[FURL=https://www.industryarc.com/Research/Applicant-Tracking-System-Market-Research-500848?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Applicant Tracking System Market[/FURL] Applicant tracking system market is forecast to reach $2.1 billion by 2026, growing at a CAGR 7.6% from 2021 to 2026. Applicant tracking system is also known as the candidate management system, and enterprises use the software to more efficiently recruit employees and is used in conjunction with customer relationship management solutions. The applicant tracking system can also be used to post job openings on a company website or work board to review resumes, and to create interview requests via e-mail to deserved applicants.Key Takeaways
The manual analysis of candidates' applications is becoming outdated due to the time, cost, and bias issues associated with human analysis. Applicant tracking system not only offers actionable feedback but also reduces the time and cost of hiring and recruiting.
Implementation of ATS cloud software offers various benefits, such as increased security, increased scalability, increased flexibility and lower costs and this is expected to boost market growth.
North America is expected to have the largest share, as developed economies such as the United States (US) and Canada are involved. It is the most developed region on the ATS market, as virtually all the major companies have their headquarters in the area.
Market demand for the applicant tracking system is growing because of the introduction of cloud-based technology.
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Applicant Tracking System Market Segment Analysis - By Geography
North America currently dominates the global Applicant Tracking System market with a share of more than 37.5% in 2020. North America is expected to have the largest share, due to the involvement of developed economies like the United States (US) and Canada. It is the most developed region on the ATS market, since virtually all the major corporations are headquartered in the area. In North America organizations move towards new and upgraded technologies with the increasing adoption of digital business strategies. In addition, organizations have invested in advanced technologies to gain a competitive advantage and enhance operations. All these factors are the driving force of the market in this region.
Applicant Tracking System Market Drivers
Adoption of Cloud based Technologies
Increasing Demand for Digitalization
Applicant Tracking System Industry Outlook
Applicant Tracking System Market is expected to be dominated by major companies such as Oracle, IBM, SAP, Cornerstone, ADP, iCIMS, Jobvite, PeopleFluent, SilkRoad Technology, Paycor, Greenhouse Software, Workday, Ultimate Software, JazzHR, ClearCompany, BambooHR, Racarie Software, Zoho, SmartRecruiters, Ascentis, Recruiterbox, Infor, ResumeWare, TribePad, ATS OnDemand.
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