Global applicant tracking system market is anticipated to grow at a CAGR of 9.9% during the forecast period (2024–2031). The global ATS market is primarily driven by the need to enhance candidate experience through efficient processes. Automation in recruitment has become imperative, streamlining hiring activities. Comprehensive reporting capabilities are increasingly in demand for better decision-making. Ensuring compliance with regulations is also a key factor. These elements collectively fuel the growth of the applicant tracking system market worldwide.
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Integrating applicant tracking system (ATS) software into existing infrastructure poses significant challenges in implementation, design, and setup. IT teams need to revamp the enterprise infrastructure, focusing on security and networking, which can prove to be resource-intensive and costly, requiring skilled employees. A deep understanding of network components is essential to support the new system without disrupting operations. Automating the hiring process with ATS software demands a thorough knowledge of devices, networks, and IT services, meticulous planning, and potential staff training to ensure smooth operation.
North America is expected to maintain a significant share of the applicant tracking system market in the coming future. The primary growth driver is the strong presence of technology providers focusing on partnerships, mergers, acquisitions, and innovative solutions to stay competitive. With the most technologically advanced workforce, the region attracts skilled human resources and generates substantial demand for applicant tracking systems, especially in the US and Canada. The need to modernize HR and adopt mobility trends and cloud computing further supports market growth.
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Recent Developments
- In April 2024, Greenhouse introduced three new features to enhance organizational efficiency and reduce time-to-hire. This includes Texting, powered by Grayscale, which provides recruiters with a seamless channel for effective candidate engagement Sourcing Automation Al was also launched, enabling personalized messaging through automated content generation. Additionally, Greenhouse integrated embedded e-signature capabilities to streamline document workflows within Greenhouse Recruiting aiming to expedite hiring processes. These advancements underscore Greenhouse’s commitment to ethical Al tools that simplify workflows and promote fairness in hiring practices, setting new standards in Al-driven Work Tech tools.
- In November 2023, Ceipal, an industry-leading Al-powered platform for total talent acquisition and automation, received three TrustRadius 2023 Best of Awards in the Applicant Tracking category: “Best Value for Price,” “Best Feature Set,” and “Best Relationship.” These accolades highlight its exceptional performance in customer satisfaction and review ratings.
- In the year 2023, ClearCompany Inc. launched 39 new product updates and 11 new integrations with 11 new integrations with salient HR systems.
Market Coverage
- The market number available for 2023-2031
- Base year: 2023
- Forecast period: 2024-2031
- Segment Covered-
o By Component
o By Deployment Mode
o By Organization Size
o By Vertical
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape: ADP, Inc., IBM Corp, iCIMS, Inc., SAP SE, and Workday, Inc. among others
Key questions addressed by the report
- What is the market’s growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Applicant Tracking System Market Report Segment
By Component
- Software
- Services
By Deployment Mode
- On-premises
- Cloud
By Organization Size
- Small & Medium Size Enterprises
- Large Enterprises
By Vertical
- BFSI
- Government
- Manufacturing
- Telecom & IT
- Consumer Goods & Retail
- Healthcare & LiveScience
- Energy & Utilities
- Transportation & Logistics
- Others (Retail and Consumer Goods, and Education)
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