The global applicant tracking systems market 2019-2023 is expected to post a CAGR of close to 7% during the forecast period, according to the latest market research report by Technavio
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Technavio predicts the global applicant tracking systems market to post a CAGR of close to 7% by 2023. (Graphic: Business Wire)
A key factor driving the growth of the market is cost-effective and less time-consuming traits of this system. The applicant tracking systems (ATS) is superior to the traditional recruitment methods by means of three main recruitment parameters, namely time to hire, cost per hire, and the quality of hire. The ATS method bypasses various steps such as newspaper ads, manual scrutinizing, and the requirement of large physical spaces for conducting interviews. Thus, the cost and time required in selecting a suitable candidate are significantly reduced. The ATS software is highly cost-efficient compared with the traditional approach as there are various package models available in the market. Flexible cost benefits and high ROI compared with the traditional approach are expected to drive the growth of the global applicant tracking systems market.
This market research report on the global applicant tracking systems market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights ATS-integrated social media recruiting as one of the key emerging trends in the global applicant tracking systems market:
Global applicant tracking systems market: ATS-integrated social media recruiting
Some of the ATS vendors in the market are offering ATS tools that can be integrated with social media platforms such as Facebook, LinkedIn, and Twitter. The key benefits of integrating social media with a company's ATS is that it expands the scope of the audience for a job, and thereby helps gain more applicants. Thus, many vendors are expected to offer products where an ATS is integrated with social media websites.
"ExactHire is an ATS vendor that offers HireCentric ATS that can be integrated with social media websites such as Facebook and Twitter. The followers of these social media websites would have visibility to any job listings posted on the website. They can share these job listings with their network through their personal accounts, thereby increasing the visibility of the job listings with a larger set of audience," says a senior analyst at Technavio.
Global applicant tracking systems market: Segmentation analysis
This market research report segments the global applicant tracking systems market by deployment (cloud-based ATS and on-premises ATS) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2018 with a market share of more than 53%, followed by EMEA and APAC respectively. The dominance of the Americas can be attributed to factors such as the growing need for smart and efficient recruiting and the increasing number of foreign student enrollments.
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Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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