Global Applicant tracking system (ATS) market encompasses the software application providers that enables electronic handling of staffing requirements. Depending on the requirements of the organizations, these can be accessed online or implemented on enterprise, or can be obtained freely and open sourced ATS available.
Collection, data mining and ability to automate the overall recruitment processes is expected to drive the industry growth
Considerable amount of time and efforts can be saved through implementation of ATS in the organizations. These software helps in better identification of talented candidates, through running an extensive automated search algorithms to suit the job profiles. Conventional software were primarily used to store, manage and track resumes which have considerably evolved with the growing next generation requirements. Trends such as job applications through mobile devices, video interviewing, candidate relationship management, and applying analytics for candidate sourcing in conjunction with conventional applicant tracking are expected to bolster the ATS market growth prospects through the forecast period.
Applicant Tracking System Market Taxonomy
On the basis of organizations, the global applicant tracking system market is classified into:
On the basis of deployments, the global applicant tracking system market is classified into:
On the basis of social media integration, the global applicant tracking system market is
Social media integration and capability to detect passive potential candidates will bolster the applicant tracking system market growth
Social media strategy techniques also help in increasing the probability of finding the suitable candidate, owing to increased viewership, expansion of referral networks through mutual sharing of job openings. Inadvertently this also lead to huge data traffic which can be easily handled through utilization of the software. Pertinent information such as employment history, educational qualifications, and employment status among many others can be easily retrieved through the candidate’s profile data. Moreover, social media integration also enable easy access through mobile platforms. Some e-recruiting solutions are also featured with applications such as sending text messages to applicants, provide updates, request necessary information and schedule interviews. Additionally, its application also includes detection of potential passive candidates and assisting the recruiter by adding the candidate into the employer’s online community to strategically market the employer’s brand.
Automatic elimination of resumes created in unusual or different formats is expected to be the major discrepancy of the software
Applicant tracking system operation is also attributed with certain functional drawbacks that includes lack of detection of potential candidates if the profile description is mentioned in different formats. Moreover, the detection capability of these systems is limited in pdf formats and lack in most of the graphical formats. This is expected to present challenge the industry growth over the forecast period.
Cloud segment dominated the industry applicant tracking system market share
Around 85% of the ATS market share was dominated by the cloud segment, also known as SaaS based service. Primary advantage of the solutions include provision of access to any user involved in the hiring processes and no requirement of addressing or managing the infrastructural problems. In conjunction with these advantages, low cost and increasing utilization of public, private and hybrid cloud applications, specifically in the U.S., Western Europe and emerging economies in Asia Pacific that includes China, India and Indonesia are expected to provide significant growth potential over the forecast period.
Major industry participants include ApplicantStack, Greenhouse Software, Lumesse, Hyrell, iCIMS, Workable, Bullhorn, IBM Kenexa, ClearCompany, SAP SuccessFactors, Findly, JobDiva, Oracle Taleo, Newton Software, Cornerstone OnDemand, Lever, and Workday. Introduction of enhanced functionality and lower discrepancies to garner high usability are expected to be part of the chief growth strategies over the next few years. For instance, in June 2017, RecruitBPM introduced its next generation ATS and CRM software few advancements to fit the needs of employment and staffing firms.
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