Recruitment Process Outsourcing Market by End-user and Geography - Forecast and Analysis 2020-2024
- Published: Oct 2020
- Pages: 120
- SKU: IRTNTR40423
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The recruitment process outsourcing market size has the potential to grow by USD 2.74 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 (IT and telecom, manufacturing, BFSI, healthcare, and others) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape. It offers information on several market vendors, including Accenture Plc, Automatic Data Processing Inc., Alexander Mann Solutions, AMN Healthcare Services Inc., Deloitte Touche Tohmatsu Ltd., Hudson Global Inc., Infosys Ltd., International Business Machines Corp., KPMG International Cooperative, and Randstad Sourceright EMEA BV.
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Market Competitive Analysis
The recruitment process outsourcing market is fragmented. Several pure-play vendors are expected to be acquired or approached for acquisition by other industry participants for their technological capabilities. This trend is expected to gain traction by the end of the forecast period. Hudson Global Inc., Infosys Ltd., International Business Machines Corp., KPMG International Cooperative, and Randstad Sourceright EMEA BV are some of the major market participants. Although the lack of in-house expertise in handling crucial recruitment processes will offer immense growth opportunities, the risk of overdependence on a single vendor 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 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 market analysis report also provides information on the upcoming recruitment process outsourcing market trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This recruitment process outsourcing market analysis report provides information on the production, sustainability, and prospects of several leading companies, including:
- Accenture Plc
- Automatic Data Processing, Inc.
- Alexander Mann Solutions
- AMN Healthcare Services, Inc.
- Deloitte Touche Tohmatsu Ltd.
- Hudson Global Inc.
- Infosys Ltd.
- International Business Machines Corp.
- KPMG International Cooperative
- Randstad Sourceright EMEA BV
Recruitment Process Outsourcing Market: Segmentation by Region
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North America was the largest recruitment process outsourcing market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The increasing hiring of temporary and contract-based employees and the adoption of advanced technologies such as cloud computing, AI, and RPA will significantly influence the recruitment process outsourcing market growth in this region.
40% of the market’s growth will originate from North America during the forecast period. The US is the key market for recruitment process outsourcing services and solutions in North America. However, market growth in this region will be slower than the growth of the market in other regions.
Recruitment Process Outsourcing Market: Segmentation by End-user
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The emergence of just-in-time recruitment and the rising adoption of SMAC are a few of the major factors influencing the recruitment process outsourcing market growth by the IT and telecom segment.
The recruitment process outsourcing market share growth by the IT and telecom segment will be slower than the growth of the market by the manufacturing and healthcare segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the recruitment process outsourcing market size.
Recruitment Process Outsourcing Market: Key Drivers and Trends
The lack of in-house expertise in handling crucial recruitment processes is one of the major factors driving the recruitment process outsourcing market growth. Talent scarcity due to the lack of engagement among the recruited employees and the presence of an aging workforce are major challenges for employers across the world. Rapid technological advances will further lead to a lack of suitably trained professionals. Such developments compel companies to approach recruitment process outsourcing (RPO) firms to find the right candidates and expedite the recruitment process. In addition to streamlining the hiring process to enable sourcing of desired candidates, recruitment process outsourcing can also prevent the demand-supply imbalance during adverse market conditions.
Recruitment Process Outsourcing Market: Key Highlights of the Report for the Forecast Period 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive the 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 recruitment process outsourcing industry across APAC, Europe, MEA, North America, 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 recruitment process outsourcing market vendors
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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.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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- Cost reduction by streamlining the hiring process
- Emergence of data analytics and artificial intelligence
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