Shibuya-ku, Tokyo, Japan, Japan, Oct 04, 2021, 04:48 /Comserve / -- The ATS market size is expected to grow from USD 1.21 billion in 2018 to USD 1.81 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 8.3% during the forecast period.
With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment.
The ATS market size is expected to grow from USD 1.21 billion in 2018 to USD 1.81 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 8.3% during the forecast period. Focus on enhancing candidate experience and an emerging need for analytics are major growth factors for the market. However, lack of awareness about the benefits of ATS could affect the growth of the ATS market.
Services are an important part of ATS offerings. ATS services assist and support organizations across industries in effectively dealing with candidate sourcing, resume tracking, and finally the onboarding of the selected candidates. The various significant benefits of ATS services include huge cost savings, trained resources, 24X7 customer service availability, and support for recruiters using the ATS software.
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“Cloud deployment is expected to grow at a higher rate during the forecast period”
The cloud deployment of ATS software offers various benefits, such as enhanced security, improved scalability, better flexibility, and lower costs. The rise in data generation and use of advanced technologies such as IoT and analytics are leading to the greater adoption of the cloud deployment type, due to the benefits of enhanced and organized storage, and ready availability of data when required. These factors are driving the adoption of cloud-based applicant tracking systems.
“North America is expected to hold the largest market size, and Asia Pacific (APAC) to grow the fastest”
North America is expected to hold the largest market size during the forecast period, as organizations are shifting toward new and upgraded technologies with the increasing adoption of digital business strategies. Furthermore, organizations have invested in advanced technologies to gain a competitive advantage and improve business operations. APAC is expected to be the fastest-growing region in the global ATS market, owing to the positive economic outlook in the region, increased spending on Information Technology (IT) infrastructure, and the tendency of ATS to drive user experience and improve the recruitment issues.
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The break-up profiles of primary participants are given below:
• By company: Tier 1 – 43%, Tier 2 – 35%, and Tier 3 – 22%
• By designation: C-level – 60%, Director level – 25%, and Others – 15%
• By region: North America – 44%, Europe – 25%, APAC – 21%, and RoW – 10%
Research Coverage
The ATS market has been segmented on the basis of component, deployment type, organization size, vertical, and region. A detailed analysis of the key industry players has been done to provide key insights into their business overviews, services, key strategies, new service launches, partnerships, agreements and collaborations, business expansions, and competitive landscape associated with the ATS market.
TABLE OF CONTENTS
1 INTRODUCTION 14
1.1 OBJECTIVES OF THE STUDY 14
1.2 MARKET DEFINITION 14
1.3 MARKET SCOPE 15
1.4 YEARS CONSIDERED FOR THE STUDY 15
1.5 STAKEHOLDERS 16
2 RESEARCH METHODOLOGY 17
2.1 RESEARCH DATA 17
2.1.1 SECONDARY DATA 18
2.1.2 PRIMARY DATA 18
2.1.2.1 Breakdown of primaries 19
2.1.2.2 Key industry insights 19
2.2 MARKET SIZE ESTIMATION 21
2.3 RESEARCH ASSUMPTIONS 23
2.4 LIMITATIONS 23
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