Applicant Tracking System Global Market 2024 To Reach $3.71 Billion By 2028 At Rate Of 7.4%

The Business Research Company's Applicant Tracking System Global Market 2024 To Reach $3.71 Billion By 2028 At Rate Of 7.4%

LONDON, GREATER LONDON, UK, August 2, 2024 /EINPresswire.com/ -- The applicant tracking system market has experienced robust growth in recent years, expanding from $2.6 billion in 2023 to $2.79 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to automation of recruitment processes, compliance requirements, centralized candidate database, scalability.

Strong Future Growth Anticipated
The applicant tracking system market is projected to continue its strong growth, reaching $3.71 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to integration with HR software, mobile recruiting solutions, emphasis on diversity and inclusion, enhanced candidate experience, data security and compliance.

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Growth Driver Of The Applicant Tracking System Market
The rising number of job applicants is expected to propel the growth of the applicant tracking system market going forward. Job applicants refer to individuals who have submitted their applications, typically in resumes, to be considered for employment opportunities within a company or organization. Applicant tracking systems can help job applicants by streamlining the application process, making it easier and faster to apply, and improving communication between job applicants and recruiters.

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Major Players And Market Trends
Key players in the applicant tracking system market include International Business Machines Corporation, Oracle Corporation, SAP SE, Automatic Data Processing Inc., Workday Inc., Ultimate Kronos Group.
Major Companies operating in the applicant tracking system market are adopting new technologies, such as AI-powered application systems, to provide a better experience by making the application process more efficient and user-friendly. AI-powered applicant tracking system is designed to streamline recruitment and redefine talent acquisition by leveraging artificial intelligence (AI) technology.

Segments:
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

Geographical Insights: North America Leading The Market
North America was the largest region in the applicant tracking system market in 2023. The regions covered in the applicant tracking system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Applicant Tracking System Market Definition
An applicant tracking system (ATS) is a software application used by companies and organizations to streamline and manage their recruitment and hiring processes. ATS systems are designed to automate and centralize various aspects of the hiring process, making it easier for HR professionals and hiring managers to find, track, and evaluate job applicants.

Applicant Tracking System Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Applicant Tracking System Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on applicant tracking system market size, applicant tracking system market drivers and trends, applicant tracking system market major players, applicant tracking system competitors' revenues, applicant tracking system market positioning, and applicant tracking system market growth across geographies. The applicant tracking system market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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