Implementing ATS in organisations can save a significant amount of time and effort. These programmes aid in the better identification of candidates by performing large automated search algorithms tailored to the job descriptions. Traditional software was largely used to store, manage, and track resumes, which have significantly altered in response to the expanding needs of the next generation. Trends such as the usage of mobile devices for job applications, video interviews, candidate relationship management, and the use of analytics for candidate sourcing in conjunction with traditional applicant tracking are projected to drive ATS market growth over the projection period.
The global Applicant Tracking System (ATS) market was worth USD 2.62 billion in 2022, and it is predicted to grow at a 6.5% CAGR during the forecast period.
Top Companies in the Applicant Tracking System Industry:
1. ApplicantStack:
Developer of an application tracking system for the aim of staff recruitment. The company's software aids in the solicitation, tracking, interviewing, and hiring of new employees, as well as the management and posting of jobs to job boards, as well as the acceptance and processing of job applications, allowing recruiters and hiring managers to manage and recruit applicants online. Founded 2009. Headquarters are in the United States.
2. Greenhouse Software:
Operator of a recruiting platform that assists businesses in sourcing, interviewing, hiring, and onboarding the best personnel. The platform of the company aids employers in determining who they want to hire and establishing a consistent interview process, allowing recruiters to collect feedback and track employees once they have been hired. Established in 2012. The headquarters are in New York. With a $500 million investment, TPG acquires a majority stake in HR software company Greenhouse.
3. Lumesse:
Creator of a metabolism assessment gadget that uses metabolic data to deliver daily personalised nutrition. The company's device is a small portable breathalyser that measures metabolism through the breath in real-time and changes the way people eat and manage their bodies to live a healthier life by dieting, allowing users to gain a full understanding of whether they are on a trend to lose or gain weight and providing knowledge about weight-control tools. Founded in 2014, with headquarters in Israel. Lumen adds Versa to its SASE offering while also launching a Rapid Threat Defence tool that immediately filters harmful traffic.