AP NEWS

Global Applicant Tracking Systems Market 2018-2022 - Reduced Cost of Recruitment Process to Boost Demand - Technavio

November 6, 2018

LONDON--(BUSINESS WIRE)--Nov 6, 2018-- analysts forecast the global applicant tracking systems market to grow at a CAGR close to 5% during the forecast period, according to their latest market research report.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181106005366/en/

Technavio has published a new market research report on the global applicant tracking systems market from 2018-2022. (Photo: Business Wire)

Recruitment automation is one of the major trends being witnessed in the . Before the inception of the applicant tracking system, the recruitment process used to be tedious and time-consuming. It involved a lot of paperwork which made it susceptible to errors. Also, the process could not reach many potential candidates due to network limitation and outreach. However, recruitment automation can be defined as a highly customizable instinctive, spontaneous, smart and intelligent software that fastens the recruitment process and streamlines the workflow. This will not only help improve the quality of recruitment but also cut down on time and cost. Thus, with such advantages, the market is expected to witness a positive outlook during the forecast period.

This report is available at a USD 1,000 discount for a limited time only:

According to Technavio analysts, one of the key factors contributing to the growth of the global applicant tracking systems market is the reduced cost of recruitment process:

Global applicant tracking systems market: Reduced cost of recruitment process

The HR team of any organization receives several applications when job vacancies are opened. Various steps involved in the hiring process include sorting through resumes, finding candidates with the right skills, comparing applicants with each other to select the best candidate for the job role, and sending out interview invites. This process requires several HR professionals to carry out the process in an effective and efficient manner. Applicant tracking systems help to reduce the requirement of HR personnel, thereby reducing the operational cost of the HR department to a large extent. It eliminates the need for manual execution of several redundant tasks. Thus, the system helps to cut down on manpower expense, streamline the entire process, and save overhead costs. Hence, the applicant tracking system is increasingly being adopted by many organizations, which augurs well for the growth of the market.

According to a senior research analyst at Technavio, “Applicant tracking system can not only reduce recruitment cost but can also help the organization increase the quality of employees hired. Applicant tracking systems filter out resumes from several sources including in-house database, online job portals, and social media applications. Thus, when compared with a manual recruitment process, applicant tracking system can screen more resumes, is unbiased, and has a short turnaround time. It provides equal attention and importance to each profile, which subsequently results in shortlisting of the best-suited candidates with appropriate qualifications and experience as required by the company.”

Global applicant tracking systems market: Segmentation analysis

The global applicant tracking systems market research report provides market segmentation by deployment model (cloud-based and on-premises), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

The cloud-based segment held the largest share of the market in 2017, accounting for over 77%, followed by the on-premises segment. The cloud-based applicant tracking system market was valued over 1.6 billion in 2017 and is expected to reach 2.1 billion by 2022, growing at a CAGR of over 5%, during the forecast period.

Looking for more information on this market?

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

About Technavio

is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at .

View source version on businesswire.com:https://www.businesswire.com/news/home/20181106005366/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: PROFESSIONAL SERVICES HUMAN RESOURCES

SOURCE: Technavio Research

Copyright Business Wire 2018.

PUB: 11/06/2018 10:20 AM/DISC: 11/06/2018 10:20 AM

http://www.businesswire.com/news/home/20181106005366/en

AP RADIO
Update hourly