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Application Tracking Systems Global Market Report 2022: Rising Requirements for Efficient Workforce Management and Growing Usage of Social Media Platforms for Job Searches Boosts Demand

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Dublin, March 30, 2023 (GLOBE NEWSWIRE) — The “Application Tracking Systems Market By Deployment, By Organization, By Component, By Application, By End-Use, and By Region Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.

The size of the global market for Application Tracking Systems (ATS) was USD 2.34 Billion in 2021 and is expected to witness a revenue Compound Annual Growth Rate (CAGR) of 6.8% during the forecast period.

The growth in revenue can be attributed to the rising demand for efficient workforce management and the increasing adoption of cloud-based platforms, as well as mobile-based recruitment systems.

Companies use applicant tracking systems in combination with relational marketing programs to hire new employees. ATS can be employed to review resumes, post job openings on a company website or job board, and send email interview invitations to qualified candidates. Applicant tracking software is gaining widespread acceptance among enterprises and governments due to the need for automating the hiring process. Through the use of data mining and natural language processing, ATS software reduces bias and manual errors while automating candidate screening and job application submission across multiple job boards.

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Large companies are adopting ATS to expand their operations by attracting qualified candidates and job opportunities that align with their objectives and values. These businesses require a support system to assist them with the recruitment process, and an applicant tracking system simplifies the collection, storage, and management of applications. According to research, nearly 99% of Fortune 500 companies use one or more ATS systems such as PeopleFluent, Oracle’s Taleo, Avature, or Greenhouse. In smaller businesses, Capterra discovered that 75% of recruiters and personnel managers use an applicant tracking system to some degree.

The Covid-19 pandemic has disrupted the global economy, but it has also accelerated the adoption of digital technologies. Essential corporate tasks are now being carried out online in business ecosystems with the help of cutting-edge technologies. For instance, due to social distancing, prolonged lockdowns, and remote work, many commercial organizations around the world are transitioning to automated applicant tracking systems to recruit and manage their workforce more efficiently.

Market Dynamics

Driver: Rising requirements for efficient workforce management and growing usage of social media platforms for job searches

Application tracking systems have evolved beyond their original purpose of automating recruitment processes and now feature advanced branding options, equality and diversity capabilities, and the use of Artificial Intelligence (AI) to analyze resumes and identify top candidates for open positions. ATS systems allow Human Resource (HR) managers and recruiters to quickly sift through a large number of applications by eliminating candidates who do not meet specific requirements. According to a survey, each online job advertisement receives an average of 250 applicants. There is a growing need for more efficient workforce management solutions, and both large enterprises and startups are working to simplify, streamline, and make recruitment processes more equitable. For example, TestGorilla, based in Amsterdam, has raised over USD 66 million for its cutting-edge technology that has revolutionized the recruitment process.

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Restraint: Difficulties to manage hourly labor and discrimination in nature

Approximately 70% of the global workforce is composed of hourly workers, yet the majority of hiring software is designed for filling corporate positions. Classic ATS firms have been unable to keep up with the gig and service economy’s growth. The hourly labor sector is facing even greater difficulties due to the Great Resignation. According to a survey, 20% of workers plan to change jobs in the next year, while 35% intend to request a raise due to limited prospects for advancement and underwhelming perks. The resulting exodus is making it challenging for businesses in various industries, including technology, restaurants, and retail, to find employees. The high rate of job turnover is putting pressure on HR departments, and many expect that hiring will become more challenging in the coming years.

Talent managers typically use keywords to convey their search criteria to ATS, which then identifies resumes that meet the criteria and disregards those that do not. The machine can complete the process of reading through each resume, which would have taken hours, in just a few minutes. However, this approach has a history of perpetuating discrimination and may be excluding the types of leaders that people truly want to follow, thereby limiting the market’s revenue growth.

Key Takeaways
Deployment Outlook

The global application tracking systems market is segmented based on deployment, application, and end-use. The deployment segment is categorized into on-premises and cloud. The cloud deployment segment is projected to dominate the market and witness the highest revenue growth during the forecast period. Cloud deployment offers various benefits, such as improved security, scalability, flexibility, and lower costs, which is contributing to its popularity. Additionally, the availability of data when required and organized storage is making cloud deployment more popular, driven by the growth of data production and usage of advanced technologies such as IoT and analytics. Moreover, the risk of internal breaches is lower in cloud-based systems due to no physical systems to safeguard.

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Application Outlook

The application segment is divided into IT and telecom, BFSI, manufacturing, retail, and others. The IT and telecom segment is anticipated to register the highest revenue CAGR during the forecast period. With approximately 75,000 job applications received by large corporations such as Google each week, applicant tracking systems provide a means for recruiters to track the progress of applicants as they submit applications. An efficient ATS should allow for saving, commenting, sharing, and exploring applicant profiles and resumes with ease. Additionally, the ability to centralize and track all applicant conversations in a single location makes the hiring and tracking process in the IT industry easier.

End-Use Outlook

The end-use segment is categorized into HR platforms, social media, and others. The social media segment is projected to witness the second-largest revenue share in 2021. Social media is a widely-used communication platform that enables individuals to share information within networks or communities. With mobile apps and portable internet connectivity, cellphone or mobile-only social networking apps have become more popular. Furthermore, the expansion of social media has opened new opportunities for recruitment and employment, with organizations that interact with candidates on social media gaining popularity. When combined with social media, applicant tracking systems can become a potent recruiting tool. Moreover, according to surveys, at least 84% of businesses use social media for hiring, which is expected to drive revenue growth in this segment.

Key Topics Covered:

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Chapter 1. Market Synopsis

Chapter 2. Executive Summary

Chapter 3. Indicative Metrics

Chapter 4. Application Tracking Systems (ATS) Market Segmentation & Impact Analysis
4.1. Application Tracking Systems (ATS) Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers’ analysis
4.2.2.1. Rising requirement for efficient workforce management
4.2.2.2. Growing adoption of cloud-based solutions
4.2.2.3. Growing usage of social media platforms for job search
4.2.3. Market restraints analysis
4.2.3.1. Difficulties to manage hourly labor
4.2.3.2. Biased and discriminatory in nature
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price Trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence

Chapter 5. Application Tracking Systems (ATS) Market By Deployment Insights & Trends

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Chapter 6. Application Tracking Systems (ATS) Market By Organization Insights & Trends

Chapter 7. Application Tracking Systems (ATS) Market By Component Insights & Trends

Chapter 8. Application Tracking Systems (ATS) Market By Application Insights & Trends

Chapter 9. Application Tracking Systems (ATS) Market By End-Use Insights & Trends

Chapter 10. Application Tracking Systems (ATS) Market Regional Outlook

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Chapter 11. Competitive Landscape

Chapter 12. Company Profiles

Companies Mentioned

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For more information about this report visit https://www.researchandmarkets.com/r/y44rnd

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About ResearchAndMarkets.com
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Artificial Intelligence

North American grocery retailer digitizes stores with Pricer Plaza in 90 MSEK order

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STOCKHOLM, June 28, 2024 /PRNewswire/ — Pricer’s partner JRTech Solutions has signed an agreement with a large Tier 1 North American grocery retailer for the cloud-based platform Pricer Plaza, which allows for in-store automation and communication, within an initial 50 of their stores.

The value of the contract is approximately 90 MSEK. The rollout of Pricer Plaza and electronic shelf labels within the initial 50 stores is expected to be completed by the end of 2024. This installation by one of the largest grocery chains in North America with over 1500 grocery and pharmacy stores, is the first large-scale full-store deployment of four-color labels in North America.
“After one year of thorough testing with a pilot installation, we are thrilled by the trust from this leading retailer. It underscores our commitment to transforming the retail experience through cutting-edge technology, enhancing both operational efficiency and customer satisfaction. We look forward to supporting them with our in-store solutions in their digital transformation journey,” says Mats Arnehall, Chief Commercial Officer at Pricer.
“JRTech Solutions has worked extensively with our client over the last year to prove the value, capability and scalability of both our Pricer technology and our suite of deployment solutions. Doing so not only involved digitally transforming our client’s promotional business rules through the use of our latest SmartTAG four-color labels but providing the capability of utilizing our labels in a way that will allow for both ongoing and future operational efficiencies,” says Diego Mazzone, President & CEO at JRTech Solutions.
The order value of approximately 90 MSEK does not include Pricer Plaza and technical support, and will be included in Pricer’s order intake for the second quarter of 2024.
For further information, please contact:Mats Arnehall, Chief Commercial Officer, +46 70-8108084Magnus Larsson, President and CEO, +46 704 [email protected]
This information constitutes inside information that Pricer AB is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was sent for publication, through the agency of the contact persons set out above, at the time stated by the Company’s news distributor, Cision, at the publication of this press release.
Every care has been taken in the translation of this document. In the event of discrepancies, the Swedish original will supersede the English translation.
About Pricer
Pricer is a leading global technology company serving the rapidly growing smart retail market with in-store digital solutions that enhance both store performance and the shopping experience. Through electronic shelf labels, advanced technology, such as optical wireless communication and AI, and continuous innovation, Pricer offers the foundation for in-store communication and efficiency. The industry leading Pricer platform delivers benefits from 30 years of deployment experience and is fast, robust, interconnectable and scalable. Pricer was founded in Sweden in 1991 and is listed on Nasdaq Stockholm. For further information, please visit www.pricer.com.
About JRTech Solutions Inc.
JRTech Solutions Inc. is a privately held corporation headquartered in Montreal, Québec. JRTech Solutions Inc. is the leading Canadian Electronic Shelf Label (ESL) provider and the largest distributor of Pricer Electronic Shelf Labels in North America, involved in over 1,300 store installations since 2008. For further information, visit http://www.jrtechsolutions.com.
This information was brought to you by Cision http://news.cision.com.
https://news.cision.com/pricer/r/north-american-grocery-retailer-digitizes-stores-with-pricer-plaza-in-90-msek-order,c4008573
The following files are available for download:
https://mb.cision.com/Main/715/4008573/2891329.pdf
2024-06-28_Pricer_North American Grocery_ENG
 

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Dahua Technology leads the front lines of ESG

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MAIDENHEAD, England, June 28, 2024 /PRNewswire/ — Dahua Technology, a world leader in video surveillance, has released its 2023 ESG report, showcasing its leadership and commitment to building a green, environment-friendly and safe intelligent world.

Last year, the company, a global video-centric AIoT solution and service provider, made substantial strides by focusing on maximising economic, climate-conscious and social values.
At the forefront of corporate social responsibility, Dahua actively engaged in a fundraising event for UK charity Breast Cancer Now, raising awareness and funds to help those affected by the illness. In addition, the company successfully joined the United Nations Global Compact demonstrating its ongoing dedication to responsible business action in support of broader societal goals.
Adopting a green development strategy, Dahua also implemented an extensive environmental management system, contributing to waste reduction and environmental preservation by enhancing energy efficiency and resource utilisation. In 2023 alone, this included recycling 1,663 tonnes of production materials, ensuring 100% lawful disposal of hazardous waste and achieving an overall recovery rate of 80% for WEEE products.
Championing ESG best practices, Dahua has a well-established governance framework that adheres to compliance operations and business ethics thanks to its Integrity Compliance Committee. Thanks to this body, it continuously improves privacy protection systems, actively carries out external audits and conducts emergency drills and training to ensure the highest level of security for its end users.
Alvin Qian, General Manager UK & Ireland, commented recognising the company’s ESG accomplishments: “In 2023 we witnessed Dahua’s steadfast dedication to social responsibility while seamlessly integrating digital intelligence into our sustainable initiatives and practices. I am proud of our achievements and confident about the progress we have made as we strive to meet our ambitious ESG goals. Looking ahead, we remain committed to driving further advancements in line with our company’s sustainable vision.”
With its mission of enabling a safer society and smarter living, Dahua vows to continue creating value beyond safety through technology, contributing to the world’s harmonious coexistence with nature.
Dahua Technology is a world leader in video surveillance manufacturing, creating advanced electronic security solutions for transportation, education, city surveillance, retail and commercial markets worldwide. Dahua Technology UK & Ireland works with distribution partners to serve an ever-growing network of system integrators and installers, offering complete system solutions that encompass cameras, control equipment, recording, video walls, software, accessories and more.
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Subex Recognized in the 2024 Gartner® Magic Quadrant™ for AI in CSP Customer and Business Operations Report

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BENGALURU, India, June 28, 2024 /PRNewswire/ — Subex, a leading global provider of AI-powered solutions for the telecommunications industry, today, announced its inclusion in the 2024 Gartner Magic Quadrant for AI in CSP Customer and Business Operations report. Subex believes that this recognition marks a significant milestone for the company, highlighting its commitment to delivering innovative AI solutions that empower Communication Service Providers (CSPs) to thrive in the digital age.

According to Gartner, “This Magic Quadrant helps communications service providers identify and evaluate AI vendors for their customer and business operations. It will guide CSP CIOs and technology leaders toward the right AI vendor choices, in a rapidly evolving market.” 
According to Subex, their inclusion in the Magic Quadrant underscores its position as a key player in the AI landscape for CSPs. For many years, Subex has been at the forefront of AI innovation in the telecommunications industry, providing cutting-edge solutions that address complex challenges, such as fraud detection, customer churn prediction, network optimization, and revenue assurance. Leveraging machine learning and automation, Subex empowers CSPs to make data-driven decisions, streamline operations, and achieve significant improvements in overall business performance.
“We are thrilled to be recognized in the Gartner Magic Quadrant for AI in CSP Customer and Business Operations Report,” said Nisha Dutt, CEO of Subex. “We think that being recognized as one of the key players validates our relentless focus on developing AI-driven solutions that address the unique challenges and opportunities faced by CSPs, globally. This is a significant milestone in Subex’s journey, and we are committed to further solidifying our market position through continuous innovation and delivering exceptional value to our CSP customers.”
Subex’s team of experts is dedicated to pushing the boundaries of AI innovation within the CSP domain. By continuously developing new solutions and enhancing existing ones, Subex ensures that CSPs have access to the most advanced AI tools and technologies, to navigate the evolving landscape and achieve sustainable growth.
For more information about Subex and its AI-driven solutions for CSPs, visit www.subex.com.
Gartner, Magic Quadrant for AI in CSP Customer and Business Operations, By Pulkit Pandey, Amresh Nandan, Peter Liu, 4 June 2024
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
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