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Human Resource Outsourcing Market by Service and Geography - Forecast and Analysis 2022-2026

  • Published: Apr 2022
  • Pages: 120
  • SKU: IRTNTR73129
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The human resource outsourcing market share is expected to increase by USD 10.90 billion from 2021 to 2026, at a CAGR of 4.87%. This human resource outsourcing market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The human resource outsourcing market report also offers information on several market vendors, including Accenture Plc, Adecco Group AG, Automatic Data Processing Inc., Capgemini Service SAS, Capita Plc, Ceridian HCM Holding Inc., CGI Inc., Fidelity Investments Inc., General Outsourcing Co Ltd., Genpact Ltd., HCL Technologies Ltd., Hexaware Technologies Ltd., HP Inc., Infosys Ltd., International Business Machines Corp., Manpower Group, MHR, Randstad Holding NV, Wipro Ltd., Zalaris ASA., Aon Plc, and UKG Inc. among others. Furthermore, this report extensively covers human resource outsourcing market segmentation by service (PO, BAO, MPHRO, RPO, and LSO) and geography (North America, Europe, APAC, South America, and Middle East and Africa).

What will the Human Resource Outsourcing Market Size be During the Forecast Period?

Human Resource Outsourcing Market Size

Download the Free Report Sample to Unlock the Human Resource Outsourcing Market Size for the Forecast Period and Other Important Statistics

"North America has the presence of some of the most advanced economies in the world, which increases the volume of data that is generated and consumed."

Human Resource Outsourcing Market: Key Drivers, Trends, and Challenges

The digitization of human resource outsourcing is notably driving the human resource outsourcing market growth, although factors such as increased dependence on outsourcing agencies may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the human resource outsourcing industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Human Resource Outsourcing Market Driver

The digitization of human resource outsourcing is one of the key drivers supporting the human resource outsourcing market growth. Online platforms need to be digitized to support the Industry 4.0 trend and advanced database management systems. Human resource outsourcing is transforming industrial processes through the implementation of advanced technologies, including IoT, cloud computing, big data, analytics, and augmented reality. Such developments help industries integrate the horizontal and vertical structures of organizations. Moreover, enterprises require human resource outsourcing to manage their units. Human resource outsourcing also reduces per person access costs significantly and increases overall productivity. Thus, technological advances and the increasing adoption of digitization will drive the growth of the global human resource outsourcing market during the forecast period.

Key Human Resource Outsourcing Market Trend

The rise in the adoption of recruitment analytics is one of the key human resource outsourcing market trends that is contributing to the market growth. The complications in the management of huge volumes of workforce data are increasing. This is leading to the use of analytics by many organizations. Analytics solutions use statistical and scientific methods to derive meaningful insights from raw data. The adoption of analytics solutions is gradually increasing in organizations. Proactive recruitment and the wide-ranging use of big data and social media are gaining momentum in the human resource outsourcing industry. Active recruitment or headhunting is the toughest task as it is used to search for executive profiles but with new technologies. This can become a standard practice for a broader range of positions. Such factors will propel the human resource outsourcing market growth during the forecast period.

Key Human Resource Outsourcing Market Challenge

Increased dependence on outsourcing agencies is one of the factors hindering the human resource outsourcing market growth. Companies outsourcing their HR functions may become highly dependent on outsourcing agencies for all their HR functions. Outsourcing may result in a loss of control as their agencies may change the rules of business by making unnecessary demands. Such actions can result in a high level of dissatisfaction among employees. Furthermore, service-level agreements (SLAs) may not cover all the management decisions, resulting in potential conflicts between client organizations and third-party service providers. Moreover, outsourcing HR functions may lead to a loss of sensitive information. Thus, organizations that become highly dependent on outsourcing agencies are faced with the challenge of not being able to operate independently. Such challenges will limit the human resource outsourcing market growth during the forecast period.

This human resource outsourcing market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global human resource outsourcing market as a part of the global IT consulting and other services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the human resource outsourcing market during the forecast period.

Market Overview

The super parent global IT services market cover companies offering IT consulting and system integration services, application services, electronic data processing services, business process outsourcing services, infrastructure services, and Internet services. The global IT consulting and other services market covers companies that provide information technology consulting and information management services. Technavio calculates the global IT consulting and other services market size based on combined revenue generated by companies engaged in the provision of all types of IT consulting and information management services. It includes the annual revenues generated by the companies through the execution of the IT service contracts.  

Who are the Major Human Resource Outsourcing Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Accenture Plc
  • Adecco Group AG
  • Automatic Data Processing Inc.
  • Capgemini Service SAS
  • Capita Plc
  • Ceridian HCM Holding Inc.
  • CGI Inc.
  • Fidelity Investments Inc.
  • General Outsourcing Co Ltd.
  • Genpact Ltd.
  • HCL Technologies Ltd.
  • Hexaware Technologies Ltd.
  • HP Inc.
  • Infosys Ltd.
  • International Business Machines Corp.
  • Manpower Group
  • MHR
  • Randstad Holding NV
  • Wipro Ltd.
  • Zalaris ASA.
  • Aon Plc
  • UKG Inc.

 

This statistical study of the human resource outsourcing market encompasses successful business strategies deployed by the key vendors. The human resource outsourcing market is fragmented and the vendors are deploying growth strategies such as technological innovations and acquisitions to compete in the market.

Product Insights and News

  • Accenture Plc - Through the Europe segment, the company sells and delivers full range of its services and capabilities to clients across Europe. 
  • Accenture Plc - The company offers human resource outsourcing that provides new human resources outsourcing solution that enables mid-sized organizations to outsource their end-to-end HR services and functions, achieving higher performance levels in HR services while lowering their costs. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The human resource outsourcing market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Human Resource Outsourcing Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the human resource outsourcing market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Human Resource Outsourcing Market?

Human Resource Outsourcing Market Market segmentation by region

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56% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for the human resource outsourcing market in North America. Market growth in this region will be slower than the growth of the market in APAC and South America.

The integration of cloud-based services and social media into the recruitment process will facilitate the human resource outsourcing market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the outbreak of the COVID-19 pandemic had severely impacted the economic conditions in countries in the region, which, in turn, adversely impacted the growth of different end-user industries. However, in 2021, with the initiation of large-scale COVID-19 vaccination drives and the lifting of the COVID-19-induced lockdowns, end-user industries in North America that use human resource outsourcing services, such as energy and utilities, manufacturing, telecom, and retail, resumed their operations in compliance with all the safety measures, to contain the spread of the disease and were in recovery mode. Thus, the regional human resource outsourcing market is expected to grow during the forecast period.

What are the Revenue-generating Service Segments in the Human Resource Outsourcing Market?

Human Resource Outsourcing Market Segmentation

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The human resource outsourcing market share growth by the PO segment will be significant during the forecast period. The PO segment is expected to dominate throughout the forecast period. The primary factors that drive the growth of this segment are the better control and visibility of payroll operations with the use of analytics, compliance with regulations, and the need for cost reduction. Multi-country payroll services are expected to proliferate during the forecast period primarily because of the enhanced process efficiency to support increased productivity, link of payroll suppliers, and others. For instance, PO vendors will likely invest heavily in integration abilities and middleware products to provide a seamless approach to the payroll system globally and to improve speed and delivery. Such investments by PO vendors will boost the market growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the human resource outsourcing market size and actionable market insights on post COVID-19 impact on each segment.

 

Human Resource Outsourcing Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 4.87%

Market growth 2022-2026

$ 10.90 billion

Market structure

Fragmented

YoY growth (%)

5.37

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 56%

Key consumer countries

US, Canada, UK, France, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Accenture Plc, Adecco Group AG, Automatic Data Processing Inc., Capgemini Service SAS, Capita Plc, Ceridian HCM Holding Inc., CGI Inc., Fidelity Investments Inc., General Outsourcing Co Ltd., Genpact Ltd., HCL Technologies Ltd., Hexaware Technologies Ltd., HP Inc., Infosys Ltd., International Business Machines Corp., Manpower Group, MHR, Randstad Holding NV, Wipro Ltd., Zalaris ASA., Aon Plc, and UKG Inc.

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 forecast period

Customization purview

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What are the Key Data Covered in this Human Resource Outsourcing Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive human resource outsourcing market growth during the next five years
  • Precise estimation of the human resource outsourcing market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the human resource outsourcing industry across North America, Europe, APAC, South America, and Middle East and Africa
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of human resource outsourcing market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Service
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Service

    • 5.1 Market segments
      • Exhibit 24: Chart on Service - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Service - Market share 2021-2026 (%)
    • 5.2 Comparison by Service
      • Exhibit 26: Chart on Comparison by Service
      • Exhibit 27: Data Table on Comparison by Service
    • 5.3 PO - Market size and forecast 2021-2026
      • Exhibit 28: Chart on PO - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on PO - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on PO - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on PO - Year-over-year growth 2021-2026 (%)
    • 5.4 BAO - Market size and forecast 2021-2026
      • Exhibit 32: Chart on BAO - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on BAO - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on BAO - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on BAO - Year-over-year growth 2021-2026 (%)
    • 5.5 MPHRO - Market size and forecast 2021-2026
      • Exhibit 36: Chart on MPHRO - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on MPHRO - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on MPHRO - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on MPHRO - Year-over-year growth 2021-2026 (%)
    • 5.6 RPO - Market size and forecast 2021-2026
      • Exhibit 40: Chart on RPO - Market size and forecast 2021-2026 ($ million)
      • Exhibit 41: Data Table on RPO - Market size and forecast 2021-2026 ($ million)
      • Exhibit 42: Chart on RPO - Year-over-year growth 2021-2026 (%)
      • Exhibit 43: Data Table on RPO - Year-over-year growth 2021-2026 (%)
    • 5.7 LSO - Market size and forecast 2021-2026
      • Exhibit 44: Chart on LSO - Market size and forecast 2021-2026 ($ million)
      • Exhibit 45: Data Table on LSO - Market size and forecast 2021-2026 ($ million)
      • Exhibit 46: Chart on LSO - Year-over-year growth 2021-2026 (%)
      • Exhibit 47: Data Table on LSO - Year-over-year growth 2021-2026 (%)
    • 5.8 Market opportunity by Service
      • Exhibit 48: Market opportunity by Service ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 49: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 50: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 51: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 52: Chart on Geographic comparison
      • Exhibit 53: Data Table on Geographic comparison
    • 7.3 North America - Market size and forecast 2021-2026
      • Exhibit 54: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 APAC - Market size and forecast 2021-2026
      • Exhibit 62: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 66: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 74: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 Canada - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 7.10 UK - Market size and forecast 2021-2026
      • Exhibit 82: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.11 France - Market size and forecast 2021-2026
      • Exhibit 86: Chart on France - Market size and forecast 2021-2026 ($ million)
      • Exhibit 87: Data Table on France - Market size and forecast 2021-2026 ($ million)
      • Exhibit 88: Chart on France - Year-over-year growth 2021-2026 (%)
      • Exhibit 89: Data Table on France - Year-over-year growth 2021-2026 (%)
    • 7.12 Germany - Market size and forecast 2021-2026
      • Exhibit 90: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 91: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 92: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 93: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 94: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 95: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 96: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 97: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 98: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 99: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 100: Matrix on vendor position and classification
            • 10.3 Accenture Plc
              • Exhibit 101: Accenture Plc - Overview
              • Exhibit 102: Accenture Plc - Business segments
              • Exhibit 103: Accenture Plc - Key news
              • Exhibit 104: Accenture Plc - Key offerings
              • Exhibit 105: Accenture Plc - Segment focus
            • 10.4 Adecco Group AG
              • Exhibit 106: Adecco Group AG - Overview
              • Exhibit 107: Adecco Group AG - Key offerings
            • 10.5 Automatic Data Processing Inc.
              • Exhibit 108: Automatic Data Processing Inc. - Overview
              • Exhibit 109: Automatic Data Processing Inc. - Business segments
              • Exhibit 110: Automatic Data Processing Inc. - Key news
              • Exhibit 111: Automatic Data Processing Inc. - Key offerings
              • Exhibit 112: Automatic Data Processing Inc. - Segment focus
            • 10.6 Ceridian HCM Holding Inc.
              • Exhibit 113: Ceridian HCM Holding Inc. - Overview
              • Exhibit 114: Ceridian HCM Holding Inc. - Business segments
              • Exhibit 115: Ceridian HCM Holding Inc. - Key news
              • Exhibit 116: Ceridian HCM Holding Inc. - Key offerings
              • Exhibit 117: Ceridian HCM Holding Inc. - Segment focus
            • 10.7 General Outsourcing Co Ltd.
              • Exhibit 118: General Outsourcing Co Ltd. - Overview
              • Exhibit 119: General Outsourcing Co Ltd. - Product / Service
              • Exhibit 120: General Outsourcing Co Ltd. - Key offerings
            • 10.8 HCL Technologies Ltd.
              • Exhibit 121: HCL Technologies Ltd. - Overview
              • Exhibit 122: HCL Technologies Ltd. - Business segments
              • Exhibit 123: HCL Technologies Ltd. - Key news
              • Exhibit 124: HCL Technologies Ltd. - Key offerings
              • Exhibit 125: HCL Technologies Ltd. - Segment focus
            • 10.9 Infosys Ltd.
              • Exhibit 126: Infosys Ltd. - Overview
              • Exhibit 127: Infosys Ltd. - Business segments
              • Exhibit 128: Infosys Ltd. - Key news
              • Exhibit 129: Infosys Ltd. - Key offerings
              • Exhibit 130: Infosys Ltd. - Segment focus
            • 10.10 International Business Machines Corp.
              • Exhibit 131: International Business Machines Corp. - Overview
              • Exhibit 132: International Business Machines Corp. - Business segments
              • Exhibit 133: International Business Machines Corp. - Key offerings
              • Exhibit 134: International Business Machines Corp. - Segment focus
            • 10.11 Randstad Holding NV
              • Exhibit 135: Randstad Holding NV - Overview
              • Exhibit 136: Randstad Holding NV - Business segments
              • Exhibit 137: Randstad Holding NV - Key news
              • Exhibit 138: Randstad Holding NV - Key offerings
              • Exhibit 139: Randstad Holding NV - Segment focus
            • 10.12 Zalaris ASA.
              • Exhibit 140: Zalaris ASA. - Overview
              • Exhibit 141: Zalaris ASA. - Business segments
              • Exhibit 142: Zalaris ASA. - Key offerings
              • Exhibit 143: Zalaris ASA. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 144: Inclusions checklist
                • Exhibit 145: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 146: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 147: Research methodology
                • Exhibit 148: Validation techniques employed for market sizing
                • Exhibit 149: Information sources
              • 11.5 List of abbreviations
                • Exhibit 150: List of abbreviations

                Research Framework

                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                TechnavioINFORMATION SOURCES

                Primary sources

                • Manufacturers and suppliers
                • Channel partners
                • Industry experts
                • Strategic decision makers

                Secondary sources

                • Industry journals and periodicals
                • Government data
                • Financial reports of key industry players
                • Historical data
                • Press releases
                Technavio

                TechnavioDATA ANALYSIS

                Data Synthesis

                • Collation of data
                • Estimation of key figures
                • Analysis of derived insights

                Data Validation

                • Triangulation with data models
                • Reference against proprietary databases
                • Corroboration with industry experts
                Technavio

                TechnavioREPORT WRITING

                Qualitative

                • Market drivers
                • Market challenges
                • Market trends
                • Five forces analysis

                Quantitative

                • Market size and forecast
                • Market segmentation
                • Geographical insights
                • Competitive landscape
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                Human Resource Outsourcing market growth will increase by $10900 million during 2022-2026.
                The human resource outsourcing market is expected to grow at a CAGR of 4.87% during 2022-2026.
                Technavio has segmented the human resource outsourcing market by service (PO, BAO, MPHRO, and RPO) and geographic (North America, Europe, APAC, South America, and Middle East and Africa).
                Accenture Plc, Adecco Group AG, Automatic Data Processing Inc., Capgemini Service SAS, Capita Plc, Ceridian HCM Holding Inc., CGI Inc., Fidelity Investments Inc., General Outsourcing Co Ltd., Genpact Ltd., HCL Technologies Ltd., Hexaware Technologies Ltd., HP Inc., Infosys Ltd., International Business Machines Corp., Manpower Group, MHR, Randstad Holding NV, Wipro Ltd., Zalaris ASA., Aon Plc, UKG Inc. are a few of the key vendors in the human resource outsourcing market.
                North America will register the highest growth rate of 55.98% among the other regions. Therefore, the human resource outsourcing market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
                The key factors driving the human resource outsourcing market growth are:
                • Digitization of human resource outsourcing
                • Rise in adoption of recruitment analytics
                The human resource outsourcing market vendors should focus on grabbing business opportunities from the po segment as it accounted for the largest market share in the base year.
                • What are the key global market and the regional market share?
                • What are the revenue-generating key market segments?
                • What are the key factors driving and challenging this market’s growth?
                • Who are the key market vendors and their growth strategies?
                • What are the latest trends influencing the growth of this market?
                • What are the variables influencing the market growth in the primary regions?
                • What are the factors influencing the growth of the parent market?
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