Recruitment Process Outsourcing Market in APAC by End-user and Service - Forecast and Analysis 2020-2024

  • Published: May 2020
  • Pages: 120
  • SKU: IRTNTR40662

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The recruitment process outsourcing market size in APAC has the potential to grow by USD 10.69 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by end-user (BFSI, manufacturing, energy, services, and others) and service (blended RPO and MCRPO). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Accenture Plc, Adecco Group AG, ADP LLC, Hays Plc, Infosys Ltd., International Business Machines Corp., Korn Ferry, ManpowerGroup Global Inc., Randstad NV, and TrueBlue Inc.

What will be the Recruitment Process Outsourcing Market Size in APAC in 2020?

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Who are the Major Recruitment Process Outsourcing Market Vendors in APAC?

The RPO market in APAC is fragmented. Accenture Plc, Adecco Group AG, and ADP LLC are some of the major market participants. Although the need to improve the HR value chain and compliance will offer immense growth opportunities, quality of service concerns will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this recruitment process outsourcing market forecast report of APAC provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this recruitment process outsourcing market analysis report of APAC also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

  • Accenture Plc
  • Adecco Group AG
  • ADP LLC
  • Hays Plc
  • Infosys Ltd.
  • International Business Machines Corp.
  • Korn Ferry
  • ManpowerGroup Global Inc.
  • Randstad NV
  • TrueBlue Inc.

What are the Major End-user Segments in the Recruitment Process Outsourcing Market in APAC?

The BFSI sector was the major revenue contributor in the RPO market in APAC in 2019. The expansion of banking and finance institutions, which has resulted in the growing demand for core financial knowledge and a talented workforce conversant with marketing skills is a major factor fueling market growth in this sector. This report provides an accurate prediction of the contribution of all the segments to the growth of the recruitment process outsourcing market size in APAC.

What are the Major Service Segments in the Recruitment Process Outsourcing Market in APAC?

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Many organizations are focusing on blended workforce services with the support of both permanent and temporary hiring. 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. This report provides an accurate prediction of the contribution of all the segments to the growth of the recruitment process outsourcing market size in APAC.

How will HR Value Chain and Compliance Influence Recruitment Process Outsourcing Market Growth in APAC?

The recruitment process outsourcing market in APAC will register a CAGR of almost 19% during the forecast period. The rising need to improve the HR value chain and compliance will be one of the key factors driving recruitment process outsourcing market growth in APAC. With the increasing commoditization of outsourcing services, the RPO market in APAC has been ascending to the higher end of the value chain. Furthermore, clients are looking forward to innovations and seeking value elements including the enhanced functionality in the recruitment process. With continuous changes in payroll, grievance procedures, and recruitment process, organizations are focusing on outsourcing their whole recruitment cycle. This, in turn, will drive recruitment process outsourcing market in APAC during the forecast period.

With the growing integration of cloud technology in modern businesses, organizations across the emerging and advanced economies of APAC are continuously adopting cloud-based outsourcing solutions for maintaining data security. RPO solutions hosted on remote infrastructure and managed by cloud providers are often categorized as business process-as-a-service(BPaaS). This has encouraged leading RPO companies to acquire BPaaS specialized firms. With the growing adoption of BPaaS, organizations are gaining a competitive edge as these RPO services add flexibility to the IT infrastructure. The evolution of BPaaS will be one of the major recruitment process outsourcing market trends that will gain traction during 2020-2024.

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What are the Key Factors Covered in this Recruitment Process Outsourcing Market Report of APAC?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive recruitment process outsourcing market growth in APAC during the next five years
  • Precise estimation of the RPO market size in APAC and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the recruitment process outsourcing industry across APAC
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of recruitment process outsourcing market vendors in APAC

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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

  • 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

DATA 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

REPORT 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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The recruitment process outsourcing (rpo) market growth will increase by $10.69 billion during 2019-2024.
The recruitment process outsourcing (rpo) market is expected to grow at a CAGR of 18.62% during 2019-2024.
Technavio has segmented the recruitment process outsourcing (rpo) market by end user (BFSI, Manufacturing, Energy, Services, and Others) and other 1 (Lead generation, Brand awareness, Thought leadership, and Others).
Accenture Plc, Adecco Group AG, ADP LLC, Hays Plc, Infosys Ltd., International Business Machines Corp., Korn Ferry, ManpowerGroup Global Inc., Randstad NV, TrueBlue Inc. are a few of the key vendors in the recruitment process outsourcing (rpo) market.
UK will register the highest growth rate of 39.66% among the other regions. Therefore, the recruitment process outsourcing (rpo) market in UK is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the recruitment process outsourcing (rpo) market growth are:
  • Need to improve the HR value chain and compliance
  • Integration of EHRs with electronic data collection systems
The recruitment process outsourcing (rpo) market vendors should focus on grabbing business opportunities from the bfsi segment as it accounted for the largest market share in the base year.

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