Rapidly increasing rate of employment and demand for time efficient solution in the Human Resource department is expected to contribute to the growth of ATS solution worldwide.
The applicant tracking system is a result of digital revolution in recruitment processes, an ATS gathers all recruitment associated documents; organize and store them for easy future access. The applicant data stored in the system is collected in certain ways with the help of an application integrated with the user company’s internal website. The ATS software not only collect and organize data but also perform a company defined analysis of resumes. The analysis enables the companies to effectively filter the applications sufficing the criteria.
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According to the new research report published by The Insight Partners, titled “Applicant Tracking System (ATS) Market– Global Analysis and Forecasts to 2025”, the Global Applicant Tracking System Market is expected to reach US$ 1,345.7 Mn by 2025, registering a CAGR of 9.2 % during the forecast period 2018-2025.
The global applicant tracking system market has been segmented on the basis of deployment model, component, and end-user. On the basis of deployment, the market has been bifurcated into on-premise, and cloud. The applicant tracking system find its applications into various industries that from the basis of segmentation by end-user. The applicant tracking system end-users’ are many, and therefore the market has been segmented into BFSI, IT & telecommunication, manufacturing, government, and others. On the basis of component, the applicant tracking system market has been segmented into solution and services.
New market initiatives was observed as the most adopted strategy in global applicant tracking system market. Few of the recent market initiatives are listed below:
2018: ClearCompany joined hands with ADP, LLC and launched Advanced Talent which is a talent solution for the companies that consist of 100 to 2,000 employees for utilizing both ADP Workforce Now and ClearCompany talent tools.
2018: Workable Software introduced General Data Protection Regulation (GDPR) feature pack, designed mainly to help consumers meet key recruiting needs.
2018: SAP SE unveiled updated and new features to the SAP SuccessFactors HCM Suite. These new and updated features will make it easier for HR leaders around the world to comply with privacy laws and data protection.
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