applicant tracking system Market

The global applicant tracking system market accounted to US$ 675.3 Mn in 2017 and is expected to grow at a CAGR of 9.2% during the forecast period 2018 – 2025, to account to US$ 1345.7 Mn by 2025.

Driving factors such as demand for time-efficient selection systems owing to rising number of job applicants, and gaining prominence of the cloud-based applicant tracking system are anticipated to have a huge impact on the development of applicant tracking system market in the coming years.

The key trend which will predominantly affect the applicant tracking system market in the coming year is the integration of artificial intelligence with ATS system for enhanced capabilities. As the HR groups in the coming years are expected to raise the demand for solutions, which in response would further enhance the employment curve and understand not only the effects of AI on their workforces but also the benefit of incorporating new and exciting tools into their workflows, especially for recruitment. With a plethora of startups out there in this space, it’s easy for talent acquisition teams to experiment and find what works for them.

Applicant tracking system market by end-user is segmented into IT & Telecom, retail, BFSI, Retail & Consumer Goods, Manufacturing, healthcare, government & others. Despite slightly gloomy employment outlook, the IT & telecom sector is expected to boost the adoption of applicant tracking systems based on two major factors. The first one it’s the rising demand of talents across the globe and increasing count of applicants every day. In order to effectively manage these employees, the IT & Telecom companies are increasingly deploying applicant tracking systems. The second factor is the spending capability of the IT & Telecom companies. IT & Telecom imbibe the highest spending capability on the upcoming technologies owing to which the sector is expected to contribute significant profits to the applicant tracking system.

The overall Applicant tracking system market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Applicant tracking system market. Also, the primary interview was conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultant such as valuation experts, research analysts, and key opinion leaders specializing in the applicant tracking system market and industry.