Applicant Tracking System Market
Applicant Tracking System Market Size, Share & Trends Analysis Report by Component (Software, and Services), by Deployment Mode (On-premises, and Cloud) by Organization Size (Small & Medium Size Enterprises, and Large Enterprises), and by Vertical (BFSI, Government, Manufacturing, Telecom & IT, Consumer Goods & Retail, Healthcare & Life Sciences, Energy & Utilities, Transportation & Logistics, and Others) Forecast Period (2024-2031)
Applicant tracking system market is anticipated to grow at a significant CAGR of 9.9% during the forecast period (2024-2031). Artificial intelligence (AI) and machine learning (ML) systems enhance applicant screening, automate tedious processes, and provide scalability. Legal risks are minimized via cloud-based installations, intuitive user interfaces, data security, audit trails, and sophisticated analytics. These platforms encourage diversity, facilitate multi-region hiring, and work with HR tech.
Market Dynamics
Increasing Demand for Remote Work Solutions
The growing trend of remote work has driven up demand for applicant tracking systems (ATS) that support virtual recruitment processes and comply with international hiring standards. According to the World Economic Forum, in January 2024, digital jobs that can be performed remotely from anywhere are analyzed in the newly released World Economic Forum white paper, The Rise of Global Digital Jobs. By 2030, these global digital jobs are projected to increase by approximately 25% to over 90 million roles. Technological advancements are expected to contribute to the expansion of higher-wage positions such as software developers and financial risk specialists.
Technological Advancements
The increasing demands and capabilities of ATS platforms, that drive market growth, are influenced by technological developments, notably in the areas of artificial intelligence and machine learning. For instance, in March 2024, iCIMS introduced iCIMS Copilot, a recruiting assistant driven by GenAI that improves hiring efficiency and decision-making. Recruiters can utilize it to instantly optimize job descriptions and craft customized interview questions. The application process is streamlined by the new iCIMS Apply Network.
- In July 2024, CazVid launched an applicant tracking system (ATS) powered by AI to accelerate the recruiting process. The system provides tools for the handling of job applications, comprising each component of the hiring process, and is incorporated into the CazVid platform.
Market Segmentation
- Based on the component, the market is segmented into software and services.
- Based on the deployment mode, the market is segmented into on-premise and cloud.
- Based on the organization size, the market is segmented into small & medium size enterprises and large enterprises.
- Based on the verticals, the market is segmented into BFSI, government, manufacturing, telecom & it, consumer goods & retail, healthcare & life sciences, energy & utilities, transportation & logistics, and others (retail and consumer goods, and education).
BFSI is Projected to Hold the Largest Segment
Hiring practices have grown more diverse and inclusive, and the market is expanding owing to applicant tracking systems (ATS) that encourage objective evaluation standards and standardize processes to minimize perceptions. For instance, in April 2023, TimesPro launched its 10-week Banking Pro program, which aims to prepare recent graduates for the Banking, Financial Services, and Insurance (BFSI) market. The National Skill Development Council has approved the program, which provides over 250 hours of instruction and job assurance prospects with top BFSI organizations. It promotes life skills and subject knowledge, including the use of digital tools and hands-on learning.
- In August 2024, the Society for Worldwide Interbank Financial Telecommunications (SWIFT) launched an AI-driven pilot with Axis Bank to combat cross-border payments fraud and partnered with other global banks to test secure data collaboration and federated learning technologies.
Regional Outlook
The global applicant tracking system market is further segmented based on region including North America (the US, and Canada), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
Global Applicant Tracking System Market Growth by Region 2024-2031
North America Holds Major Market Share
ATS solutions enhance recruitment efficiency, manage high application volumes, and improve hire quality, contributing to market expansion for businesses in today's competitive job market. Funding helps software companies to expand their offering and technology. For instance, in July 2024, TechWolf, a Ghent, Belgium-based startup that built an AI engine that ingests data from internal workflows to better understand employees, secured $42.75 million in Series B funding. The round was led by London-based Felix Capital, with participation from SAP, Acadian Ventures, ServiceNow, Workday, Notion Capital, SemperVirens, Fortino Capital Partners, and contributions from unnamed leaders in AI such as DeepMind and Meta.
Market Players Outlook
*Note: Major Players Sorted in No Particular Order.
The major companies serving the applicant tracking system market include ADP, Inc., IBM Corp, iCIMS, Inc., SAP SE, and Workday, Inc. among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers and acquisitions to stay competitive in the market.
Recent Developments
- In March 2024, ZipRecruiter partnered with iCIMS to streamline the recruitment process and streamline the application process. The integration allows talent acquisition teams to develop, manage, and distribute job openings, improving recruiting efficiency and reducing candidate drop-off. It is available for free to all US-based iCIMS ATS customers, allowing job seekers to use ZipRecruiter's network and recommendation engine.
- In June 2023, RippleHire and Hrtech partnered to launch an HR manual to assist Talent Acquisition teams in identifying and utilizing the most appropriate Applicant Tracking System (ATS) for acquiring highly skilled candidates. The manual helps talent acquisition teams overcome obstacles and comprehend the rationale and steps involved in selecting the most appropriate applicant tracking system. A cloud-based hiring platform called RippleHire has expertise in working with a variety of industries and places a strong emphasis on providing a first-rate candidate experience.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global applicant tracking system market. Based on the availability of data, information related to new products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Industry Trends
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. IBM Corp.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. SAP SE
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. iCIMS Holding Corp.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Oracle Corp.
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. Key Strategy Analysis
4. Market Segmentation
4.1. Global Applicant Tracking System Market by Component
4.1.1. Software
4.1.2. Services
4.2. Global Applicant Tracking System Market by Deployment Mode
4.2.1. On-Premises
4.2.2. Cloud
4.3. Global Applicant Tracking System Market by Organization Size
4.3.1. Small & Medium Size Enterprises
4.3.2. Large Enterprises
4.4. Global Applicant Tracking System Market by Vertical
4.4.1. BFSI
4.4.2. Government
4.4.3. Manufacturing
4.4.4. Telecom & IT
4.4.5. Consumer Goods & Retail
4.4.6. Healthcare & Life Sciences
4.4.7. Energy & Utilities
4.4.8. Transportation & Logistics
4.4.9. Others (Retail and Consumer Goods, and Education)
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
5.4.1. Latin America
5.4.2. Middle East and Africa
6. Company Profiles
6.1. ADP, Inc.
6.2. Avature Limited
6.3. Bamboo HR LLC
6.4. Bullhorn, Inc.
6.5. Ceipal
6.6. ClearCompany, Inc.
6.7. Cornerstone
6.8. Employ Inc.
6.9. Greenhouse Software, Inc.
6.10. HR.COM Ltd.
6.11. Infor
6.12. Lusha Systems Inc.
6.13. Manatal. Co. Ltd
6.14. Oracle Corp.
6.15. Paycor, Inc
6.16. SmartRecruiters, Inc.
6.17. Tellent (Recruitee)
6.18. UKG Inc.
6.19. Workable Technology Ltd.
6.20. Workday, Inc.
6.21. Zoho Corporation Pvt. Ltd.
1. Global Applicant Tracking System Market Research And Analysis By Component, 2023-2031 ($ Million)
2. Global Applicant Tracking Software Market Research And Analysis By Region, 2023-2031 ($ Million)
3. Global Applicant Tracking Services Market Research And Analysis By Region, 2023-2031 ($ Million)
4. Global Applicant Tracking System Market Research And Analysis By Deployment Mode, 2023-2031 ($ Million)
5. Global On-Premises Based Applicant Tracking System Market Research And Analysis By Region, 2023-2031 ($ Million)
6. Global Cloud-Based Applicant Tracking System Market Research And Analysis By Region, 2023-2031 ($ Million)
7. Global Applicant Tracking System Market Research And Analysis By Organization Size, 2023-2031 ($ Million)
8. Global Applicant Tracking System For Small & Medium Size Enterprises Market Research And Analysis By Region, 2023-2031 ($ Million)
9. Global Applicant Tracking System For Large Enterprises Market Research And Analysis By Region, 2023-2031 ($ Million)
10. Global Applicant Tracking System Market Research And Analysis By Vertical, 2023-2031 ($ Million)
11. Global Applicant Tracking System For BFSI Market Research And Analysis By Region, 2023-2031 ($ Million)
12. Global Applicant Tracking System For Government Market Research And Analysis By Region, 2023-2031 ($ Million)
13. Global Applicant Tracking System For Manufacturing Market Research And Analysis By Region, 2023-2031 ($ Million)
14. Global Applicant Tracking System For Telecom & IT Market Research And Analysis By Region, 2023-2031 ($ Million)
15. Global Applicant Tracking System For Consumer Goods & Retail Market Research And Analysis By Region, 2023-2031 ($ Million)
16. Global Applicant Tracking System For Healthcare & Lifesciences Market Research And Analysis By Region, 2023-2031 ($ Million)
17. Global Applicant Tracking System For Energy & Utilities Market Research And Analysis By Region, 2023-2031 ($ Million)
18. Global Applicant Tracking System For Transportation & Logistics Market Research And Analysis By Region, 2023-2031 ($ Million)
19. Global Applicant Tracking System For Other Vertical Market Research And Analysis By Region, 2023-2031 ($ Million)
20. Global Applicant Tracking System Market Research And Analysis By Region, 2023-2031 ($ Million)
21. North American Applicant Tracking System Market Research And Analysis By Country, 2023-2031 ($ Million)
22. North American Applicant Tracking System Market Research And Analysis By Component, 2023-2031 ($ Million)
23. North American Applicant Tracking System Market Research And Analysis By Deployment Mode, 2023-2031 ($ Million)
24. North American Applicant Tracking System Market Research And Analysis By Organization Size, 2023-2031 ($ Million)
25. North American Applicant Tracking System Market Research And Analysis By Vertical, 2023-2031 ($ Million)
26. European Applicant Tracking System Market Research And Analysis By Country, 2023-2031 ($ Million)
27. European Applicant Tracking System Market Research And Analysis By Component, 2023-2031 ($ Million)
28. European Applicant Tracking System Market Research And Analysis By Deployment Mode, 2023-2031 ($ Million)
29. European Applicant Tracking System Market Research And Analysis By Organization Size, 2023-2031 ($ Million)
30. European Applicant Tracking System Market Research And Analysis By Vertical, 2023-2031 ($ Million)
31. Asia-Pacific Applicant Tracking System Market Research And Analysis By Country, 2023-2031 ($ Million)
32. Asia-Pacific Applicant Tracking System Market Research And Analysis By Component, 2023-2031 ($ Million)
33. Asia-Pacific Applicant Tracking System Market Research And Analysis By Deployment Mode, 2023-2031 ($ Million)
34. Asia-Pacific Applicant Tracking System Market Research And Analysis By Organization Size, 2023-2031 ($ Million)
35. Asia-Pacific Applicant Tracking System Market Research And Analysis By Vertical, 2023-2031 ($ Million)
36. Rest Of The World Applicant Tracking System Market Research And Analysis By Region, 2023-2031 ($ Million)
37. Rest Of The World Applicant Tracking System Market Research And Analysis By Component, 2023-2031 ($ Million)
38. Rest Of The World Applicant Tracking System Market Research And Analysis By Deployment Mode, 2023-2031 ($ Million)
39. Rest Of The World Applicant Tracking System Market Research And Analysis By Organization Size, 2023-2031 ($ Million)
40. Rest Of The World Applicant Tracking System Market Research And Analysis By Vertical Size, 2023-2031 ($ Million)
1. Global Applicant Tracking System Market Share By Component, 2023 Vs 2031 (%)
2. Global Applicant Tracking Software Market Share By Region, 2023 Vs 2031 (%)
3. Global Applicant Tracking Services Market Share By Region, 2023 Vs 2031 (%)
4. Global Applicant Tracking System Market Share By Deployment Mode, 2023 Vs 2031 (%)
5. Global On-premises Based Applicant Tracking System Market Share By Region, 2023 Vs 2031 (%)
6. Global Cloud-Based Applicant Tracking System Market Share By Region, 2023 Vs 2031 (%)
7. Global Applicant Tracking System Market Share By Organization Size, 2023 Vs 2031 (%)
8. Global Applicant Tracking System For Small & Medium Size Enterprises Market Share By Region, 2023 Vs 2031 (%)
9. Global Applicant Tracking System For Large Enterprises Market Share By Region, 2023 Vs 2031 (%)
10. Global Applicant Tracking System Market Share By Vertical, 2023 Vs 2031 (%)
11. Global Applicant Tracking System For BFSI Market Share By Region, 2023 Vs 2031 (%)
12. Global Applicant Tracking System For Government Market Share By Region, 2023 Vs 2031 (%)
13. Global Applicant Tracking System For Manufacturing Market Share By Region, 2023 Vs 2031 (%)
14. Global Applicant Tracking System For Telecom & IT Market Share By Region, 2023 Vs 2031 (%)
15. Global Applicant Tracking System For Consumer Goods & Retail Market Share By Region, 2023 Vs 2031 (%)
16. Global Applicant Tracking System For Healthcare & Lifesciences Market Share By Region, 2023 Vs 2031 (%)
17. Global Applicant Tracking System For Energy & Utilities Market Share By Region, 2023 Vs 2031 (%)
18. Global Applicant Tracking System For Transportation & Logistics Market Share By Region, 2023 Vs 2031 (%)
19. Global Applicant Tracking System For Other Vertical Market Share By Region, 2023 Vs 2031 (%)
20. Global Applicant Tracking System Market Share By Region, 2023 Vs 2031 (%)
21. US Applicant Tracking System Market Size, 2023-2031 ($ Million)
22. Canada Applicant Tracking System Market Size, 2023-2031 ($ Million)
23. UK Applicant Tracking System Market Size, 2023-2031 ($ Million)
24. France Applicant Tracking System Market Size, 2023-2031 ($ Million)
25. Germany Applicant Tracking System Market Size, 2023-2031 ($ Million)
26. Italy Applicant Tracking System Market Size, 2023-2031 ($ Million)
27. Spain Applicant Tracking System Market Size, 2023-2031 ($ Million)
28. Rest Of Europe Applicant Tracking System Market Size, 2023-2031 ($ Million)
29. India Applicant Tracking System Market Size, 2023-2031 ($ Million)
30. China Applicant Tracking System Market Size, 2023-2031 ($ Million)
31. Japan Applicant Tracking System Market Size, 2023-2031 ($ Million)
32. South Korea Applicant Tracking System Market Size, 2023-2031 ($ Million)
33. Rest Of Asia-Pacific Applicant Tracking System Market Size, 2023-2031 ($ Million)
34. Latin America Applicant Tracking System Market Size, 2023-2031 ($ Million)
35. Middle East And Africa Applicant Tracking System Market Size, 2023-2031 ($ Million)
