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The Europe - applicant tracking systems (ATS) market size is estimated to grow at a CAGR of 5.58% between 2022 and 2027. The market size is forecast to increase by USD 202.48 million. The growth of the market depends on several factors, including the digitalization of HR divisions of organizations, the benefits associated with applicant tracking systems, the increasing use of cloud-based applicant tracking systems. An applicant tracking system is a software application that manages the five stages of the recruitment lifecycle, namely sourcing, screening, interviewing, hiring, and applicant performance measuring. The main function of an applicant tracking system is to shortlist and screen relevant applications or resumes based on pre-fed keywords. The keywords are generally related to job skills, the experience of candidates, and job locations.
This Europe applicant tracking systems market report extensively covers market segmentation by end-user (large enterprises and SMEs) and deployment (cloud-based and on-premise). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Digitalization of HR divisions of organizations is the key factor driving the growth of the market. Over the years, the criteria for evaluating employers have increasingly narrowed and become consistent with the rapid increase in specialized jobs. Tasks such as document review; maintaining candidate files and accessing them as needed; scheduling interviews; and managing the entire recruitment cycle are complex, tedious, and time-consuming. These tasks, when handled manually, will cause errors. As a result, organizations are increasingly adopting new IT technologies that help automate the recruitment processes and prevent errors.
In addition, the applicant tracking system helps human resource managers select suitable candidates. Candidate selection is based on keywords related to the job offer. The use of applicant tracking systems is increasing because they automate other activities such as screening new employee forms, managing online training modules, and tracking employee engagement as well. like other employee registrations. This saves time for HR departments, leading to the growth of the Europe applicant tracking system market during the forecast period.
Demand for mobile-based applicant tracking systems apps is the primary trend shaping the growth of the market. Mobile applications are widely used for e-commerce, payments, food delivery, healthcare, and many other purposes, with the high popularity of smartphones and increasing internet bandwidth in European countries. The trend of accessing work-related information on mobile devices is increasing. A variety of applications focused on HR operations are available in the market for job seekers and employers.
Furthermore, large Europe - applicant tracking systems (ATS) market players such as Google, Workable, and Jobvite Inc. (Jobvite) offer a mobile applicant tracking system due to their popularity. Mobile applicant tracking system allows HR managers to find sought-after candidates' resumes, providing advanced analytics and recruiting reports to review pipelines and plan future strategic plans. Therefore, the benefits offered by mobile applicant tracking systems are expected to drive the growth of the market during the forecast period.
Keyword optimization issue in applicant tracking systems is a challenge that affects the growth of the market. There are some issues related to keyword optimization in applicant tracking system tools. In some cases, applicant tracking system software will rank candidates higher if a keyword is mentioned multiple times in the resume. For example, if a candidate has mentioned the keyword Python multiple times in their resume, the applicant tracking system will rank resumes higher in the list than resumes that are only mentioned once.
In such situations, many ideal candidates for the position may not be selected. Such issues related to applicant tracking systems can affect their acceptance, which, in turn, may impede the European applicant tracking system market during the forecast period.
The market share growth by the large enterprises segment will be significant during the forecast period. The European Union (EU) has defined large companies as organizations with more than 250 employees. Companies in Germany, France, the UK, and other European countries are implementing digital transformation initiatives to adapt their business models to market needs. Furthermore, HR managers must ensure that candidates receive fair rewards and feel comfortable with the organization's environment so that the organization can gain better performance and efficiency from employees.
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The large enterprises segments showed a gradual increase in the market share of USD 379.85 million in 2017. Additionally, some market players have begun incorporating new technologies such as AI, machine learning (ML), and deep learning (DL) into their applicant tracking system offerings. This helps speed up the process of evaluating CVs and selecting ideal candidates. The use of applicant tracking systems for recruitment processes in large enterprises will increase as these organizations require significant human resources to manage their workload, which will drive the growth of this segment in the Europe - applicant tracking systems market during the forecast period.
The cloud-based segment accounts for the majority of the Europe - applicant tracking systems market share. With increasing digitalization, companies are looking to hire and manage local talent. Therefore, having a centralized system to attract talent and operate human resources is becoming increasingly necessary. Many financially strong organizations do not choose a cloud-based model due to security concerns associated with the public cloud, despite its cost-effectiveness. However, the adoption of cloud-based applicant tracking systems is expected to increase significantly due to the growth of SMEs in the UK, Germany, France, and other European countries. Therefore, these factors will drive the growth of the cloud-based segment in the Europe applicant tracking system market during the forecast period.
The Europe Applicant Tracking Systems Market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Europe Applicant Tracking Systems Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The Europe applicant tracking systems market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Europe Applicant Tracking Systems Market Scope |
|
Report Coverage |
Details |
Page number |
159 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.58% |
Market growth 2023-2027 |
USD 202.48 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.75 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alphabet Inc., Arcoro, Automatic Data Processing Inc., Bullhorn Inc., Cegid SA, Cisco Systems Inc., ClearCo. Inc., Cornerstone OnDemand Inc., Greenhouse Software Inc, iCIMS Inc., International Business Machines Corp., Jobvite Inc., Kallidus Ltd., Koch Industries Inc., Oracle Corp., SAP SE, Skeeled HR S.a.r.l., Tribepad Ltd., Workday Inc., and Zoho Corp. Pvt. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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