Recruitment Process Outsourcing Market by End-user and Geography - Forecast and Analysis 2021-2025

  • Published: Nov 2021
  • Pages: 120
  • SKU: IRTNTR40423
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The recruitment process outsourcing (RPO) market share is expected to increase by USD 4.55 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 13.51%.

This recruitment process outsourcing market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers recruitment process outsourcing market segmentation by end-user (IT and telecom, manufacturing, BFSI, healthcare, and others) and geography (North America, Europe, APAC, MEA, and South America). The recruitment process outsourcing market report also offers information on several market vendors, including Accenture Plc, Alexander Mann Solutions, Allegis Group, AMN Healthcare Services Inc., Automatic Data Processing Inc., Deloitte Touche Tohmatsu Ltd., Hudson Global Inc., Infosys Ltd., International Business Machines Corp., and Randstad Sourceright EMEA B.V. among others.

What will the Recruitment Process Outsourcing Market Size be During the Forecast Period?

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Recruitment Process Outsourcing Market: Key Drivers and Trends

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The cost reduction by streamlining the hiring process is notably driving the RPO market growth, although factors such as the risk of overdependence on a single vendor 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 recruitment process outsourcing industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Recruitment Process Outsourcing Market Driver

To reduce the cost per hire, companies are actively approaching RPO firms. RPO is required to constantly add business value and to cut operational costs wherever possible. RPO can prevent the demand-supply imbalance during adverse market conditions. When a business expands into another product category or another region of the world, recruiting needs to rise considerably. Similarly, during downturns, the retrenchment of the workforce needs to be done. Such imbalances incur high costs for any company. RPO partners streamline the hiring process to reduce such market imbalances. The outsourcing of the recruitment process gives companies scope of sharing the price-associated risks with the RPO partner. Hence, the need for various organizations to reduce their operating costs by streamlining the hiring process is expected to fuel the growth of the global recruitment process outsourcing market.

Key Recruitment Process Outsourcing Market Challenge

The risk of overdependence on a single vendor will be a major challenge for the recruitment process outsourcing market during the forecast period. At times, RPO firms become very demanding, which can affect the relationship between an RPO firm and its client company. In such a case, the security of the confidential information of the organization that is exposed to the RPO firm is at risk. Several organizations have lost control and authority over their critical recruitment functions after they outsourced their recruitment requirements to some RPO firms. Such issues are questioning the reliability of RPO firms, which can adversely affect the adoption of RPO solutions.

This recruitment process 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 2021-2025.

Who are the Major Recruitment Process Outsourcing Market Vendors?

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

 

  • Accenture Plc
  • Alexander Mann Solutions
  • Allegis Group
  • AMN Healthcare Services Inc.
  • Automatic Data Processing Inc.
  • Deloitte Touche Tohmatsu Ltd.
  • Hudson Global Inc.
  • Infosys Ltd.
  • International Business Machines Corp.
  • Randstad Sourceright EMEA B.V.

 

This statistical study of the recruitment process outsourcing market encompasses successful business strategies deployed by the key vendors. The RPO market is fragmented and the vendors are deploying growth strategies such as forming strategic partnerships to compete in the market.

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 recruitment process 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. 

Which are the Key Regions for Recruitment Process Outsourcing Market?

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41% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for the recruitment process outsourcing in North America. However, the market growth rate in North America will be slower than the growth of the market in other regions.

The rise in the adoption of advanced technologies such as cloud computing, AI, and RPA will facilitate the recruitment process 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.

What are the Revenue-generating End-user Segments in the Recruitment Process Outsourcing Market?

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The recruitment process outsourcing market share growth by the IT and telecom segment will be significant during the forecast period.

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

 

Recruitment Process Outsourcing Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 13.51%

Market growth 2021-2025

$ 4.55 billion

Market structure

Fragmented

YoY growth (%)

7.34

Regional analysis

North America, Europe, APAC, MEA, and South America

Performing market contribution

North America at 41%

Key consumer countries

US, UK, Canada, Australia, and India

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Accenture Plc, Alexander Mann Solutions, Allegis Group, AMN Healthcare Services Inc., Automatic Data Processing Inc., Deloitte Touche Tohmatsu Ltd., Hudson Global Inc., Infosys Ltd., International Business Machines Corp., and Randstad Sourceright EMEA B.V.

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 the forecast period

Customization purview

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What are the Key Data Covered in this Recruitment Process Outsourcing Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive recruitment process outsourcing market growth during the next five years
  • Precise estimation of the recruitment process outsourcing market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the RPO industry across North America, Europe, APAC, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of RPO market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by End-user

    • Market segments
    • Comparison by End-user
    • IT and telecom - Market size and forecast 2020-2025
    • Manufacturing - Market size and forecast 2020-2025
    • BFSI - Market size and forecast 2020-2025
    • Healthcare - Market size and forecast 2020-2025
    • Others - Market size and forecast 2020-2025
    • Market opportunity by End-user

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • North America - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • APAC - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Accenture Plc
      • Alexander Mann Solutions
      • Allegis Group
      • AMN Healthcare Services Inc.
      • Automatic Data Processing Inc.
      • Deloitte Touche Tohmatsu Ltd.
      • Hudson Global Inc.
      • Infosys Ltd.
      • International Business Machines Corp.
      • Randstad Sourceright EMEA B.V.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • 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
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      TechnavioREPORT WRITING

      Qualitative

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

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
      Get your FREE sample now!
      The recruitment process outsourcing market growth will increase by $4555.52 million during 2020-2025.
      The recruitment process outsourcing market is expected to grow at a CAGR of 13.51% during 2020-2025.
      Technavio has segmented the recruitment process outsourcing market by end user (IT and telecom, Manufacturing, BFSI, Healthcare, and Others) and geographic (North America, Europe, APAC, MEA, South America, North America, Europe, APAC, MEA, and South America).
      Accenture Plc, Alexander Mann Solutions, Allegis Group, AMN Healthcare Services Inc., Automatic Data Processing Inc., Deloitte Touche Tohmatsu Ltd., Hudson Global Inc., Infosys Ltd., International Business Machines Corp., Randstad Sourceright EMEA B.V. are a few of the key vendors in the recruitment process outsourcing market.
      North America will register the highest growth rate of 40.55% among the other regions. Therefore, the recruitment process outsourcing market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the recruitment process outsourcing market growth are:
      • Cost reduction by streamlining the hiring process
      • Emergence of data analytics and artificial intelligence
      The recruitment process outsourcing market vendors should focus on grabbing business opportunities from the it and telecom segment as it accounted for the largest market share in the base year.
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