Latest News- Applicant Tracking Systems Market: Large enterprises is expected to lead the End-user segment during 2025-2029

The Applicant Tracking Systems Market is being driven by Digitalization of HR divisions of organizations

The Applicant Tracking Systems Market is expected to grow at a CAGR of 5.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 202.8 million. In today's business landscape, Artificial Intelligence (AI) is increasingly being adopted by HR departments to streamline and optimize their functions. By automating transactional activities and providing analytical input, AI improves productivity and accuracy in a short timeframe. One area where AI is making a significant impact is in applicant tracking systems (ATS). For instance, Oracle's HCM Cloud integrates AI to automate manual tasks and source candidates from existing databases. AI's benefits in ATS include efficient resume evaluation, which quickly extracts key candidate details using keywords, and identifying patterns and trends to inform hiring decisions. This not only saves time but also ensures a more data-driven recruitment process. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Large enterprises
  • SMEs
• Deployment
  • Cloud-based
  • On-premises
• Component
  • Software
  • Services
• Application
  • IT and telecom
  • BFSI
  • Healthcare
  • Retail and E-commerce
  • Others
• Geography
  • Europe
    • Germany
    • UK
    • France
    • Italy

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Digitalization of HR divisions of organizations
• Benefits associated with applicant tracking systems
• Increasing use of cloud-based applicant tracking systems

However, the market also witnesses some limitations, which are as follows:

• Availability of open-source and free applicant tracking systems
• Limitations associated with applicant tracking systems
• Keyword optimization issue in applicant tracking systems

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Market Scope in Applicant Tracking Systems Market Research Report

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Research Analysis Overview

In the realm of HR tech innovations, Applicant Tracking Systems (ATS) have emerged as a game-changer in talent acquisition. These systems, also known as Talent Acquisition Platforms, offer Recruitment Automation, CRM for Recruitment, and Candidate Relationship Management. ATS Functionality includes Job Posting Management, Candidate Tracking, Communication, Background Checks, Pre-Employment Assessments, and Automated Interview Scheduling. Additionally, Video Interviewing, Talent Network Management, Social Media Integration, and Job Board Integration are key features. ATS also provide Talent Acquisition Analytics, Performance Reporting, and various Integrations. Implementation, Support, Training, Pricing, and Recruiting Technologies are other essential aspects. ATS enhance Hiring Process Improvement, Recruitment Strategies, Culture Fit, Diversity Initiatives, Employee Engagement, Employee Experience, and Recruitment ROI through Predictive Modeling and Machine Learning Algorithms, enabling Recruitment Cost Optimization and Hiring Manager Satisfaction.

Market Research Overview

The Applicant Tracking Systems (ATS) market falls under the broader category of application software within the IT software industry. Specifically, it is a segment of talent acquisition software designed for managing job applications, candidate screening, and overall candidate management. Technavio's market analysis encompasses the revenue generated by companies providing these specialized business solutions, contributing to the global application software market size. This market excludes companies focused on interactive home entertainment or producing database or systems software.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/