LONDON--(BUSINESS WIRE)--The applicant tracking systems market in Europe is expected to post a CAGR close to 7% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Owing to the flexibility and cost benefits associated with cloud services, SMEs and organizations worldwide are focusing on reducing their overall capital expenditure with the adoption of new technologies. SMEs are also adopting cloud solutions to leverage the scalability of hardware and resources offered by cloud solution providers. Also, cloud-based solutions offer applicant tracking systems software, servers, storage space, and hardware. They also offer cross-communication platforms, which improve a candidate’s selection by rapidly sharing information with different departments of organizations. Thus, such benefits are leading to an increase in the adoption of applicant tracking systems in Europe.
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As per Technavio, the integration of AI into applicant tracking systems, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Applicant Tracking Systems Market in Europe: Integration of AI into Applicant Tracking Systems
The use of AI is increasing due to its ability to improve productivity and provide accurate results within a short period. For instance, HR departments in enterprises have started adopting AI for their functions as it automates transactional activities and offers analytical inputs by identifying patterns and trends in data. AI also streamlines the hiring and recruitment processes. Therefore vendors are increasingly integrating AI into applicant tracking system solutions. Some of the benefits of integrating AI into applicant tracking systems are fast resume evaluations, automated interview scheduling, and analytical inputs. Therefore, the use of AI-based applicant tracking system is expected to boost the applicant tracking system market in Europe during the forecast period.
“Apart from the integration of AI into applicant tracking systems, the increasing demand for mobile-based applicant tracking systems app and the expansion by applicant tracking system vendors in Europe are some other major aspects that will boost market growth during the forecast period,” says a senior analyst at Technavio.
Applicant Tracking Systems Market in Europe: Segmentation Analysis
This market research report segments the applicant tracking systems market in Europe by end-user (large enterprises and SMEs) and by deployment (cloud-based and on-premise).
The large enterprises end-user segment led the market in 2018. However, during the forecast period, the SME end-user segment is expected to register the highest incremental growth due to the increase in implementation of digitalization.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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