The Global market for Applicant Tracking System is forecast to reach $1.96 billion by 2025, growing at a CAGR of 7.9% from 2020 to 2025. The market growth is attributed to the growth in the need for cost reductions, the growth in the need for pragmatic and better-recruiting decisions and the advent of social networking and others. Moreover, the adoption of cloud-based technologies and increasing digitization is also propelling the market growth of applicant tracking system.

Key Takeaways
• Growing digitization increases performance consistency and organizes the data automatically. Organisations don’t have to spend additional time for processing and filing paper documents, thus speeding up the recruitment period. Consequently, the growing need for digitalization is projected to boost the market for the applicant tracking system throughout the forecast period 2020-2025.
• North America region dominated the global applicant tracking system market in 2019 owing to the presence of developed countries, key market players in this region. Moreover, implementation of advanced technologies in different verticals including IT & Telecommunications, Government & Public Sector, Retail & Consumer Goods and others enhance the market growth.

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Geography – Segment Analysis
North America region held the highest market share of the applicant tracking system market in 2019. North America is a developed product deployment region. Faster and timely access to the required applicant-related data, coupled with the lack of job-specific applicants, the emergence of developed economies, such as the United States (US) and Canada, has been a main driving factor for this sector.North America is the most industrialized area in the ATS industry, with almost all major businesses based in the country. Growing spending by a variety of technological development organizations to achieve a strategic edge and improved business operations is also driving market growth in this area. The growing need for an effective procurement mechanism across North American countries has culminated in the highest market share.

Drivers – Applicant tracking system market:

Rising penetration of Cloud technologies-
Owing to the introduction of cloud-based technologies, consumer demand for the applicant tracking system is growing. Cloud driven technologies support stable data management and solve recruiting challenges to produce result-oriented production. However, these programs improve the efficiency of the program and reduce the reaction time by upgrading details in real-time. It aims to speed up recruitment procedures.

Market Landscape: Top Companies like Applicant Stack, Greenhouse, Hyrell, iCIMS, Inc., Workable, Bullhorn, Inc., ClearCompany, Findly Talent LLC, JobDiva, Oracle among others.

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