Global Candidate Tracking System Market Report 2022: Growing Demand for Automation in Recruiting is Driving Market Growth

Global Candidate Tracking System Market Report 2022: Growing Demand for Automation in Recruiting is Driving Market Growth

DUBLIN – (BUSINESS WIRE) – The “Global market for candidate tracking systems, by component (software and services), distribution method (on-premise, cloud), organization size (SMEs, large companies), vertical and region – Forecast 2026 “was added to the report by ResearchAndMarkets.com offering.

The global ATS market size is projected to grow at a compound annual growth rate (CAGR) of 6.7% during the forecast period, to reach $ 3.2 billion by 2026 from $ 2.3 billion in 2021. Key factors that should drive market growth are the improved candidate experience through a streamlined process, the need to automate the recruitment process, and improve reporting and compliance.

Based on the component, the market is segmented into two categories: software and services. The services segment is expected to grow at a higher CAGR during the forecast period. Services, including consulting, integration and implementation, training and education, support and maintenance, are required in various stages, starting from the assessment of pre-sales requirements to the implementation and execution of the after-sales product, thus enabling to the customer to achieve maximum RoI. Services are an integral part of implementing the onboard solution, teaching training, and managing and maintaining the software solution. Companies offering these services include consultants, solution experts and dedicated project management teams who specialize in the design and delivery of software, tools and services to support critical decisions.

The ATS market is segmented by implementation type into an on-premise and cloud segment. The cloud deployment mode is expected to grow at a higher CAGR over the forecast period. ATS solutions are migrating to the cloud from the on-premise deployment model as the former offers benefits such as lower operational costs, making the technology accessible to organizations and departments that lack capital and a good infrastructure to support the deployment model. on-premise.

ATS software can be deployed as a cloud-based model, allowing multiple users to access information over the Internet. Cloud services do not charge upfront or pay according to the user’s needs. The cloud deployment model offers various benefits to organizations, such as rapid deployment, scalability, and anywhere access. Data security is a major concern when adopting cloud services. Therefore, organizations are moving towards private and hybrid cloud solutions.

The vertical consumer goods and retail sector is expected to grow at the highest CAGR over the forecast period. The consumer goods and retail vertical is evolving and is expected to grow rapidly in terms of technological changes, customer needs and employment.

Activities such as forecasting, budgeting, customer satisfaction, timely execution of tasks and in-store work planning are the main challenges faced by companies in this vertical. Additionally, retailers need to gain complete visibility and control over hiring a diverse and mixed workforce that includes in-store employees, drivers and field service providers who are hard to attract from the Middle East and Africans. Because of these complexities, the consumer goods and retail vertical sector must select and hire the right employees.

Key topics covered:

Synthesis

  • Candidate Tracking Systems Market: Global Snapshot, 2019-2026

  • The growing segments of the market

  • The software segment is expected to represent a larger market size during the forecast period

  • Training, support and maintenance services to grow at a higher CAGR during the forecast period

  • Cloud deployment mode to grow at a higher CAGR during the forecast period

  • Small and medium-sized businesses to grow at a higher CAGR during the forecast period

  • The consumer goods and retail vertical are projected to grow at a higher CAGR over the forecast period

  • North America will represent the highest market share during the forecast period

Premium insights

  • Brief Overview of Candidate Tracking Systems Market – Growing Demand for Automation in Recruiting is Driving Market Growth

  • Market, by component, 2021 vs. 2026 – The software segment to record a higher market share by 2026

  • Market, by distribution method, 2021 vs. 2026 – On-Premises segment to record higher market share by 2026

  • Market, by organization size, 2021 vs. 2026 – The large business segment will increase market share by 2026

  • Market, for Vertical, 2021 vs. 2026 – The banking, financial services and insurance vertical will have higher market share by 2026

  • Candidate Tracking System Investment Scenario – Asia Pacific will emerge as the best market for investment over the next five years

Market dynamics

  • Drivers

    • Improved candidate experiences through a streamlined process

    • Need for automation in the recruiting process

    • Improve reporting and compliance

  • Restrictions

    • Lack of relevant skills and knowledge

  • Opportunity

    • Increased demand for cloud-based recruiting solutions across businesses

    • Increased penetration of social media and the Internet

    • Emergence of data analysis in recruitment

  • Challenges

    • Implementation of ATS solutions in existing infrastructure

  • Case study analysis based on artificial intelligence

    • Reduced hiring times

    • A collaborative recruiting process

    • Increase in productivity levels

    • Automated and simplified recruitment process

    • Improved candidate experience

    • Simplified recruitment

    • Simplified recruitment

    • Filling critical employee roles

Company profiles

  • Oracle

  • IBM

  • ICIMS

  • Fluent people

  • Cornerstone

  • Work day

  • megaphone

  • Ultimate software

  • ADP

  • LYMPH

  • Jobvite

  • Silk Road Technology

  • payer

  • Greenhouse software

  • Clearcompany

  • Bamboohr

  • Info

  • Zoho

  • Smart recruiters

  • Jazzhr

  • Ceipal

  • chipped

  • Breezy HR

  • Ascended

  • Tribepad

  • Manatale

  • Trakstar rental

  • Sleepy

  • Oorwin

  • Talentnest

  • Lever

For more information on this report, please visit https://www.researchandmarkets.com/r/ppw3qk

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