The Applicant Tracking System (ATS) market is expected to grow from USD 1.21 billion in 2018 to USD 1.81 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 8.3% during the forecast period, owing to the existing market offerings and the increasing focus on pricing and promotions.
Major players in the ATS market include Oracle (US), IBM (US), SAP (Germany), Cornerstone (US), and ADP (US). These players have adopted various growth strategies, such as expansions, acquisitions, partnerships, collaborations, product enhancements, and new product launches.
In the Applicant Tracking System (ATS) market, Oracle offers Oracle Taleo Recruiting Cloud Service for recruiters to efficiently manage and hire potential candidates. Oracle Taleo Recruiting Service offers features, such as social sourcing, reporting and analytics, screening and assessments, precision matching, and proven integration. These features benefit clients with improved hiring quality, enhanced process efficiency, and reduced costs. Oracle has adopted the organic and inorganic growth strategy, with a focus on the enhancement of its ATS product portfolio.
Applicant Tracking System (ATS) services assist and support organizations across industries in effectively dealing with candidate sourcing, resume tracking, and finally the onboarding of the selected candidates. The various significant benefits of ATS services include significant cost savings, trained resources, 24X7 customer service availability, and support for recruiters using the ATS software.
Small and Medium-sized Enterprises (SMEs) are adopting the cloud deployment type, mainly due to its cost effectiveness and advanced results. Rapid growth in data generation and the use of advanced technologies, such as IoT and analytics are leading to the greater adoption of the cloud deployment type, due to the benefits of enhanced and organized storage, and ready availability of data when required.
IBM offers IBM Digital Analytics for Talent Acquisition, IBM Kenexa Talent Acquisition suite, and IBM Watson Talent Frameworks to cater to the demands of the HR teams globally. The IBM Kenexa Talent Acquisition suite is the featured product of IBM which is an integrated suite of recruitment solutions and add-ons. These solutions include IBM lead manager, IBM BrassRing on cloud, IBM onboard on cloud, IBM digital analytics for talent acquisition, IBM talent insights add-on, IBM employment branding add-on, IBM behavioral assessments add-on, and IBM skills assessments add-on.
