Global Recruitment Process Outsourcing (RPO) Market Report 2022: Cost Reduction Potential for Widespread Adoption and Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–That “Recruitment Process Outsourcing (RPO) Market Size, Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030” Report has been added ResearchAndMarkets.com Offer.

The global recruitment process outsourcing market is anticipated to grow at a CAGR of 13.9% during the forecast period of 2022 to 2030. The Recruitment Process Outsourcing (RPO) market is mainly driven by the increasing adoption of outsourcing services worldwide.

Most businesses are looking to outside service providers who can help them reduce their overhead costs. In addition, outsourcing the recruitment processes to a third party allows organizations to focus on their core competencies and thus improve their business operations.

Recruitment process outsourcing allows companies to hire candidates according to their needs without having to bear internal costs. In addition, the demand for RPO services has grown significantly due to their tremendous advantages over traditional recruitment methods. Due to these factors, the recruitment process outsourcing market is expected to witness high growth during the forecast period.

Global Recruitment Process Outsourcing Market, by Engagement Model

As of 2021, the global recruitment process outsourcing market will be dominated by the on-demand RPO segment. The segment contributed about 80% to the total market revenue in 2020. The dominance of the segment is mainly attributed to the low cost and better flexibility of the service. As a result, the segment is estimated to retain its dominant position in the market during the forecast period. However, the end-to-end RPO segment is forecast to grow at the highest CAGR of about 14.3% during the forecast period of 2022 to 2030.

Global Recruitment Outsourcing Market by Industry

As of 2021, the global recruitment process outsourcing market will be dominated by the IT and telecom segment. In 2021, the segment had a revenue-based market share of over 28% of the global RPO market. The segment is followed by the segments ITeS & BPO and BFSI. These are among the industry verticals that require large manpower and massive recruitment. Hence, these are the key segments for RPO service providers and are projected to retain the leading position in the market throughout the forecast period. Healthcare and other segments (including e-commerce) are expected to register the highest market growth of 17% and 16.2%, respectively, during the forecast period.

Global Recruitment Process Outsourcing Market by Geography

In 2021, the global Recruitment Process Outsourcing (RPO) market was dominated by North America, which accounted for approximately 40% of the total market revenue. North America is among the early adopters of RPO services, with widespread adoption among small, medium and large businesses. Additionally, North America is expected to maintain its dominant position in the global market due to the presence of a large number of key RPO vendors in the region during the forecast period.

The markets remain highly fragmented

The increase in the number of service providers has made for a highly competitive market, yet the service providers for outsourcing recruitment processes are highly fragmented. ManpowerGroup Solution, Randstad Holding NV, ADP, LLC and Hudson Global, Inc. are recognized as the leading recruitment process outsourcing market. Global Recruitment Process Outsourcing Market is characterized by the presence of a large number of players with diversified businesses. Therefore, new service development, innovation and focus on improving customer base are some of the required market strategies adopted by the service providers in the market.

Main topics covered:

1 Introduction

2. Summary

3. Recruitment Process Outsourcing (RPO) Market: Business Outlook and Market Dynamics

4. Recruitment Process Outsourcing (RPO) Market: By Engagement Model, 2020-2030, USD (Million)

5. Recruitment Process Outsourcing (RPO) Market: By Industry, 2020-2030, USD (Million)

6. North America Recruitment Process Outsourcing (RPO) Market, 2020-2030, USD (Million)

7. UK & European Union Recruitment Process Outsourcing (RPO) Market, 2020-2030, USD (Million)

8. Asia Pacific Recruitment Process Outsourcing (RPO) Market, 2020-2030, USD (Million)

9. Recruitment Process Outsourcing (RPO) Market in Latin America, 2020-2030, USD (Million)

10. Middle East and Africa Recruitment Process Outsourcing (RPO) Market, 2020-2030, USD (Million)

11. Company Profile

companies mentioned

• Alexander Mann solutions

• ManpowerGroup solutions

• Hudson Global Inc.

• IBM Corporation

• Randstad Holdings NV

• ADP LLC

• Advantage Resourcing America Inc.

• Orion talent

• Kelly outsourcing and consulting group

• Cielo Inc.

• grain ferry

• Hays PLC

• The Adecco Groupm Allegis Group

• PeopleScout

For more information about this report, see https://www.researchandmarkets.com/r/bx6n7e