Global Applicant Tracking System (ATS) market
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Global Applicant Tracking System (ATS) market is expected to propel US$ XX Mn by 2027 with a CAGR of XX% in the forecasting period 2019-2027.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
An applicant tracking system or ATS is used for managing the recruitment and hiring process, which includes job postings and job applications. It organizes as well as delivers searchable information about the job seekers. An ATS is used for tracking candidates through the complete hiring process. The ATS system helps in scheduling, issuing notification alerts and sending automated emails to the relevant candidates thereby acting as something more than the normal organizers.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
An ATS is specially designed for organizing and speeding the hiring process. It posts and manages different job ads across multiple job sites. These ATS systems work by maintaining a database of new candidates and individuals who are good prospects for future openings. These systems work by aggregating information about candidates, including their communication skills, along with creating a defined profile of the candidate, in turn helping to sort and rank candidates. An ATS may be established for giving automated responses, send out relevant interview reminders and alert people in the database for new job openings.
Growth in diverse talent acquisition pool, need for automating recruitment processes, and the emerging need for well-defined candidate portfolios relevant with the job description have acted as some of the major opportunities for the ATS market. However, lack of awareness related to the benefits of using these systems along with the expertise to handle them have acted as some of the major restraints for the ATS market.
The on-premises deployment mode is projected to hold a larger market share as compared to the cloud component. As the applicant tracking system market is growing, there has been a growing need to deploy software that is well-matched with the on-premises arrangement at a comparatively lower cost. The incorporation and placement of the ATS software allow archiving maintenance and communication within the corporate infrastructure which has further boosted the application of on-premises deployment model.
Global Applicant Tracking System (ATS) market is segmented by component, deployment mode, organization size, industry, and region. By component, it is the service segment that comprises of professional and managed services that holds a larger market share. The large enterprises within the organization size segment held the larger market share that can be attributed to the higher number of employees required for the functioning along with well-defined procedures for selecting candidates.
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