The Europe human resource (HR) technology market size reached US$ 4,154.2 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 8,474.6 Million by 2032, exhibiting a growth rate (CAGR) of 8% during 2024-2032.
Report Attribute
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Key Statistics
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Base Year
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2023
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Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 4,154.2 Million |
Market Forecast in 2032
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US$ 8,474.6 Million |
Market Growth Rate 2024-2032 | 8% |
Human resource (HR) technology is utilized to automate routine processes, store data and provide analytical management reports and insights for better decision-making. It minimizes the manual efforts required for performing various time-consuming tasks like payment processing and allows professionals to access information from multiple sources and share it with different departments. HR technology assists organizations in gaining insights from employee feedback and improving recruiting, workforce retention, and skill development. In the European region, several firms have adopted HR technology to create workforce transparency that enables fair pay practices.
The Europe human resource (HR) technology market is primarily driven by the growing presence of corporate organizations that are heavily investing in advanced HR technologies. The increasing number of key players entering the market is also escalating the demand for HR technology. For instance, Everskill GmbH, a Germany-based start-up, has leveraged innovative technologies to reinvent corporate training and develop an app-based training system for providing soft skill training to employees. Additionally, HR technology provides an optimized recruitment process and related tasks, which is instrumental in enhancing the overall efficiency of the company.
IMARC Group provides an analysis of the key trends in each sub-segment of the Europe human resource (HR) technology market report, along with forecasts at the regional and country level from 2024-2032. Our report has categorized the market based on application, type, end use industry and company size.
Breakup by Application:
Breakup by Type:
Breakup by End Use Industry:
Breakup by Company Size:
Breakup by Country:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Report Features | Details |
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Base Year of the Analysis | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Units | US$ Million |
Segment Coverage | Application, Type, End Use Industry, Company Size, Country |
Countries Covered | Germany, France, United Kingdom, Italy, Spain, Others |
Customization Scope | 10% Free Customization |
Report Price and Purchase Option | Single User License: US$ 3699 Five User License: US$ 4699 Corporate License: US$ 5699 |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The Europe Human Resource (HR) technology market was valued at US$ 4,154.2 Million in 2023.
We expect the Europe Human Resource (HR) technology market to exhibit a CAGR of 8% during 2024-2032.
The rising adoption of Human Resource (HR) technology as it helps organizations in improving the recruiting efficiency, streamlining various processes, reducing the administrative burden, minimizing the compliance and administrative costs, etc., is primarily driving the Europe Human Resource (HR) technology market.
The sudden outbreak of the COVID-19 pandemic has led to the growing deployment of HR technology by several organizations across Europe, as it allows to automate routine operations and secure data storage and analytical management of reports, during the remote working scenario.
Based on the application, the Europe Human Resource (HR) technology market has been divided into talent management, payroll management, performance management, workforce management, recruitment, and others. Among these, talent management currently exhibits a clear dominance in the market.
Based on the type, the Europe Human Resource (HR) technology market can be categorized into inhouse and outsourced. Currently, outsourced accounts for the majority of the total market share.
Based on the end use industry, the Europe Human Resource (HR) technology market has been segregated into TTH (Travel, Transportation, Hospitality), public sector, health care, information technology, BFSI (Banking, Financial Services, and Insurance), and others. Among these, the information technology industry currently exhibits a clear dominance in the market.
Based on the company size, the Europe Human Resource (HR) technology market can be bifurcated into less than 1k employees, 1k - 5k employees, and greater than 5k employees. Currently, greater than 5k employees hold the largest market share.
On a regional level, the market has been classified into Germany, France, United Kingdom, Italy, Spain, and others, where Germany currently dominates the Europe Human Resource (HR) technology market.