Global Applicant Tracking System Market Size, Share, Trend, and Forecast 2021 – 2030
The global applicant tracking system market is expected to reach USD 3.10 billion by 2030, at a CAGR of 9% during the forecast period of 2021 to 2030.
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The COVID-19 pandemic has had a negative effect on credit portfolios. Consumers’ and businesses’ solvency is being strained by the unprecedently high rate of unemployment and the disruption of economic activity. By reducing interest rates and implementing asset acquisition programmes, central banks have demonstrated a proactive stance by bringing liquidity into the market. It was difficult enough to manage and monitor credit, market, liquidity, and operational risk in the financial markets with ongoing geopolitical tensions, global trade disputes, and sporadic earthquakes and hurricanes. Chief risk officers and their teams have been compelled by the current pandemic scenario to reevaluate outdated risk management and monitoring models and presumptions. The global impact of COVID-19 has demonstrated the significance of interconnectedness in international cooperation.
For the duration of the forecast, the software segment is expected to account for the largest market size. The applicant tracking system market is divided into two segments based on the type of component: solutions and services. For the duration of the forecast, the computer software segment is expected to account for the largest market size. It is anticipated that in the near future, the market for applicant tracking software will expand rapidly. The reason for this is that this kind of software is utilised by companies of all sizes. An application tracking system (ATS) that uses artificial intelligence to score and sort resumes according to job requirements can help businesses do more with less. Resumes (CVs) from applicants are more quickly and accurately matched to job requirements thanks to machine learning.
During the projection period, the cloud segment is expected to have a higher CAGR. Application tracking system markets are divided into On-Premise and Cloud segments based on how they are deployed. During the projection period, the cloud segment is expected to have a higher CAGR. The distributed nature of cloud services allows for greater flexibility, lower costs, and increased security. Anyone having access to the internet can use a network-based or cloud-based application tracking system. By doing this, recruiters can continue hiring without having to install software to access data. Recruitment software has improved the hiring process for 94% of recruiters and hiring managers, according to a Capterra study.
List of Key Companies
- BambooHR LLC,
- Cornerstone OnDemand, Inc.,
- IBM Corporation,
- iCIMS, Inc.,
- Oracle,
- Paycor, Inc.,
- Peoplefluent,
- SAP SE,
- Workday, Inc.,
- Zoho Corporation Pvt. Ltd
Market segmentation:
By Component Type
- Solutions
- Services
By Deployment
- On-Premise
- Cloud
Competitive analysis:
The competitive analysis section of the Global Applicant Tracking System Market research report provides a detailed study of the competitive landscape within the market. It aims to identify and assess key market players, their strategies, and their impact on overall market dynamics. Each company’s profile provides insight into its business profile, product portfolio, geographic presence, and recent developments. This information helps stakeholders to gain a comprehensive understanding of market participants and their capabilities.
In addition, competitive analysis examines the market share held by each major player and assesses their position within the market. Assessing relative market strength considers factors such as revenue, market capitalization, and market share growth over time. By understanding the distribution of market shares, industry participants can identify key players and their market power.
Browse key industry insights spread across 190 pages with 127 market data tables and figures & charts from the report “Global Applicant Tracking System Market Size, Share, and COVID-19 Impact Analysis By Component Type (Solutions and Services), By Deployment (On-Premise and Cloud), By End-user Verticals (IT & Telecommunication, BFSI, Retail and Healthcare), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030.”
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The Global Applicant Tracking System Market Research Report aims to answer the following key questions:
- What are the main products and services offered in the market and how are they evolving to meet changing consumer demands?
- What are the key technological advances and innovations impacting the market and how will they affect the competitive landscape?
- What are the key distribution channels and marketing strategies market players employ to effectively reach their target audience?
- What are the price trends in the market, and how do prices change across different product segments and geographies?
- How will changing demographic patterns, such as age groups and income levels, affect consumer behaviour and market demand?
- What are the key cost factors and factors that influence the profitability of companies in the Global Applicant Tracking System Market?
- How will sustainability and environmental considerations affect consumer preferences and market growth in this sector?
- What are the investment opportunities and challenges for new entrants and investors looking to enter the market?
- How do government policies and regulations impact market dynamics and shape industry strategies?
- What are the current supply chain trends and challenges in the market, and how do they affect product availability and pricing?
- What are the levels of customer satisfaction and loyalty within the market, and how do market participants differentiate in terms of service quality?
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