Employee Training and Applicant Tracking Software (ATS) Market Size, Share, Growth, and Industry Analysis, By Type (On-Premise, Cloud-Based & Others), By Application (Banking, Financial Services, and Insurance, IT And Telecommunications, Government And Public Sector, Retail And Consumer Goods, Manufacturing & Others) and Regional Insights and Forecast to 2031

Updated On: 08 April 2024

EMPLOYEE TRAINING AND APPLICANT TRACKING SOFTWARE (ATS) MARKET REPORT OVERVIEW

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The global employee training and applicant tracking software (ATS) market size was USD 2883.4 million in 2022 and will touch USD 5745.42 million by 2031, at CAGR of 9.0% during the forecast period. 

Two separate software categories that have different functions in the talent management and human resources processes are applicant tracking systems (ATS) and employee training software. To simplify HR procedures overall, certain integrated systems might, nevertheless, provide both features. The purpose of employee training software is to organize and optimize the process of training and development in a company. Training program organization, delivery, tracking, and assessment are all aided by it. Application training software manages job applications and candidate data automatically, which simplifies the hiring and recruitment process.

COVID-19 Impact: Pandemic Surged Digital Transformation Accelerated the Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The abrupt transition to remote work brought attention to the need for digital tools to handle hiring and training of employees from a distance. To adjust to the changing work environment, companies looked for solutions that made virtual onboarding, training, and collaboration easier. Many firms' efforts to undergo digital transformation were expedited by the epidemic, which resulted in a rise in the use of cloud-based HR software. Businesses sought nimble and expandable ways to oversee their hiring and training procedures in a more dispersed and distant way.

LATEST TREND

"Automation in Recruitment and Data Analytics for Learning Insights to Revive the Market Share"

ATS tasks like resume screening, candidate sourcing, and interview scheduling can be automated and integrated with artificial intelligence (AI) to expedite the hiring process. Increased usage of asynchronous and distant video interviewing platforms, which give hiring teams and candidates more flexibility. A greater use of data analytics to monitor and evaluate learning indicators, giving firms information on how effective their training initiatives are and where they may make improvements. Ongoing emphasis on developing mobile-friendly training programs to meet the growing demand for flexible learning options and the trend of remote work.

EMPLOYEE TRAINING AND APPLICANT TRACKING SOFTWARE (ATS) MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into cloud-based, on-premise & others.

There are several ways to use employee training software, but two popular approaches are on-premises and cloud-based (also known as Software as a Service, or SaaS). The decision between on-premise and cloud-based employee training software is influenced by a number of variables, including the size of the company, its IT setup, its financial constraints, and the degree of control and customisation needed. Due to their adaptability, accessibility, and simplicity of use, a growing number of contemporary enterprises are choosing cloud-based solutions; yet, on-premise solutions are still useful for businesses with particular security and customisation requirements.

• By Application

Based on application the global market can be categorized into banking, financial services, and insurance, it and telecommunications, government and public sector, retail and consumer goods, manufacturing & others.

Software for employee training is essential for improving the abilities, expertise, and productivity of the workforce. Its numerous applications support the organization's and personnel' overall development. Guarantees that finance professionals follow and are cognizant of financial rules, industry regulations, and compliance requirements. Guarantees that staff members are knowledgeable about the goods they sell, enabling improved relationships with clients. Makes certain that public servants fulfill their duties in accordance with laws and moral principles. Provides training courses to improve public sector workers' abilities for efficient service delivery. Employee training software has a wide range of applications that may be tailored to meet the unique requirements and difficulties of each industry. The adaptability of the software enables businesses across a range of sectors to provide their staff with specialized training and learning opportunities.

DRIVING FACTORS

"Increasing Demand for Cloud Based Solutions to Raise High the Market Sales"

During the anticipated period, the global employee training and ATS markets will have development prospects driven by the growing demand for cloud-integrated recruitment software. Due to the cost benefits of on-demand software subscriptions and budget limits for IT infrastructure, the market is seeing a significant transition towards cloud-integrated ATS solutions. Because of their enhanced efficiency and simple deployment techniques, cloud-based solutions are also becoming more and more popular, which will accelerate the market's rate of revenue production. The need for employee training and applicant tracking system software will only grow in the upcoming years since cloud-integrated ATS solutions allow employees to operate from distant locations and minimize operational costs by saving time and using any computer or device to access the solution.

"Virtual Learning and Continuous Learning Culture to Solidify and Rupture the Market Growth"

Companies are realizing how critical it is to support an environment that encourages ongoing education in order to provide staff members with fresh information and abilities. Short, concentrated learning modules known as "micro learning" are becoming more and more common as businesses realize how beneficial it is to present information in a more palatable way for higher levels of engagement and retention. Organizations must offer flexible and accessible learning options because the demand for virtual training solutions has increased due to the expansion of remote employment.

RESTRAINING FACTOR

"Lack of Personalization and Threat to Candidate Privacy to Potentially Impede Market Growth"

Because of our reliance on technology, training sessions may be interrupted by technical concerns like poor internet connectivity or platform bugs. Although a lot of training platforms provide personalization options, it can be difficult to create learning experiences that are genuinely customized for every employee. Data privacy and GDPR compliance may be issues because applicant tracking systems (ATS) gather and retain a lot of candidate data. However, the privacy concerns and lack of personalization to retard the employee training and applicant tracking software (ATS) market growth.

EMPLOYEE TRAINING AND APPLICANT TRACKING SOFTWARE (ATS) MARKET REGIONAL INSIGHTS

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"North America with the Presence of Major Enterprise Software to Pioneer the Market Growth"

A number of factors, such as corporate concentration, technological infrastructure, economic development, and regional trends in HR practices, can impact a region's dominance in the Employee Training Software and Applicant Tracking Software (ATS) market. It's common knowledge that North America, and especially the US, leads the employee training and applicant tracking software (ATS) market share. This is because there are a lot of companies, different industries, and a lot of emphasis on adopting technology.The need for these applicant tracking system solutions will increase due to the presence of significant enterprise software providers like Oracle and SAP as well as the advantages of employee training and ATS solutions, which include helping businesses to strategically source, attract, select, train, develop, retain, and promote their workforce.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

Important market participants who are crucial in determining consumer preferences and market dynamics have a big impact on the market. These major firms provide consumers easy access to a vast array of clothing alternatives through their huge retail networks and online platforms. Product adoption has increased as a result of their strong worldwide presence and well-known brand, which has also enhanced consumer trust and loyalty. In addition, these industry titans never stop funding R&D, bringing cutting-edge styles, materials, and clever functions to meet changing customer demands and preferences. These big businesses' combined efforts have a big impact on the market's future direction and level of competition.

List of Market Players Profiled

• EtQ (U.S.)
• Halogen Software (Canada)
• MasterControl (U.S.)
• WCAS-QuickBase (U.S.)
• ConvergePoint (U.S.)
• Culture Amp (U.S.)
• Intelex Technologies (U.S.)
• Litmos by CallidusCloud (U.S.)

INDUSTRIAL DEVELOPMENT

• August 2019: Cloudpipes, a cloud-based platform provider of automation and integration tools for corporate applications, was acquired by Quick base.

REPORT COVERAGE

In order to provide a comprehensive analysis, the research report explores market segmentation using both qualitative and quantitative research approaches. Additionally, it assesses how the market is affected by strategic and financial viewpoints. In addition, the research provides assessments at the national and regional levels, taking into account the primary factors of supply and demand that impact market expansion. The market shares of important competitors are included in the finely defined competitive landscape. Novel research approaches and player strategies customized for the projected duration are included in the paper. All things considered, it provides thorough and insightful information about market dynamics in an organized and clear way.