Applicant Tracking Systems ATS Market Update 2021

The software also helps organizations to standardize their recruitment process by providing a consistent, impartial evaluation of candidates based on predetermined criteria, reducing the risk of human error or bias. By eliminating candidates who don’t fulfill a specific set of requirements, applicant tracking systems (ATS) enable Human Resource (HR) managers and recruiters to efficiently sift through a large volume of applications. Each internet job posting attracts, on average, 250 applicants, claims a poll. The recruitment process is being improved to be more straightforward, equitable, and targeted by a number of large-sized businesses and startup businesses. For instance, the Amsterdam-based company TestGorilla raised nearly USD 66 million for its cutting-edge hiring technology. The global applicant tracking system market size was valued at USD 2.14 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.2% from 2022 to 2030.

We look forward to welcoming more leading companies from around the world in 2024, growing our one-of-a-kind community and setting the pace for innovation on a global scale. Currently, we provide ATS software for TradingView on all operating systems and MetaTrader 4 for Windows only. ATS software is not currently available on DX Trade, so Online Marketing Trading users will need to do their analysis on MT4 or Tradingview, and then manage prop account trades on DX Trade separately. ATS memberships are offered on a month-to-month basis and can be canceled at any time. The Trading Floor is our private community where ATS Traders can ask questions, collaborate, and share trading ideas in real-time.

Moreover, they are launching new products to attract and retain their customer base. Also, continuous investments in the research and development of products are augmenting the market’s growth. Thus, by adopting such corporate strategies, players are trying to sustain their competitiveness in the market. The nature of recruitment and selection is significantly influenced by the advancements in the recruitment software. With an ever-evolving landscape, the recruitment sector requires an ever-changing skillset to meet the changing nature of work across all sectors.

With its other Zoho integrations, companies can manage their recruitment process from start to finish within the Zoho ecosystem. Due to its free forever plan, it’s the best applicant tracking system for small businesses on a budget that want to streamline their hiring process for the occasionally open position. An applicant tracking system is a solution that enables the electronic handling of recruitment requirements. Businesses can access these systems online at different levels depending on their recruitment needs, allowing them to collate and analyze applicant data. An applicant tracking system software is used by companies to recruit employees more efficiently. The Suite offers a single-user experience purpose-built to enhance recruiting efficiency, effectiveness, and cost-per-hire.

Services include training, support & maintenance, consulting, integration & implementation, which are used at different stages from pre-sales to post-sales task execution, thus assisting clients in achieving maximum ROI. Services are essential in imparting training, handling and maintaining the software, and deploying the solution onboard. International Business Machines Corporation of the United States, Jobvite of the United States, Oracle Corporation of the United States, FindlyTalrnt LLC of the United States, BambooHR of the United States are the key players in the market.

The new conversational hiring software helps reduce time-to-hire and deliver frictionless experiences. ATS helps organizations to manage a large volume of job applications, reducing time and increasing accuracy. In addition, need for data-driven decision-making and rising importance of candidate experience has created high demand for ATS in this region. The BFSI sector has a large volume of job applications, making manual management of resumes and tracking of applicants time-consuming and prone to errors. In addition, BFSI organizations require a secure and centralized platform to manage sensitive personal and financial information of job applicants. ATS provides robust security features to ensure the protection of sensitive data.

Recruitee is a great choice for any business that is looking to make the recruitment process more efficient. Bullhorn’s ATS is ideal for staffing companies that need an easy-to-use, cloud-based applicant tracking system. Because of its cloud-based and mobile-friendly design, Bullhorn’s ATS is easy to access from anywhere. Plus, it helps staffing companies process time sheets and invoice clients with ease. The real-time stream of activities related to a candidate also allows you to keep your hiring team up to date on the latest developments. Finally, the ability to recruit as a team ensures that you are bringing top-notch talent into your organization.

• Improvements to resume processing and optimization of the application process can help in areas beyond HR.
• Enhanced candidate experience through a streamlined process across the globe is a key factor driving the market growth.
• It also increases communication between applicants and hiring managers, and completes tasks efficiently, which manual systems cannot do.
• The high strength of candidates and increased demand for talent across the globe are driving the segment’s growth.
• In June 2022, Fountain, a company that creates cloud-based ATS for recruiters, raised USD 100 Million to grow its platform.

Some of the general features we felt that each ATS should have included automatic candidate matching, onboarding tools, social media sharing capabilities and LinkedIn integration. The size of your business will play a role in deciding which ATS is the best fit. For larger companies with multiple departments and hundreds of employees, an ATS with advanced features and high scalability is essential. Smaller companies may not need the same level of sophistication, so they may be able to get away with a basic ATS that is more affordable.

It integrates with major vendor management systems and automatically updates and imports job records to your ATS. It also offers advanced reporting objects and visualizations, as well as exporting capabilities. Businesses of all sizes that want to test-drive an applicant tracking system before buying, and companies that want to manage their recruitment process from start to finish within the Zoho ecosystem. Freshteam is the ideal solution for growing businesses that want a free and easy way to manage the hiring process. The top market players are focused on expanding their geographical footprint by introducing industry-specific solutions. These players are strategically collaborating and acquiring local players to gain a strong grip in various regions.

Adam received his master’s in economics from The New School for Social Research and his Ph.D. from the University of Wisconsin-Madison in sociology. He is a CFA charterholder as well as holding FINRA Series 7, 55 & 63 licenses. He currently researches and teaches economic sociology and the social studies of finance at the Hebrew University in Jerusalem. That percentage clearly stands out when compared to market leaders like Workday (60%) and ADP (48%). We’ve seen a wide range of ATS marketing promises over the past two years—especially from up-and-coming players like Greenhouse and Lever.

Further, the Chin applicant tracking systems market held the largest market share, and the India applicant tracking systems market was the fastest-growing market in the region. In March 2022, iCIMS, Inc., a U.S.-based cloud-based human resources and recruiting software company, revealed that it has acquired Candidate.ID, which is an award-winning marketing automation tool designed specifically for talent acquisition. This acquisition will allow recruiting teams to pinpoint the best candidates who are most suitable and engaged by using advanced lead scoring and automated marketing strategies. As a result, iCIMS and Candidate.ID is transforming the way recruitment marketing is done. The Applicant Tracking System Market is growing due to the presence of global and emerging players in the market. Developing countries across APAC and MEA are expected to offer more opportunities for vendors in the market.

This requires the IT teams to rework on the enterprise infrastructure in terms of security and networking requirements to install the software completely. Redesigning the enterprise infrastructure can be a cumbersome activity as it requires additional support in terms of skilled employees and cost of restructuring. Further, redesging also requires clear understanding of network such as network hardware, servers, traffic. Thus, automating the hiring process through ATS software requires complete understanding of devices, networks, and other IT services to support smooth functioning. It’s important to note that both Oracle Cloud HCM and SAP SuccessFactors are core HR management products, and Cornerstone OnDemand is best known as a Talent Management system.

To overcome this challenge, Asia Pacific enterprises are being made aware of the benefits offered by ATS since the region includes countries such as Singapore, India, Sri Lanka, Malaysia, and Hong Kong, which focuses more on such parameters. Further, the growing adoption of cloud based applications in countries such as China and India are also driving the demand for cloud based recruitment software. Key factors that are driving the applicant tracking system market growth include growing need for improved candidate experience through a dedicated process and demand for automation in the recruitment and hiring process.

The high growth can be attributed to ease in hiring without reviewing each candidate and keeping people’s operations organized without wasting hours manually reviewing the resumes. For instance, in May 2022, Trinity Health, a non-profit healthcare system, adopted iCIMS, a cloud-based recruiting platform that helped hire professionals easily without wasting hours reviewing their resumes. The BFSI segment is presumed to grab a significant share over the forecast period accounting for a revenue share of over 20.2% in 2021. The growth can be attributed to an increase in competition and cutting down expenses to increase the profits for the business.