Applicant Tracking System Market

Market Leader - Applicant Tracking System Market

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. These players have adopted the major strategy of new product launches to achieve further growth in the global ATS market.

In the 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. The company’s diversified portfolio in the ATS market covers all the significant features of ATS software. In March 2018, Oracle released new AI capabilities to its HCM cloud. These new capabilities offer various benefits to clients, such as better searching capabilities, continuous performance management reporting tool, machine learning, smart onboarding, and AI-enabled chatbots for recruiters. Earlier in September 2017, Oracle partnered with ViziRecruiter to provide Oracle Taleo talent-management users with new visual candidate experience. Candidates receive a seamless experience who visit the Oracle Taleo career site which is integrated with ViziRecruiter.

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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. In line with this, the company has made continuous efforts to diversify and expand its product portfolio and market by adopting inorganic growth strategies, such as partnerships. In June 2018, IBM partnered with Cornerstone OnDemand to deliver enterprises with enhanced HR consulting services and talent management technology. IBM and Cornerstone have integrated IBM Kenexa Talent Frameworks mainly to help enterprises hire and retain efficient candidates globally. Moreover, Cornerstone offers IBM Kenexa Employee Assessment functionality to its clients to help enterprises recruit and train candidates efficiently. Earlier in May 2015, IBM partnered with SAP to transform the talent management industry by integrating both companies’ HR software and services. This partnership helps customers improve their business and decision-making processes enabling efficient recruitment and management of workforces. Significant benefits offered to customers by this partnership include greater data sets across the entire HR spectrum, and better and enhanced client experience.

The ATS market research report analyzes the global adoption trends, growth potentials, key drivers, vendor portfolio analysis, restraints, and opportunities in the market.

Related Reports:

Applicant Tracking System Market by Component (Software and Services), Deployment (On-Premises and Cloud), Organization Size, Vertical (Retail and Consumer Goods, Government and Public Sector, and Manufacturing), and Region - Global Forecast to 2023

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