According to the latest report by IMARC Group, titled “Applicant Tracking System (ATS) Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global applicant tracking system market size reached a strong growth in 2019. An applicant tracking system (ATS) is a software that assists an organization in its employee recruiting process. It collects, stores and organizes information, while also performing other tasks, such as resume analyzing, disqualifying non-qualified candidates, interview scheduling and candidate feedback, which ultimately speeds up and enhances the hiring process. Other than this, it also offers automated resume ranking, pre-screening questions, response tracking, multilingual capabilities, requisition tracking and customized input forms.
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The increasing adoption of cloud-based services around the world represents one of the key factors driving the global applicant tracking system (ATS) market growth. Apart from this, the adoption of software as a service (SaaS) offers encryption and enhanced security of data, which, in turn, is also propelling the market growth. Furthermore, various providers are integrating artificial intelligence (AI) into their systems that help recruiters in saving their time and reducing the overall operational costs. Besides this, the increasing number of job applicants and the rising influence of social media across the globe are anticipated to drive the market growth in the coming years. Looking forward, IMARC Group expects the market to exhibit a CAGR of 8.5% during 2020-2025.
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