Enjoy complimentary customisation on priority with our Enterprise License!
The recruitment process outsourcing (RPO) market in APAC is estimated to grow at a CAGR of 17.01% between 2022 and 2027. The size of the market is forecast to increase by USD 2,272.59 million. The growth of the market depends on several factors, including the need to improve the HR value chain and compliance, increased use of neo-sourcing, and digital transformation.
This report extensively covers market segmentation by service (blended RPO and MCRPO) and end-user (manufacturing, BFSI, services, energy, and others). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, Download Report Sample
The increased use of neo-sourcing is notably driving the market growth, although factors such as regulatory issues may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Recruitment Process Outsourcing Market Driver in APAC
The increased use of neo-sourcing is notably driving the market growth. Vendors in APAC have recently changed how they view IT in the BPO sector. BPO operations are clearly moving in the direction of automation, which helps service providers compete more successfully. Many businesses in APAC are attempting to combine their technological and business solutions, not just to cut costs but also to boost creativity and productivity. Neo-sourcing, often known as the combination of IT outsourcing and BPO, is an advancement of the BPO models provided by outsourcing businesses.
Neo-sourcing refers to the coordinated management of technology and back-office operations for process re-engineering that would lead to business transformation and optimization. Process optimization, cost savings, access to the best global practices, greater productivity, boosted employee morale, and shortened cycle times are some of the advantages of this technology, which will enhance the RPO market growth during the forecast period.
Significant Recruitment Process Outsourcing Market Trend in APAC
The evolution of BPaaS is the key trend in the market. The way that business procedures are being outsourced has changed with the adoption of cloud technology. RPO solutions are categorized as business process-as-a-service (BPaaS) and are hosted on remote infrastructure under the management of cloud providers. Some business processes that are being enabled by cloud-based BPOs include recruitment, payroll, finance and accounting, contact centers, and specialized HR solutions.
The emergence of modern technologies in APAC has given IT infrastructure more flexibility, which has increased demand for flexible BPO services. Depending on the scale of their organization, companies can choose RPO services and later adjust them to be competitive in the global market. The need for cloud-based services will increase as BPaaS adoption grows quickly within enterprises, allowing businesses to gain a competitive edge and access to new platform solutions within the IT ecosystem. Such adoption of efficient technology will boost the growth of the RPO market during the forecast period.
Major Recruitment Process Outsourcing Market Challenge in APAC
Regulatory issues is the major challenge in the RPO market. Employment laws and regulations are ever-changing. Businesses are required to keep up with the latest regulations and amendments that affect the workplace. HR workers are under tremendous pressure as a result of changes to payroll, hiring, employee benefits, and grievance procedures. Nowadays, businesses in industries including manufacturing, IT, energy, retail, telecom, and hospitality are moving more and more toward the temporary staffing model. The situation is less competitive compared to the unorganized players because staffing companies must adhere to the legislation that applies to employers of permanent personnel, such as gratuity, bonus, and provident funds.
Moreover, the Employment Act and other laws in nations like Singapore, India, and Japan, along with the ongoing implementation of new rules every year, present a challenge to the recruitment process outsourcing (RPO) business in APAC. Such factors will hamper the growth of the RPO market during the forecast period.
Key Recruitment Process Outsourcing Market In APAC Customer Landscape
The 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.
Recruitment Process Outsourcing (RPO) Market in APAC Customer Landscape
Vendors 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.
Cielo Inc. - The company offers RPO solutions with total talent acquisition which includes employer brand practice, executive search, technology consulting and DEI strategies. The company offers recruitment process outsourcing such as Cielo RPO as its key offering.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth of the blended RPO segment will be significant during the forecast period. The recruitment process outsourcing (RPO) market in APAC is growing significantly and witnessing accelerating growth momentum over the forecast period. The emergence of SMEs; the innovations in the recruitment process; and the inherent cost-effectiveness, flexibility, digitization, and increasing outsourcing of recruitment processes are expected to drive the growth of the market during the forecast period.
Get a glance at the market contribution of various segments Request a PDF Sample
The blended RPO segment was valued at USD 543.41 million in 2017 and continued to grow until 2021. Blended RPO solutions are helpful in reducing the cost of recruitment by 8%-20%. The blended recruitment process has evolved as an alternative for firms that are struggling to manage their current recruitment process. These solutions are implemented by organizations strategically to achieve a long-term competitive advantage. The deals for blended RPO solutions have increased in the past few years as the service providers are offering innovative and integrated RPO service delivery systems.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The reports categorize the recruitment process outsourcing (RPO) market in APAC as a part of the global IT consulting and other services market within the global IT services market. 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. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
|
Recruitment Process Outsourcing Market Scope In APAC |
|
|
Report Coverage |
Details |
|
Page number |
164 |
|
Base year |
2022 |
|
Historic period |
2017-2021 |
|
Forecast period |
2023-2027 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 17.01% |
|
Market growth 2023-2027 |
USD 2,272.59 million |
|
Market structure |
Fragmented |
|
YoY growth 2022-2023(%) |
15.9 |
|
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Accenture Plc, Adecco Group AG, Alexander Mann Group Ltd., Allegis Group, Automatic Data Processing Inc., Cielo Inc., EuroDev Holding B.V., GECO Asia Pte. Ltd., GlobalHunt India Pvt. Ltd., Hays Plc, Hudson Global Inc., Infosys Ltd., International Business Machines Corp., Kelly Services Inc., Kite Consulting, Korn Ferry, ManpowerGroup Inc., Randstad NV, Systemart LLC, and TrueBlue 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, and 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 report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Service
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Customized Report as per your Business Needs
Let us help you make report more suited to your requirements.
Get the report (PDF) sent to your email within minutes.
