growth Drivers Fueling the Applicant Tracking System Market Expansion?
The applicant tracking system market is set for expansion as the number of job applicants increases. Job applicants are individuals who have applied for employment opportunities in a company or organization by submitting their applications, usually in the form of resumes. The application process can be made smoother, quicker and more efficient with the aid of applicant tracking systems, which facilitate enhanced communication between recruiters and job applicants. In the United States, as reported by Trading Economics, a provider of historical data and forecasts, the number of job openings in August 2024 saw a rise of 329,000 to 8.040 million. This was up from a revised figure of 7.711 million in July, surpassing market expectations of 7.655 million. The increase was most notable in the construction sector, which added 138,000 job openings, and within state and local governments excluding education, which added 78,000. This surge in job applicants is therefore a major factor driving the growth of the applicant tracking system market.

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What Are the Key Trends Driving Applicant Tracking System Market Growth?
Leading corporations in the applicant tracking system market are embracing new technologies like AI-empowered application systems, to cultivate a superior user experience by making the application procedure more effective and user-friendly. These AI-empowered applicant tracking systems are designed to enhance recruitment and revolutionize talent acquisition using artificial intelligence (AI) technology. For example, Centric Group Inc., a US-based software development firm, in August 2023, introduced Safaa ATS, an AI-empowered applicant tracking software. Safaa ATS comes with exclusive features such as AI-based shortlisting, a fully branded job portal, cloud-based availability, a pre-configured intranet, customizable workflows, and advanced attributes to enhance recruitment and redefine talent acquisition. These elements are designed to unpuzzle the recruitment procedure, increase efficiency, and offer an improved candidate experience.

How Is the Applicant Tracking System Market Segmented?
The applicant tracking systemmarket 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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Which Companies Are Leading the Charge in Applicant Tracking System Market Innovation?
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

Which Regions Are Leading the Global Applicant Tracking System Market in Revenue?
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

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