Applicant Tracking System Market Share

APAC Market Statistics

The applicant tracking system market in Asia Pacific, amongst the market in all the other regions, is projected to be the largest with a share of about 37% by the end of 2037. The rapid increase in the number of job seekers across the region, the rising demand for talent management solutions. According to statistics, 16.50 million new workers will be needed in urban areas in China by 2023, the largest number in decades. With the pandemic causing job losses, the number of job seekers has increased significantly in the past year. This has made it difficult for employers to manage the influx of job applications, prompting them to invest in applicant tracking systems to streamline the recruitment process. Applicant tracking systems are the most efficient way to manage the recruitment process, as they allow employers to quickly search for and sort through a large number of job applications. Moreover, the growing awareness of the benefits of using such systems, such as the ability to streamline the recruitment process and reduce the time spent on manual data entry, is contributing to the growth of the market.

North American Market Forecast

The North America applicant tracking system market is estimated to be the second largest, registering a share of about 27% by the end of 2037. The growth of the market can be attributed majorly to the increasing use of cloud-based solutions which offer scalability and cost-effectiveness. They also provide organizations with a more efficient and convenient way to manage their recruitment processes. Additionally, the increasing demand for analytics-based data solutions is further driving the growth of the market in North America. Companies are increasingly relying on data-driven decision making to gain a competitive edge. Applicant tracking systems provide a comprehensive view of the recruitment process and allow companies to track, analyze and improve their processes. As a result, there has been an increase in demand for analytics-based data solutions in the region, driving the growth of the applicant tracking system market. The increasing investment in technology and the availability of technological advancements are further expected to spur the growth of the market.

Europe Market Forecast

Further, the applicant tracking system market in the Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2037. The growth of the market can be attributed majorly to the European Union's focus on digital transformation and the increasing demand for automated and efficient applicant tracking systems by organizations in the region. This, combined with the rising need for better recruitment processes and the growth of the gig economy, is propelling the market's growth. Further, the European Union's initiatives on improving the recruitment process for companies and the implementation of supportive regulations, such as the General Data Protection Regulation (GDPR), are driving market growth in region.