Exploring the Path from Past to Future: Analyzing the Global Applicant Tracking System Market’s Journey from 2022 to 2032

A recently released analysis report from Future Market Insights has revealed intriguing insights into the Applicant Tracking System (ATS) Market. In the year 2022, the global ATS Market achieved a noteworthy sales figure of US$ 2.1 Billion. Looking ahead, the projected market growth for the period between 2022 and 2032 stands at 5.3%, slightly exceeding the historical growth rate.

Among the diverse segments, it is the software category that is expected to showcase the most promising performance in terms of revenue generation. Projections indicate a Compound Annual Growth Rate (CAGR) of over 5.2% for software sales during the period from 2022 to 2032.

Interestingly, delving into the historical context, the value of the ATS Market demonstrated a CAGR of approximately 6.1% from 2017 to 2021. This underlines the consistent growth trajectory that the market has followed over the years.

Elevating Recruitment Efficiency: The Significance of Applicant Tracking Systems

Applicant Tracking Systems (ATS): Empowering Recruitment and Flexibility

Applicant Tracking Systems (ATS) stand as potent tools for organizations to optimize their recruitment processes. Originally tailored for corporate utilization, these systems facilitate the seamless gathering and monitoring of resumes within a centralized database, simplifying accessibility for recruiters. Furthermore, ATS platforms exhibit adaptability, enabling companies to customize the software to align with their unique requisites. A notable instance of this adaptiveness emerges from the collaborative endeavors of iCIMS, a cloud-based recruiting software platform, and UKG Inc., an American staffing firm, who united their efforts in April 2021.

Collaborative Advancement: iCIMS and UKG Inc. Revolutionize Recruitment Approaches

The strategic alliance between iCIMS and UKG Inc. marks a significant leap in modernizing recruitment strategies. Harnessing cloud-based technology, iCIMS aimed to enhance accuracy, data integrity, and overall efficiency within recruitment procedures. A pivotal facet of this partnership was the preservation of employee data and the acceleration of decision-making processes. One noteworthy enhancement resulting from the collaboration was the streamlining of internal mobility processes.

Seamless Data Integration: Transforming Employee Onboarding and Movement

Through the integration of their applicant tracking system platforms, iCIMS and UKG Inc. devised an ingenious solution to amplify employee onboarding, mobility, and rehiring processes. Hiring managers and recruiters gained the capacity to seamlessly transmit new hire insights through the ATS platform. This data synchronization promptly optimized internal processes for transfers, new engagements, and rehires. As a consequence, the cooperative endeavors not only elevated recruitment efficiency but also underscored the potential of ATS platforms to revolutionize multiple facets of employee management.

Competitive Landscape

Market players persistently advance enhanced analytical solutions and expand their product portfolios. Key players in the Applicant Tracking System market concentrate on alliances, technological collaborations, and product launches. Tier 2 players in the market strive to augment their market share in the Applicant Tracking System sector.

Some recent developments from prominent Applicant Tracking System providers include:

In January 2020, Jobvite introduced a data science strategy for its HR product line. This program aims to save time for both candidates and recruiters by ensuring that corporate recruiters have access to the most qualified applicants. Incorporating various algorithms and data sources, including corporate and recruiter hiring preferences, this data-driven strategy seeks to enhance the recruitment process. In December 2020, iCIMS announced the acquisition of Altru Labs, a mobile video platform, to enrich the company’s Talent Cloud Platform with employee-generated video storytelling.