Applicant Tracking System Market – Global Opportunities & Forecast, 2020-2027
Applicant Tracking Systems Market
Applicant Tracking Systems Market is anticipated to witness a surge of 8.1% over the forecast period. The increasing usage by various organisations to fulfil their recruitment needs by interpreting the applicant data has stimulated the market growth.
Applicant Tracking Systems Market Dynamics
The evolving need for automation because of the accelerating incidences of human errors or human bias elevates the growth of the applicant tracking system. The technological innovations, such as the advent of analytics will bolster the Applicant Tracking Systems market share. Social meetings also include employee referrals, wherein specified solutions support the employees to associate with their social networks to share open positions of the company. At present, social media has gained huge prominence to assist recruiters retain the potential applicants. Also, the amalgamation of the software vendors with several social media platforms is likely to encourage the market growth by simplifying the tracking process. However, the insufficient knowledge about the applicant tracking system in several developed regions is likely to restrain the Applicant Tracking Systems market size. Moreover, the shortage of a competent workforce for the deployment of sophisticated tracking system is likely to generate an obstruction for the global Applicant Tracking Systems market.
Component Segment Drivers
Based on the component, the software segment is likely to lead the overall market over the forecast period. Amongst the software segment, the services sub-segment is likely to experience a noteworthy expansion forecast period. The global Applicant Tracking Systems market research projects that the software mechanises the duty of examining job applications and the candidates via several job boards. With the initiation of job search process, the recruiters make use of strong features of sourcing in an ATS solution to look for qualified talent. The recruiters can post a job opening on different job boards, send out email blasts, and establish a career site for the applicants just with a few clicks.
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