According to the latest report by IMARC Group, titled “Applicant Tracking System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022- 2027,” the global applicant tracking system market reached a value of US$ 2.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.6 Billion by 2027, exhibiting a CAGR of 7.73% during 2022-2027. An applicant tracking system (ATS) is software that is designed for selecting appropriate resumes, scheduling interviews, and tracking candidate information. It functions by swiftly processing applications and sorting through an extensive database using a combination of workflow software and database spreadsheets. In addition to this, it aids in digitally handling paperwork, scheduling interviews, sending rejection letters, and reducing the overall workload by eliminating human errors.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Applicant Tracking System Market Trends:
The global applicant tracking system market is primarily driven by the widespread integration of advanced technologies with ATS. In line with this, numerous key players are utilizing software-as-a-service (SaaS) to enhance the overall productivity of these systems, thereby creating a positive outlook for the applicant tracking system market. Moreover, the rising need for process automation and enhanced data security and privacy is also providing an impetus to market growth. Some other factors contributing to the market growth include the penetration of cloud-based platforms and the widespread adoption of mobile-based recruitment systems.
Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
Key highlights of the report:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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