Applicant Tracking System Market worth $3.2 billion by 2026 - Exclusive Report by MarketsandMarkets™

CHICAGO, March 8, 2022 /PRNewswire/ -- According to a new  research report "Applicant Tracking System Market with COVID-19 Impact Analysis, by Component (Software and Services), Deployment Mode (On-Premises, Cloud), Organization Size (SMEs, Large Enterprises), Vertical and Region - Global Forecast to 2026", published by MarketsandMarkets™, the global Applicant Tracking System Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 6.7% during the forecast period, to reach USD 3.2 billion by 2026 from USD 2.3 billion in 2021. Key factors that are expected to drive the growth of the market are the improved candidate experience through a streamlined process, need for automation in the recruitment process, and enhance reporting and compliance.

Browse in-depth TOC on "Applicant Tracking System Market with COVID-19 Impact Analysis"
267 – Tables
54 – Figures  
231 – Pages

Ask for Report Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=27004100

Services segment to grow at a higher CAGR during the forecast period

Based on the component, the market is segmented into two categories: software and services. Services, including consulting, integration and implementation, training and education, and support and maintenance, are required at various stages, starting from the pre-sale's requirement assessment to post-sales product deployment and execution, thus enabling the client to get maximum RoI. Services constitute an integral part in deploying the solution on-board, imparting training, and handling and maintaining the software solution. Companies offering these services encompass consultants, solution experts, and dedicated project management teams that specialize in the design and delivery of critical decision support software, tools, and services.

Cloud deployment mode to grow at a higher CAGR during the forecast period

The Applicant Tracking System Market is segmented by deployment mode into on-premises and cloud segment. The ATS market is segmented by deployment type into on-premises and cloud segment. The cloud deployment mode is expected to grow at a higher CAGR during the forecast period. ATS solutions are migrating to the cloud from the on-premises deployment model as the former offers benefits such as reduced operational costs, making the technology accessible to the organizations and departments that lack capital and good infrastructure to support the on-premises deployment model. ATS software can be deployed as a cloud-based model, allowing multiple users to access information through the internet. Cloud services require no upfront cost or pay according to the user requirement. The cloud deployment model offers various benefits to organizations, such as quick deployment, scalability, and anywhere access. Data security is a major concern while adopting cloud services. Thus, organizations are moving toward private and hybrid cloud solutions.

Consumer goods and retail vertical to grow at a higher CAGR during the forecast period

The consumer goods and retail industry vertical is expected to grow at the highest CAGR during the forecast period. The retail and consumer goods vertical is evolving and expected to grow rapidly in technological changes, customer needs, and employment. Tasks such as forecasting, budgeting, customer satisfaction, on-time task execution, and store labor schedules are the major challenges faced by the companies in this vertical. Moreover, retailers need to gain complete visibility and control over the recruitment of a diversified, mixed workforce that comprises in-store employees, drivers, and field service providers, who are difficult to attract by the manual Middle East and Africans. Due to such complexities, the retail and consumer goods vertical needs to select and hire the right employees.

Speak to Research Expert: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=27004100

APAC to grow at a higher CAGR during the forecast period

APAC is expected to grow at a higher CAGR during the forecast period. The Asia Pacific region comprises emerging economies including China, Japan, Australia and New Zealand and the rest of APAC. The APAC market is gaining huge traction among global businesses. Moreover, the business relationship of APAC countries has increased drastically with the US in the past decade. This has led to the increased adoption of ATS software and services in the APAC region. Due to the regions high population, there are many applications for every job post, which has become a major challenge for recruiters in the APAC region. To overcome this challenge, APAC enterprises are being made aware of the benefits offered by ATS since the region includes countries such as Singapore, India, Sri Lanka, Malaysia, and Hong Kong, which focuses more on such parameters. Moreover, the advanced benefits of automation and analytic metrics are a few other factors compelling APAC companies to adopt ATS.

The Applicant Tracking System Market comprises major providers, such Oracle(US), IBM (US), iCMIS (US), PeopleFluent (US), Cornerstone (US), Workday (US), Bullhorn (US), Ultimate Software (US), ADP (US), SAP (Germany), Jobvite (US), Silkroad Technology (US), Paycor (US), Greenhouse Software (US), ClearCompany (US), BambooHR (US), Infor (US), Zoho (India), SmartRecruiters(US), JazzHR (US), CEIPAL (US), skeeled (Luxembourg), Breezy HR (US), Ascentis (US), Tribepad (UK), Manatal(Thailand), Trakstar Hire (US), ATS OnDemand(US), Oorwin (US), TalentNest (US), and Lever (US). The study includes an in-depth competitive analysis of key players in the Applicant Tracking System Market with their company profiles, recent developments, COVID-19 developments, and key market strategies.

Browse Adjacent Markets: Software and Services Market Research Reports & Consulting

Related Reports:

Human Capital Management Market with COVID-19 Impact Analysis, by Component, Software (Core HR, Applicant Tracking System, HR Analytics, & Workforce Management), Services, Deployment Model, Organization Size, Vertical & Region - Global Forecast to 2026

Visitor Management System Market with COVID-19 Impact Analysis by Component (Software & Services), Application (Compliance Management & Fraud Detection, Contact Tracing), Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2026

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430 
Northbrook, IL 60062 
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/applicant-tracking-system-market.asp
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/applicant-tracking-system.asp

SOURCE MarketsandMarkets