This market research study presents a detailed segmentation of the applicant tracking system (ATS) market in the US by deployment model (cloud and on-premises), by social media integration (Facebook, LinkedIn, and Twitter), and by end user (software and services, healthcare, food and retail, and financial services). The key vendors in the market are ApplicantStack, Greenhouse Software, Hyrell, iCIMS, Workable, Bullhorn, ClearCompany, Findly, JobDiva, and Oracle Taleo.
Technavio’s market research analysts estimate the ATS market in the US to grow at a CAGR of 7% between 2016 and 2020. With innovative upgrades introduced to the ATS software, the market for ATS in the US has a positive outlook in the coming years. Continuous demand for cloud-integrated applicant tracking software is a primary growth driver of the ATS market in the US. Organizations are opting for ATS software as it provides better visibility of candidate applications based on keywords chosen by the recruiting manager.
The new market research report from Technavio provides a breakdown and analysis of the ATS segments by technology.
“The latest trend impacting ATS market in the US is the emergence and rapid adoption of resume parsing capabilities. Resume parsing is the conversion of a free-form resume document into structured information table that is suitable for storage, reporting, and manipulation by a computer. To enable resume parsing, ATS is automated in such a way that it scans the resume from multiple sources for details e-mails and shortlists the resumes. Since ATS uses resume parsing functionality to provide better options to organizations, this market is envisaged to witness significant growth in the future,” says Amrita Choudhury, Lead Analyst, ICT, Technavio Research
Currently, the cloud segment leads the ATS market, occupying around 85% of the market share. With the help of the cloud-based solution, also known as SaaS-based service, access to the system can be extended to anyone who is involved in the hiring process. The software is installed in the cloud and runs on systems at the end users’ location, thereby impelling the growth prospects of this market segment until the end of 2020. For instance, IBM Kenexa provides cloud solutions in private, public, and hybrid environments.
The leading vendors in the ATS market in the US are ApplicantStack, Greenhouse Software, Hyrell, iCIMS, Workable, Bullhorn, ClearCompany, Findly, JobDiva, and Oracle Taleo. This market is highly fragmented owing to the presence of several vendors in the market. The presence of a large number of vendors prompts them to provide innovative ATS solutions with advanced capabilities and features to improve risk assessment for faster and more efficient business operations. Vendors are focusing on technological advances to gain a competitive edge over others, leading to the development of core competencies.
A more detailed analysis is available in the Technavio report, ATS Market in the US 2016-2020.
We can customize reports by other regions and specific segments upon request.
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